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 means that when coins that do not belong to anyone are sent, they are destroyed forever.
But the main purpose of this work is to reduce the number of coins in circulation so that the value of the remaining coins increases and the holders of those coins trade themselves with more value.