by: ELIZABETH GAIL
Blockchain, one of the most popular virtual crypto wallet companies in the world, is giving away $125 million worth of Stellar. The giveaway is set to be the largest of its kind.
Referred to as an airdrop in crypto parlance, the program will specifically benefit 30 million Blockchain users spanning over 140 countries. They will each receive $25 worth of Stellar Lumens coins.
According to the company’s statement, the program will contribute to the adaptation and decentralization of new crypto networks by encouraging users to embrace a wider variety of digital native tokens without having to buy or mine cryptocurrencies. To qualify, candidates must have a Blockchain wallet.
The crypto wallet provider says that it chose to start with Stellar’s XLM token due to the network’s scalability and low transaction costs without experiencing significant latency issues. Custom tokens representing virtual goods can also be created on the platform.
According to Blockchain, the Stellar arrangement allows the crypto firm to distribute coins via its network. Blockchain has stated that it will not receive any compensation for the use of its platform.
According to Stellar founder, Jed McCaleb, giving away XLM is one way of nudging cryptocurrency communities into taking part in the development of the network. The move will also increase the use of Lumens in transactions.