28 Sep '14, 3am

A Solution for Trustless Bitcoin Microtransactions Is Here

A Solution for Trustless Bitcoin Microtransactions Is Here

Tipping wallets – The most obvious place where this kind of solution for micropayments is needed right now is in tipping wallets. While tipping services, such as ChangeTip, are already pretty awesome, they still have the problem of being liable for your entire account balance. If ChangeTip used a micropayments channel server, the account balances could not be stolen by a hacker or rogue employee at the company. Bitcoin is about removing as much trust as possible from third parties , so it would make sense for any online Bitcoin wallet to implement this security upgrade. “Pay as you go” Wi-Fi – This is the usual example given for the power of micropayments. Instead of purchasing a day pass or monthly plan for Wi-Fi access at an airport or cafe, it could make sense for some people to make micropayments to the entity providing Wi-Fi access. Perhaps a user could have 5 satoshi...

Full article: https://www.cryptocoinsnews.com/solution-trustless-bitcoi...

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