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
REKT
A shorthand slang for “wrecked”, typically describes bad trades that results in losses.
Zero-Knowledge Succinct Non-Interactive Argument of Knowledge (Zk-Snarks)
An acronym for Zero-Knowledge Succinct Non-Interactive Argument of Knowledge, zk-SNARKs refers to a protocol where one can prove posession of a given piece of information (eg a string or hash) without revealing that information and also without any interaction between both the prover & verifier.
Variable Buy/Sell Tax
On-chain buy sell tax rate that is not fixed, whereby it is possible for contract owners to change at will.
Token
Blockchain based unit of value issued by an organization, which grants token holders a right to participate in a network.
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