Lightning powered blog handles 20,000 Bitcoin micropayments in 7 months

posted 5 months ago
Few projects have done as much to explore crypto micropayments as the year-old "Yalls blog" created by Lightning Labs developer Alex Bosworth. Bosworth said in the past 7 months blog participants have processed 20,000 invoices with the Lightning Network, a Bitcoin scaling solution that makes micropayments feasible by keeping them off the blockchain, sidestepping network transaction fees.

It costs roughly one cent to read a Yalls article, half a cent to leave a comment on a post, and 10 cents to react to a post with an emoji. Publishing an article is free. While this hardly constitutes a business model for daily publishing, it highlights how engaged readership can contribute to a platform’s broader infrastructure. Speaking to the problem of bots, trolls & marketers, he added: “The micropayments help there, because then you don’t have robots or spam.” Bosworth acknowledged it will take years for this type of community funding to work for professional media outlets. “If the infrastructure were there, so that there were less mental costs on the user to make that payment,” he said, “I think it could take off.”
Tags: bitcoin, blockchain, news