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glossary

Definitions and terminology related to cryptoeconomics, blockchain and distributed ledger technology.
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Faucet

A faucet is a giveaway system intended to help the adoption of a cryptocurrency. A faucet will give away a set number of coins up to a limit for free, or via random distribution at a set internal. The idea is that by giving away small amounts of currency for free users will then spend it within the emerging ecosystem creating activity, and continue using it afterwards. The first and perhaps most notable faucet was the Bitcoin Faucet created by Gavin Anderson in 2010 to help Bitcoin’s adoption. It originally gave out 5 Bitcoin per visitor. This amount declined over time and was eventually shut down in 2012.