Two days ago, Coil announced, through its official Twitter handle, that it would be debuting a new live, video streaming platform called Cinnamon. Based on the Coil platform, Cinnamon will be integrated with the Interledger Protocol also known as ILP. With Cinnamon, content creators can monetize their content with XRP. The Tweet was as follows:
“We are happy to announce that we have launched https://www.cinnamon.video/, the exclusive video streaming platform for Coil members. This with huge thanks to @Interledger, @Coil, and @Ripple who all made it possible. Stay tuned for more.”
The second part of the announcement was as follows:
“The #XRP ecosystem is ever growing and expanding. Developed on the @Coil platform, @CinnamonVideo is the first ever video streaming platform that allows content creators to get paid by viewers without third-party services. #blockchain, #InternetofValue, #Xpring.”
A Self-sustaining Economy
The streaming platform fits perfectly into Coil’s first product which was a flat-rate subscription. Cinnamon allows consumers to support creators, regulate the number of ads they watch, speed past paywalls and enjoy additional features.”
The Coil platform is built on an open API system called Web Monetization and it makes real-time payments possible. Websites, through this API, can securely reward those who enable their web monetization feature. It creates a self-sustaining economy.
XRP (XRP) Price Today – XRP / USD
As expected, members of the Ripple community have responded to the news. One prominent member, @hodor, said that he is excited about Cinnamon and he cannot wait to sign up and enjoy the video streaming service. He also noted that it would present competition for the number one video streaming service in the world, YouTube.
Another member of the cryptocurrency community with the handle @ridingjapan said that he is excited and he can’t wait to upload videos on the platform. He also said that YouTube needs more competition because of how it treats content creators. The centralized nature of YouTube makes it difficult for content creators to monetize their content. They have strict policies and sometimes disable the monetization option for content creators.
Coil was founded by Stefan Thomas, the developer who created the Interledger Protocol. The platform focuses on content monetization through micropayments and refactoring the web economy. Coil supports Ripple’s Xpring protocol. Xpring is one of Ripple’s products that Settles transactions within 4 seconds using XRP. It is the ideal web monetization tool.
Do you think the development of blockchain-based micropayment options will help create an internet of value where content creators are paid for their work? Share your thoughts in the comment section.