Twitter CEO and co-founder Jack Dorsey today tweeted that he is using the Tippin browser extension to accept Lightning Network tips.
Since starting his experiment, Dorsey has already received 12,362 satoshis on the tipping service (valued at around $0.50). I myself sent a satoshi from my mobile BlueWallet this morning.
— jack (@jack) February 20, 2019
According to the official announcement from Tippin, the new app will allow everyone to send and receive small amounts of Bitcoin on Twitter. Users of the social media platform will be able to send BTC micropayments as a tip if they like a specific tweet and want to express their appreciation.
How it works
All you need to use Tippin is a Twitter account and a Google Chrome browser with the Tippin extension installed. When it is enabled, a small lightning bolt symbol will be displayed inside every tweet — next to the familiar “like” and “retweet” buttons.
The transactions are easy, cheap, and fast thanks to the use of the Lightning Network. The technology was developed as a solution aimed at addressing the current scalability issues facing Bitcoin. Built on top of the BTC network, Lightning represents an additional layer facilitating almost instant Bitcoin transfers for (virtually) no fee.
The new Tippin feature marks an essential milestone in Bitcoin adoption as it offers a legitimately innovative and promising use case for the Lightning Network and BTC.
The extension focuses on making small Bitcoin payments easy for ordinary people. It also provides content creators with a new way to raise money for their creativity — they won’t need any centralised external services or intermediaries to receive such tips. All they will need is a Twitter account and just one button in their browser.
Not the only active platform for Lightning tips
Another Lightning and Bitcoin-based tipping service and Patreon competitor called Tallycoin recently welcomed its 400th registered user. The competing platform has both paywall and subscription functionality along with the ability to tip directly to a fundraising goal, but interestingly in a way where the eventual recipient has full custody over the crypto donations received (it can be received directly in their hardware wallet).
It looks as though the Lightning storm is set to continue on Twitter after multiple weeks of high-profile publicity for the network and services around the tech.
If the extension proves a success, it should bolster widespread use and awareness of the Bitcoin network and its capabilities as a frictionless medium of exchange.
I think when people inevitably ask how they can get involved (or buy some ‘Lightning’ tokens), the answer will require some real blockchain education, instead of just some investment advice.
Disclaimer: The views and opinions expressed by the author should not be considered as financial advice. We do not give advice on financial products.