Wallet Provider Blockchain Is Backing Crypto Giveaways In a Big Way

"Airdrops are good for crypto users."

Those are the unequivocal words of cryptocurrency wallet and data provider Blockchain in a new white paper that sets out why it believes token giveaways can be beneficial for both individuals and the crypto ecosystem, while announcing a new program aimed to assist approved projects with token distributions "As a force for good."

"Airdrops, on the other hand, provide a free and transparent way for anyone with an internet connection and a computing device to obtain cryptoassets at no cost," according to the white paper.

It goes on to argue that airdrops can easily reach millions of individuals around the world, can help with financial empowerment, and can boost the wider crypto industry via increased adoption.

Backing up that belief, the company is today announcing its Blockchain Airdrops program - a way of helping crypto projects reach Blockchain's millions of wallet holders, and providing a more secure way for users to receive cryptocurrencies.

"We think airdrops have the power to decentralize networks without the investment risks inherent in ICOs and the complexity inherent in mining. Using Blockchain Airdrops, crypto creators can supercharge network effects and crypto users can try out new tokens for free. It's a win-win for the ecosystem".

"Failure to ensure broad distribution would defeat the purpose of the airdrop."

It adds, airdrops can also be targeted at "Network influencers and connectors, individuals or institutions" in order to help bring about wider crypto adoption and use.

An airdrop should also be conducted in a "Transparent and deterministic manner," and be free from "Alteration or manipulation."

"Historically, airdrops have met with mixed success. We took the most effective airdrop elements we've seen, eliminated the ineffective ones, and added some novel thinking of our own. That's how we developed our Guiding Principles," said Santori, adding that the company is now "Actively considering" token projects that reflect its guiding principles.