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
Soft Cap
Targeted fund raising limit of an ICO
Off-chain
It refers to transactions occuring outside the blockchain and executed instantly.
ERC-1155
ERC-1155 token standard allows each token ID to represent both non-fungible (NFTs) and fungible tokens which may have their metadata, token supply and other attributes.
cc0 NFT
A cc0 NFT is a piece of digital content where the IP rights have been relinquished.
Hungry for more knowledge?
Back to Glossary or Subscribe to our newsletter.