Stellar News Today – Headlines for December 14

  • Spammers made their way to Keybase after Stellar revealed plans of 2B XLM give away.
  • Airdrop was a massive success as it brought in more numbers for Stellar and Keybase.
  • Partnership with Stellar blamed for an uptick in spam on Keybase.

Stellar News Today – It is quite normal for unusual activity to start just after the announcement of an airdrop. In this case, Stellar’s recent scheme caused such an activity. According to reports, spammers started showing up on the Keybase encryption app after Stellar announced that it will be initiating a giant airdrop on Keybase. The report comes during a period were digital assets once again retained their status as the world’s best asset class for the second consecutive year.

Keybase CEO: Airdrop Got More Numbers for Keybase and Stellar

According to Max Krohn, the CEO of Keybase, the airdrop was a huge success as it has achieved its aim of getting more numbers for both Keybase and Stellar. However, the only drawback is that at one point the cost of the scheme began to outweigh the benefits. It is clear that the third and final XLM airdrop will begin on Dec. 13. What was initially promoted as a 2B XLM give away scheme will now be a lot less than that figure. The total giveaway is 300 million XLM so far (which is approximately $16 million).

A crypto airdrop occurs when a company distributes tokens to several internet users believing that it will promote its brand. Since crypto is fungible and easily exchangeable, a crypto airdrop is the same thing as giving out fiat. Keybase has conducted a few airdrops, with the most recently done to benefit Blockchain user wallets.

Before Joining the Scheme, Keybase Ensured that User Accounts Went Through Rigorous Checks

According to the report, Keybase made user accounts go through several checks before they are allowed to join the recent airdrop. To pass the first stage, any account that was already functional before the airdrop began was assumed real. This plan worked well. However, the purpose of this for Keybase and Stellar was to bring in new people. The next pass opened access slightly further. Here, any new account that has been verified on GitHub or Hacker News would be permitted to be a part of the airdrop.

Keybase is an encryption app that ensures that encryption via PGP is made easier. Many people use Keybase for chat. However, it has built-in collaboration and developer tools, among a host of features. Encrypted communication is more reliable if the identity of users is verified, so Keybase uses various forms of social proof to increase confidence that accounts represent the people they claim to be. For example, Keybase has users cryptographically sign statements on other services to prove to Keybase that they are real.

 

Princess Ogono is a writer, lawyer and fitness enthusiast. She believes cryptocurrencies are the future. When she's not writing, she spends time with her adorable cat, Ginger and works out often.

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