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.

Share this with a friend!

Related Terms

Hey Hey Hey
A term made popular by Carlos Matos who was the spokesperson for the Bitconnect Ponzi. He used it frequently during Bitconnect events to rile up the crowd.
Mempool
It is the abbreviation of Memory Pool. Set of unconfirmed transactions in a blockchain
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.
Gas limit
A term refers to the maximum amount of units of gas user's willingness to spend on a transaction on Ethereum blockchain.
Hungry for more knowledge?
Back to Glossary or Subscribe to our newsletter.
coingecko (thumbnail mini)
CoinGecko for iOS
coingecko (thumbnail mini)
CoinGecko for Android