What is Cryptocurrency?

A Cryptocurrency is a digital or virtual currency which uses cryptography for security. In words of Satoshi Nakamoto, who is the believed to be the founder of Bitcoin, Cryptocurrency is a Peer-to-Peer Electronic Cash System.

Cryptocurrency uses cryptography in order to secure and verify various transactions and to control new units which are being created in a specific cryptocurrency. It is a decentralized digital cash system, which doesn't have any control of server or central authority.

What is Blockchain?

Blockchain is a trustworthy digital ledger of cryptocurrency transactions which is programmed to record all the financial transactions. Here, all the completed blocks or transactions are recorded and added in a sequential manner. Each block consists of a cryptographic hash of the last block, a timestamp and transaction data.  It allows users to keep track of the various cryptocurrency transactions without central database. Here, each node receives the copy of the blockchain, which is download automatically.

Blockchain uses the Distributed Ledger Technology which is also being used in various different applications. Presently, Blockchain is mainly used for the purpose to verify transactions. However, one can use it to digitize, code and insert practically any document into the blockchain.

What is Airdrop?

Airdrop is a process in which cryptocurrency enterprise distributes new tokens/ coins to the wallets of some users free of cost. Airdrops are mainly done by Blockchain based startups in order to create awareness about their cryptocurrency projects. Apart from this, Airdrops can also be done by cryptocurrency exchange platforms and wallet services.

What is the process of Airdrop?

There are mainly two types of Airdrops:

  1. Surprise

  2. Declared

Already established blockchain based startups follow the first process for Airdrop. There are a wide number of airdrops being carried out by various popular crypto-startups. In order to get updated about the latest airdrops, you need to be aware of the community. To get details about the latest Airdrops, visit AirdropAlert.

In order to participate in Airdrops, you have to perform various different types of activities. When you complete all the task you qualify for the Airdrop. Later, when the final date arrives, the firm will announce the airdrop winners. To participate in actively running airdrop with the name Indie Party Exclusive Airdrop, visit this link.

Major reasons to carry out an Airdrop

Following the reasons to carry out Airdrop

1. To reward the loyal customers

Blockchain-based firm likes to provide a reward to the loyal customers on regular bases. Airdrops are the best way to reward all the loyal customers with fee tokens.

2. Create awareness about new Cryptocurrency

Without marketing, a new cryptocurrency will definitely fail. The craze of airdrops has been started since last 2-3 years. Any new cryptocurrency firm which wants to market their cryptocurrency in a new way, here Airdrops works at its best.

3. Generate Lead Database

Marketing is basically done to generate leads. Various organizations focus on creating proper leads which help to drive marketing campaigns.

For latest Airdrops alerts on Telegram, join AirdropAlerts Telegram Channel.

Which Tools are required to participate in Airdrops?

  1. An Active Ethereum Wallet

  2. A Telegram account

  3. A Twitter account

  4. An email address

What is a Bounty?

Bounties are mainly the simple tasks or jobs which are mainly created by the coin developers. A user which completes these tasks, will be rewarded with coins. For more info, visit bountiesalert.

This article has been published by Guest Blogger Girish Vidhani for Cryptoground.