Good news, everyone! About six weeks ago we announced our partnership with the IOTA Foundation and started working on a demo website that looks almost exactly like the current SatoshiPay implementation, but features a completely new payment backend based on the fee-free IOTA network.

As of today, we have a working demo that supports initial funding of the SatoshiPay web wallet with IOTAs, nanopayments for individual content items and pay-outs to content publishers. As with the current SatoshiPay solution, no extra software needs to be downloaded by the consumer and there is no log-in. The consumer also never gives up control over their funds, because their private keys approving fund transfers is never shared with SatoshiPay.

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The creation of the proof-of-concept website coincided with the announcement and early release of IOTA’s new Flash Network technology, which allows instantaneous payments by creating a layer on top of the IOTA ledger. Our demo features a fully browser-based implementation of the Flash Network and we are in close contact with IOTA’s core developers to exchange test feedback with them.