The process of removing a specific amount of cryptocurrency from circulation is known as coin burning. Developers and miners reduce their total supply as a result.
Sending cryptos to public addresses with unobtainable private keys is what coin burning entails. These addresses, also known as eater addresses or blackholes, render the coins useless. They do, however, allow for public viewing and peer verification on the blockchain.

Burning is a very good process that helps you reduce the amount of tokens and thus increase the value of each token.

Coin burning is a process in the cryptocurrency space where a certain number of tokens or coins are intentionally removed from circulation, thereby reducing the total supply. This practice is often undertaken by blockchain projects or cryptocurrency issuers to control inflation, enhance scarcity, and potentially increase the value of the remaining tokens. The concept is analogous to a company buying back and retiring its own shares in the traditional financial market.

Coin burning is typically achieved by sending the tokens to an address or smart contract from which they cannot be spent or accessed. This transparent method is often employed during initial coin offerings (ICOs) or token generation events to reassure investors of the project's commitment to limiting token supply and, in turn, potentially driving demand. While coin burning can influence a cryptocurrency's scarcity and perceived value, its success depends on various factors, including the project's fundamentals and market dynamics.