Burned Tokens
By CoinGecko | Updated on Jul 28, 2020
Tokens which have been sent to addresses whose private key are not known, effectively becoming unusable. Example burn addresses include 1BitcoinEaterAddressDontSendf59kuE on Bitcoin or 0x0000000000000000000000000000000000000000 on Ethereum.
Related Terms
cc0 NFT
A cc0 NFT is a piece of digital content where the IP rights have been relinquished.
Dominance
Typically refers to Bitcoins' market capitalization dominance.
Encryption
In cryptography, encryption is a process of encoding information the original form of information called plaintext via an algorithm called cipher. The encrypted message is now called ciphertext. Only authorized parties can decipher the ciphertext and convert back it to the original plaintext.
Proof of Work (PoW)
A consensus algorithm in which a block is validated via mathematical hashing
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