FIRST SELF-BURNING CRYPTOCURRENCY
BASED ON SMART CONTRACT
How it works
Boom Token is a social experiment. Blockchain gives us an opportunity to create this deflationary currency, and the deflation mechanism is fully based on smart contract. The basic rules are as below:
There were originally 1,000,000,000 Boom in existence.
Each on-chain Boom transaction completed, 1% of the transaction amount burned.
There will never be newly minted Boom.
Thanks to the power of smart contracts, Boom can exist autonomously and in perpetuity until they’ve all been burned. The beautiful nature of smart contracts in general is their ability to run on the global blockchain computer without intervention from humans.
When taking insight into bitcoin and litecoin supply halving history, you can find that destroying the liquidity may cause a higher value. Now Boom provides a whole new supply curve, which is much more radical. We cannot wait to see what is next.