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
BUIDL
An advice for investors to contribute new projects on blockchain rather than holding cryptocurrencies and waiting for the price to increase
Transaction Fee
A payment to the network for performing a transaction to be recorded on the blockchain.
Hot Wallet
It is a tool that store your cryptocurrencies and always connected to internet
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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