Cryptocurrency Q&A
Which coin uses proof of burn?
Which coin uses proof of burn?
Carolina
Fri Nov 29 2024
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6
answers
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I'm looking for a specific coin that utilizes the proof of burn consensus mechanism. I want to know which cryptocurrency employs this method for validating transactions and securing its blockchain network.
6 answers
ZenBalance
Sun Dec 01 2024
There are several networks that have adopted the Proof of Burn consensus mechanism.
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Starlight
Sun Dec 01 2024
One notable example is Slimcoin, which is recognized as one of the pioneers in implementing this approach.
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SejongWisdomSeeker
Sun Dec 01 2024
Slimcoin allows its users to burn coins as a means of acquiring mining power.
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RiderWhisper
Sun Dec 01 2024
This process involves destroying coins in exchange for the ability to mine new ones.
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TopazRider
Sat Nov 30 2024
By burning coins, Slimcoin aims to replace traditional mining processes.
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