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۱ مطلب با کلمه‌ی کلیدی «coin burn» ثبت شده است

What is coin burn? 

 

Coin burning is the process of permanently removing cryptocurrencies from circulation, reducing the total supply. 

A cryptocurrency holder will call the burn function, stating that they want to burn a nominated amount of coins.

 

The smart contract will then verify that the person has the coins in their wallet and that the number of coins stated is valid. The burning mechanism only allows positive numbers.

 

If you execute the burn function to burn your coins, they will be destroyed forever. It's impossible to recover coins after they are burned, and thanks to blockchain technology, the proof of burn can be easily verified on a blockchain explorer.

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