Bitcoin Social Network ZapChain Launches Micropayments Tool

Bitcoin-centric social network ZapChain is once again enabling micropayments with the launch of a new in-house tipping mechanism.

The announcement finds ZapChain furthering its attempts to experiment with content monetization, following Coinbase’s decision to end its tipping service in February.

Company CEO Matt Schlicht asserted the move toward micropayments was inspired by the lack of available venues for consumers to have introductory experiences with bitcoin, while ZapChain investor and Boost VC CEO Adam Draper spoke to the big picture behind the company’s vision for content monetization.

Draper said:

"Microtransactions might be a new way for web content creators to make money. It could be a game changer."

ZapChain users will now see a green 'Tip' button beside both questions and comments. By clicking this button, users are prompted to send bits, or units of bitcoins, to other users – be it someone who has asked a question or someone who has provided an answer.

The tip amounts are pre-set to represent items such as a coffee, an apple or a pizza.

ZapChain said it is not currently seeking to make a profit from the tool, but suggested it may be looking to allow other platforms to integrate the product.

The tool was built on Blockcypher's API, allowing all tipping transactions to be conducted on the bitcoin blockchain.

Tipping image via Shutterstock