Ripple’s Xpring Gives $265 Mil in XRP to Content Platform Coil

Must Read

Top 5 Tips for Managing Your Blockchain Project in 2020

Description: Seriously, how do you manage your blockchain project in 2020? The global economy has gone through...

MyCryptoMixer 2020 – The Most Effective Bitcoin Mixer Necessary To Protect Customer’s Anonymity as well as Personal privacy

Federal governments and also law enforcement agencies have been alerted to the possible illegal use...

Ether Investors Excited about Staking as ETH Balance on Exchanges Surge

This past week, the crypto market enjoyed greens, having recovered most of the losses recorded...
- Advertisement -BTCClicks.com Banner
Earn Free Bitcoin

Ripple’s infrastructure development and XRP adoption initiative Xpring announced a 1 billion XRP (roughly $265 million) grant to web monetization platform Coil on Aug. 15. Coil will reportedly use the funds to build an ecosystem of creators, developers, companies and nonprofits that use XRP through the Web Monetization open standard.

Giving creators control over distribution and monetization

Coil is a platform that provides an alternative method for creators to monetize their content on the internet. Users can post public and exclusive content on the platform, which is automatically enabled for streaming payments. Alternatively, creators can monetize their own websites by adding a simple tag. Coil CEO Stefan Thomas commented: 

“Creators want more choice and control over how their content is monetized and distributed […] Web Monetization provides a solution that is more fair, open and inclusive for creators and fans around the globe.”

Neck bone connected to the head bone

As subscribing fans enjoy content, Coil uses an open API called Web Monetization to stream micro payments to creators in real time.

Web Monetization is built on the Interledger Protocol, co-created by Coil CEO Stefan Thomas. Thomas is also the former CTO of Ripple. Ripple’s Xpring also participated in Coil’s $4 million seed round. Ethan Beard, Senior Vice President of Xpring, said: 

“Advertising and site-by-site subscription models are ready for disruption […] The low cost and fast transactions of XRP makes it an ideal tool for Coil to offer an alternative monetization method and have a positive impact on creators.”

If Peter Brandt is correct, then Coil should start putting that XRP to work straight away. The veteran trader believes that the currency could fall another 20%, accusing issuer and largest holder, Ripple, of manipulating XRP’s price.

Ripple is also allegedly bracing to feel the wrath of the Securities and Exchange Commission. The company is currently being taken to court by an investor, who claims it sold unregistered securities.

- Advertisement -
- Advertisement -

Latest News

Wyoming Amends Insurance Code to Allow Insurance Companies to Invest in Bitcoin & other Cryptos

In the first provision of its kind, Wyoming is allowing the domestic insurers to invest...
- Advertisement -Earn Free Bitcoin

Its’ Finally Here A 100% Local Non-Custodial P2P Cryptocurrency Marketplace.

Finfreeotc is soon launching a one of a kind peer to peer cryptocurrency market place. Their marketplace is 100% non-custodial,...

WorldMarkets continues with the success of its trading artificial intelligence

Today we live in the information age, and access to information is unlimited. And that produces the paradox of misinformation. That's why...

MyTvchain.com Records Growth for The First Blockchain ​​Web Tv Platform Dedicated to Sport Clubs And Athletes

Sophia Antipolis (France) and Singapore: The first web TV platform dedicated to sports clubs and athletes opened in...

Crypto-Broker Instacoins Receives Operating License in Estonia

Instacoins Estonia OÜ, a cryptocurrency brokerage, is pleased to announce it has received an operating license from the Estonian Financial Intelligence Unit (FIU). The...