To destroy coins is called in blockchain terms “Burning Coins”. In our system only approved “Minters” are permitted to burn coins. To promote an account to become “Minter” X Admin signatures are required.

Note: Usually coins are burned on the Coin to FIAT gateway. It is also possible to delete all minters so that coins cannot be burned anymore.

For AML reasons it is possible to lock coins for a period of time. Locked coins can only be transferred but NOT burned. Before you burn coins you can check with the command CanBurn if the coins actually can be burned or if they are locked.

The burn command is defined in the settlement namespace and requires 3 parameters.

SenderAddress: The “Minters” address.

TargetAddress: The address the tokens should be burned from.

TokenAmount: The amount of token to be destroyed.

CoinName: Optionally the token name of the coin to be burned. If empty the default name will be used.

Password: Optionally the password of the minters key to unlock the account.

Contact us if you want your address promoted to a “Minter” account. Kindly note that CodeB is a testnet only.