9 votes
Accepted

What does it mean to "burn" a token?

One way in which Tokens/ADA can be burned is by sending them to a contract which has a deadline for extracting them. Once the deadline is passed, the validation script will never be able to validate ...
Isaac Padberg's user avatar
6 votes

What does it mean to "burn" a token?

One way to burn a token would be to send it to a script address where the validator always fails. One of the simplest validators in Plutus would look something like this... mkValidator :: Data -> ...
Chrismo's user avatar
  • 524
4 votes

What does it mean to "burn" a token?

I have not reviewed the specification for Cardano private keys, but in many crypto-currencies a private key must have some specific characteristics, for example so many Bytes in size. Because of the ...
Scalextrix's user avatar
3 votes

What does it mean to "burn" a token?

In the world of Native Assets in Cardano, one can perform a negative mint procedure a.k.a. DESTROY on tokens as long as the Policy behind it is still open. This essentially takes it completely out of ...
Pizza Knight's user avatar
3 votes
Accepted

Create a Native token for voting & burn afterwards

First of all, there might be better ways to build a voting system than to use native assets as "votes" in the future when we have smart contracts on Cardano. But of course your proposal ...
eddex's user avatar
  • 3,828
1 vote

Do I Need A Contract Monad For a Burn Wallet?

to help clarify, a plutus smart contract does not need a contract monad. A contract monad is used by the plutus PAB to create a client side contract that helps prepare and submits the plutus script ...
lley154's user avatar
  • 297
1 vote

How to generate a verifiable Proof-of-Burn address

I think that the address you generate is plausibly unspendable but not provably. I can imagine that by tweaking a Plutus validator script with a lot of time and computing power you could generate a ...
Jey's user avatar
  • 1,549
1 vote

Burn token using blockfrost java sdk?

There is a great post on the Cardano form that goes in-depth on different types of burning methods [1]. Note that these tokens send to such addresses still exists but can't be transferred anymore by ...
Fermat's user avatar
  • 1,882
1 vote

What does it mean to "burn" a token?

If someone wants to achieve a cryptocurrency's deflationary effect – then he/she burns a token. This process reduces the overall number of tokens in circulation, therefore boosts the cryptocurrency's ...
Andy Jazz's user avatar
  • 1,805

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