Who is @null? What is a Burn coin in the crypto world? And how to set 25% beneficiary to @null? This Post Rewards Has Set 25% beneficiary to @null.

Hi, Steemian friends wherever you are. How are you, today? Hopefully, you are always healthy and productive on Steemit. Two days ago, I read a post about Steemit Engagement Challenge Week # 4 | Propose A New Steemit Project| Steem Burn by @rosz which invites the attention of the Steemit team. Steemcurator01 supports this initiative. i.e. Burn Steem.

Here are the comments.

You can actually burn STEEM by setting a beneficiary to @null.
Maybe we should encourage people to burn STEEM this way by giving more votes...?
Say 25% beneficiary to start.
#burnsteem25
source

What is burn in crypto world?

Coin burning is the process of permanently reducing coins in the market. Thus, the supply of circulating coins will also decrease. In terms, of coin burning is like a repurchase by shareholders to increase the value of shares in the capital market. We need to know that burning coins is not like burning objects. The process of burning these coins of course uses the burn function contained in the smart contract belonging to each coin. source

Alright. Before we send 25% beneficiary to @null, it would be nice if we know first who @null is.

Who is @null?

The @null account is a special account which no one has control over. This means that once money is transferred to @null it is locked away for ever. In a future hard fork we will remove the Steem Dollars, Steem, and Steem Power held by this account from the supply, but until then it is effectively gone. source

How to set 25% beneficiary to @null?

And here's how to set beneficiary to @null. It's not difficult. It's the same as the steps you take when participating in a contest that requires setting some % beneficiary for a community account. Well, for convenience, I will show in the form of pictures. We only need to follow the steps below!

• Click on Advanced settings.

• Then, in the words Who should receive any rewards? Click, Add account.

• Fill in the number 25 in the percent column and fill in @null in the column next to it (name of recipient).

• Then, click save.

• Done!

I fully support the #burnsteem25 program. To make it easier for me to find your posts, don't forget to use the hashtag #burnsteem25. Come on together, let's follow this latest initiative. This initiative will maintain Steem's price stability. And most likely Steemcurator01 curates posts that set 25% payout to null. However, there is no guarantee of getting a vote.

The conclusion, burning for crypto will keep its price in the crypto market. It happens because supply in the market is maintained. Meanwhile, crypto that is not burned is more likely to fall because no one controls the supply.

Cc:
@steemcurator01
@steemwomensclub