The platform does not require any type of KYC verification (“Know your customer” policy) while it allows uploading videos and making live broadcasts.
Lightning.video, a platform that allows content creators to monetize their videos through payments in bitcoin (BTC), has allowed its users to generate more than 600 thousand sats since its launch.
The platform was officially launched in November 2021, quite modestly, since the announcement was made through the official Twitter portal of Lightning.video. Since then, more content creators have been uploading their creations to the platform, which has allowed them to generate BTC with immediate payments through the Lightning network.
According to its creator’s compilation, published in a message on Twitter, the income of content creators has exceeded $ 250, based on the current price of bitcoin. This in just 2 months from its launch.
It’s been two months since we launched a little MVP called https://t.co/Y8JqwMnNOj ⚡️Creators have since earned over 600k sats of KYC-Free #Bitcoin ???? between tips, paid comments and paywalls. THIS IS THE WAY.Stealthy feature & fix merges regularly, Svelte App soon ™️ pic.twitter.com/X2JgyBQXhL
– Shocknet ⚡ (@ShockBTC) January 6, 2022
Each video allows you to set different formats to generate income: from pay-per-view, to comments and donations. In this way, users are allowed to define a fairly extensive payment scheme, while sharing videos with their followers.
For now, the platform has few videos, including a large amount of adult content, which could even lead to Lightning.video becoming a competitor to platforms such as OnlyFans or Patreon.
Although the platform receives payments in Lightning, these are deposited directly in the web wallet, and it is the user who must proceed to transfer them to their wallet manually.
It should be noted that this is not the first platform of this nature; In 2019 CriptoNoticias reported a video platform with gains in BTC through the Lightning network known as LightTube, although it is still active, it has very few videos.
On the platform there are videos with charges of just 1 sat to watch. Source: Lightning.video
La red Lightning
Lightning Network is a second layer added to the block chain Bitcoin (BTC) that allows off-chain transactions, that is, transactions between parties that are not on the blockchain network. Multiple payment channels between Bitcoin parties or users make up the second layer. A Lightning Network channel is a method of transaction between two parties in which the parties can make or receive payments to each other. Layer two improves the scalability of blockchain applications by managing transactions outside of the main blockchain network (layer one), while also benefiting from the powerful decentralized security paradigm of the main network.
Scalability is a major barrier restricting the widespread adoption of cryptocurrencies. If properly scaled, a blockchain network can handle millions to billions of transactions per second (TPS). Against this backdrop, the Lightning Network charges low fees when conducting off-chain transactions and settlements, enabling new use cases, such as instant micro-payments, that can solve the traditional conundrum of “can you buy coffee with crypto?” Accelerating processing times and reducing expenses. (energy costs) associated with the Bitcoin blockchain.
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