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What is PoB (Proof of Burn)?

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PoB (Proof of Burn) is a consensus mechanism in blockchain that involves deleting or burning tokens or crypto coins as proof of participation in the network.

Proof of Burn (PoB) is an alternative consensus mechanism in blockchain, which is different from Proof of Work (PoW) or Proof of Stake (PoS). In PoB, to participate in the network and validate transactions, users must burn or destroy their crypto tokens or coins.

The PoB mechanism is designed to incentivize users to participate in the network and ensure the security of the blockchain. The more tokens burned, the greater the user's contribution to the network and the greater the rewards that can be received.

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