burnsteem25 || Stemphotos contest #9 || Who is @null || What is Burn steem ? by @jyoti-thelight

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Who is @null ?

Cryptocurrency users are assigned an address that is used to send and receive coins which are also called wallets. Just like the email address. You can send and receive coins just like emails from one email address to another and only the owner(recipient) can access it. The cryptocurrency address is also identical and the cryptocurrency network recognizes that address as one unique person and uses it for transactions.

Coin Burning or burn steem occurs when a coin is sent to a wallet address called @null that can only receive coins. The @null is also called “eater” or “burner” addresses and nobody owned it. Cryptocurrency wallets or steemit wallets have private keys that allow you to access the coin tokens stored in them. However, the @null does not contain a private key, which means that the token is gone forever.

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What is Burn steem?

Burn steem is the process in which users can remove "steem" tokens from circulation in the crypto market, it is also called coin burning, which reduces the number of coins in use or circulation. Tokens are sent to a wallet called @null address that cannot be used again for transactions, and the wallet especially only for receiving purposes. The wallet is out of the network, and the token can no longer be used.

Most of the cryptocurrency companies do the coin-burning process to make the stability of the coin in the market and believe it increases the coin value. some crypto companies buy back coins to reduce the number of Crypto Coins in circulation as well as make the demand. In general, the purpose of this practice is to increase the value of coins while increasing the financial performance of Crypto.

It is believed that tokens are burned to achieve the same result and sustainable value in the market. Reducing the number of coins in supply, making demand for the particular coin, or burning process are making tokens more valuable and less obtainable, thereby working to control the supply of coins and maintain or increase the value of their own holdings.

#Burnsteem25

In the steemit every user is advised to do burn steem by adding 25% benificciary to the @null account so that 25% of the post income will be burned, for this sc01 and sc02 are also supporting this campaign called #burnsteem25. So everyone please join the campaign and burn at least 25 percent steems to make our coin stable and sustainable.

I invite @m-fdo, @ranarahman,@parineeta, and @eliany to participate in this contest. 25% of this post is going to @null and 50% to @steemphotos

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