Senior Developer of Mozilla Tests Out XRP-Using Coil Venture for Monetization
- Web monetization will be tested for Mozilla.
- Creator of Coil stated that the use of Coil will make it the first company to pay with web monetization, if successful.
Stefan Thomas, the creator of the Interledger Protocol (ILP), launched a venture called Coil, which has gained some attention at Mozilla. Senior developer Davis Walsh noticed the ways that Coil uses ILP and XRP in a way that can monetize the creators and has chosen to test out the concept for their own use.
The implementation of Coil makes it possible to give content creators the revenue they deserve, while promoting easy access to the content for consumers. Coil tweeted their appreciation for Walsh’s testing of their infrastructure.
— Coil (@Coil) May 22, 2019
XRP is designed in such a way that micropayments are fairly simple, which is why Coil uses it to work around the revenue model. In a previous blog of Coil, the platform explained that many websites rely on ad-supported revenue, simply because the technology for this kind of endeavor wasn’t ready.
The authorization of payments and coordination with different merchants makes the entire process complicated.
During the blog, Coil adds that they have already worked with many big names to make the W3C Web Payments Request API what it is, including Microsoft, Google, and Mozilla, among others. This API has already been added to both iOS and Android devices, but Coil wants to “go so much further.”
Between XRP and ILP, Coil’s decentralized platform is capable of processing a “trillion” transactions within a single second. Thomas commented that Coil will now become the first company that pays to any website with web monetization, rather than creating yet another proprietary platform.