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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

Mining Pool
Combination of resources of several miners to obtain a higher mining power and thus achieve greater rewards for the opening of blocks.
Mining
It is the process of the miners verify and adding transaction recors into a block.
Difficulty
A relative measure on how difficult it is to correctly guess a new block
Bullish
A term used to indicate positive sentiment towards the market or an asset, where investors believe that there will be upward price movement.
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