The burning coin of the double burning mechanism is on fire. What is the double burning mechanism model?

Token burning is the process of burning cryptocurrencies to reduce the total amount of tokens in circulation.

The practice of burning is common in the industry and is very simple.

There are several reasons for burning tokens in this way, but generally speaking, it is for deflationary purposes.

While large blockchains like Bitcoin and Ethereum do not usually adopt this mechanism, altcoins and small tokens often use burning to control the number of tokens in circulation. This provides better incentives for investors.

The burning mechanism is unique to cryptocurrencies, as ordinary fiat currencies are not usually "burned", but the circulation of fiat currencies is subject to additional supervision.

Token burning is similar to a listed company buying back shares, except that the latter reduces the number of shares in circulation. Nevertheless, token burning also has many unique uses for different purposes.

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