Identity solutions can fix the shortcomings of airdrops, according to Ethereum co-founder Vitalik Buterin.
Airdrops are a fascinating initial use case for ZK / blockchain-based identity / credential / attestation frameworks. The goals of an airdrop are:
(i) distribute to community members [and not randos who will all immediately sell](ii) reward contributions to the project
(iii) be…— vitalik.eth (@VitalikButerin) August 28, 2024
Buterin was referring to zero-knowledge proof technology, which allows cryptographic proofs to be used to improve privacy.
Ethereum co-founder notes that the airdrop’s goal — distribute tokens to real community members, not farmers, reward contributions to the project and be sufficiently egalitarian.
When asked about the biggest obstacles to such an approach, Buterin said it is a multi-factorial entity that will evolve over time.
The Ethereum co-founder also noted that tokens do not necessarily have to be given away for free, and that selling them at a discount is also possible. For example, a community member’s contribution to the project can help determine the amount they can buy at a discount.
Stay up to date! Subscribe to World Stock Market on Telegram.
Source: Cryptocurrency
I am an experienced journalist and writer with a career in the news industry. My focus is on covering Top News stories for World Stock Market, where I provide comprehensive analysis and commentary on markets around the world. I have expertise in writing both long-form articles and shorter pieces that deliver timely, relevant updates to readers.
