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Chuck Reynolds
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Chuck Reynolds   My Press Releases

Types of Airdrops

Published on 11/30/2018
For additional information  Click Here

Understanding the Different Types of Airdrops

The term “airdrop” describes a distribution event
that occurs when a cryptocurrency decides to distribute tokens to users for any reason.

For example:

  • A distribution event that occurs after an ICO goes live and the smart contract for the ICO sends new tokens to the existing addresses of users who participated in the pre-sale. For example, one buys into an ethereum-based ICO, then on the airdrop date the token is sent to user’s wallets and they can then “add the token” to their Ethereum wallets (see the KIN and UKG ICOs for example).
  • A distribution event after a hard fork or the creation of a new token which results in existing coin holders getting “free coins,” but where the platform being used requires the distribution of tokens. For example, a fork on the Ethereum network that creates a new token on the Ethereum network or another coin’s network (see fork-airdrop hybrids like the Ethereum Classic Callisto Airdrop and the Loopring Airdrop for example).
  • A distribution event where tokens are given to existing holders as a reward for sticking with the cryptocurrency or as an incentive to get people to hold the cryptocurrency or a related token (see the WAVES Bitcoin Cash airdrop for example).

With the above in mind, we can say then that the term “airdrop” refers to an event where tokens not associated with addresses become associated with them, generally due to a person participating in a pre-sale (like with an ICO) or holding existing coins (like with some forks). However, with the above noted, sometimes the term “airdrop” is used loosely to describe distribution events regardless of the specific mechanics (like in the case with some forks that use the term “airdrop” in their PR).

Since there is a little bit of disconnect between how the term is sometimes used (especially factoring in how it is used on social media) and what the term means in a more pure sense, it is helpful to understand the different definitions. That is the gist. If you want to understand token airdrops (the kind where new tokens are associated with existing wallets), see: The latest crypto PR craze: ‘Airdropping’ free coins into your wallet by Venturebeat.com.

Airdrop Snapshot Block Height and Airdrop Distribution Date:

To read more on this subject, please click the following link..

https://markethive.com/group/cryptocoin/blog/understanding-the-different-types-of-airdrops

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