In this method users permanently destroy a certain quantity of bitcoin in proportion to the quantity of altcoin to be demand. What is this method?

Proof of Burn (PoB) is a consensus mechanism where users permanently destroy (or "burn") a certain

quantity of cryptocurrency, such as Bitcoin, to gain the right to mine or acquire an altcoin. This

process proves commitment to the network and secures it by effectively sacrificing one asset to

obtain another.

Key Details:

Burning Process: In PoB, participants send a certain amount of cryptocurrency to an unspendable

address, effectively removing it from circulation. This act serves as proof that they have invested in

the network by reducing the supply of the original cryptocurrency.

Purpose and Use Cases: PoB is used by networks that want to incentivize long-term commitment and

reduce total supply. It is often seen in new blockchain projects that allow miners or users to trade

value in established currencies like Bitcoin for the native token of the new network.

Security: By requiring participants to destroy value, PoB helps prevent spam attacks and promotes

network stability.

Therefore, B. Proof of Burn is the correct answer, as it describes the method where users destroy a

certain amount of cryptocurrency to receive or mine another asset.