What is a burn?
Last updated
Last updated
Some tokens deployed on the blockchain feature limits (supply) depending on the criteria. Examples of limits include :
Max supply: maximum possible number of existing tokens For Jimizz, this figure is 8 billion.
Total supply: number of existing tokens at time T.
Circulating supply: number of tokens in circulation (excluding, for example, tokens that have been burnt or locked in wallets).
Once created, a Jimizz cannot be "destroyed". However, in order to permanently remove it from circulation, an operation known as a burn is carried out.
A burn consists of sending tokens to an address that does not belong to anyone. This is usually address 0, also known as the Black Hole :
These tokens can no longer be sent to another address. A burnt token is therefore permanently removed from the Circulating supply.