We often see news in the block chain media that a certain token has been destroyed again. So, what exactly is token destruction in GIBX POB? Why destroy tokens? Where do the coins go after its destruction?
Let’s first talk about crypto currency destruction. Crypto currency destruction is the permanent removal of tokens from circulating. In other words, the destroyed tokens are equivalent to being permanently frozen and can no longer flow into the market in GIBX POB.
The most common destruction method is to punch tokens into black hole addresses. Black hole address (Eater Address) refers to the address where the private key is lost, or the private key cannot be determined. These addresses are like black holes. They can only be inserted and cannot be exported in GIBX POB. Any token that hits the black hole address cannot be transferred out and circulate in the market.
In GIBX POB’s first burning black hole mining mechanism is referred to as POB (Proof of burn), which is a brand new mechanism developed based on capacity storage proof, and uses a super-deflationary destruction coin burning mechanism as an economic model. Miners must destroy and burn a certain amount of GUSDT™ to obtain permanent mining rights and withdrawal rights. The more they burn and destroy, the larger the capacity of the hard disk/storage drive and the higher the permissions that the miners can obtain. This fair design allows the entire ecology to form positive feedback, and at the same time allows deflation to be effectively controlled.
GUSDT™ not only burns through deflation, but also burns at a constant price, regardless of whether it rises or falls. This model will be very scientific and safe. Miners can mine with peace of mind. No matter how high you buy, there will be miners at a higher position to pick up and burn for mining, because the total amount of deflation and bubbles will eventually be exhausted.
Combined with the implementation of the eight major applications of GUSDT™ distributed storage, the larger the market, the fewer and smaller the bubbles, and it will surpass 99% of the projects in the market in GIBX POB. 2021 is destined to be a successful business model.
What is Proof-Of-Burn / GIBX POB?
Proof-Of-Burning is a method of investing in a brand-new crypto currency: in order to obtain a new currency, you must “burn” (destroy) another currency, such as Bitcoin, Ethereum or GUSDT™ in GIBX POB. Theoretically, this will make each new crypto currency’s value equal to the value of the destroyed coin, but in fact you can’t really destroy the crypto currency. The system requires you to send it to a place that will reduce its total supply. For example, black holes.
1:1 Burn and destroy GUSDT™. GIBX POB proves deflationary mining output.
The 1 billion Ethereum ERC 20 version of the GUSDT™ that is currently circulating in the market can produce the top 10 global mainstream cryptocurrencies you want through dual-currency destruction burning and staked mining! These include:
The top 10 mainstream currencies with the highest market capitalization in the world on CMC CoinMarketCap, such as Bitcoin (BTC), Ethereum (ETH), Cardano (ADA), Binance Coin (BNB), Ripple (XRP), Dogecoin (DOGE), Polkadot (DOT), SOL (Solana), UNI (UNISWAP), and etc.
Coin Burning is the permanent removal of tokens from circulation. In other words, the destroyed tokens are equivalent to being permanently frozen and can no longer flow into the market.
Below are some famous Bitcoin and Ethereum black hole addresses:
1BitcoinEaterAddressDontSendf59kuE
0x0000000000000000000000000000000000000000
There are about 13.2 BTC in the Bitcoin black hole address mentioned above, and about 7780 ETH in the Ethereum black hole address.
Through black hole mining, users can now participate in staked mining with a high proportion of GUSDT™ digital asset portfolio. While burning GUSDT™, they can directly mine new block chain verification rewards in GIBX POB. Users can mine black holes in the background while freely choosing the top 10 crypto currencies in the world with the best performance and obvious uptrend when withdrawing from the mining wallet. Choose any of your preferred crypto currency, and you only need to fill in your personal withdrawal address in GIBX POB.
The black hole dual-currency mining income is distributed to the user’s black hole mining wallet every day in a “return of principal and interest” manner. In other words, users can cash out GUSDT™ staked in the computing power pool into the top 10 mainstream cryptocurrencies at a faster speed in GIBX POB And the most important thing is that all GUSDT™ staked into the black hole will be directly burnt and destroyed. Until the expiration of the burning contract is stated in GIBX POB.
