Crypto Explained: What are Token Burns? Why would someone want to destroy tokens forever?

What happens when you remove tokens from circulation? What are token burns and why would people want to remove tokens from supply? Chapters 0:00 What are token burns? Why are they necessary in the first place? What do they accomplish? 0:44 What happens when you remove money from circulation? 1:09 Public demonstration of deflation COMMENT […]

Proof Of Burn (PoB) vs Proof Of Reputation (PoR) vs Proof of Authority (PoA)

In this video, we go over proof of burn, proof of authority and proof of reputation

What is Proof of Burn?

Proof-of-burn has been used as a mechanism to destroy cryptocurrency in a verifiable manner. Despite its well known use, the mechanism has not been previously formally studied as a primitive. In this paper, we put forth the first cryptographic definition of what a proof-of-burn protocol is. It consists of two functions: First, a function which […]
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