creating new burn addresses to trace used up batches

+1 vote

I was wondering if it's possible to create new burn addresses, or something equal to a burn address, to trace which actors in my network have been "using" a certain asset, for example a quantity of their chemical stock.

How do I do this? Or do I need to do something with creating new regular addresses..

With kind regards,
asked Jul 31, 2018 by James

1 Answer

+1 vote
It seems only one burn address is generated per chain.

Using another address is fine, but there is no proof that that address is a 'black hole' since someone could own the corresponding private key, and transfer the assets to other addresses. Your stakeholders will have to trust that the key for the new burn address has been destroyed.

It is probably possible to construct a valid public address (like a vanity address) that contains a pattern which would be almost impossible to have generated via traditional keypair generation process. This may give your stakeholders more confidence that you don't have the private key.
answered Aug 1, 2018 by alexb