Bitcoin SV’s Social Platform Twetch Introduces Streamlined P2P Payments

Bitcoin SV-based social media platform Twetch has introduced a feature intended to streamline peer-to-peer (P2P) payments.

Twetch is a social media platform similar to Twitter where users have to make micropayments for posting and engaging with content on the platform. Content creators are directly rewarded for their work through a revenue sharing system based on likes and shares. The platform is now in private beta.

Payments feature styled as command line

Twetch has launched the feature which lets users send BSV to each other by entering the command-line “/pay”, a user’s tag, and the dollar value of the transfer into the app.

Twetch payments are on-chain, meaning that transfers can be publicly validated. Tagging users on the social platform also pays them $0.001 in crypto.

Together with the new payments feature, Twetch has implemented “read API” to the social platform’s software development kit (SDK) on GitHub. The functionality allows developers to build customized Twetch clients which can filter content by a certain topic.

The platform has also rolled out an “advanced search”, however, it is available for $1.

Twetch data is preserved on Bitcoin SV network

Twetch states that users have full control over their data and content on the platform, as they write it to the Bitcoin SV platform. Twetch’s CEO and founder Josh Petty has called the platform “an interface to publish and view information on Bitcoin [SV].”

Petty said that the platform helps prevent fake news from spreading by financially disincentivizing bots on the social media platform. Posting to the Bitcoin SV blockchain costs $0.02.

The platform seems to be one more step towards nChain Chief Scientist Crag Wright’s vision for the Metanet, which is a blockchain-driven version of the internet where all activity is recorded on chain.