Burning tokens, being a destructive process, may not sound like a good idea to anyone who is not familiar with crypto.\rThere have been reports of investors liquidating their assets in other sectors and switching to digital currencies and the blockchain.\r Token Burn Explained Token burns, also called coin burns, are a deflationary mechanism by which developers or miners remove tokens from circulation in a bid to reduce the supply.\rIt is impossible to recover burned tokens when the burn function is executed.\rWhen this function is executed, a specific amount of tokens can be permanently removed by the user from the circulating supply.\r Illustration of Token Burning Many cryptocurrencies have been involved in the token burn strategy.\r\rSource -https://www.bsc.news/post/cryptonomics-token-burn-explained\r$Qtoken #Qoneqt #QTO #Oboswap #tokens #burning #cryptoburn #Blockchain #Decentralization #Mining #Staking #Trading #DeFi #dApps #NFTs #Ethereum #Binance #Polygon #Cryptocurrency #CryptocurrencyNews
