I’ve been doing a lot of thinking about NFTs and was wondering how to go about creating a public provable burn address to send redeemed/needing to be removed from the useable Universe NFTs to?
1 Answer
You could use something like tz1burnburnburnburnburnburnburjAYjjX.
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2Is this a real vanity address I would be creating, or does sending to a non-existent address that conforms to the character limits makes it a verifiable burn because no one would have the private keys due to them never being generated to begin with? If that’s the case, then I would imagine there wouldn’t be a public burn address that could be monitored for incoming transactions, rather they would have to view the transaction initiation from my sender address. Am I anywhere near the ballpark with this?– TezteesCommented Jan 11, 2021 at 20:54
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1It is a valid address that nobody controls, No one can even reveal a public key for it. > no one would have the private keys due to them never being generated to begin with? Exactly. Commented Jan 12, 2021 at 15:41
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2It's impossible to prove that no one controls that address, isn't it? I think locking on smart contract would be better as it can be proven that no one can withdraw funds from the contract.– GroxanCommented Jan 13, 2021 at 21:22
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1It's impossible to prove with certainty that no one controls that address, but the odds of someone knowing the preimage of this hash are astronomically low. On the same order of magnitude as guessing someone's private key. If an adversary can generate hashes like this, we have far more serious problems to worry about than the proof of burn address.– Arthur BCommented Jan 14, 2021 at 13:11
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Yes, of course. I'm just saying that locking funds on a smart contract would give you 100% certainty that the funds are no longer available.– GroxanCommented Jan 14, 2021 at 20:18