One of the largest digital wallets in the world, Blockchain, is giving away millions worth of Stellar (XLM) via an airdrop. The goal is to incentivize mainstream adoption with free assets, as revealed via a blog post. This airdrop is also meant to promote the company’s addition of XLM to its listings, and to celebrate close to 30 million wallets registered.
The post is written by Peter Smith, CEO of Blockchain, who states:
“There are so many ways we could say thank you to our 30M … Wallet users – but we narrowed it down to 125 million. Starting today, in celebration of adding full support for XLM stellar lumens token] in the Blockchain Wallet, we’ll begin giving away $125,000,000 of Stellar (XLM) to YOU, our users.”
Stellar (XLM) Airdrop the Largest in Cryptocurrency History
The website claims this giveaway is the largest airdrop in the history of cryptocurrency. Wallet holders will find the coin in their holdings later this week.
“We’re starting with Stellar because its network is built for scalability,” reads the post.
The XLM currency is technically called Lumens, while the network is called Stellar. Lumens are similar to Bitcoin (BTC) in that they are both units of currency.
However, unlike Bitcoin — whose network often struggles with congestion — Stellar is known for its scalability. The system can handle millions of transactions at once and can create custom tokens to represent any physical or virtual asset.
Suggested Reading : Learn what we believe to be the best wallets in cryptocurrency.
Blockchain is also pairing with other organizations to utilize this emerging technology to promote the common good. Stanford d.school’s Code.org and Network for Good make up two of these partnerships, while the company will also work with Charity: Water for donation purposes. Details on these collaborations will be revealed later this year.
“The strength of any network is derived from innovation,” says Carissa Carter, director of Teaching and Learning at Stanford d.school. “We are excited to join Blockchain on this airdrop to empower some of the most brilliant and creative minds to start experimenting and building on Stellar’s network.”
Speaking to Yahoo Finance, Smith compared this giveaway to that of PayPal’s early practice of paying customers to use its services.
“It certainly worked. This is probably, adjusted for inflation, about the same level,” says Smith.
The CEO denied allegations that Blockchain was simply paying customers to use the platform, arguing that the platform was instead offering incentives. The collaboration is also intended to introduce users to more “high quality coins.”
Users will likely be glad to hear that Blockchain has no investment in Stellar, and the company issued a “trading blackout” for employees when talks started. The blackout ended on Tuesday, and Smith reportedly plans on investing more in the asset.
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