In an agreement that brings about a “sail-setting” change for the content writers and publishers, Coil, the micropayment-streaming expert has shaken hands with Hacker Noon. The deal will see the former investing a sum of $1 million into the funding for Hacker Noon. This enables Coil to get the authority for streaming the micropayments to the content developers who are the publishers or hosts on Hacker Noon. The micropayments will be streamed through the custom digital currency wallets or even the fiat currencies.
The $1 million invested amount is said to be particularly directed to the software development and other issues for Hacker Noon after their split with Medium. The deal also sees Coil get a significant stake of 8% and a few other privileges in the Hacker Noon platform. The deal is already done and the companies have issued a formal recognition of it too.
Hacker Noon and its Preamble
Hacker Noon also happens to be one of the well-sought platforms for the technologists and also the crypto experts. The platform also sees a host of these individuals who publish, read, and write for the concerned area of expertise.
An idea of Hacker Noon’s individual significance can be understood from the fact that it hosts almost 4 million potential readers in a month. The platform presently has a strength of 12,000+ active content contributors who are publishing or writing these contents.
The Basic Ideology of Coil Matches Hacker Noon’s Bucket List
Stefan Thomas, the man also famously identified as the former Ripple CTO, is the brain behind Coil. The core content of Coil’s existence is to promote the idea of Web monetization and support micro-tipping. By doing so, the firm enables the content creators and the technologists to get the deserving XRP. This means that the micro-tipping helps in promoting the important aspect of web monetization and the idea for the right people to get their dues.
The Ripple (XRP) Connection
The main principle is to understand that Coil has the essential backing of the Ripple (XRP), monetarily and ideologically too. The revolutionist in the field of web monetization finds so because of the core think-tank and its frequency match-up with Coil.
Ripple is essentially a form of cryptocurrency that enables within the peers’ transfer of monetary realizations through a secure channel. Hence, the amalgamation of both enables an easy and fast method for the transfer of the digital currency to the host content developer from the reader’s digital wallet through micro-tipping.
Micro-Tipping and it’s ‘Content Connection’
The idea is not that of a usual payment gateway or subscription. The coil has its usual array of subscribers, each hosting a digital wallet or payment medium. When these individuals access Hacker Noon, the average they spend on content and reading through also what matters for micro-tipping. The more the time, the higher the shift of currency from the reader’s micro-tipping tool (or the wallet) to the publisher or the host for the content. This enables the writers and developers to monetize their content and sustain the onslaught of the profession, all on the basis of sheer quality.
Connecting the Blocks with Hacker Noon’s Past
It is not very long ago that the hacker noon hosted an emotional and convincing message after the split with Medium. The firm announced it also on their official site and explained how they needed to operate on their own software hereafter. The step is also important in Hacker Noon and its growth journey towards a technical content and media hosting firm.
However, while it may sound like a breakup story, the contrary holds true. Hacker Noon credited Medium for the contributions to date and even duplicated their library so far in what they also regarded as the “parting gift”.
What are the changes expected?
Hacker Noon’s End of the Deal
A detailed, Hacker Noon gets the right tool for micro-tipping integration. In addition, the firm also gets the $1 million backings for its research and software development after splitting with Medium. Moreover, the deal is over a period of 3 years. Hence, it will see the Coil think tank taking various steps to exercise different Hacker Noon aspects.
Coil’s End of the Deal
Coil has been pretty vocal about the quality of content and potential of Hacker Noon. They have their forever mission of web monetization and that gets another boost. In addition, the tool for micro-tipping finds a large scale implementation to given the density of Hacker Noon and its library strength. An eight percent hold in a futuristic prospect like HN is not a small deal, all things considered.
Reader’s Side of the Story
For the readers, the changes are not major. Coil with its set of subscribers will enable the access to Hacker Noon platform. The subscribers can then go to access the content and there will be no changes at all. The micro-tipping will take care of the monetization part for the reader and hence the content shall get its worth for the value that it provides. Meanwhile, the transactional operation through cryptocurrency implements the use of crypto wallets for the users.
The Biggest Winner
Among all the hullabaloo, it should not be overlooked that the content host i.e. the publisher or the writer emerges a big winner. This happens so because of the justification through monetization of the content that they publish. While the aspect of micro-tipping and also the web monetization see advancements, this also has a futuristic view. More quality and expert writers will be willing to come forward and share their work, thus benefitting the platforms involved and the readers too.
Meanwhile, Coil has also kept the option for charity through its platform open for the content writers and also the users. A significant amount is expected to go to various social causes through this exclusive effort.