Tron To Launch P2P Payments & Reward System On Twitter
Popular messaging Whatsap has been testing P2P fiat payments between users for some time as of now. Tron (TRX), which aims to decentralize the internet, is going along the same lines.
However, Tron has completed testing P2P payments on Twitter platform. Soon, Tron will be launching Seedit, a payment platform for Twitter where users will be able to send and receive TRX across the world.
Actually, P2P payment is a very extensive concept. However, Seedit aims to concentrate on decentralized payments facility for content providers such as authors, bloggers, musicians etc.
Seedit has been tested on Twitter and is ready for launch 🚀
— Seedit (@GoSeedit) August 8, 2018
Seedit was built by Torn’s super representative Seasameseed, which is a blockchain community giving fair and straightforward contribution in industry block generation. The company’s dream is to present Tron hodlers a comfortable method to transmit TRX to their beloved content creators, family, and friends.
The video about Seedit says that
“Making a wallet requires little effort. Simply send a payment to a new user and one is automatically generated for them. The private key and wallet address provided by Seedit give users full control, which they can use to link their accounts to their personal wallets and transfer funds quickly and securely.”
Notably, Seedit was released for Telegram users in the last week of July. Along with crypto transfer facility, Seedit also offers a bot named “GoSeeditBot.” Using the bot, Tron users can track their account balance, private key and everything else related to the wallet.
— Sesameseed #TRONSR $TRX (@sesameseed_SR) July 24, 2018
Seedit, which is a quick and flawless exchange protocol, will not limit itself to only Telegram and Twitter but will also be deployed on Reddit, Wechat, and Kakao.
Sesameseed Medium channel had published an elaborate post regarding Seedit awards and fees. Seedit plans to charge a 0.05 TRX transaction fee on TRX transactions and a 0.25 TRX fee on rest of the token transactions barring Seed tokens.
The fees generated from the transactions will be dispersed in accordance with the Sesameseed’s 80–10–10 model. 80% of fees will be dispersed uniformly across all community members, 10% of fees will be dispersed to Rovak, the developer behind this project and 10% of fees will be set aside for operating expenses.
Seedit is confident that the success of the project may soon bring Tron shoulder to shoulder with Ethereum or even take it ahead. Justin Sun has predicted that Tron will outperform Ethereum in everyday transactions in the near future. Only around a month has passed after Tron launched its mainnet, but its daily transaction has already crossed 120,000 transactions, compared to Ethereum’s 636,342.
#TRON (launched for 1 month) daily transaction: 128,438 vs. #ETH (launched for three years) daily transaction: 636,342. We are on the way to surpass #ETH. $TRX #TRX #ethereum pic.twitter.com/2MlKpqRY2K
— Justin Sun (@justinsuntron) August 8, 2018
In the future, Seedit may turn into a strong competitor to Brave platform, which is also offering a more or less similar reward and payment system for content providers. The payment is made using Basic Attention Token (BATs).
Recently Brave Browser also declared a grandiose function that permits Twitter and Reddit users to tip other posters on those platforms through the browser instantly. A CNET story on August 8, 2018, uncovered that the ad-blocking browser is attempting to completely upend the conventional order of internet publishing revenue generation by extending the instantaneous micropayments characteristic presently presented to YouTube content creators to frequent posters on social media platforms.
P2P payment facility is expected to gain more popularity in the future. The steps taken by Seedit and Brave are expected to surely change the manner in which the industry will function in the future. The launch of Seedit is also expected to result in the creation of more use cases of cryptocurrencies. Seedit is also expected to give Tron the much needed boost to take a lead over Ethereum.