Why would anyone want to burn their coins? How to prove that you really “burned” your coins?

If you don’t know what G999 is , welcome to read the previous article :

【G999】A new business opportunity and currency system beyond the advantages of Bitcoin

【G999 】The first and only cryptocurrency in the world that issues a transparent coin burning (Deflationary) Explorer

A deflationary model is a downward quantity reaction to each single block minting, aiming to lower the total supply and increase the demand. With G999 coin, for example, the fixed reward minting per block can guarantee a deflationary characteristic to its network as long as the usage is higher than the minted quantities.

The G999 deflationary explorer keeps inflation in check, and by design, the quantity of G999 is easy to follow and understand. In the G999 deflationary explorer you can transparently track through which of the services or products G999 coins were used for and therefore what fees were paid and burned for those transactions. G999 Deflationary Explorer: https://deflationary.g999main.net/

To put it simply, G999 adopts a deflationary model, and the handling fees generated by each transaction will be completely burned, commonly known as “burning coins”. Through this model, the total supply of G999 will decline for a long time and scarcity will increase.

Compared with the smart contract BNB burn, G999 is the current only cryptocurrency in the world that issues a transparent currency burning (Deflationary) Explorer

What is burning coins? One of the top 20 cryptocurrencies: Binance Coin (BNB) as an example

Since the popular cryptocurrency exchange Binance regularly burns its Binance Coins, we decided to figure out what the process means.

What is BNB coin burn?

BNB Coin burn is the process of reducing the overall supply of BNB through smart contracts. It is held every quarter until 100 million BNB is completely burned. In other words, Binance Exchange will eventually destroy 50% of the issued BNB. At the time of writing, the total circulation is 200 million BNB. The amount of BNB burned comes from the transaction volume of the quarter (approximately-three months).

The smart contract to burn BNB is transparent and can be accessed by any participant in the cryptocurrency market. All operations are recorded in the Ethereum blockchain as simple transactions, so they are irreversible and 100% public. At the end of each quarter, the Binance team will reveal the number of BNB burned , but only shows the announcement data and it does not show every completed transaction.

In the G999 deflationary explorer you can transparently track through which of the services or products G999 coins were used for and therefore what fees were paid and burned for those transactions. G999 Deflationary Explorer: https://deflationary.g999main.net/

G999 Deflationary Explorer: https://deflationary.g999main.net/

Every transaction is completely and fully transparent! Fully transparent! ! Fully transparent! ! !

Gold Standard Banking AG (GSB) is one of the world’s leading software, IT and blockchain groups

During a glamorous opening ceremony at the iconic “Salle des Arts”, Josip Heit, with his team, presented the G999, which is a unique electronic system, card device and app, inspired by the deflationary token economic model, which also enables a wide range of options, including a communication network that guarantees customers unprecedented security and privacy.

Not only with this in mind, GSB Gold Standard Group’s developments aim to launch further applications in the technology market that will be implemented in the G999 blockchain ecosystem, as well as an IPO (initial public offering) before the end of 2021.

The auditors, who are appointed by GSB Gold Standard Group, forecast a “future fair value of approximately 2 (two) billion US dollars” in this context. The CEO added: “Our group already has more than 200,000 users in our eco-system and 50,000 active members. We expect up to one million users in our Eco-System by the end of 2021. With this huge number, there is a very high demand in our Eco-System, which will secure the future of GSB Group’s technology.”

This shows that the potential of G999 is unlimited!

For more details, ask Peter Wang: https://peterwang.soci.vip/

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For more details, ask Peter Wang: https://peterwang.soci.vip/

【G999 related international news】:

https://forbes.mc/article/enjoy-the-great-future-of-digital-era

https://www.taiwannews.com.tw/en/news/4025268

https://sg.news.yahoo.com/g999

https://www.realwire.com/releases/GSB-G999

https://thepaypers.com/cryptocurrencies/gsb

https://www.marketscreener.com/news/G999

https://www.i24news.tv/en/news/gsb

https://www.europapress.es/g999

It’s time to grasp the pulse of this rapidly changing era, make the right choice at the critical moment, and get faster progress and a better life.

For more details, ask Peter Wang : https://peterwang.soci.vip/

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