Understand Bitgesell Burns
Understanding Bitgesell Burns Bitgesell has many burning mechanisms, including the Bitgesell wallet, the BGL main core, the inherent burn code for 90% of transaction fees, the dead wallet address, and Bitgesell Burning Day online event. The latter is a public event dedicated to burning Bitgesell coins by the community, especially while the coin is still very cheap. In the Bitgesell Network, as Emma Wu said in 11th May, 2020, on BitcoinTalk: "Bitgesell burning 90% tax fees is done during block validation by the node. The burn is implemented in the code. It is not by transfer to some burning address, it's in the core logic itself." Bitgesell has several interconnected burning mechanisms, which produce two types of burn actions: a) Automatic burns (coded into the blockchain) b) Voluntary burns (decided by holders or miners) Coded Burns Bitgesell differs from Bitcoin and other store-of-value coins by burning 90% of the transaction fees. This is coded into the prot