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Stellar Foundation Planning Biggest Airdrop in Cryptocurrency History

09 November 2018

"Giving away lumens for free is an invitation to communities to design the services they need", McCaleb continued.

In its official announcement, Blockchain said that it chose Stellar as its network is built for scalability. In fact, this is the largest airdrop in the history of crypto and likely the largest consumer giveaway ever. Blockchain has revealed the amount of XLM will be given in each of the giveaways.

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U.K-based crypto wallet provider Blockchain.com (formerly Blockchain.info), has officially added support for Stellar (XLM), one of the top cryptocurrencies in the crypto industry. "By working with Blockchain to increase the availability and active use of lumens on the network, leveraging their nearly 30m wallets, we will increase the network's utility by many orders of magnitude".

While some see this as a great way to bring new users into the XLM ecosystem, some Twitter users have criticized the requirement for users to hand over their identification, saying it contradicts the value of anonymity for crypto users. In addition, CEO Peter Smith said that the airdrop is created to "put users first" and allow them "to test, try, trade and transact with new, trusted crypto-assets in a safe and easy way". They let you test, trade, and transact with the next generation of crypto assets without having to buy them or mine them.

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Explaining the choice of Stellar for the airdrop, the blog says that Stellar's token (XLM) enables quick, low cost, worldwide transactions, even when millions of people are using it at once. Stellar can even create custom tokens representing real-world or virtual goods and services.

Stellar Development Foundation co-founder Jed McCaleb said in the release that the foundation believes airdrops are key to building a "more inclusive digital economy". Including the non-profit fundraising software Network for Good, Stanford's emerging tech initiative and the online computer science education system Code.org. It is also partnering with charity: water to make donations in support of their mission. Though the full details are not available right now, The Block reports that additional information will be available in the "coming weeks". "By growing the Blockchain community, we can help more people own and control their financial future".

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"Accessible to anyone with a Blockchain Wallet, the first batch of recipients will receive their lumens, Stellar's native digital currency this week - for free", said the company in a statement.

Stellar Foundation Planning Biggest Airdrop in Cryptocurrency History