Every Blockchain needs a consensus algorithm that both secures the blockchain and ensures it works efficiently.This algorithm is used to protect the blockchain from manipulation and ensures validity of transactions.Maybe u are familer with Pow which is used mostly for 1st generation of cryptocurrencies such as Bitcoin,Monero,Exp,DogeCoin or pos which is enabled on Cardeno ,Peercoin, dash and many others but Proof of Burn is a totally different case

If in Pow you only need to mine to earn and get the 30% of the coin price and in Pos you you would get profits only by staking as much coins as possible,in proof of burn you are required to burn to make permanently unavailable a select number of pow cryptocurrencies.So to use use power a burn you need to send the coins to an unspendable address or better known as an eater adress( The eater address is simply an address that is used to store coins that can’t ever be used again, or burnt coins) by locking the cryptocurrency there foreverer, this transactions will be recorded on blockhain to ensure that these coin cannot be spent.After the transactions is completed the user will be rewarded with a number of alternative coins

I know this sound a bit ridiculous why would anyone would burn the crypto who it has way much value then this alternative coins that you will be rewarded .We know the finnacial market runs on supply and demand so if the supply is low and the demand is high the price will rise and that's where proof of burn kicks in by helping you cut the supply, its a short-term loss in exchange for a long-term gain.of course I wouldn't suggest this method to anybody who has a small volume of coins or doesn't feel confident to act on it ,but if you have some volume and want to establish a place in the market this is a great to regulate the price of an asset