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RE: Proof of Burn Consensus Mechanism - How it Works and Pros and Cons
Very well explained. I am currently learning about blockchain. I have a question for you that confuses me a lot. The tokens/coins that are sent to the addresses that are not recoverable but how? mean how they are not recoverable. Suppose If a address is created then there is always a way to recover it. I don't know how to explain this but I hope you will understand.
@chasad75
When it comes to consensus mechanisms, is such a complex system... For the Proof of burn, consensus is reached by miners in the network sending coins to addresses similar to null addresses... These addresses are verifiable publicly but un-spendable and unrecoverable address.
The burn addresses are generated randomly without any private key... This makes it impossible to recover or spend any coins sent to the burn addresses