Also, there are many types of proof-of-burn but here I will provide just one simple explanation. I am going to explain both one by one with the help of an example that you can very well relate to.В But before that, I need to explain the proof-of-burn mechanism using which the coins are burnt. For destroyingВ unsold tokens or coins after an ICO or token sale.For rewarding the token or coin holders.For making new tokens or coins (proof of burn).This public address should be available on the blockchain for anyone to review such a transaction.Д¬oin burn is typically done for purposes such as: What is Proof-Of-Work & Proof-Of-Stake?Д¬oin burn in cryptocurrencies means sending some of the coins of native cryptocurrency or some other currency to a public address from which those particular coins can never be spent because the private keys of such an address are unobtainable.It will help you understand why do we burn coins in cryptocurrencies. However, if you donвЂ™t understand proof-of-work and proof-of-stake, consider going through the link below. вЂBurningвЂ™ in another novel way of earning from cryptocurrencies.ДЇor those of you who are aware of proof-of-work and proof-of-stake, coin burn as something similar to proof-of-burn about which I am going to talk later in the article. Of course! Well then, buy some cryptocurrencies that keep burning themselves. Do you want to earn money from cryptocurrencies?

Burn notice meaning