Bitcoin Forum

Is ths a generel ERC20 burn address?

https://ethplorer.io/address/0x000000000000000000000000000000000000dead

You just send to it and the token is confirmed burned?

Yes, this address has now withdraw functions, so tokens placed there are kinda out of circulation. At least for now, with current state of Ethereum blockchain.

Yes.

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No one does have the control for that wallet so anyone who sends eth or token there will just burn that token.

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Any wallet address that doesn't have an owner/private key can be used for burning tokens.

When you send to the address the total supply don't decrease on ethplorer etc.

Is there any way to update that?

255 million USD worth of coins and tokens in this wallet ;D, would really love to get my hands on it. But yeah, as far as now this address really does only let you transfer and not withdraw the coins.

Once transferred the coins are indeed "burned".

No, ethplorer see total token number according to smart contract. Technically, there's no burn, but tokens are out of reach (but they exist). Such websites like Coinmarketcap ask you to share which addresses contain untouchable tokens, so for them you can define such 0x000000 address.

Ya, that 0x000 address for burn some ico token that haven't reach their hardcap, not only for burning token, with that address, you can send token with 0x000 contract as well.

It's the total supply and there's no way to indicate in the record there on how many tokens were burned.

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Right.

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Check other tokens that burned a lot of their tokens, they indicated how many tokens were burned but in the record it still shows the total supply including the burned ones.

Exactly. You can throw away your shitcoins or other coins and at least for now no one can reach that wallet.
So that is kind of burn or we can  say these coins stucked in that wallet until forever.

Very unusual address. I want to study that. Thank you for the information. Blockchain never ceases to amaze.

Yes and they are many of it.

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Others are called the genesis wallets and most of the ICO projects are sending their tokens there to be considered as burned tokens. No one owns this type of wallet so tokens there will never be moved.

Yes, that surely is burn address, but I remember that day when I first saw them the first question comes in my mind was why do people even burn coins it took me time to understand how people tree is the maximum amount of price from the system. I did not contributed anything till now to any of these burn addresses.

Again learned something new on the forum. It has long been interested in the procedure of "burning". It turns out everything is very simple, you need to send to 0x000000 (all zeros), the remaining coins.
If I understand correctly, this wallet technically can not be hacked? To carry there is no private key?

Yes, it is an ERC20 burn address that tokens are sent to directly and burnt.
The principle behind it is that any address that has similar figures whose pattern is like an ERC20 address pattern, the proposed token that is to be burnt can be sent there.
These addresses do not have known private keys and whose privare keys cannot be generated. Which invariably means that nothing can be withdrwn from it.
The pattern of ERC20 burn addresses are usually like:
https://ethplorer.io/address/0x000000000000000000000000000000000000
https://ethplorer.io/address/3x000000000000000000000000000000000000
https://ethplorer.io/address/2x222222222222222222222222222222222222
and so on.

Everyday awake is an opportunity to learn something new in crypto and I just did. Always wondered how coins were burned crypto, not I know they're locked away for every in a wallet which no one has control over. Thanks guys

Thank you for all the answers.

That seems to be very much correct. Some also use contract development for burning.
So i am of the opinion that the right way to burn erc20 is to create a contract which immediately self destructs and sends to its own address, or just send ether to his deployed contract.
Here is an example of code used:

pragma solidity ^0.4.11;

contract Burner {
    uint256 public totalBurned;

    function Purge() public {
        // the caller of purge action receives 0.01% out of the
        // current balance.
        msg.sender.transfer(this.balance / 1000);
        assembly {
            mstore(0, 0x30ff)
            // transfer all funds to a new contract that will selfdestruct
            // and destroy all ether in the process.
            create(balance(address), 30, 2)
            pop
        }
    }

    function Burn() payable {
        totalBurned += msg.value;
    }
}

Which sends it straight to the contract address.

Load contract to burn this will update supply if unable to access is suitable to send there circ supply will not decrease.

Think that is what I am looking for ;-)
Have not tried yet.

Yes, when you send a token to its own contract address, that is good as burned already and will be out of circulation.

Yes, that kind of address is a burn address. In ethereum addresses, any eth address that cant be recovered its account, like lost of some private keys, etc. Anything that cant be recovered, can be used as a burning address.