Can The Bitcoin Lightning Network Revolutionise Online Publishing?

THELOGICALINDIAN - Although the Lightning Network is best generally accustomed as a way to abate transaction accountability on the capital Bitcoin blockchain assorted added use cases are acceptable credible as added bodies agreement with it

One of the best potentially advocate is the adeptness to accomplish abundantly baby payments for online content. This could accept a massive appulse on the way agreeable creators monetise their assignment and, if the better names in publishing get on board, could be massive for Bitcoin acceptance generally.

Is Lightning Network Poised to Strike Online Publishing?

It is no abstruse that the internet has had a adverse aftereffect on the affection of journalism. Where announcement acquirement is king, sensationalism pays the bills. Some once-highly-respected publications accept approved to abstain the allurement to await too heavily on such “click-bait” approach by application cable services.

However, the botheration with these associates schemes is that abounding readers don’t appetite to pay for a accomplished month’s admission to a advertisement aloof to apprehend a distinct article. This poses an absorbing befalling for Bitcoin’s additional band payments network, Lightning Network.

Since Lightning payments are bargain and fast, they could calmly be acclimated to accommodate pay-per-view casework at publications both ample and baby – a use case accent in a column aftermost September on crypto portfolio appliance Crypto Millionaire’s blog.

The columnist of the piece, blue-blooded “I beatific belletrist to top newspapers allurement for Lightning Network micropayments. Here are their responses so far”, claims to accept done aloof that. In a letter addressed to “Wall Street Journal, Financial Times, New York Times, and abounding other”, they outline the aloft altercation that abounding bodies absent to apprehend accessories abaft pay walls would be blessed to pay for them. However, the accepted cable archetypal does not baby to the casual reader:

“I’m not activity to pay $15 to $30 dollars a ages for a subscription… I would be way added acceptable to pay a few cents for a accurate commodity I’m absorbed in.”

I beatific belletrist to top newspapers allurement for Lightning Network micropayments. Here are their responses so far: https://t.co/3iVukE7L4t … CoinGatecom #Bitcoin #Crypto #Ethereum #Litecoin #Ripple #EOS pic.twitter.com/4ghSL62gRW
— Crypto Millionaire App (@eagletwitt3r) April 3, 2019

The band-aid proposed is for publications to apparatus Lightning Network micro-payments for content. The columnist of the letter argues that publications implementing LN payments for agreeable would:

“… get a lot added revenue, a lot of advertising from the crypto and millennial communities and, best importantly, attending air-conditioned and like befitting up with the times.”

Old cable models could alike be retained for those adulatory to pay the abounding account fee and adore absolute content. Meanwhile, a lot added accidental readers would be accidental to the publication’s all-embracing profitability. This added acquirement could again be spent on affection analytic journalism, rather than perpetually budget-cutting to accumulate costs bottomward and relying added heavily on click-bait-style content.

In aftermost year’s piece, a few of the publications responded. The Washington and Wall Street Journal declared that the advancement was actuality forwarded to the accordant departments. Meanwhile, the Financial Times were rather added positive:

“You accept a acceptable point in suggesting Lightning Network micro-payments in which barter can use if they appetite to apprehend an absorbing commodity on ft.com. We booty onboard your advancement and hopefully one of the things that our business teams would consider.”

Bitcoin Micro-Payments at Major Publications Could Seriously Drive Adoption

It’s been six months back the publications were contacted and abominably there is still no assurance of Bitcoin Lightning Network micro-payments at any above account publication. This feels like the ancestry of a absent befalling for both the publications and Bitcoin.

Although antecedent uptake ability be limited, if visitors to a pay-walled commodity realised that there was a way to pay for a distinct article, abounding of the keenest readers would acceptable accept to analyze it. Not alone could such a acquittal archetypal serve to access the affection of journalism beyond the lath but it could be a austere benefaction for Bitcoin acceptance too.

That said, it is still aboriginal canicule for Lightning Network. The admeasurement of the network and the amount it’s able of appointment accept been growing at a accelerated pace, however, it still ability be affective a little too bound to accept the Wall Street Journal advertise Lightning micro-payments appropriate now. The arrangement is still actual abundant in its infancy. That said, back the arrangement has matured, amalgam Bitcoin micro-payments with arch publications is absolutely the absolute way to both brace a disturbing industry and advance BTC adoption.