What Is the Concept of “Burning” Tokens?
Token burning is the permanent removal of tokens from circulation by sending them to an unspendable address, often called a "burner" or "eater" address. This is a deflationary mechanism used to reduce the total supply, which is intended to increase the value of the remaining tokens.
It can be implemented as a response to transaction fees or as a periodic event to manage supply. It is irreversible.
