Is it possible to 'issueless'?

+1 vote
If we create an asset such that the blockchain is essentially a ledger for that asset and who holds that asset, there will be times that we want to reduce the amount of the asset in circulation, in the same way that one can 'issuemore' to increase the assets in circulation i.e. we need to retire some of an asset or even all of that particular asset on the chain.
asked Apr 10, 2017 by anonymous

1 Answer

+1 vote

Once an asset belongs to a particular address, the asset issuer cannot forcibly take it away from that address. However the address holding it can publicly 'burn' it by sending it to the chain's burn address, which can be retrieved from the burnaddress field given by the getinfo command. The burn address has no corresponding private key, so it's provable that assets sent to that address cannot reenter circulation. Any node can see how much has been sent to the burn address by adding it with importaddress.

answered Apr 11, 2017 by MultiChain