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Developer Launches BCH-Powered Paywall Service
On Thursday, software developer Alex Winter announced the launch of Satoshiwall.cash, a noncustodial bitcoin cash-powered paywall service. The new platform allows anyone to create a customized paywall that uses BCH for payments so people can monetize their work online.
Also read: Crypto Swapping App Sideshift AI Drops Access Code Requirement
Satoshiwall.cash
If you are an avid news reader there’s a good chance you’ve run into a paywall that restricts you from accessing content unless you pay or sign up for a subscription. Paywalls have been used on the internet for quite some time, but it wasn’t until 2010 that a large number of popular online newspapers started using the paywall system. On November 21, programmer Alex Winter introduced a new platform that lets anyone create a paywall that pays out in bitcoin cash (BCH).
“I’m thrilled to finally release Satoshiwall.cash, the first fully non-custodial bitcoin paywall — Monetize anything,” Winter tweeted. He showed a small demonstration video of the first BCH paywall Winter created for the announcement called “Hello world.” In order to access Winter’s paywall, you need to pay 0.00500000 BCH, or 500,000 satoshis, to unlock the content.
Software engineer Alex Winter’s paywall called “Hello world.”
Satoshiwall.cash is also account-less, which means there are no registrations, no logins, no deplatforming, and no KYC. The application works with any BCH wallet but the website recommends using Electron Cash or Badger wallet. A wallet is needed so you can generate an address for receiving payments with Satoshiwall.cash. If you want to use the platform, simply press the “Create a paywall now” button to get started. In order to show our readers how to use Satoshiwall.cash, I created a new paywall called “News.Bitcoin.com Test Paywall.” I then copied and pasted a sentence from Satoshi’s Bitcoin whitepaper and also left a hyperlink to the document in the body of my message. After submitting all of my customizations, the website said:
Nice — You just created a paywall. Only you can see the content, as long as you don’t close the browser tab — You can now share the link with others.
Creating a paywall using Satoshiwall.cash is fairly intuitive and only takes a few minutes depending on content size.
Monetizing Content With a Paywall Coupled With a Peer-to-Peer Electronic Cash System
The process only took a couple of minutes and the website immediately provides you with the paywall’s link so it can be shared on the web. I set my test paywall for 2,000 satoshis; the lowest that can be set is 1,000 satoshis. According to Satoshiwall.cash, the service also takes “10% of the price or at least 1,000 satoshis.” Press “Copy link” at the bottom left corner of the screen and the BCH-powered paywall link will be copied to your device’s clipboard.
Satoshiwall.cash visitors can also browse the recently created paywalls.
If you are a bit more technical and want to use Satoshiwall.cash’s application programming interface (API) you can access the Satoshiwall API. This way, instead of just sharing a link on Reddit or Twitter, you can add the paywall to an existing website. Anyone can also browse the list of Satoshiwall paywalls recently created by the platform’s users. On Reddit, Winter’s new BCH paywall platform was well received by avid BCH supporters who frequent the forum. “Please let me know about any issues you’re having,” Winter told members of the community on the r/btc subreddit. On Twitter, members of the BCH community gave Winter feedback as well and the software developer responded to the initial assessments of the Satoshiwall platform.
What do you think about the new BCH-powered paywall platform Satoshiwall.cash? Let us know what you think about this application in the comments section below.
Disclaimer: This article is for informational purposes only. It is not an offer, solicitation or a recommendation, endorsement, or sponsorship of any products, websites, software, services, or companies mentioned. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.
Image credits: Shutterstock and Satoshiwall.cash.
Do you want to dig deeper into Bitcoin? Explore past and present cryptocurrency prices through our Bitcoin Markets tool and head to our Blockchain Explorer to view specific transactions, addresses, and blocks.
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Treasury Yields are Plunging Again as JPMorgan Warns of ‘Overbought’ Stock Market
10-year Treasury yield approaches three-week low. Stocks slip from record highs but…
The post Treasury Yields are Plunging Again as JPMorgan Warns of ‘Overbought’ Stock Market appeared first on CCN.com
source https://www.ccn.com/treasury-yields-plunging-again-jpmorgan-overbought-stocks/
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No Deal: U.S.-China Trade War the New Normal for Global Equity Markets
An interim trade deal between the U.S. and China may not get…
The post No Deal: U.S.-China Trade War the New Normal for Global Equity Markets appeared first on CCN.com
source https://www.ccn.com/us-china-trade-war-new-normal-global-equities/
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U.S. Housing Market Waves a Big Red Flag You May Have Missed
The share of U.S. homes seeing a price drop has been on…
The post U.S. Housing Market Waves a Big Red Flag You May Have Missed appeared first on CCN.com
source https://www.ccn.com/us-housing-market-waves-red-flag/
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Dow Strings Together 3rd Straight Loss Amid Rising Market Volatility
The Dow, S&P 500, and Nasdaq declined on Thursday. Investors failed to…
The post Dow Strings Together 3rd Straight Loss Amid Rising Market Volatility appeared first on CCN.com
source https://www.ccn.com/dow-strings-together-3rd-straight-loss-amid-rising-market-volatility/
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Acreage Holdings (ACRGF) Skyrockets as It Penetrates U.S. Market
Acreage Holdings is expanding outside of Canada. The firm is building a…
The post Acreage Holdings (ACRGF) Skyrockets as It Penetrates U.S. Market appeared first on CCN.com
source https://www.ccn.com/acreage-holdings-skyrockets/
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Suspension of Memphis’ James Wiseman Is Why Student-Athletes Should Get Paid
James Wiseman was suspended for accepting recruitment money. Players get punished for…
The post Suspension of Memphis’ James Wiseman Is Why Student-Athletes Should Get Paid appeared first on CCN.com
source https://www.ccn.com/memphis-james-wiseman-student-athletes-should-get-paid/
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Evil Geniuses Prepare For LCS Domination After ‘Bang’ Acquisition
Evil Geniuses rumored to have picked up 100 Thieves ADC Bang. Bang…
The post Evil Geniuses Prepare For LCS Domination After ‘Bang’ Acquisition appeared first on CCN.com
source https://www.ccn.com/evil-geniuses-primed-lcs-domination-bang-acquisition/
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Bitcoin Emits Less Carbon Than Previously Claimed, New Study Finds
Bitcoin has been regularly attacked for its energy-intensive mining process, powered by serious amounts of electricity. It’s been claimed that it leaves a carbon foot print comparable to that of a large city or even a small country, an allegation that often finds its way to the headlines of mainstream media outlets. But a new study proves the devil is in the details. Bitcoin’s CO2 emissions, according to the authors, are much more modest than suggested by previous reports.
Also read: Canadian Company Commissions 3 Bitcoin Mining Units to Restart Oil Well
Getting the Numbers Right
Various studies have painted a pretty negative picture of Bitcoin’s energy consumption so far. “Participation in the Bitcoin blockchain validation process requires specialized hardware and vast amounts of electricity, which translates into a significant carbon footprint,” wrote a team of researchers from the Technical University of Munich and MIT. According to their article published earlier this year, the annual electricity consumption of Bitcoin, as of November 2018, was 45.8 TWh, and the carbon emissions reached almost 23 megatons of CO2, a figure comparable to what Jordan or Kansas City emit each year.
Other researchers have made even bolder, eyebrow-raising claims. A University of Hawaii at Mānoa study released last year suggested that Bitcoin emissions alone could push global warming above 2°C a little over a decade from now, jeopardizing the planet’s climate change reduction goals. “Bitcoin usage emitted 69 MtCO2e” in 2017, the authors concluded based on compiled data on the electricity consumption of the computing systems used for Bitcoin verification at the time and the emissions from electricity production in the countries where mining companies are predominantly based.
However, Susanne Köhler and Massimo Pizzol from Denmark’s Aalborg University believe something’s not entirely right with such estimates. In their publication entitled “Life Cycle Assessment of Bitcoin Mining,” they point out that other studies rely on general assumptions about the CO2 emissions from electricity generation and presumptions that these are uniform across a given country, say China. In contrast, their approach to analyzing the matter takes into account the geographical distribution of mining facilities within the People’s Republic, which hosts a little more than half of all bitcoin miners today, to produce a much lower figure. “It was found that, in 2018, the Bitcoin network consumed 31.29 TWh with a carbon footprint of 17.29 MtCO2-eq,” the abstract of the study notes.
Köhler and Pizzol have emphasized that the Chinese region of Inner Mongolia, which relies heavily on fossil fuels like coal to generate its electricity, is home to only around 12% of the bitcoin miners, while Sichuan, a province where renewable sources such as hydropower generating capacities are widely spread, hosts over 30% of the mining facilities operating in the country. Therefore, Sichuan’s contribution to bitcoin mining’s CO2 emissions is considerably smaller. That has to be taken into account when gauging Bitcoin’s overall carbon footprint in China, given that Sichuan is the largest mining region in the People’s Republic.
Bitcoin’s Impact Expected to Shrink
The authors of the Danish paper have also concluded that the bulk of the environmental impact of Bitcoin was a direct result of the use of electricity and of mining equipment in the minting process. The hardware’s production and recycling had a very limited impact, accounting for only around 1% of the carbon emissions during the studied period. “In contrast to previous studies, it was found that the service life, production, and end-of-life of such equipment had only a minor contribution to the total impact, and that while the overall hashrate is expected to increase, the energy consumption and environmental footprint per TH mined is expected to decrease,” the article stresses.
The two researchers do admit that “The lack of a robust methodological framework and of accurate data on key factors determining Bitcoin’s impact have so far been the main obstacles in such an assessment.” Quoted by New Scientist, Susanne Köhler also remarks that the findings in the study don’t mean people shouldn’t worry about Bitcoin’s carbon footprint, given the growing amount of electricity used for the minting of each new coin. Nevertheless, she insists that things have to be put it in perspective:
On the one hand, we have these alarmist voices saying we won’t hit the Paris agreement because of bitcoin only. But on the other, there are a lot of voices from the bitcoin community saying that most of the mining is done with green energy and that it’s not a high impact.
Besides purely environmental concerns, socio-economic effects have to be taken into account as well. As a sort of a regulatory recognition, the Chinese government recently removed bitcoin mining from a list of unwanted industries. As a result, the minting of digital coins has become less illegal than it used to be, as a Chinese bitcoin miner speaking to news.Bitcoin.com recently put it. The sector has attracted a lot of investment and created many jobs in China. And this year’s crypto market rebound has brought mining back to profitability. The really good news is that you don’t even need to acquire mining equipment in order to participate and profit from the creation of new permissionless money.
What’s your opinion about the carbon footprint of bitcoin mining? Share your thoughts on the subject in the comments section below.
Images courtesy of Shutterstock.
Did you know you can earn BTC and BCH through Bitcoin Mining? If you already own hardware, connect it to our powerful Bitcoin mining pool. If not, you can easily get started through one of our flexible Bitcoin cloud mining contracts.
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Uber’s Ousted Founder is Dumping Shares While the CEO Loads Up
Uber's current CEO Dara Khosrowshahi is on the buy-back train while its founder Travis Kalanick continues to sell his stake, making nearly $1 billion in the process.
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source https://www.ccn.com/uber-founder-share-dump-ceo-loadup/
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What’s at Stake With Masternode Coins?
“Masternode” is a term that echoes less often in the cryptosphere these days, but not because user-controlled nodes have fallen out of favor. Rather, the nomenclature has shifted, with “staking” now used to describe the array of blockchains that fall under this banner. As an examination of proof-of-stake chains shows, masternode coins are very much alive. But as exchanges push staking as a service, are the days of user-operated masternodes numbered?
Also read: Bitcoin.com to Launch $200 Million BCH Ecosystem Investment Fund
5 Years on, Masternodes Are Still Going Strong
When smart contract platform Velas unveiled its masternode staking this week, it iterated on a system that can be traced all the way back to Dash’s arrival on the scene in 2014. Masternodes have evolved significantly since then, with Velas’ staking program reflecting this through provisions like pooled staking, for users who can’t muster enough coins to meet the 1 million VLX threshold, and minimal hardware requirements to lower the technical barriers to entry.
Although a degree of technical knowledge is still required to operate your own node, setup is considerably easier than it was in the early days. Moreover, in the case of pooled staking services such as that offered by Velas via Coinpayments.net, getting started is as simple as sending coins to a specified wallet and then logging back in periodically to collect your staking rewards. VLX rewards start at 8% of all coins staked, for example, which is approximately the same ratio as DASH.
Sites like mnrank.com provide detailed statistics on masternode ROI and provide general market information on the leading coins. Dash invariably sits top of the list, followed by the likes of zcoin, nuls, and horizen. Below that, things start to get sketchier, with some extremely small market cap coins whose primary raison d’être is to provide a return to masternode operators. The site lists a total of 123 coins and 67,000 masternodes that are currently online.
The most popular masternode coins according to mnrank.com
At the height of masternode mania in 2017, when New Zealand’s Cryptopia exchange was still a going concern, there were hundreds such coins, many of which promised astronomical but ultimately unsustainable returns of over 100% per year. To get a handle on the status of staking today, it’s necessary to understand how it was that masternodes came to be.
Mastering Masternodes
There are two reasons why someone might want to operate a masternode – one intrinsic, the other extrinsic. In the case of the former, you might run a node because it pays to do so: in return for locking up a tranche of coins (aka your stake) and validating network transactions using your node, you will be entitled to a percentage of the coins minted by way of reward. In the case of Dash, the stake is set at 1,000 coins – $64,000 at current prices. Assuming a stable price for dash, a node ought to provide a return of a little over $5,000 per year. It sounds like easy money, given that the masternode operator retains their stake, and can sell those coins upon ending their participation in the program. In practice, there are very few coins that can be relied on to sustain their price over a prolonged period versus BTC. As such, aspiring masternode operators need to choose their coins wisely.
The second reason for running a node is down to ideological rather than pragmatic reasons. Put simply, you believe in the project and want to support it as best you can. In this context, maximizing ROI is less important than increasing the network’s decentralization through bolstering the number of masternodes tasked with overseeing onchain activity. Because proof-of-stake chains don’t have miners to call upon to include transactions in the next block, the duty goes to nodes instead. When Satoshi created Bitcoin, he anticipated that all nodes would also be miners. In the event, mining has become commoditized, leading to the separation of miners and nodes. As a result, most Bitcoin node operators are read only, capable of monitoring network activity, but powerless to dictate which transactions are included in the next block.
The Commoditization of Staking Chains
It’s not just Bitcoin mining that’s become commoditized over the years, with power consolidating in the hands of specialist enterprises with the hardware and user base to provide economies of scale. Staking has become centralized by custodians such as Huobi, Binance, and Coinbase, who automatically dispense the “passive income” or staking rewards that holders are entitled to. Coinbase takes care of Tezos, while Binance covers an array of coins including NEO, ONT, ALGO, and KMD.
There’s no such thing as a free meal, though, and while exchanges offering staking as a service eliminate the complexity of running your own node, there are trade-offs to factor in. These include the security risk of storing coins with a third party and the KYC requirements in order to do so, which erode individual privacy. There are other concerns too which affect the blockchain in question. For instance, with exchanges custodying the majority of all staked coins, they also control the governance rights, giving them de facto control over protocol changes and other key decisions that are determined by onchain votes.
Staking as a service is undoubtedly convenient, but it kills off one of the reasons why nodes exist in the first place: to distribute and decentralize power, thereby increasing the censorship-resistance of crypto networks. Regardless, the genie is out the bottle now, and will be difficult to put back now exchanges are offering a superior product in terms of user experience – decentralization be damned. Proof of stake chains such as Nervos, Koti, Fantom, and Solana are poised to launch their mainnets this quarter, followed by Perlin, Matic, Celo, and Near in Q1 2020. The term “masternode” may resonate less frequently these days, but the staking game is very much alive.
Do you think centralization of staking programs through exchanges is unavoidable? Let us know in the comments section below.
Images courtesy of Shutterstock.
Did you know you can verify any unconfirmed Bitcoin transaction with our Bitcoin Block Explorer tool? Simply complete a Bitcoin address search to view it on the blockchain. Plus, visit our Bitcoin Charts to see what’s happening in the industry.
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