Proof-of-burn term & concept was originally
Thought of by (XCP)Counterparty Dev..
By which bitcoins were being BURNED by sending private
keys to
an unspendable address.Counterparty is that its native cryptocurrency,
XCP, was created and distributed by destroying
bitcoins in a process known as “proof-of-burn”.
https://www.counterparty.co/why-proof-of-burn/WHY PROOF OF BURN was
orginially created to...*eliminate the need to trust anyone with large sums
of money while building Infrastructure.
* To maximize project legitimacy right from the start.
* Ensure developers do not enjoy any special privileges
* No lump sum of investor capital that allows developers to “make a killing”
* to do away with the need for trusting any third parties,
including the founders and developers themselves.
* eliminate any speculation of plans to get rich quick or redistribute risk unequally.
If KORE is to follow something similar to the POB model set in motion by XCP DEV..
KORE DEV may have found a proven method already working in place.
Regards
P2P360 Group
Counterparty (XCP) is a distributed asset platform & Cryptocurrency