Bytecoin Wallet 1.0.8 Release Introduces Micro-Donations

The Bytecoin Team has released new Wallet 1.0.8 on October, 01. This version features an option to perform Micro-Donations via Bytecoin Platform. It is a first step towards bringing Donation-Based business model up to a new level utilizing top-notch internet-technologies.

In addition, we have introduced 32-bit version of the Wallet and .rpm package for Unix-like OS in this update.

Traditional donation model features a number of issues. They do not, as it is, concern lack of will to support artists or developers. Users normally intend to do so, but they are stopped short of donating due to the large minimal amount and obstacles they have to deal with to donate.

The main difficulty is that donation requires more than three clicks to be sent. Users are already accustomed to one-click 'Like' to support and express their sympathy, so time-consuming transactions are too awkward now (let alone the necessity to use payment processors).

Therefore, we used the Facebook approach during development. The only thing required from user is to set desired maximum percentage to be donated in the Settings dialog. The rest can be done in one click!

There are two options for donating: a percentage of each transaction or a certain part of Block Reward, if you are mining.

The donation itself can be from 0% to the value you select. Such approach allows for making the donation fee-free. We will describe the process in details in a blog post.

In order to be enlisted, the receiver does not have to perform any complicated operations. All he needs to do is create a link of certain type, which would contain the title of his project and Bytecoin address. Then, place the link anywhere: in facebook, twitter, or even send it via email.

The user should only click the link, and the address will be automatically added to the donations list. He should make sure that Bytecoin Wallet is running though.

Actually, user can support his favorite creators in less than one click. Donations will be transferred to the project as long as it is selected. The user only has to set maximal amount for donating and add new favorite projects to the list from time to time.

Main features of Bytecoin Micro-Donations:

  • Easy to donate - You only have to adjust settings once. Adding new projects takes only one click!
  • Easy to implement - In order to start receiving donations, you only have to publish a link to your Bytecoin account on the site you use
  • Fee-Free Donations - Due to the fact that donation is a part of the main transaction, it is not subject to any fees
  • Regular Support - Periodical transfers from every transaction or Block Reward
  • Micro-Donations - No minimal amount of transaction
  • Simple as Facebook 'Like' but more useful!

We would like to express our gratitude to our friend who envisioned ABISprotocol, which became the basis for Bytecoin Micro-Donations. In today's guest blog post he shares his vision on how micro-donations may change the perceived value of money.

We are sure that Donations based business model has a great potential. Therefore, supporting this course is one of the main priorities for our team.

The fact that the platform is open-source does not only imply that developers can create services using it as a basis. It also means that we are open for discussion of the further ways of development of the platforms. We are happy to answer your questions and will take into account your wishes in our further releases.

You can download Bytecoin Wallet v1.0.8 from our website.

Blog post with technical details is coming soon. Subscribe to our newsletter to get instant notification via email.

comments powered by Disqus

Recent News

The New Bytecoin Roadmap

Here is the new roadmap's visual representation. The main tasks were splitted between Ecosystem and Development fields. ...

Bytecoin Wallet 2.0.7 Update

In the 21st century, speed of delivery is paramount for any kind of business, but especially for software development. E ...

Bytecoin 2.0.2 Software Update

On May 19, the Bytecoin team introduces Bytecoin v.2.0.2. This release marks a major update after extensive core refacto ...