Snapshot

Snapshot

A snapshot means a snapshot of the distribution of all tokens of a particular cryptocurrency. Because blockchain ledgers are transparent, it is possible for anyone to see which addresses own how many tokens. There are several reasons why snapshots are done. Sometimes a project needs or wants to switch to a new token contract. To ensure that everyone keeps the same amount of tokens, a snapshot is taken and then all holders receive the same amount of tokens in the new contract. Another reason is that new projects want to involve or reward a certain community. A snapshot is then made to reward the holder addresses with a free new token.

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Cryptopedia: Snapshot