Token Burn
By CoinGecko | Updated on Mar 03, 2020
Fret not, there are no virtual fires here. A token burn event refers when an amount of tokens are removed from the circulating supply, this is done either by sending the tokens to a burn address "addresses with very improbable private key generation chance", or to a smart contract that is meant to delete the tokens.
Related Terms
Smart contracts
Self executing contracts on the blockchain without needing human executors or notary.
Privacy Coins
Cryptocurrencies that are designed with transaction anonimity and user privacy in mind.
Derivatives
A financial instrument which derives its value from the performance of an underlying asset or index (eg. gold, crude oil)
Proof-of-Authority (PoA)
A consensus algorithm that asigns block validation queue based on identity and reputation.
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