Educational Byte: What Is Token Burning? Why Crypto Projects Do It

This story was originally published on HackerNoon at: https://hackernoon.com/educational-byte-what-is-token-burning-why-crypto-projects-do-it . Why are crypto projects burning their own tokens on purpose? From scarcity to fair forks, the reasons go beyond hype. Let's break it down. Check more stories related to web3 at: https://hackernoon.com/c/web3 . You can also check exclusive content about #cryptocurrency-investment , #what-is-a-token-burn , #token-burn-market-effects , #token-burning-mechanism , #crypto-token-burning , #obyte , #sidechains , #good-company , and more. This story was written by: @obyte . Learn more about this writer by checking @obyte's about page, and for more stories, please visit hackernoon.com . Token burning is a way to reduce the total number of tokens in circulation. It can also be a tool for trust, competition, and utility. Some projects use token burning to reward users or make a system fairer.