ZapChain launches in-House Tipping Mechanism, Enables Micropayments

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ZapChain, a specialized social network built around the Bitcoin community users who are interested in getting in touch with like-minded people and learn new things about Bitcoin, has launched in-house tipping mechanism and enabled micropayments. It has emerged as a leading platform for Bitcoin professionals, entrepreneurs, enthusiasts.

Recently, ZapChain has become a platform where the above mentioned professionals that are involved in the various discussions concerning the Bitcoin mining, Bitcoin future, Bitcoin startups and so on, come together to put their views. Interestingly enough, ZapChain is quite similar to LinkedIn in various respects.

Nonetheless, being similar to LinkedIn, ZapChain focuses only on Bitcoin related projects and themes. The announcement to bring in-house tipping mechanism did not surprise many as the organization into it for quite some time now. With it ZapChain is once again enabling micropayments which are emerging popular every passing day.

When the announcement from ZapChain furthering its attempts to experiment with content monetization, following Coinbase’s decision to end its tipping service in February, came in, it sent pleasing surprise among users. Talking to media professionals company CEO Matt Schlicht asserted the move toward micropayments was inspired by various reasons.

One reason according to him is the lack of available venues for consumers to have introductory experiences with Bitcoin. Similar views were shared by ZapChain investor and Boost VC CEO Adam Draper who spoke to the big picture behind the company’s vision for content monetization which is emerging as a primary choice among the users.

Now Send Bits to Any user

Draper said that microtransactions might be a new way for web content creators to make money. He is of view that it could be a game changer. Now, ZapChain users will see a green ‘Tip’ button beside both questions and comments. The company informs that by clicking this button, users are prompted to send bits, or units of Bitcoins, to other users.

Thus, the users can now send bits to any user 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.

The company says 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 promising tool was built on Blockcypher’s API to allow all tipping transactions to be conducted on the Bitcoin Blockchain.

To contact the reporter of this story: Deepak Tiwari at deepak@forexminute.com