You are viewing a single comment's thread from:
RE: Steemit Crypto Academy Contest / S5W4 - Token Burn
Hello friend.
Your explanations about the Token Burn is very much impressive. I really enjoyed reading your post because your ideas are true and facts.
The burn function being a system smart contract helps verify the holder's wallet address as well as the validity of the Tokens therein.
Yes brother you are right here. Whenever a wallet owner proceed to carry out a burning transaction, the burn function which is a smart contract is generated and confirms the validity of the transaction.
If there are no enough funds in the wallet or the owner is not agree to carry out the transaction further, the contract is cancelled and hence the funds are remain uneffected.
Thanks a lot for sharing with us and wishing you a very happy contest ahead.