WTF are Snapshots, Airdrops & Faucets?

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Blockchain Snapshot

The blockchain has a record of all transactions and holders of that cryptocurrency. In the case with Ethereum, you can see all of the ZLA holders on Etherscan at any given moment in time.

While there are other purposes for a snapshot, we send ZLA holders our sub-token GD token every 3 months. You can learn more about the snapshot and GD token in this post.

Airdrops

In cryptocurrency, an airdrop is when you send multiple addresses cryptocurrency indiscriminately. Since you can find addresses on the blockchain (see Snapshot), you can then send those addresses cryptocurrency. Airdrops are often used as a marketing strategy and promotion when new tokens are created. Blockchain projects that do airdrops and distribute tokens this way hope to quickly acquire new users.

For people who are interested in receiving airdrops, they usually see it as an easy way to get “free money”. However, most of the time there are requirements for airdrops. For example, you are required to hold a certain token already in your wallet or to make social media posts to help promote the campaign.

Faucets

Like an airdrop, a faucet is a way to distribute, and receive free cryptocurrency. Unlike an airdrop, where you people send you free cryptocurrency, with a faucet you must go to the faucet webpage, and input your cryptocurrency address to receive money. There are usually time and supply limits for a faucet. Faucet sites attract high traffic, and it usually takes anywhere from 5 minutes to an hour for the user to receive free tokens.

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