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
SHA-256
Abbreviation of "Secure Hashing Algoritm - 256", SHA-256 is part of the SHA2 that allows one-way hashing of any data into a 64 character string.
Application-Specific Integrated Circuit (ASIC)
Refers to specialized computers that are made to do a very specific task (eg. calculate hashes for Bitcoin's Proof-of-Work)
InterPlanetary File System (IPFS)
The InterPlanetary File System (IPFS) is a peer-to-peer network and distributed file system protocol for storing and transferring data.
Delegated Proof-of-Stake (dPOS)
A consensus mechanism where selected members of a network are voted as delegates to validate transactions and produce blocks on a blockchain.
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