Tipiota has released an exceptional tool. We report about it and also speak to the founder.
What is TipIOTA?
The Internet is full of great content but unfortunately most of its creators never get a dime for it. TipIOTA aims to break this limitation and empowers creators across all social media platforms to earn money for great work. TipIOTA Chrome browser extensions is currently in private beta but the operators are working hard to roll out integrations with as many social media platforms as possible. They have chosen Reddit as the test platform since it encapsulates a thriving and ever growing IOTA community. Once this plugin is widely tested, they aim to quickly extend this offering to all social media platforms beginning with Facebook, Twitter, Medium and YouTube. Now you can finally be rewarded for adding valuable content to any community. TipIOTA distinguishes itself from similar services by it’s ease of use and possible expansion over the entire internet.
How does it work?
It all starts with the Chrome browser extensions which is at the core of the entire process. Once you have installed the TipIOTA extension, all you have to do is to sign into your IOTA wallet. In case you already have a wallet, it’s happy days. Paste in your seed and you’re ready to rock & roll.
In case you’ve never purchased IOTA tokens (coins), it’s very likely that you are not going to have a wallet in the first place. Like with any other currency, you need either a wallet or an account to store your funds. The same applies to IOTA tokens.
The operators provide you with a generator that automatically generates an 81 character seed. What’s a seed? A seed is like a private key/password combined. To access your online banking you would typically key in your name and account number. In case of IOTA wallet, you need to key in your seed to get going. It’s worth mentioning that the seed generator as well as your newly generated seed is always based on the client side, meaning, it’s safe and sound and runs only in your browser. Your private information never gets sent to the operators servers or, in that matter, anywhere else. With all of the security measures in place, the operators would still advise people to always make a designated wallet/seed that’s specifically made only for tips. Treat it almost as a top-up wallet where you store an insignificant amount of coins. This will give you a piece of mind.
It’s paramount that you store your seed safely and don’t share it with anyone since it gives access to your wallet.
Once you’re logged into your IOTA wallet, you will start noticing “Tip IOTA” buttons in line with other social media post or video options in supported social media sites. That’s where you would typically find your “Like” and “Retweet” buttons etc.
Let’s say you’re on Reddit and found an article very inspiring. You learned something new from it and decided to reward the person who wrote it. All you have to do it to click the “Tip IOTA” button on the article. You would then be presented with a pop-up window promoting you to key in the value of the tip. You would key in the amount, click on the“Tip Now” button and that’s it! Conversely, if you write good articles or publish pictures and animations, you can get some donations from Tipiota. A video to illustrate just how simple it actually is.
TipIOTA’s co-founder Roberts Ozoliņš talks to publicIOTA about the latest developments:
„We’ve done a lot of testing on Reddit and, for the most part, everything is working as intended, however, being purely reliant on IOTA tangle can sometimes be a bit of a hit and miss. Often tangle confirmation rates fall below 20% or even 10%, and it shows. Some transactions only get confirmed after hours or even days of sitting in the void. Sometimes it’s hard to get transactions confirmed with a full-blown automated promotion and re-attachment service. Based on the current community enthusiasm, it’s easy to see how this is not going to be a problem in the future, but for now, it’s out of our control.
Besides our Reddit integration, we have built an integration with Twitter as well, although some Twitter API limitations made us discontinue that service. We’re working on a workaround, but it might take some time. We are also working on a new project that will allow people to request and send tips to anyone on any platform without the use of our plugins. I won’t spill the beans just yet, but it’s something exciting and will work alongside our current offering“