Yours, the famous social network, which uses a blockchain technology, has stated that it has recently finished the first step of Bitcoin payments integration. Therefore, it has completed first transaction of money on Bitcoin testnet.
Yours tries to create a low-cost method to pay money for the creators of the content. It began using bitcoin payments on its platform in August, and today it happily checked the first user-to-user smart contract micropayment in an artificial payments environment.
The Founder and CEO of Yours social network, Ryan X. Charles wrote on his Twitter:
“Today we completed the first step in integrating our micropayments technology into Yours Core and broadcasted the first funding TX on Real Bitcoin Testnet.”
Ryan X. Charles mentioned that the Yours Core is the name of the logic algorithm, which will work in an internet browser and on the server, and keeps the realization of bitcoin wallet. He noted that the Yours team is presently try to integrate its micropayments methods into Yours Core. Nevertheless, the process of integration if not fully completed, just only the first stage of this Bitcoin micropayments has been finished, which shows that such money transferring is possible.
Ryan X. Charles stated:
“Yours could be a platform for obtaining individuals paid for creating and discovering sensible content with bitcoin micropayments. We’ve had the merchandise operating for a while with traditional bitcoin transactions, but fees are too high. we are implementing a Yours-flavored version of the Lightning Network into our product for real micropayments that have lower fees.”
Moreover, he told that the other two main types of Bitcoin transaction such as obligation transactions and spending transactions engaged in micropayments mechanism, still have not been integrated and tested on the platform. All in all, the Yours social platform make a huge step in its idea of making payments for the good and qualitative user’s content.