Burning

Burning is a process in which coins are permanently removed from circulation. Burning is typically done by sending coins to an address that is not associated with any private key, meaning that the coins can never be spent. Burning is often used as a way to reduce the supply of coins in circulation, which can help to increase the value of the remaining coins. Burning can also be used to fund development of the blockchain network, as coins that are burned are typically redistributed to miners as a reward for their work.