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Crypto wallet startup Blockchain announces support for Stellar lumens

Nov 07, 2018 06:10 am UTC

Crypto wallet provider Blockchain has announced that it is adding full support for Stellar lumens (XLM) to its wallet, which it is kicking off with an airdrop of stellar tokens worth $125 million.

In its official announcement, Blockchain said that it chose Stellar as its network is built for scalability. It said:

“Its token, XLM, enables quick, low cost, worldwide transactions, even when millions of people are using it at once. Stellar can even create custom tokens representing real-world or virtual goods and services. Lastly, Stellar has a world class development community and a vibrant, functioning ecosystem.”

Blockchain Airdrops, according to Blockchain, are beneficial for both crypto creators and users – for crypto creators, it enables them to drive decentralization and adoption for new networks; for users, it allows them to test, trade, and transact with the new crypto assets without the need to buy them or mine them.

“With the launch of the Blockchain Airdrops program, you can count on your Blockchain Wallet as a place to learn and discover new assets, too - all for free,” it said.

Blockchain said it is partnering with a number of organizations on Stellar airdrop, including the Stanford d.school's emerging tech initiative, Code.org, and Network for Good. It is also partnering with charity: water to make donations in support of their mission.

CoinDesk reported that the company will distribute $125 million in Stellar lumens to its users who sign up for the airdrop. The first batch of recipients will receive tokens within the week. However, Blockchain has not disclosed the amount of XLM that will be dropped to each wallet.

“We aren’t keeping a single XLM for ourselves. We’re giving them all away. That’s a lot of 0s to distribute. In fact, this is the largest airdrop in the history of crypto and likely the largest consumer giveaway ever,” Blockchain said.

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