Burn transaction decreases the amount of smart token or Signa on sender's account and thereby the total amount of the smart token or Signa on the blockchain. Any account that owns a smart token (not necessarily the token issuer) or Signa can burn those by sending it to the burn address (Zero account) on the chain. Burned tokens or Signa cannot be restored back to the account. SmartContracts and Subscriptions payment also burn by node logic the used execution fee/network fee constantly. Automated burning is shown per block in the explorer.
The following transaction can be used to burn smart tokens or Signa:
- Ordinary payments
- Multi-Out payments
- Multi-Out same payments
- Asset transfer