Hey guys
Im wondering is there a burn address, where people that may have excess tezos and want to help with the decrease of total supply send them to be removed from circulation?
Maybe some millionaire who wants to burn a few hundred million tezos?
What is a null address ?
And how come the burn address is so low?
Please excuse my very low knowledge when it comes to these topics.
The null address is called that way because all the bits of its binary representation are 0. What makes this address usable for burning tokens is that everybody knows that nobody owns a private key able to spend the tokens which have been sent there.
With infinite supply, what would be the point of burning?
What matter is issuance rate. If issuance ratio is higher than burning we have a inflationary scenario.
If issuance ratio is lower than burning rate, we have a deflationary scenario.
