Quote from: Herbert2020 on August 16, 2020, 01:35:00 PM

Quote from: nc50lc on August 16, 2020, 12:19:49 PM

They call those addresses "Proof of Burn"

these addresses should never be referred to as proof of burn because even though they are essentially doing the same thing, they are doing it the worst way possible since each time these addresses receive a payment that is one extra burden on each bitcoin node per output and they have to keep these garbage UTXOs in their database and load it each time forever.

I can't agree more, the name sounds wrong to me.
Probably because of the historic use-case when they were used as another form of "mining", an alternative to POW / POS.
Explained better in the Wiki: https://en.bitcoin.it/wiki/Proof_of_burn#Introduction_and_motivation