Bitcoin SV powered social media platform Twetch has launched a feature to streamline peer-to-peer (P2P) payments.
Twetch is a Twitter-like social media platform where users must make micropayments in order to post and engage with content on the platform. Content creators are directly paid for their activity through a revenue sharing system based on likes and shares. The platform is currently in private beta.
Command-line style payments feature
Tweet has rolled out the ability for users to send BSV to each other by entering the command-line ‘/pay’, a user’s tag, and the dollar value of the transfer into the app.
Twetch payments are on-chain, allowing for transfers to be publicly validated. Tagging users on the social platform also pays them $0.001 in crypto.
Alongside the new payment feature Twetch has implemented ’read API’ to the social platform’s software development kit (SDK) on github. The functionality allows developers to create customized Twetch clients that can filter content by a specific topic.
The platform has also introduced an ‘advanced search’, however, users must pay $1 to unlock the feature.
Twetch data is written to Bitcoin SV
Twetch claims to offer users full control over their data and content on the platform by writing it to the Bitcoin SV platform. Twetch’s CEO and founder Josh Petty has described the platform as “an interface to publish and view information on Bitcoin [SV].”
Petty claimed that the platform helps to combat fake news by financially disincentivizing the proliferation of bots on the social media platform. Posting to the Bitcoin SV blockchain costs $0.02.
The platform appears to be a step along the road to nChain Chief Scientist Crag Wright’s vision for the Metanet, which is a blockchain-powered version of the Internet where all activity is recorded on chain.