LeoGlossary: Burning

How to get a Hive Account

Burning in cryptocurrency means permanently removing a certain number of coins or tokens from circulation. This is done by sending them to the "Burn" wallet on the blockchain.

It is a transaction that is also known as destroying tokens.

A burn reduces the overall supply, making it deflationary. The intent is similar to a stock buyback, to increase the price by making the float smaller.


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