Wietse Wind, one of Ripple and XRP’s programmer has announced its partnership and integration with Coil , which will make tipping possible on the platform. This will also allow content creators to integrate coin on their platforms and also receive donations from their supporters.
Wietse Wind tweeted,
I am very proud to announce the integration of @Coil with @XRPTipBot Congratulations to the @Coil team with their #launch, and special thanks to @sharafian_ and @baltazar223 – Register at http://Coil.com , and Top-up / auto-donate when you visit a donation page.
What is XRP TipBot?
It is a bot that allows Reddit users to send XRP to each other through reddit comments and threads. To be able to tip using this bot, you have to deposit XRP into your XRPTipBot account first.
This integration will allow users to STREAM payments in XRP. STREAM is an acronym/protocol for ILP that stands for Streaming Transport for the Real-time Exchange of Assets and Messages. STREAMing payments means sending a small and continuous flow of a cryptocurrency, which in this case is XRP. To give an idea of how small these payments are, they are measured in drops, which is the lowest unit of XRP.
Some of the social media announcement to this announcement is as follows.
Sure, no rush. Already the integration is fantastic, KUDOS for that! It’s more for UX purposes, since you don’t wanna scare away donors with those double spends.
Thanks a lot for everything you do for the community mate ;]
Here’s my first ever tip using the tip bot (hope I’m doing it right :D)
Wow. Cool. I have registered but am on the waiting list .. can’t wait to try this out!!
Coil was founded by Stefan Thomas, the former CTO of Ripple and inventor of interledger Protocol. He created the Coil project with the aim of easing micropayments for content management. While he did step down from his position as CTO to focus on this project, he did not severe ties with Ripple as the project is dependant on the technology.
Coil monetization will completely rely on XRP tokens for monetization. While the public and users aren’t aware of coil’s functions to its full scope, they are understanding more about its advancements. According to Thomas,
Coil will use Interledger to make the web a more vibrant market for apps and content, where everyone’s contributions are rewarded.
Wietse Wind said in a statement,
Coil will allow content creators to earn when people are viewing / reading / visiting their creations. Users have a flat fee subscription. Making it possible to send little packets of value from one user to another. Not even a special client required.
He further talked about using ILP stating,
Regarding ILP: when more connectors for other currencies (or who knows, maybe even FIAT) go online in the near future, you can send a currency to someone else, “listening” (accepting) another currency. Without the user having to use exchanges, clients, … This will allow money / value to te send easier and cheaper than ever before.
Dr T, a crypto-influencer stated,
Most importantly, 330m Twitter + 150m Discord + 200 Reddit users ALL HAVE a personal ILP address that’s 1 click away! Everyone now use their @xrptipbot and ILP STREAM protocol to STEAM payments as you can see in this video while browsing! #WebMonetization.