I used to burn bitcoin sending to a bogus address like 1111111111111111111114oLvT2
There is any equivalent confidential address for Elements/Liquid?
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2 Answers
destroyamount is the rpc call you are looking for
I would like to add something about this. destroyamount is indeed the function used to burn assets in elements, but I'm now using a watch-only wallet for some reasons, and I found out that destroyamount will fail with Insufficient funds error because obviously I don't have any UTXOs I can sign directly with the wallet, and there's no include_watching options like other wallet methods have.
The way to do that is then to use createrawtransaction and add an output with "burn" as the address, which is documented in the help message, but what is not very clear is that you can also add "burn" as an address in the output_assets object with the id of the asset you want to burn. This is not very well documented in the help though, that only advertise the "address" or "fee" keys.
Besides, I was also confused by the fact that the help message seems to ask for a string "hex" as value for the key "burn", but actually it is the amount as a float.
Anyway this should work, and allow us to create a transaction that burns some assets and can be signed on another device.
