By Welcome back to our beginner’s journey into the fascinating world of Tokenomics! In our previous section, we explored how inflation affects crypto tokens. Today, we are going to learn about another interesting concept – Token Burning, with real examples. So fasten your seat belts for this exciting ride.
Token Burning: Reducing Supply for Scarcity
If you’ve been exploring the crypto space, you might have come across terms like “burning tokens” or “supply reduction.”
Imagine taking a pile of physical money and throwing it into a furnace, never to be seen again. In the digital world of cryptocurrencies, “token burning” is the equivalent. It’s the process of permanently removing a certain number of tokens from circulation, making them inaccessible and unusable forever.
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