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 ?
It looks like the trend of burning coins to reduce the supply amount continues to be carried out by developers to increase the price of tokens in circulation, there are a lot of default wallet addresses I've seen like (0x .... 1), (0x .... 2) nobody has that private key or wallet and usually coins are burned for other reasons for example a developer will burn a token that doesn't sold out when the ICO was run