Jack Dorsey, Twitter co-founder and CEO of Block, signaled plans to bring back an early system known as a Bitcoin (BTC) “faucet,” which distributed small amounts of Bitcoin for free.
On the 4th (Korea time), Dorsey shared a Block post on X (formerly Twitter). The post previewed that “the Bitcoin faucet returns on the 6th (local time).”
A faucet is a system that rewards users with small amounts of Bitcoin for completing simple tasks, and was used in Bitcoin’s early days to drive user adoption. For example, an early faucet created in 2010 by developer Gavin Andresen paid out up to 5 Bitcoins per user for entering a simple human-verification CAPTCHA.
But as Bitcoin’s price continued to rise through today, faucets proved unsustainable.
The faucet Block is preparing is also expected to serve a similar role to earlier faucets. However, details such as the amount to be distributed and the mechanics have not been disclosed.
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