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The emergence of the blockchain protocol and cryptocurrency has solved the rather acute problem of microtransactions or micropayments – a business model in which access to the services or content provided, as well as low-cost purchases, is possible. Small amounts of transactions are unprofitable for electronic payment systems due to large transaction costs, whereas in cryptocurrencies it is very low and do not depend on the size of the transaction. Thus, with the advent of digital currencies, users are able to make micropayments and not spend large commissions on it.
Over time, Bitcoin, which was advertised not only as a cheaper alternative to bank cards, but a revolutionary monetary system, began to decline in terms of those long-awaited free transactions. Global scalability, increased fees, and constantly falling speed of transfers made Bitcoin practically useless for inexpensive massive micropayments. Yet to date, it’s still easier and cheaper for one to order a cup of coffee and pay in cash or by credit card.
Although Bitcoin’s innovative role in the development of the microtransaction industry is undeniable, some cryptocurrencies were inspired by their “progenitor” and began to develop much faster than itself, rather finer tuning the process with the introduction of new SegWit and Lightning Network technologies, allowing developers to create these new cryptocurrencies while meeting the requirements of micropayments, making it more feasible.
When developing ATB Coin, the team used all the capabilities of advanced technologies in order to create a safe and instant way of performing microtransactions by cryptocurrency users. The new standards of ATB Coin micropayments surpass Bitcoin and other altcoins in some aspects: instant transactions, minimum commissions, transparency, decentralization, flexibility, reliability, and efficiency. The combination of technological solutions on the ATB Coin platform enables users to perform any payment operations with a high speed, the size of each of which can be quite small with just a minimum fee, promising significant material benefits in the future.
Microtransactions, carried out in the online mode using cryptocurrency, have already formed a separate economic branch. Their development, initiated by Bitcoin, has become a new era for owners of various online sites with intellectual property, social networks, and mobile applications, as they allow to significantly increase the efficiency of monetizing online resources.
For example, the use of a micropayment system in a decentralized social network Steemit allows people to pay not only for all content but for every single post, comment or advice, replacing regular advertising and encouraging the author.
Furthermore, on popular streaming services, thanks to small fees, it is not necessary to subscribe to the entire channel: the user himself chooses the material (up to one video or track) that he needs, the price, and manages the whole process of the financial transaction from beginning to an end.
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