Why Waves is Best for Airdrops

in #cryptocurrency5 years ago (edited)

Why Waves is Best for Airdrops

Imagine you’re building a house. You could transport the bricks in small batches in the boot of your car. Or you can hire a lorry for the purpose. Either will work, but only one was designed to do the job quickly and effectively. Which do you choose?

Airdrops have become an important element of the crypto landscape and for good reason. By distributing small amounts of tokens to many different users for free, you instantly gain a very large potential userbase. These recipients will generally want to find out more about the project. They may become larger buyers in due course, as well as some of your first testers, end user, ​ and advocates for the business. All of this can be gained in return for allocating a small proportion of your token supply in advance, plus the cost of airdropping them to hundreds or thousands of blockchain addresses. All you have to do is distribute them.

But that’s the thing. Distribution. And it’s not as easy as you might think.

Big airdrops, big headaches

Here’s the thing: you can conduct an airdrop on any blockchain — just as you can theoretically transport your building supplies with any mode of transport, whether that’s a car, lorry, bike or SegWay. There are just good reasons why you might not want to.

There are a few factors to consider. Obviously,​ it needs to be a platform that supports custom tokens. No major problem there: even bitcoin supports assets (via the Omni protocol, for example). But then you’ve got to send them all out to different addresses, using whatever criteria you choose for recipients.

Naturally,​ you want your send process to be fast and as low-cost as possible. You don’t want to be competing for block space, and you don’t want to be paying high transaction fees. That makes something like bitcoin/Omni a non-starter — imagine having to pay many tens of thousands of dollars or more to get the job done. And if you’re sending thousands of transactions, you can forget it: they’re going to be stuck in mempool until you’re grey-haired. Ethereum’s a better option, and plenty of airdrops do occur on the platform. But fees are still comparatively high, and the network is not designed for large throughput (just ask the Crypto Kitties).

Then there are some of the other problems that can occur if you misuse a blockchain that’s not really built for the job. A few years ago there was an initiative to pay dividends to stakers on BitcoinDark (a privacy coin that was built on a proof-of-stake clone of bitcoin). The first time a large number of transactions was submitted via a script, the network forked. Oops.

By the way, there's a great online service for monitoring and listing airdrops — Airdrop Alert, you should definitely check it out.

Why Waves is Best for Airdrops


So this is where Waves comes in. You can conduct airdrops on any blockchain. A handful of them can cope with that reasonably well. But there’s only one that has specifically been designed to support the kinds of transaction volumes that a large airdrop requires.

Waves’ consensus algorithm is Waves-NG, which is capable of processing an order of magnitude more transactions than most other blockchains — quickly and at low cost. Standard fees are 0.001 WAVES per transaction (around $0.005 right now) but it gets even cheaper thanks to the mass-pay function, which is purpose-built exactly for this reason.

That makes Waves an incredibly efficient and low-cost way of conducting huge airdrops. The proof? Waves processed over 330,000 transactions in a single day on 26 December 2017. 170,000 transactions were confirmed within just 20 minutes, and it is theoretically possible to process up to 10 million transactions per day. Job done in one go.

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Most ICO of today having an airdrop which adds burden to the blockchain traffic and good thing we have best option - wave

I agree on this point for sure

Waves is awesome! I expect it to go 10x very soon!!

great project

I do not know much about wave even though I have downloaded the wallet and remember liking the built in exchange. This article has given me reason to findout more.
You never know what you don't know

very useful post that is need for the airdrop lovers

I hold Waves since June last year, in my opinion it is one of the most undervalued Coins at the Moment.

wow times sure have changed I still hadn't known how airdrops worked and information based around it..you just clarified alot for me. Thanks

Hello! We are delighted to help.

Best wishes,
Waves Community.

And that's one of the reasons, why we at DropGen, are seriously considering the Waves Platform in order to build our Bounties & Airdrops automated manager !

Totally agree

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Waves itself is a big project :) ... It's a little bit similar to Ethereum, but can handle much more transactions per second ... and it's for example easier to release your own tokens (everyone can do it within few seconds and doesn't need special programming skills) ... and they have a nice DEX!

Waves is a very nice project and has huge potential ... and I also think it's at the moment very undervalued ... With Waves you cannot only do huge airdrops, you also have a nice working DEX (decentralized exchange!!!) integrated into your save Wallet, waves handled already over 400 Tx (in real life, not only testnet) and you can earn passive income with staking. The best thing with staking at waves: you don't have to run your wallet and computer the hole day (at many other coins you need to do this) while staking! You can easily and savely lease your waves to a node and get your stakes! Very nice option! And you can deposit and withdraw Fiat to the DEX!
@wavesplatform: Thanks for the nice options you gave us with waves! And: I think you should do more promotion (especiatelly for the DEX), because the most people don't know how good you already are! Many projects with far less and worse progress are known better than waves. I think waves is very undervalued at the moment (especially in comparison to other projects (who only talked much till know, but didn't deliver many good stuff)).

Hello, @dentaby! Thank you for your review. We appreciate it so much!

Best wishes,
Waves Community.

I invested 50 % of my portfolio in waves , till now i`m very proud of my decision ... Waves my opinion will make another X5 till end of the year

Waves tokens are fake tokens because it is useless and built on fly , also the worst airdrops i have seen in waves based tokens , they send 2 or 3 or 5 tokens , its value under zero, HOWEVER , you can buy some tokens in millions with 0.01 waves and trade them in high profits

Hello, thank you a lot for your feedback, we appreciate it. It would be great if you could introduce a motion for improvement of Waves Platform and Waves products here https://forum.wavesplatform.com/c/ideas.

Best wishes,
Waves Community manager.

Great article, thanks for sharing. I've smashed the upvote button for you! I've never considered Waves as a platform for airdrops....

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nice information.....thanks for sharing this

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Waves processed over 330,000 transactions in a single day on 26 December.Wow that is something really amazing.

Very informative post. Great advice. Thank you so much for sharing. Upvote and Resteem done.

Well then, let's get started

It's transaction records are forcing me to believe "Waves is Best for Airdrops"..

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wow will definitely try it out, my business revolves around airdrops for now.

Great information. Im a bitcoin newby so the airdrops are new to me. Thanks for the explanation on platforms, cost and speed. This is a little bit of higher level information but useful.

Where can we find more details on your mass-pay function?

Hello, the article with more details and instructions is here https://support.wavesplatform.com/ru/knowledge-bases/2/articles/18908-beta-wallet-how-to-distribute-a-token-using-mass-transfer

Best wishes,
Waves Community manager.

This is such an informative and amazing content. It's quite useful really. Thanks for sharing.

WAVES is a good investment. I have faith in it :)

This post has received a 55.65 % upvote from @boomerang.

I think waves are great for us to use. Especially with the airdrop program. Where for beginners waves users can enjoy token waves. So they will be interested to invest in token waves. Good work for team waves.

This post, with over $50.00 in bidbot payouts, has received votes from the following:

promobot payout in the amount of $97 STU, $171 USD.
upmyvote payout in the amount of $62 STU, $109 USD.
appreciator payout in the amount of $59 STU, $104 USD.
therising payout in the amount of $59 STU, $104 USD.
boomerang payout in the amount of $51 STU, $90 USD.

For a total calculated bidbot upvote value of $328 STU, $578 USD before curation, with approx. $82 USD curation being earned by the bidbots.

This information is being presented in the interest of transparency on our platform @wavesplatform and is by no means a judgement of your work.

yes wave is the latest rave of the moment...tired of btc fluctuating lol. not when i forgot my password and sweat before i got it recovered lol. if the group on https://venomthreads.com hadn't got my ass saved btc will hanging in the air lol. Team Wave.

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Thanks could you please add the github link for waves on the footer of your articles.

Hello, you're welcome. Here it is the link to GitHub https://github.com/wavesplatform/Waves/wiki/Mass-Transfer-Transaction

Best wishes,
Waves Community.

Cool thanks appreciate it. I will be following you.

Awesome article - opened my eyes little bit more on Waves

very good platform but there is something irritates me. i have no idea but.. really. i cant use DEX platform. something different. strange..

Hi, great post, worth a follow. Looking forward to some more of your stuff.

What surprises me most is that the volume on WAVES is only abut 1mln per day. Everybody talks about DEX nowadays, but Switcheo was able to get 1mln in trading just in a week, whereas WAVES even though a nice platform was there for a while, but still struggling to get an audience. I guess this airdrop is the right decision to acquire new followers. Good luck to Sasha and his team.

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Hmm.... I think I have to start making use of waves. How can I go about it?

Hello, it is a sensible decision. You can start with this set of useful articles https://support.wavesplatform.com/en/knowledge-bases/2/articles/4228-get-started-with-waves

Do not forget to join our Telegram group https://t.me/Wavescommunity to get the answers for all your questions.

Best regards,
Waves Community.

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Korean Translate Ver.
[블로그 번역] 에어드랍용 플랫폼으로 Waves가 최고인 이유

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