#steemphotos Contest #9 -Who is @null? and What is Burn steem?

Who is @null?

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It's a personal account. Something nobody has any control over. When we transfer our coins, it is intended that they will be locked there. It will reject in it and never obtained at that moment again.

It's extremely difficult to lose your recent awards by burning your cash. Increasing the supply of your burning coins is not a miracle. Steemit itself travels a challenging route. However, I do acknowledge that burning Steem is not a bad choice to use if you want better Steem in the future.

A wallet or account with the cryptocurrency field null is one that no one owns and doesn't have a private key to access it. The @null account on the Steem blockchain is similar to burning money in that any Steem sent to it is non-refundable and cannot be utilized by anybody else. This is the reason why the act is known as coin burning. "Eater" and "burner" addresses are other names for @null addresses.

What is Burn steem?

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Burning coins permanently lowers the supply of coins on the market. Thus, there will be less coin in circulation. Burning coins is analogous to shareholders repurchasing shares to drive up their value on the stock market. We must understand that burning coins is different from burning other stuff. Naturally, the burn function found in each coin's smart contract is used during the process of burning those coins.

The majority of cryptocurrency businesses burn coins in order to promote market stability and, in their opinion, coin worth. Some cryptocurrency businesses repurchase coins to increase demand while lowering the overall supply. In general, the goal of this technique is to raise coin values while raising cryptocurrency's financial performance.

Assuming there are 50,000 Steem coins available, 10,000 of them are burned, leaving a total of 40,000 coins available. This improves the value of the coin for individuals who have held it for a long period because it reduces the amount of coins in circulation.

Every user on Steemit is asked to burn steem by adding a 25% beneficiary to the @null account, which will burn 25% of the post income. SC01 and SC02 are also supporting the #burnsteem25 campaign. In order to make our coin stable and sustainable, everyone is kindly asked to join the campaign and burn at least 25% of their steems.

How to set 25% beneficiary to @null?

How to set beneficiary to @null is shown below. It's not challenging. It's the same process you go through to enter a contest that asks you to choose a percentage beneficiary for a community account. Well, I'll demonstrate it in the form of images for your convenience. Only the actions listed below need to be done!

Step 01: Click on Advanced settings.

Step 02: Click, Add account.

Step 03: Place the value 25 in the percentage column and @null in the column directly after it.

Step 04: click save.

The #burnSteem25 initiative has my full support. Don't forget to add the hashtag #burnsteem25 so I can discover your posts more easily. Let's support this most recent endeavor collectively, now. The price stability of Steem will be protected by this endeavor. Additionally, Steemcurator01 probably selects posts with a 25 percent reward of null. Receiving a vote, however, is not guaranteed.

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This concludes my post.

Hope you enjoy it.

See you in the next publication.

Regards
@mrsokal ✍️