TAGCOIN BURN

Coin burning is the process by which digital currency miners and developers can remove tokens or coins from circulation, thereby slowing down inflation rates or reducing the total circulating supply of coins. Tagcoin will be burned or removed from the active circulation every month by the protocol. The amount of Tagcoins to be burned is decided by the proceeds collected from the monthly #hashtag auction event. The protocol will auction 30 #hashtags every day for which participants can pay with Tagcoins only. The Tagcoins collected through this process are sent to a burn contract which destroys these Tagcoins. The burn process helps reduce the Tagcoins from the active circulating supply. This process can have a positive impact on the long term valuation of the Tagcoins.