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Which term describes the process of voluntarily giving up ownership of cryptocurrencies to reduce the total supply?

Lim How Wei
February 12, 2024

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In this guide, you’ll learn the answer to “Which term describes the process of voluntarily giving up ownership of cryptocurrencies to reduce the total supply?” in Marina Protocol.

Which term describes the process of voluntarily giving up ownership of cryptocurrencies to reduce the total supply?

Question: Which term describes the process of voluntarily giving up ownership of cryptocurrencies to reduce the total supply?

Answer: Burning.

Further reading

What is the purpose of a “staking pool” in a Proof of Stake blockchain?

Which blockchain platform is designed to facilitate the creation of decentralized finance (DeFi) applications?

In the context of blockchain, what is a “soft fork”?

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Lim How Wei

Lim How Wei is the founder of followchain.org, with 8+ years of experience in Social Media Marketing and 4+ years of experience as an active investor in stocks and cryptocurrencies. He has researched, tested, and written thousands of articles ranging from social media platforms to messaging apps.

Lim has been quoted and referenced by major publications and media companies like WikiHow, Fast Company, HuffPost, Vice, New York Post, The Conversation, and many others. One of his articles about the gig economy was quoted by Joe Rogan who hosts The Joe Rogan Experience (arguably the most popular podcast in the world), in the This Past Weekend podcast by Theo Von.

In his free time, Lim plays multiple games like Genshin Impact, League of Legends, Counter-Strike, Hearthstone, RuneScape, and many others. He creates guides, walkthroughs, solutions, and more on games that he plays to help other players with their progression.