Burned Tokens
By | Updated on Jul 28, 2020
Tokens which have been sent to addresses whose private key are not known, effectively becoming unusable. Example burn addresses include 1BitcoinEaterAddressDontSendf59kuE on Bitcoin or 0x0000000000000000000000000000000000000000 on Ethereum.
Related Terms
Liquidity
The ease of which cryptocurrency can be bought and sold without impacting the overall market price.
Microtransaction
Microtransaction is a system that made very small payments possible in buying the common digital goods and services, such as purchasing items in a game.
Decentralized Finance (DeFi)
Decentralized Finance (DeFi) refers to the movement of building decentralized financial applications that have no central authority and is censorship free.
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)
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