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The case of the use of cryptocurrencies as payment methods and money was one of the main reasons for which it was invented.
Coil, a company founded by the co-creator of the InterLedger Protocol and Ripple's former CTO, Stefan Thomas, has successfully implemented XRP micropayments on major sites such as YouTube and Twitch. This means that the creators of content on the website will be able to receive payments only as long as users are on the page.
This represents a progress in payments, since the actual value is transferred to the Web site managers in real time. To understand what it really means, it's important to focus on what the streaming payments are.
STREAM is a protocol on ILP for streaming transport for real-time exchange of resources and messages and is similar to TCP seen on the Internet today. Money can be sent via the protocol, whether it is a small series of quick payments or a large payment. It will be sent using a constant stream of micropayments.
The reel features on ILP and use STREAM to provide content creators with opportunities to integrate the service into their payment website. Once the software is integrated, users who pay the $ 5 Coil flat rate per month can make payments in XRP directly to the contributor.
As David Schwartz, CTO of Ripple said:
"Content providers do not need any roll agreement, if they provide a value in return for funds, the reel (and others) will pay them to get that deal. If not, universal and painless for the creators. "
If Coil reaches the prominence as the main payment method, the Internet of the future will be a more organic place to produce content. For every second a user makes on an item, a small amount of XRP will be sent. As soon as the user stops, the payment flow also ends.
This can be extrapolated to include other services such as streaming music, video or generally contributing to content. For example, a user can watch a YouTube video for 30 seconds and pay only for those 30 seconds.
Other uses for streaming payments include the ability to pay for a certain amount of an asset. For example, ILP users could only pay for how much beer drops to the milliliter they consume in a bar, instead of buying an established amount.
Those who are familiar with Ripple's vision for the Internet of Value will recognize that this effectively marks the next step in the pursuit of that future. The value is moving as fast as the data that Web sites collect from their users, thus allowing a general movement of the economy away from data mining for targeted advertising to an economic and invisible alternative that works in the background for a fair economy. [19659002] For XRP enthusiasts, this is not just a movement in the way value is treated, but also more bullish news. This is the beginning of the movement of XRP Ledger far from Ripple only for the development of applications for it, since Coil was created by Thomas after he left the company.
