A Solution for Trustless Bitcoin Microtransactions Is Here
In a recent video released by software engineer James Poole, the demonstration of micropayment channels shows how Bitcoin can be used for transactions in amounts as small as a fraction of a penny. In fact, micropayment channels can make microtransactions denominated in satoshis much more practical in the real world. Right now, it costs roughly $0.04 to broadcast a transaction on the Bitcoin network. While this is much cheaper than other payment networks, sending one satoshi becomes rather impractical. With a micropayments channel, a Bitcoin user can setup a trustless environment with a....
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One of the newest advertisement method for Bitcoin companies is to send out free bitcoins to Bitcoin addresses, including those that belong to Bitcoin websites. It seems great; who doesn't love free money, right? However, it's been causing some problems for websites that require bitcoin deposits. See, these sites require confirmations on deposits. The bitcoin microtransaction advertisements generally don't confirm, either because the advertiser sends too little, or they aren't including the transaction fee. One website in particular that's having problems with these microtransactions is....
Today, XCurrency has released a brand new trustless mesh network that looks to create revolutionary advancement in privacy, scalability and mobility. This is the final component of the company's Rev 2 privacy solution and is a single protocol with many possibilities for users and enthusiasts. This new service will allow any node to communicate on behalf of others, without having to trust forwarding nodes. The addition of XC's trustless ad hoc mesh networking comes just months after the company announced XMixer, where nodes can earn revenue for the trustless forwarding of transactions. It....
Coinbase, the bitcoin wallet and exchange payment processor, has announced that it will begin processing off-block chain microtransactions. These transactions will be free for users, and once a user has accumulated 0.01 BTC they can withdraw funds, which then incurs the normal block chain fees. The new microtransactions are handled internally at Coinbase and are instant. For instance, you can even send a unit as small as a Satoshi (0.00000001 BTC). This will be a useful feature for Coinbase users because while miner's fees are relatively low for most transactions, they become significant....
Visa has a launched a new programmable API. Announced via its Visa Developer platform, is a Microtransactions (MTX) API with which developers can “enable virtual currency” for desktop and mobile applications. The project will also allow branded reward points systems, coupons, and campaigns for virtual transactions. Visa has been a fan of blockchain....
Following an announcement earlier this week regarding Xmixer which would enable trustless mixing for XCurrency, some good news has been shared by the development team over at XCurrency. Much time has passed, and finally, XCurrency has released the final component of its privacy-centric payments solution: trustless ad hoc mesh networking. It is a single protocol such as the bitcoin blockchain, and its primary function is to allow any app on the XC network to communicate on behalf of other apps without the others having to trust them. “Put briefly, when someone makes a private payment using....