Proof of Burn (PoB)

From DefiLlama
Revision as of 13:35, 26 April 2022 by Define (talk | contribs) (Created page with "A type of consensus algorithm that requires users to "burn" or exchange some tokens by sending them to an unspendable address, thus proving they are real and active participants in the network. == Sources: == https://fintechmagazine.com/financial-services-finserv/140-blockchain-and-crypto-words-ultimate-z-glossary Category:Glossary")
(diff) ← Older revision | Latest revision (diff) | Newer revision → (diff)
Jump to navigation Jump to search

A type of consensus algorithm that requires users to "burn" or exchange some tokens by sending them to an unspendable address, thus proving they are real and active participants in the network.

Sources:

https://fintechmagazine.com/financial-services-finserv/140-blockchain-and-crypto-words-ultimate-z-glossary