It’s been some time that Whatsapp has been testing P2P fiat payments for users. Well, Tron is planning to do something similar, yes with cryptos but on a different platform, Twitter. Seedit Tron’s payment platform is soon planning to launch on Twitter allowing users to send and receive TRX across the globe using the social media platform.
A decentralized payment system to pay content creators
While the P2P payment is a really wider concept, Seedit plans to focus on decentralized payments system for content creators such as bloggers, authors, musicians etc.
Seedit has been tested on Twitter and is ready for launch 🚀
— Seedit (@GoSeedit) August 8, 2018
Seedit was created by Torn’s super representative Seasameseed, which is a blockchain community providing fair and transparent participation in industry block generation. The company’s vision is to give Tron hodlers an easy way to send TRX to their favorite content creators, family, and friends. The Video that was released which explains about Seedit says that
“Making a wallet requires little effort. Simply send a payment to a new user and one is automatically generated for them. The private key and wallet address provided by Seedit give users full control, which they can use to link their accounts to their personal wallets and transfer funds quickly and securely.”
Seedit was recently launched on Telegram in last week of July. Along with transfer facility, A bot branded “GoSeeditBot” has been created on Telegram, through the Bot, Tron users check their balance, private key and everything that has to do with their wallet.
— Sesameseed #TRONSR $TRX (@sesameseed_SR) July 24, 2018
Seedit, which is a speedy and seamless transaction protocol, will not just be contained only on Telegram and Twitter but will also be deployed on Reddit, Wechat, and Kakao.
Regarding Seedit rewards and charges, Sesameseed Medium channel had released a post along with their Telegram launched explain the same. Seedit will charge a 0.05 TRX transaction fee on TRX transactions and a 0.25 TRX fee on all other token transactions with the exception of SEED tokens. The fees generated from the will be distributed according to Sesameseed’s 80–10–10 model. 80% of fees will be distributed equally across all community members 10% of fees will be distributed to the developer of this project (Rovak) and 10% of fees will be retained for operating expenses.
Seedit success may soon bring Tron closer to Ethereum or even take it ahead. Justin Sun recently posted that Tron will soon surpass Ethereum in their daily transactions. It has been just a month that Tron has been launched and its daily transaction is already around 128,438 compared to Ethereums 636,342.
#TRON (launched for 1 month) daily transaction: 128,438 vs. #ETH (launched for three years) daily transaction: 636,342. We are on the way to surpass #ETH. $TRX #TRX #ethereum pic.twitter.com/2MlKpqRY2K
— Justin Sun (@justinsuntron) August 8, 2018
Brave Browser working on a similar rewarding model for content creators
Seedit could be a strong competition Brave platform which also provides a similar reward and payment system for content creators and uses Basic Attention Token(BATs) for payments. Recently Brave Browser also announced an ambitious new function that allows Twitter and Reddit users to tip other posters on those platforms through the browser instantly. A CNET story on August 8, 2018, revealed that the ad-blocking browser is trying to completely upend the established order of internet publishing revenue generation by extending the instant micropayments feature currently offered to YouTube content creators to regular posters on social media platforms.
As P2P is considered the future of payments, These early steps by Seedit and Brave would definitely change the face of the industry and will also bring real use cases for cryptocurrencies, internet money in the true sense. On the other hand, Seedit definitely gives Tron an acceleration that may take it ahead of Ethereum
Will Seedit change fortunes for Tron and make it a common transacting currency? Do let us know your views on the same.
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Nilesh Maurya has been associated for past 8 years as an Investment Banker with Omega Capital, a bespoke Investment Banking outfit having offices in Mumbai, New York, Singapore, and Dubai. He has been a regular contributor to business publications such as Business India and Market Express and has been a mentor to many start-up companies. Nilesh Maurya has been associated for past 8 years as an Investment Banker with Omega Capital, a bespoke Investment Banking outfit having offices in Mumbai, New York, Singapore, and Dubai. He has been a regular contributor to business publications such as Business India and Market Express and has been a mentor to many start-up companies. Follow him on Twitter at @KoinKing1 or connect with me on linkedin.