Proof of Burn (PoB) is a consensus mechanism used to secure and validate transactions on a blockchain. In this process, participants “burn” or send a certain amount of cryptocurrency to an unspendable address, effectively taking it out of circulation.By burning coins, users demonstrate their commitment to the network and gain the right to mine new blocks or participate in decision-making. This mechanism helps prevent spam attacks and incentivizes users to invest in the network’s long-term success.The concept operates on the idea that by sacrificing value, users show their investment in the future of the blockchain. This can lead to a more stable and committed user base, as those who burn coins are less likely to engage in malicious activities that could harm the network they are invested in. Overall, Proof of Burn balances participation and resource allocation, creating a space where users are motivated to contribute positively to the network.