TLDR
Bitcoin isn’t really a 'coin', a token burn does not need any fire, but there is an action taken by the token developers where the tokens’ signatures are put into an irretrievable public wallet known as an 'eater address' This address can be seen by all nodes but is practically frozen forever. Burning tokens is a deflationary move to ensure that the value of the token does not drop due to increased circulation from mining or new minting. Lower supply usually means higher demand, and higher demand can drive the price of a token up.via the TL;DR App
no story
Written by nambiampurath | Turning onchain madness into readable magic. Crypto journalist. DeFi, Web3, SEO — served longform, not lukewarm.
