Airdrops are becoming increasingly popular in the cryptocurrency space, allowing investors to create awareness and bring new users into the fold without putting additional strain on wallets or exchanges.
The concept of an airdrop is simple enough, but how do you make one work for any currency?
It’s time to take a look at how Cosmos Blockchain makes it happen with their own token (ATOM) and through third party partnerships as well.
What is an airdrop?
An airdrop is a distribution of a cryptocurrency token or coin, usually for free, to numerous wallet addresses.
Airdrops are primarily implemented as a way of gaining attention and new followers, but they may also be used to distribute the tokens of a new cryptocurrency project to its community.
What is an airdrop the Cosmos Blockchain ?
The Cosmos Blockchain is making airdrops work for any currency by allowing any token that goes on its network to distribute airdrops.
This means that any project built on the Cosmos Network can easily implement an airdrop without having to go through the hassle of setting up their own distribution system.
How do ATOM airdrops work?
How do you qualify for Cosmos airdrop?
- The Cosmos network is powered by the Tendermint Core consensus engine.
- Tendermint Core is a Byzantine Fault Tolerant (BFT) state machine replication engine that can secure any blockchain.
- It works by validators taking turns proposing and voting on blocks, with the votes used to finalize the block.
- The Tendermint Core consensus engine makes it possible for different blockchains to interoperate with each other through the use of an Inter-Blockchain Communication (IBC) protocol.
- This protocol allows for the transfer of tokens between different blockchains that are powered by Tendermint Core.
- A key part of the Cosmos ecosystem is its decentralized exchange, which is built into the IBC protocol.