In mid-February, a Twitter application offered social network users to transfer cryptocurrency to each other. The instant transaction is carried out using the application Tippin, which allows not only to evaluate tweets but also to like by bitcoins.
Now the application from Tippin works only in the browser version of Twitter. A Mozilla or Google Chrome user can download the add-on to the browser and link his crypto wallet to it. Of course, you will need an account in a social network. As a result, another one will appear near the Like and Retweet buttons - “Tip”, in the form of a zipper. By clicking on it, the user of the social network will be able to make a donation to the author of the post.
To process a transaction, the Lightning Network is used, which instantly transfers the funds to the author. According to the developers, the opportunity to like by bitcoins on Twitter will be very popular in the near future.
Lightning Network is a second layer protocol which smart contracts will apply to increase network bandwidth. At the same time, payments in bitcoin are faster and with minimal costs. Information about microtransactions is not recorded in a public blockchain.
However, it is worth noting that the payee must also have cryptographic cards and an installed browser extension.
Although the Tippin application was created by third-party developers, Twitter was pleased to see the appearance of this tool. The company's executive director, Jack Dorsey, announced that it would lead to more quality content. If users are able to financially thank each other, they will have an incentive to take the published information seriously. The ability to like on Twitter with the help of Bitcoin will make the social network more popular.
Billionaire, Twitter CEO and founder Jack Dorsey is confident that Bitcoin will become a global world currency. He took an active part in financing the project Lightning Labs and repeatedly stated about the inevitable success of the blockchain technology.
However, Tippin is not going to stop there. Now works are underway to increase the list of used social networks and instant messengers. Lightning Network Technology was launched only in 2018, but it has already become very popular. The use of smart contracts has significantly expanded the scope of application, while at the same time achieving a reduction in transaction costs.
Using cryptocurrencies in social networks can become a trend of 2019. Telegram Open Network (TON) is another successful project. At two stages of financing, he collected more than $ 1.7 billion. BitTorrent placement was no less successful. In just 20 minutes of the ICO, more than $ 7 million was attracted here. And when the tokens went public, their price increased by 800%.
One can make unambiguous conclusions from this - the process of applying cryptocurrency has entered a new stage. The opportunity to like on Twitter using Bitcoin is another stage of development.