{"id":3638,"date":"2021-12-23T06:25:58","date_gmt":"2021-12-23T06:25:58","guid":{"rendered":"https:\/\/zebpay.com\/au\/?post_type=glossary&#038;p=3638"},"modified":"2021-12-23T06:25:59","modified_gmt":"2021-12-23T06:25:59","slug":"proof-of-burn-pob","status":"publish","type":"glossary","link":"https:\/\/zebpay.com\/au\/glossary\/proof-of-burn-pob","title":{"rendered":"Proof of Burn [PoB]"},"content":{"rendered":"\n<p>The autonomous and decentralized nature of the blockchain network needs an automated mechanism that validates a set of transactions. Proof of Burn is a method of investing in new cryptocurrencies. To get 1 unit of the new currency, you must burn\/destroy another currency like Bitcoin. But since there is no physical \u2018burning\u2019 of coins, the miners send the coins to a verifiable un-spendable address, where the coin can never be spent. The PoB method is a more sustainable consensus method which creates permanent market scarcity since the \u2018burnt\u2019 coins are taken out from circulation in the network.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The autonomous and decentralized nature of the blockchain network needs an automated mechanism that validates a set of transactions. Proof of Burn is a method of investing in new cryptocurrencies. To get 1 unit of the new currency, you must burn\/destroy another currency like Bitcoin. But since there is no physical \u2018burning\u2019 of coins, the [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"class_list":["post-3638","glossary","type-glossary","status-publish","format-standard","hentry"],"acf":[],"_links":{"self":[{"href":"https:\/\/zebpay.com\/au\/wp-json\/wp\/v2\/glossary\/3638","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/zebpay.com\/au\/wp-json\/wp\/v2\/glossary"}],"about":[{"href":"https:\/\/zebpay.com\/au\/wp-json\/wp\/v2\/types\/glossary"}],"author":[{"embeddable":true,"href":"https:\/\/zebpay.com\/au\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/zebpay.com\/au\/wp-json\/wp\/v2\/comments?post=3638"}],"version-history":[{"count":1,"href":"https:\/\/zebpay.com\/au\/wp-json\/wp\/v2\/glossary\/3638\/revisions"}],"predecessor-version":[{"id":3639,"href":"https:\/\/zebpay.com\/au\/wp-json\/wp\/v2\/glossary\/3638\/revisions\/3639"}],"wp:attachment":[{"href":"https:\/\/zebpay.com\/au\/wp-json\/wp\/v2\/media?parent=3638"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}