proof of burn
Word Rarity
Uncommon
Frequency: Zipf frequency 4.31 in modern English
21
Scrabble Score
11
Letters
1
Syllables
7
Unique Chars
Meaning
noun
A process for verification on a blockchain that requires the destruction (“burning”) of tokens.
Example Sentences
- "Proof of burn is used to destroy (burn) coins. To burn bitcoins means to send those bitcoins to a verifiable yet nonspendable address."
- "The third approach to ensure the integrity of a blockchain is proof of burn, first used by Counterparty. The Counterparty tokens, XCP, were distributed proportionally to everyone who destroyed bitcoins by sending them to an unrecoverable address during the proof-of-burn period in January 2014, see counterparty.io."