Tippin to Allow Twitter Users to Send, Receive Tips in Bitcoin's Lightning Network
Tippin, a platform that offers a user-friendly web-based custodial crypto wallet, has announced that it will be introducing a Chrome extension that will let Twitter users send and receive tips in bitcoin (BTC).
Launched as an independent project that aims to make it easier for users to conduct Lightning Network (LN)-based bitcoin transactions, Tippin’s announcement has come after Twitter CEO, Jack Dorsey showed his support for bitcoin and LN, a second-layer payment solution to enable faster and cheaper crypto transfers.
Notably, Dorsey recently participated in Trust Chain’s LN initiative, which is a community-led project that was introduced by Twitter user hodlonaut - in order to create awareness about the potential benefits of using layer-two crypto scaling solutions such as the LN protocol.
Jack, "Make It Happen!"
Twitter user Amjad Masad tweeted: “Imagine a world where you can tip people with satoshis. I bet content quality will go up. @jack make it happen!”
In response, Dorsey retweeted Masad’s tweet, adding that he “loves the idea.”
At present, Tippin is in its beta stages of development - with a few features such as an HTML-based BTC tip button already available. According to software developer, Sergio Abril, the Google Chrome extension for Tippin may be released at the end of February. The extension will be launched (at first) to obtain feedback from users. Abril told Sludgefeed:
The sooner [Tippin is introduced,] the better; as soon as [it’s] relatively stable.
As CryptoGlobe reported recently, Lightning Network-enabled cryptocurrency payments are already comparable with more established traditional payment processors. After recently surpassing the 650 BTC capacity level, the LN was recently tested against more traditional and centralized digital payment processors - including Apple Pay.
Lightning Network Already Comparable To Apple Pay
Researcher JP Thor, a bitcoin analyst and crypto advocate, found that LN-based transactions were significantly faster as no intermediaries were required to complete the transfers on the second-layer crypto payment network. Commenting on how fast the LN is able to process transactions, Thor noted:
Sending a payment across the LN will always be faster than Visa. LN payments can be processed as fast as a TCP/IP connection between two peers. A single channel has been shown to process over 250 TPS, so the network can scale to no real upper bound.
XRP supporters and developers have also created a tipbot program that allows users to tip using XRP on social media. Referred to as the “XRP TipBot”, the program lets people send tips in XRP to other users on Discord, Twitter, and Reddit.
Using the tipbot, users can send small amounts of XRP. This is done by simply typing a key phrase into the text field. According to the software’s developers, they have taken measures to prevent the tipbot from being used in money laundering by limiting the tipping amount to 5 XRP/tip.
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