Token Burn
By | 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
Hashrate
Total processing power of a blockchain or what is the same, are the amount of hash values that can be made in a period of time.
EIP (Ethereum Improvement Proposal)
Refers to improvement proposals for Ethereum, used to introduce features or any updates on the Ethereum network.
Byzantine Fault
A byzantine fault is where an error has occured, yet a computer system does not know due which component/what failed to the lack of information and continues to iterate on a given instruction.
Proof of Work (PoW)
A consensus algorithm in which a block is validated via mathematical hashing
Interested to stay up-to-date with cryptocurrencies?
Get the latest crypto news, updates, and reports by subscribing to our free newsletter.
Or check it out in the app stores
Arbitrum
Avalanche
Fantom
Flare
Gnosis
Linea
Optimism
Polygon
Polygon zkEVM
Scroll
Stellar
Story
Syscoin
Telos
X Layer
Xai
