Crypto wallet startup Blockchain announces support for Stellar lumens

Stellar's XLM ascends despite strong pull by a low volatility market

The airdrop will be worth $125 million in Stellar lumens (XLM), and it will be exclusively offered to members of Blockchain. Now, Blockchain.info also intends to integrate Stellar into their crypto wallet.

Blockchain also said that the main benefit of crypto airdrops for consumers is that they are able to "test, trade, and transact" unfamiliar crypto assets without having to mine or invest first.

The intent of this give away is to popularize Stellar Lumens (XLM) and attract attention from wallet holders to the technology and company itself. Meanwhile, the Ethereum and bitcoin networks too can handle such transactions would be at risk of increase transaction processing fees for the entire network.

The team at Blockchain wallet states that once identity has been verified after signing up on the wallet, $25 worth of XLM will be distributed to each individual. The PBoC unwillingly advertised Airdrops as a way to promote free cryptocurrencies and crypto assets, which opened the way for companies such as Stellar to announce huge Airdrops in the market, thus taking advantage of the news generated by the PBoC.

Stellar Development Foundation co-founder Jed McCaleb said in the release that the foundation believes airdrops are key to building a "more inclusive digital economy".

Sending lumens for free is an invitation to communities to design the services they need. Our hope is to eventually have global citizens own and use lumens, in both developing and developed economies. "By working with Blockchain to increase the availability and active use of lumens on the network, we will increase the network's utility by many orders of magnitude". "By working with Blockchain to increase the availability and active use of lumens on the network, leveraging their nearly 30m wallets, we will increase the network's utility by many orders of magnitude".

We're also partnering with a number of organizations on this airdrop, including the Stanford d.school's emerging tech initiative, Code.org, and Network for Good, who share our vision for using this transformational technology to build a better future. Though the full details are not available right now, The Block reports that additional information will be available in the "coming weeks". Blockchain company provides cryptocurrency digital wallets for retail investors around the world. Recently, the company raised over $70 million in a funding round led by Lightspeed Venture Partners and Google Ventures.

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