[2016-9-16] Yours Engineering completes first testnet micropayment for Bitcoin..

[newsatbravenewcoin]

There are a lot of great content creators on the internet, but most of them aren’t earning any money. Yours is a a way to solve this problem. By thoughtfully incentivizing payments to creators, we give people a reason to pay for content on the internet. Our app depends on an integrated bitcoin wallet, and this week we have made important progress enabling small payments with low fees: we have broadcast our first micropayment on bitcoin testnet.

http://bravenewcoin.com/news/yours-engineering-completes-first-testnet-micropayment-for-bitcoin-powered-content-platform/

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[Assanger]

"In order to understand the significance of this test, it helps to understand an outline of the Yours tech stack. Yours Core is the code that runs both on a server and in the client. It contains a notion of users, posts, messages, and the bitcoin wallet. As of our April tech demo, we had a normal bitcoin wallet integrated into our product. However, it was clear that at 5 cents per bitcoin transaction, the fees were to high, so we began working on micropayments technology to lower the fees to nearly zero. The fees of a transaction on the blockchain are now an average of 14 cents per transaction.

As of last month, we had finished a proof-of-concept of a routed micropayment. That user-to-user micropayment occurred inside a test suite, and did not actually broadcast any transactions to the blockchain. The difference this time is we have integrated our micropayments technology into Yours Core sufficiently far that broadcasting the transactions became possible. The transactions broadcast successfully."