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<h4><strong>According to Buterin, <a href="https://www.altcoinbuzz.io/?s=airdrops" target="_blank" rel="noopener">airdrops</a> represent a compelling initial use case for these emerging technologies. </strong></h4> 
<p>They align closely with the goals of developing robust blockchain identity and credentialing systems on the blockchain.</p> 
<h5><strong>Buterin: Airdrops Key for Testing Blockchain Identity Systems</strong></h5> 
<p>Buterin outlined several objectives for airdrops that closely match the aims of <a href="https://www.altcoinbuzz.io/?s=identity" target="_blank" rel="noopener">identity</a> and credential frameworks. He mentioned that:</p> 
<ul> 
 <li>Airdrops aim to distribute tokens to genuine community members rather than random individuals who might immediately sell them.</li> 
 <li>They seek to reward those who have made meaningful contributions to a project, recognizing and incentivizing their efforts.</li> 
 <li>Airdrops strive to be reasonably egalitarian, although some level of disparity is acceptable.</li> 
 <li>They aim to resist adversarial farming, where users exploit the system to gain unfair advantages.</li> 
</ul> 
<p><img decoding="async" class="wp-image-149226 aligncenter" src="https://www.altcoinbuzz.io/wp-content/uploads/2024/08/vcbvcnhgjjhguj-300x239.png" alt="" width="497" height="396" srcset="https://www.altcoinbuzz.io/wp-content/uploads/2024/08/vcbvcnhgjjhguj-300x239.png 300w, https://www.altcoinbuzz.io/wp-content/uploads/2024/08/vcbvcnhgjjhguj.png 392w" sizes="(max-width: 497px) 100vw, 497px"></p> 
<h6 style="text-align: center;"><strong>Source: <a href="https://x.com/VitalikButerin/status/1828727585204842867" target="_blank" rel="noopener">X</a></strong></h6> 
<p>These goals mirror the objectives of identity and credential frameworks, which are designed to ensure fair distribution, authenticate contributions, and prevent abuse. He also mentioned that for developers working on these frameworks, using token issuance through airdrops as a test case provides a valuable opportunity to refine their systems in a real-world, adversarial environment.</p> 
<h5><strong>More About Airdrops &amp; Web3 Identity</strong></h5> 
<p>Buterin also noted that giving away tokens for free is not the only viable method. Another approach is to implement discounted sales, where individuals can purchase tokens at a reduced price based on their verified degree of membership or contribution. This strategy helps distribute token supply more widely and rewards non-financial contributors while ensuring that buyers have a stake in the system. Techniques used for airdrops, such as discounted sales, serve to achieve similar goals of fairness and incentive alignment. <img decoding="async" class="wp-image-149227 aligncenter" src="https://www.altcoinbuzz.io/wp-content/uploads/2024/08/vcxvbcbnvnvbhghghg-223x300.png" alt="" width="510" height="686" srcset="https://www.altcoinbuzz.io/wp-content/uploads/2024/08/vcxvbcbnvnvbhghghg-223x300.png 223w, https://www.altcoinbuzz.io/wp-content/uploads/2024/08/vcxvbcbnvnvbhghghg-312x420.png 312w, https://www.altcoinbuzz.io/wp-content/uploads/2024/08/vcxvbcbnvnvbhghghg.png 392w" sizes="(max-width: 510px) 100vw, 510px"></p> 
<h6 style="text-align: center;"><strong>Source: <a href="https://x.com/VitalikButerin/status/1828730602721341833" target="_blank" rel="noopener">X</a></strong></h6> 
<p>Additionally, Buterin suggested alternative methods like subsidizing savings rates for smaller accounts as a potential substitute for universal basic income (UBI). This concept is akin to <a href="https://www.cpf.gov.sg/member" target="_blank" rel="noopener">Singapore’s Central Provident Fund (CPF)</a>, which provides a form of savings subsidy to its members.</p> 
<p><a href="https://www.patreon.com/altcoinbuzz" target="_blank" rel="noopener"><img decoding="async" class="alignright" src="https://www.altcoinbuzz.io/wp-content/uploads/2023/09/Alpha_website_leaderboard-banner.jpg"></a></p> 
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<h6><strong>Disclaimer</strong></h6> 
<p>The information discussed by Altcoin Buzz is not financial advice. This is for educational, entertainment, and informational purposes only. Any information or strategies are thoughts and opinions relevant to the accepted levels of risk tolerance of the writer/reviewers and their risk tolerance may be different than yours. We are not responsible for any losses that you may incur as a result of any investments directly or indirectly related to the information provided. Bitcoin and other cryptocurrencies are high-risk investments so please do your due diligence. Copyright Altcoin Buzz Pte Ltd.</p> 
<p>The post <a href="https://www.altcoinbuzz.io/cryptocurrency-news/vitalik-buterin-airdrops-perfect-for-blockchain-identity-use-cases/">Vitalik Buterin: Airdrops Perfect for Blockchain Identity Use Cases</a> appeared first on <a href="https://www.altcoinbuzz.io">Altcoin Buzz</a>.</p>

Vitalik Buterin: Airdrops Perfect for Blockchain Identity Use Cases

Altcoin Buzz

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