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
Custody
Protective care or guardianship of an asset.
Seed
A value used to initiate generation of pseudorandom number, ususally a string of 12 commen English words.
Dump
A common term used to describe downward market movement, or to describe the action of selling an individuals holdings.
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