What is Token or Coin Burn - 10% Beneficiary set to @tron-fan-club
Assalamu Alaikum I hope everyone is very well and I am also very well in your prayers by the infinite mercy of Allah Alhamdulillah. Today I will share another important post among you. Today I will share with you what is coin burn? And today I will discuss in detail about Coin Burn with you. I hope you will benefit from this post at least a little. And you will like my post.
In fact, we are currently living in the digital age. We can do a lot of things in a very simple way to make this online intellectual work. And those of us who trade probably all know more about Coin Burn and how Coin Burn works and what the consequences of doing this Coin Burn are - more or less. But we do not know this post for them. I think it's very important for us to know this. So that's why today I first discussed with you what is coin burn?
What is coin burn?
The various coins we are familiar with are supplied by someone and this coin burning is basically a process that first removes the burned token from the coin supply and also reduces the total supply by calculating the total and all The burning of the project has the same purpose and that is to reduce the amount of total coins. To put it simply, when a token is supplied and when it comes to a market, the supply of this coin is completely reduced and this increases the price of the token and increases its demand. This is basically called coin burn.
Another thing is that all the projects have their own burning process - they usually mention in their white paper in advance how and for how long they will burn this token. I will discuss with you how to burn coins or tokens. Because many of us may not know this
That's the way it works
First of all if I want to talk about this coin burning function then I will say that this topic is completely based on a function. Here the coin will be verified by the contract address and he will see if the amount of tokens or coins is in his wallet the amount of coins or tokens that have been called for. After doing this, if the wallet does not have enough coins, the call is invalidated and the function is not executed.
And if there are enough, the function is executed so that the amount of coins or tokens that were asked to be deducted is subtracted and its contact address is updated. However, one thing that is being said here is that the amount of coin token that is dropped from that coin or token will never be returned. Canceled forever. And every person who verifies the token or coin that is omitted can see how many coins have been omitted.
Which is the result
In the end I can say that this result is very positive because I have discussed above that the amount of coins or tokens that are burned but goes out of supply forever and this current is what the supply is updated. And when the supply of a coin or token decreases from the total supply, then the value of that coin may increase. This is because when the supply decreases according to the demand then the value will increase naturally and it is normal. That's why I think if a coin or token is burned, it is a very positive thing for those coin holders.
This was my talk about burning coins or tokens today. I hope you like my post today. I am ending here today with the wish that everyone will be healthy and well.
Wrote many beautiful details about tokens or coins. I also learned a lot through your post. Thank you so much for saying such an important thing.
thanks for your nice comments sister. and good luck to you
Very useful knowledge that you give to all of us, keep it up
thank you so much brother
Token burning is very important for a token. When the token is burned, the price of that token is likely to increase a lot. Thanks for presenting the subject so neatly.
I am very happy to your comment. thanks you
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