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Burn

In the context of blockchain technology, "burning" refers to the process of permanently removing tokens or coins from circulation. This can be done by sending the tokens to an address that has no known private key, effectively rendering them inaccessible and removing them from circulation.

Burning can be done for a variety of reasons. For example, a project or organization may choose to burn tokens in order to reduce the total supply of tokens, which can help to increase the value of the remaining tokens by decreasing the supply and increasing the demand.

Burning can also be used as a mechanism to fund development or other initiatives. For example, a project may choose to burn a portion of the tokens it receives from investors in order to fund the development of new features or products.

Overall, burning is a process that is used to permanently remove tokens or coins from circulation and can be used for a variety of purposes, including increasing the value of remaining tokens and funding development.

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