What’s a burn address exactly? I just mean that there is no way of spending it without actively destroying the private key. Basically the sender decides that it can’t be spend.
Login to reply
Replies (2)
Send it to a public key of which no private key is known, or cannot exist.
Yeah just create an address that is impossible to generate from a private key. E.g. - bc1iamaburnaddressHgLxD67NK… or something like it.
You could also do a 1 million year timelock or something. But if you don’t have some other lock on it based on a key that you probably don’t have, then there’s no way to really stop the key from being used & no way to verify the key doesn’t exist or was destroyed. The basic and common option is just creating a burn address, which just proves there was no chance the person generated it from a real/known private key, and thus no one can unlock it.