What is a token burn in cryptocurrency?

Token burning is a process in which a cryptocurrency project deliberately removes a certain number of tokens from circulation, effectively reducing the total supply. This is usually done by sending the tokens to an address where they cannot be accessed (often called a “burn address”). Token burns are typically used as a deflationary mechanism to help increase the scarcity of a cryptocurrency, which can, in turn, increase its value. Token burns can occur as part of a scheduled event or in response to certain conditions, such as a percentage of transaction fees being burned. It is a common strategy among cryptocurrency projects to build trust and create value for token holders by reducing supply over time.