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 ?
Certainly that address have been trashed and not active anymore due to token burning, and basically it happens when token supply was reduced. Though the developer of a cryptocurrency project did some token supply reduction, that doesn't you're about to take profit on their project. Some tokens after burning has no further progress, and worst they've been left away by their supports, then their token became shitcoins in the end.