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.

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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.