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Waves, a major custom tokens blockchain valued at more than $310 million and currently the 44th-ranked cryptocurrency overall, has successfully turned itself into the most efficient and low-cost platform for airdrops — thanks to its top-of-the-line infrastructure and unique scaling solutions.
Initial coin offerings once reigned supreme in the cryptocurrency space – but with increased regulation, the heyday of ICOs is likely coming to an end. However, when the old goes out, the new comes in, and airdrops are the new hot topic in the industry.
In cryptocurrency, the term ‘airdrop’ refers to the strategy of distributing newly-created tokens to a group of users of another major digital asset in an attempt to instantly gain both a user base and an active community.
Bitcoin’s numerous forks have famously operated this way. Bitcoin Cash (BCH) was airdropped to existing Bitcoin (BTC) holders by using the same private keys and addresses on a new blockchain – though Bitcoin is far from alone in this practice.
A whole slew of initiatives have chosen to provide existing coin communities with an airdrop of tokens in an attempt to persuade and incentivize them to utilize a new blockchain project. Beyond the ‘fork’ strategy, a group of developers are able to create a blockchain token and ecosystem on top of smart contracts or a ‘2.0’ protocol like Waves, Ethereum, or Cardano, and simply distribute tokens to all of the host blockchain’s existing users.
