• Latest
Crypto Micropayments Are Opening a Door to New Use Cases

Crypto Micropayments Are Opening a Door to New Use Cases

Mai 26, 2019
6 Questions for Rene Reinsberg of Celo – Cointelegraph Magazine

6 Questions for Rene Reinsberg of Celo – Cointelegraph Magazine

März 31, 2023
Judge denies SEC motion to keep Hinman docs secret in Ripple case

Judge denies SEC motion to keep Hinman docs secret in Ripple case

März 31, 2023
The ultimate guide to Miami – Cointelegraph Magazine

The ultimate guide to Miami – Cointelegraph Magazine

März 31, 2023
Dr. Jane Thomason – Cointelegraph Magazine

Dr. Jane Thomason – Cointelegraph Magazine

März 31, 2023
1658007797 celsius is bankrupt with 12b balance sheet hole su zhu.jpg

Celsius is bankrupt with $1.2B balance sheet hole, Su Zhu returns to Twitter and OpenSea purges 20% of employees: Hodler’s Digest, July 10-16

März 31, 2023
6 Questions for Lisa Fridman of Quadrata – Cointelegraph Magazine

6 Questions for Lisa Fridman of Quadrata – Cointelegraph Magazine

März 31, 2023
Jed McCaleb empties XRP wallet after eight-year selloff

Jed McCaleb empties XRP wallet after eight-year selloff

März 31, 2023
Celsius has finally filed for bankruptcy: Law Decoded, July 18-25

Celsius has finally filed for bankruptcy: Law Decoded, July 18-25

März 31, 2023
The ‘godfather of crypto’ risked lifetime in jail, laying foundation for Bitcoin – Cointelegraph Magazine

The ‘godfather of crypto’ risked lifetime in jail, laying foundation for Bitcoin – Cointelegraph Magazine

März 31, 2023
SEC objects to XRP holders aiding Ripple defense

SEC objects to XRP holders aiding Ripple defense

März 31, 2023
Blockchain technology is transforming the real estate market – Cointelegraph Magazine

Blockchain technology is transforming the real estate market – Cointelegraph Magazine

März 31, 2023
1658612147 nfts banned in minecraft sec lists 9 tokens as securities.jpg

NFTs banned in Minecraft, SEC lists 9 tokens as securities and 3AC founder blames cockyness for company meltdown: Hodler’s Digest, July 17-23

März 31, 2023
  • Home
  • Coin Market Cap
  • Bitcoin
  • Ethereum
  • Ripple
  • Litecoin
  • Alt Coin
  • Business
  • Trading
  • Mining
CoinNewsDaily
  • Home
  • Coin Market Cap
  • Bitcoin
  • Ethereum
  • Ripple
  • Litecoin
  • Alt Coin
  • Business
  • Trading
  • Mining
No Result
View All Result
  • Home
  • Coin Market Cap
  • Bitcoin
  • Ethereum
  • Ripple
  • Litecoin
  • Alt Coin
  • Business
  • Trading
  • Mining
No Result
View All Result
CoinNewsDaily
No Result
View All Result
Home Alt Coin

Crypto Micropayments Are Opening a Door to New Use Cases

coinnewsdaily by coinnewsdaily
Mai 26, 2019
in Alt Coin
0
Crypto Micropayments Are Opening a Door to New Use Cases
191
SHARES
1.5k
VIEWS
Share on FacebookShare on Twitter

Although e-commerce has existed for twenty-five years, and makes up a substantial portion of the global economy, the ability to spend very small sums online remains an elusive challenge. Blockchain advocates have long pushed cryptocurrency as a solution to this problem, and now that claim is nearing reality. Advancements in scalability and reduction of fees is beginning to make micropayments a very real option for digital transactions, which is all but certain to create new business models, and could play a key role in bringing crypto to the masses.

The vast majority of online purchases are made with credit cards, which use fee structures that pre-date the Internet and are designed for brick-and-mortar stores. Each transaction in this legacy system requires the merchant to pay a fixed fee, usually between USD $.50 and $1.00, plus a percentage of the sale price. The merchant has an account with a bank to manage the processing. This arrangement makes micropayments impossible, but the credit card companies and their partner banks have refused to create a modern payment infrastructure that would work with smaller sums.

Related articles

StarCard Sports Games Launches “Legends” Initiative for New World Football Alliance; Partners with Ashley Cole and Roberto Carlos

StarCard Sports Games Launches “Legends” Initiative for New World Football Alliance; Partners with Ashley Cole and Roberto Carlos

Juli 29, 2022
Top 3 cryptocurrencies that are faring the best in the 2022 bear market

Top 3 cryptocurrencies that are faring the best in the 2022 bear market

Mai 24, 2022

Cryptocurrency provides a solution to this problem, but until recently transaction fees have been too high, and too unpredictable, to make small value payments worthwhile. Now this issue may finally be resolved, as developments among crypto platforms have dramatically brought down fees, and in some cases eliminated them entirely. The Lightning Network (LN) is the best known of these advancements, but there are others that also hold tremendous promise.

Basic Attention Token (BAT) stands out in this area, as micropayment capabilities are part of its core design and intended to be used by its Brave Browser. Also, micropayments are a key element of the Internet of Things (IoT), and are thus possible on platforms geared toward this sector such as IoTX and Iota. In fact, Iota’s unique network architecture enables it to be feeless. Nano and Byteballs are two others that also have zero transaction fees.

Perhaps the most revolutionary use of micropayments will be in the field of online media, where consumers will soon be able to quickly and securely pay tiny sums to read individual articles or watch specific videos. This business model has been long been a dream of Internet content providers, but has been impossible to implement due to high credit card fees. There is also the potential for such payments to be made to charities and interest groups.

The ability to make very small payments opens the door to entirely new economic and logistic systems. For example, in manufacturing, factory owners could rent equipment, even remotely, and pay for usage based on very precise parameters. Micropayments also enables the monetization of data, as individuals and businesses can be compensated for sharing useful information with third parties. One of the first steps in this direction is Jaguar Land Rover’s plans to integrate Iota into its vehicles, and pay drivers to share details such as road or traffic conditions.

The introduction of a true micropayment infrastructure is one of the many revolutionary changes promised by the blockchain revolution. Because of the relative ease of implementation, it will likely be one of the earliest means of mass adoption. Although it remains far too early to determine which platforms will survive long-term, there is no doubt that the capability of sending such transactions will be a crucial part of any successful blockchain asset.

Tags: Alt CoinAltcoinbankInternet content providersJaguar Land Roveronline purchasessums online
Share76Tweet48
Previous Post

Ripple Is Ranging But XRP Bulls Are Steadfast Aiming At 80 Cents

Next Post

Top 5 Crypto Performers: BSV, BNB, LTC, BCH, DASH

coinnewsdaily

coinnewsdaily

CoinNewsDaily.com is an online Crypto Coin News Website that aims to provide latest trendy news from market and around the world.

Related Posts

StarCard Sports Games Launches “Legends” Initiative for New World Football Alliance; Partners with Ashley Cole and Roberto Carlos
Alt Coin

StarCard Sports Games Launches “Legends” Initiative for New World Football Alliance; Partners with Ashley Cole and Roberto Carlos

Juli 29, 2022
Top 3 cryptocurrencies that are faring the best in the 2022 bear market
Alt Coin

Top 3 cryptocurrencies that are faring the best in the 2022 bear market

Mai 24, 2022
Monero enters ‘overbought’ danger zone after XMR price gains 75% in two weeks
Alt Coin

Monero enters ‚overbought‘ danger zone after XMR price gains 75% in two weeks

Mai 24, 2022
Price analysis 5/23: BTC, ETH, BNB, XRP, ADA, SOL, DOGE, DOT, AVAX, SHIB
Alt Coin

Price analysis 5/23: BTC, ETH, BNB, XRP, ADA, SOL, DOGE, DOT, AVAX, SHIB

Mai 23, 2022
arthur hayes to serve 2 year probation owning up to bitmex’s aml mishap
Alt Coin

Arthur Hayes to serve 2-year probation owning up to BitMEX’s AML mishap

Mai 23, 2022
Top 5 cryptocurrencies to watch this week: BTC, BNB, XMR, ETC, MANA
Alt Coin

Top 5 cryptocurrencies to watch this week: BTC, BNB, XMR, ETC, MANA

Mai 22, 2022
Load More
Next Post
Top 5 Crypto Performers: BSV, BNB, LTC, BCH, DASH

Top 5 Crypto Performers: BSV, BNB, LTC, BCH, DASH

Kategorien

  • Alt Coin
  • Bitcoin
  • Business
  • Ethereum
  • ICO
  • Litecoin
  • Mining
  • NFT
  • Ripple
  • Tech
  • Trading

What New here?

  • 6 Questions for Rene Reinsberg of Celo – Cointelegraph Magazine
  • Judge denies SEC motion to keep Hinman docs secret in Ripple case
  • The ultimate guide to Miami – Cointelegraph Magazine
  • About Us
  • Contact Us
  • Privacy & Policy

© 2018-2021 CoinNewsDaily.com by CoinNewsDaily Inc. Crafted with Love by iFtiDev

Please enter CoinMarketCap Free Api Key to get this plugin works.
✕
No Result
View All Result
  • Home
  • Coin Market Cap
  • Bitcoin
  • Ethereum
  • Ripple
  • Litecoin
  • Alt Coin
  • Business
  • Trading
  • Mining

© 2018-2021 CoinNewsDaily.com by CoinNewsDaily Inc. Crafted with Love by iFtiDev