Is STEEM the next most targeted cryptocurrency to airdrop new coins?
Airdrop is a kind of coin distribution technique that is applied to many altcoins. Auroracoin is one of the first airdrop coins that was given to Icelanders. Airdrop is an alternative to other coin distribution techniques such a Proof-of-Work (PoW) where coins are awarded to miners (i.e. a computer hardware), or Proof-of-Stake (PoS) where coins are awarded to coin holders. Problem with PoS is that initially coins have to be distributed. Some coins such as PeerCoin started as both PoW and PoS. Some coin are sold in a crowd-sale and then moved to PoS. For example, NextCoin (NXT) is one of the first coins that began PoS after crowdsale.
Airdrop is an interesting concept since it can skip the stigma of both power-consuming PoW or ICO like crowdsale. Developers of airdrop coins claim it is a fair distribution technique. However, it can make rich richer, for examples, the most coins are airdropped on rich (large) bitcoin holders. For example, any hardfork of Bitcoin can be considered as airdrop since BTC holders get free hardfork coins (e.g. Bitcoin Cash- BCH) proportional to their BTC holdings. Recently, BTC holders are the beneficial of getting BCH, Bitcoin Gold, Super Bitcoin and numerous other hardforks. Other notable airdropped coins that related to BTC are Steller Lumen, BitCore, ByteBall etc. However, in case of some airdrop coins BTC has to lend for a period to get airdropped coin. Examples are ByteBall, BitConnect etc.
Other coins that are frequently targeted for airdrop are ETH, LTC, XMR, BTS etc. Bitcoin is the most airdropped coin at this moment. However, next big airdrop target could be STEEM. With SMT release, any business can be tokenized, gamified or monitized. Since STEEM blockchain is moving towards the millions of userbase through Steemit, DTube, Steepshot, DMania, DSound, Zappl and numerous other DApps, it will be a hot target for airdrop coins (i.e. SMT based coins). Since STEEM blockchain users are the most active social media consumers and creators, they are ideal host for airdrop due to their active participation.
Already, it is rumored that VICE will drop 400M VICE coins to STEEM holders. It is not clear whether Instagram like App APPICS will airdrop on STEEM holders. With recent price surge, STEEM is getting attention from Investors, Media and even top exchanges. Thousands of users, influencers, creators form other platforms are joining everyday. STEEM blockchain will soon reach 1M userbase, it can rise to 10M pretty soon due to network effect. Therefore, it could be a lucrative option of ICOs to airdrop on STEEM holders due to their active participation.
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Disclaimer: This opinion is not a financial advice, it my personal perspective and opinion. Please seek professionals for financial decisions.
Image sources: All images are open sourced (e.g. Pixabay) with Creative common license
Thanks for reading.
@riseofth
Cryptominer since 2013, occasional trader and tech blogger
STEEM is the next coin to go to the moon.
:)
Bring on the air drops! Now we can pay the bills without powering down...
Yes, SP can be several sources of income generator :)
Thank you. Nice article about airdropping. I don't know about LTC, never heard they dropped anything. :)
Thanks. You can check the history of airdrops at http://airdropalert.com/. However, one has to dig in.
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