BOOM

BOOM (BOOM), a social experiment, is a self-burning cryptocurrency based on a smart contract. Cryptocurrency burning is when a fraction of tokens are sent to a wallet with no private key, making the tokens lost forever. Tokens are usually burnt to increase market value and reduce availability. Smart contracts are akin to regular contracts; however, rather than being composed on paper, smart contracts run on the blockchain in the form of protocols. BOOM token aims to offer a new radical supply curve.

BOOM (BOOM) token is a social experiment. BOOM is a deflationary cryptocurrency created with the help of blockchain. A deflationary token is one that decreases in the market supply with time. The deflation process is entirely based on a smart contract. With the power of smart contracts, BOOM token aims to exist autonomously and in perpetuity until all the tokens have been burned. Perpetuity is security that pays forever. The nature of smart contracts, in general, enables BOOM to run on the global blockchain computer without intervention from humans. According to the set rules, there seems to be no newly minted BOOM in the future ever.

There was initially one billion BOOM (BOOM) tokens in existence. One percent of the transaction amount is burned upon each on-chain Boom transaction completion.