Launched a browser extension Coil, which will allow users to pay directly to creators of Internet content in tokens, XRP, gaining access to services, requesting membership, and the absence of annoying ads.
Coil is a project of the former technical Director at Ripple Labs, Stefan Thomas (Stefan Thomas). At present, a company in San Francisco launched a beta version of the same browser extensions. As you know, the first such project was Changetip working with bitcoin and now has ceased its activities, however, Coil went further, positioning itself as an alternative to the situation when the opportunity to make money online mainly depends on the amount of advertising.
“For decades people have discussed the potential of micropayments to support content creators who could help us go from a state-based network advertising. Yes, there are services running on a subscription basis that unite content. But micropayments and subscription has always been built on closed systems that cannot embrace the diversity of content on the network,” said Thomas.
It should be noted, Coil — this is actually the first project in which is realized the payment websites using standard Web Monetization based on Interledger. The extension is compatible with many of the most famous representatives of the web industry, including YouTube, Wikipedia, Twitch, Internet Archive, and Beat.
Probably the most opportunities open to users in cases where we are talking about content on a monthly subscription basis. Such a solution is not uncommon, usually subscription allows users to access unlimited content on the site. The fact that users rarely use the entire package, however, pay per view forced.
Coil offers another option: the browser extension will provide access to the content — text, video, music — for XRP.
Many members of the crypto community believe that the Coil could compete with the Brave — at least on the part of micropayments. As you know, Brave is not expanding, but full-featured web browser, offering the same services as Coil, using native tokens BAT. In this Brave already has 4 million active users, and by the end of the year, according to the expectations of the developers, will exceed the mark of 5 million. The browser also provides privacy, which, as a rule, it is important for holders of cryptocurrencies, and blocks ads by default, offering innovative options. In addition, Brave is already working with YouTube, Reddit and Twitch.
Given this success, I wonder what are the prospects for project Coil. At the moment we can only note that the solution for micropayments in the browser can somewhat enhance “the bullish potential of the” token XRP exchange rate which, by the way, for several days overtaken by the capitalization of a the top currency, but is now back in the red zone.