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STARTER INFORMATION

With strict capital controls in place by most countries to control the flow of money and charge high taxes, cryptocurrency gained usage in circumventing capital controls and taxes, leading to an increase in demand. Cryptocurrency has been able to present an easy to use digital alternative to fiat currencies. Offering frictionless transactions and inflation control, investors have been prudent enough to add these currencies in their diversified portfolios as an asset, as the size of the market does not represent a systemic risk. Cryptocurrency employs the use of cryptography that assures high-security processes and verifies transactions personal to each user. Hence, counterfeiting and anonymous transactions are impossible to achieve.

While this revolution is gaining wide acceptance, BURNY, a deflationary cryptocurrency that is an ethereum token utilizing the erc-20 based blockchain infrastructure has arrived. It is a social experiment and a financial case study aiming to measure the utility of a deflationary currency.

"Cryptocurrency is a type of digital currency that uses cryptography for security and anti-counterfeiting measures. Public and private keys are often used to transfer cryptocurrency between individuals.

As a counter-culture movement that is often connected to cypherpunks, cryptocurrency is essentially a fiat currency. This means users must reach a consensus about cryptocurrency's value and use it as an exchange medium. However, because it is not tied to a particular country, its value is not controlled by a central bank. With bitcoin, the leading functioning example of cryptocurrency, value is determined by market supply and demand, meaning that it behaves much like precious metals, like silver and gold.

Cryptocurrency transactions are anonymous, untraceable and have created a niche for illegal transactions, like drug trafficking. Because the currency has no central repository, law enforcement and payment processors have no jurisdiction over bitcoin accounts. For cryptocurrency supporters, this anonymity is a primary strength of this technology, despite the potential for illegal abuse, as it enables a shift in power from institutions to individuals."

With that being said, Burny's purpose is not to be utilized for daily transactions, but rather as a decentralized boundary against traditional inflationary means

Now that I have your attention, let’s get right to it.

What exactly is BURNY?

As depicted earlier and as indicated on the official website of Burny, BURNY is a deflationary cryptocurrency that is an ethereum token utilizing the erc-20 based blockchain infrastructure. It is a social experiment and a financial case study aiming to measure the utility of a deflationary currency.

The project aims not to show new gimmick to deflationary tokens, but to attest the value of what can be done by creating an influential community culture, growing strategic partnerships, along with quality platform development. Building a structure and culture of equitable and transparent distribution is one of the ideas that the founders of the Burny token arrange this.

Burny is a social experiment, but it is also a community with robust organizational culture, a note of inclusion and diversity, and shared community goals. These factors, along with quality planning by the team for dApps and partnerships with other promising projects, will make Burny a great project to be a part of.

How It Works?

This project's purpose is not to be utilized for daily transactions, but rather as a decentralized boundary against traditional inflationary means. Within a system of immutable smart contracts and endless burning, Burny is the world's hyper self-burning cryptocurrency.

There were initially 10,000,000 Burny in existence.

Each time a Burny is transferred, 5% of the transaction is destroyed.

There will never be newly minted Burny.

Token Details

Project: Burny

Ticker: BRN

Burn Rate: 5% per transaction

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Token Allocation

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50% Community

30% Development/Marketing

20% Team

Token price: 2.50 USD/BRN

Contrary to most of the crypto-currencies constructed on the blockchain, which are either inflationary or have a fixed number of supply, Burny is designed to be deflationary. With a fixed and an initial quantity of only 10 million tokens, BRNs supply will decrease rapidly with the increase of numbers of users joining the ecosystem, burning more BRN tokens with its growing usage on the Ethereum Blockchain.

Burny is also known as a social experiment on how a community will put value and choose to use it. The operation commences with 10,000,000 tokens. The number of tokens is then below the 10 million starting point because Burny is a deflationary currency. It deflates at a 5% per-transaction rate.

The project aims not to show new gimmick to deflationary tokens, but to attest the value of what can be done by creating an influential community culture, growing strategic partnerships, along with quality platform development. Building a structure and culture of equitable and transparent distribution is one of the ideas that the founders of the Burny token arrange this.

ROADMAP

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Be a part of this incredible project. Download the whitepaper for the full scoop.

Till next time…

For more information, please visit:

Website: https://burny.io/

Telegram: https://t.me/Burnycommunity

Twitter: https://twitter.com/BurnyToken

Facebook: https://www.facebook.com/BurnyToken

Reddit: https://www.reddit.com/r/BurnyToken/

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Author: Cryptoholical

My Bitcointalk Profile: https://bitcointalk.org/index.php?action=profile;u=2487106

Disclaimer: This article was published in terms of the bounty campaign. I am not a project team member or its representative but a supporter of this incredible project.