RE: Steemit Crypto Academy Contest / S5W4 - Token Burn ||Who, where, when, how, why tokens are burned.
Hey pal,
And since then the tokens are never returned. This wallet is called a dead wallet. There is usually no password. As a result, the tokens cannot be returned to the market. So they become bran there.
The dead or null wallet is a wallet created purposely and solely for the burning of crypto asset and for that reason almost all, if not all Blockchain technology has their own private dead wallet that is used to remove large amount of their native coin from the Total circulation and total supply.
This is then expected to help boost the price movement of the asset, at any period of time the burn is held. Burning is a healthy lifestyle for all Blockchain and I expect all to embrace it well.
Thank you very much for sharing, please you can check my own entry here