Online tips have begun to gain popularity with the crypto project Tippin. Tippin is built on the Bitcoin Lightning Network and was designed to enable people to receive tips and micro-payments anywhere.
In its 3 months of existence, over 15k tips have been sent, signaling a good momentum for the adoption of the Lightning Network.
Tippin works in a way simple enough for everyday people to make use of. When a user registers, a unique link is shared, to which small amounts of Bitcoin can be sent. Users can withdraw their tips anytime they want, and the transactions are almost free. What Tippin really does is give users a simple web custodial wallet to receive and manage bitcoins through the Lightning Network.
According to Kevin Rooke, Tippin has had 14k signups, 15k tips sent, 4,000 browser extension installed, and 559 channels connected to it.
3 months ago, @tippin_me went live.
Since then, there have been:
⚡️ 15,000 tips sent
⚡️ 14,000 sign ups
⚡️ 4,000 browser extensions installed
⚡️ 559 channels connected to it
⚡️ $30,000+ of potential transaction capacity added to those channels pic.twitter.com/EwuKnbhQME— Kevin Rooke (@kerooke) March 4, 2019
This information was confirmed by the creator of Tippin, Sergio Abril, according to the follow-up by Kevin Rooke.
🙃
— Sergio Abril (@eiprol) March 5, 2019
Sergio Abril created Tippin as a personal project to push adoption for the Lightning Network. Although the project is still in beta and currently limited to receiving and cashing out Lightning payments, the projects include other features in its roadmap, such as integration with merchants and better wallet functionality.
Lightning Network Origins
The Lightning Network was born out of the scaling debate for Bitcoin.
The debate intensified in 2017, which lead to a hard fork and the creation of Bitcoin Cash. Keeping the block size of Bitcoin the way it is required other measures to increase the transaction speed. The Lightning Network was one of the solutions proposed.
The Lightning Network has been making progress since its conception. The capacity of the network is currently at over $2M. It has been slowly gaining adoption, with Square’s Cash App announcing support.
The Lightning Torch currently being transferred on Twitter has given more publicity to the adoption of Lightning Network. Several notable people such as Twitter CEO Jack Dorsey and LinkedIn Co-founder Reid Hoffman participated in the event, which basically involves small amounts of itcoin being symbolically transferred among participants via the Lightning Network.
Several people in the crypto community use Tippin on Twitter today, and it is expected to get more widely used with time.
Do you think Tippin can grow to become a means of carrying out everyday transactions? Share your thoughts in the comments.
