Stellar (XLM) Becomes Fourth Token To Join The Wallet

Irving Hamilton
November 9, 2018

In fact, this is the largest airdrop in the history of crypto and likely the largest consumer giveaway ever.

The world's sixth largest cryptocurrency according to rankings from coinmarketcap has joined Bitcoin, Ethereum and Bitcoin cash to become the fourth cryptocurrency listed on UK's wallet.

The wallet company revealed that it is giving out free stellar lumens rather than other popular cryptocurrencies because the network can handle large-scale usage.

Stellar Lumens is recovering strongly, with a 3% gain on the day and nearly 20% over the week XLM is one of the market's top performers right now. The Blockchain Wallet also announced that they have 30 Million users using their service - and that this is their way of saying thank you.

Airdrop is the process where a cryptocurrency business distributes cryptocurrency tokens to the wallets of some users free of charge. 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". Its token, XLM, enables quick, low cost, worldwide transactions, even when millions of people are using it at once.

Jed McCaleb, the co-founder of the Stellar Development Foundation, believes airdrops can be a powerful tool when building the cryptocurrency ecosystem and boosting mainstream adoption. The announcement came soon after the People's Bank Of China (PBoC) made public a financial report labeling all ICOs, tokens and even Airdrops as illegal.

Man dies after eating slug
Multiple sclerosis , which his father had, was also feared to be causing his symptoms before being ruled out. Doctors later diagnosed him with rat lungworm , which usually affects only rodents.

The goal of the giveaway is to raise Stellar's profile among wallet holders and generally promote the technology.

Stellar is now the sixth largest cryptocurrency with a market cap of around $5 billion. It is also partnering with charity: water to make donations in support of their mission.

"We believe airdrops are central to creating a more inclusive digital economy", he said. He added that existing Blockchain wallet holders will get priority in the distribution, and that the company is reserving the right to modify the terms of the arrangement going forward.

Giving away lumens to their broad, multinational userbase will grow Stellar where we most want to see growth: at the frontier of crypto adoption. Our hope is to eventually have global citizens own and use lumens, in both developing and developed economies.

Blockchain now has over 30 million wallets under its "belt", with wallet holders from over 140 countries. For us, he will cover Bitcoin (BTC), cryptocurrency, and blockchain technology news.

Other reports by

Discuss This Article