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rob 2 years ago

Purpose of this address

The 0x000000000000000000000000000000000000dead address is commonly used by projects to burn tokens.

The point of burning tokens is to limit the token's supply. By sending the token to an address that is not owned by anyone we are basically taking the tokens out of circulation forever.

How do we know that 0x000000000000000000000000000000000000dead is not owned by any person? It is just very unlikely that anyone is so lucky to get such a nice looking address. For the same reason the address of 0x0000000000000000000000000000000000000000 is sometimes used to burn tokens. On the other hand, if the burned tokens were being sent to an address that looks like this 0x3a51da1ce593ad3164b1edb25b3b3eb31bb3ed73, then it would be difficult to convince the community that no one has the private keys to that address.

rob 2 years ago

Here you can observe transfers to this address on the Ethereum network: https://etherscan.io/address/0x000000000000000000000000000000000000dead
and here on Binance Smart Network: https://bscscan.com/address/0x000000000000000000000000000000000000dead