Hello guys,
I have recently come to know about cryptocurrency. It is amazing, how these digital currency eill revolutionise this world.
Since, I am following alot of coins. I have listen about burning of cryptocurrency. I am a little bit confused what does burning mean, I will be thankful if anybody explain this.
And I have seen major percentage of coins hold by this address 0x000000000000000000000000000000000000dead.
To whom this address belong? Is there anyone have access of this address ?
Burning of cryptocurrency is the strategy used to make a certain scarce in the market and it also reduces the total supply of coin and total circulating supply of coins while increase the chance of the coin gaining more increase in price but the token thats burned are sent to address will never be use by anyone.