Last month, Yours Network CEO, Ryan X. Charles, announced their platform would be switching from litecoin to bitcoin cash for payments. Now they have a fully functional beta implementation for bitcoin cash. As a result, their platform is more reliable, streamlined, and cleaner.
Bitcoin Cash has Improved the Yours Network; Payments More Reliable
With full bitcoin cash functionality, transactions on the network run smoother and contain less bugs. According to Charles, “payments are far more reliable now because we don’t have dozens of unfinished payment channel edge cases.” He continued, “the big difference between last month and now is that the app is actually good enough to use.”
This implies users should be able to manage their activity on the platform more seamlessly. The micro-payments provided by bitcoin cash also allowed for lower fees. A press release provided to news.Bitcoin.com explained how bitcoin cash improved the Yours platform. It read:
Bitcoin Cash is the same thing as Bitcoin but with low fees. With the launch of Bitcoin Cash on August 1st, which has fees of less than 1 cent, were were able to switch from payment channels to on-chain transactions. This has decreased our software complexity and increased our development speed 10-fold.
New Features
Since Charles and his Co-founder, Clemens Ley, were unburdened by having to make payment channels, they quickly begin improving the network. They added 5 features in the last two days. These features include:
- A voting model where anyone can up-vote something and earn rewards. However, earlier voters earn more rewards. This incentivizes people to vote — they can earn money from voting on something if they vote on something popular early.
- A tipping feature. Anyone can visit someone’s profile and send them a tip.
- The front-page is now sorted by # of votes, so it is better curated. Good content tends to rise to the top.
- Yours Network now charges 10¢ to post content. This has eliminated most of the spam on the platform.
- Yours Network displays reading time before and after the pay wall. This lets people have more critical information about whether they want to pay for what’s behind the pay wall.
Charles commented on the features. He said, “We have a lot more coming. We’re working 10x faster now that we don’t have to spend 90% of our time making payment channels work.”
The Future of Yours Network
The features Charles mentioned are just the beginning for Yours Network. They have ambitious plans for the future. Charles said they have their sights set on eventually toppling the social media giant Facebook. This will happen when people realize the value of using reward-based social media that is not plagued with advertisements everywhere. Charles elaborated:
“We’re targeting a mainstream audience. Once people start to see how much better it is to have payments built into social media, we will grow very quickly. We will also face very serious competition from other startups and mainstream companies. Ads and subscriptions are not good for most content types. P2p payments work for everything else. We believe the scale of the opportunity here is to be bigger than facebook. That will require that we execute very well for 5+ to 10 years continuously.”