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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.

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Related Terms

Application Programming Interface (API)
It is a software that acts like an intermediary or a bridge that lets two applications talk to each other. It is the one that lets applications, data and devices interact.
Double Spending
Double spending refers to the act of spending digital currencies twice. This is most commonly applied on crypto exchanges by unscrupulous actors.
Over The Counter (OTC)
It refers to the process that cryptocurrencies are being traded outside exchange and it is done directly between two parties
Public Blockchain
An open sourced blockchain where participation is public and permissionless
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