An Adult-Entertainment Payment System and Livestreaming Website.
Buy before the Hype.
Looks like they are ahead of Raiden in terms of Payment Sidechannel for Ethereum and the Coin is stakeable and regularly emits "booty" tokens.
They developed the "CryptoTitties" game which maybe can get as much traction as CryptoKitties.
Interesting Coindesk Article about Spankcain "Why Crypto Needs to Start Talking Seriously About SpankChain"
www.coindesk.com/cry...eriously-spankchain/
The Article says:
"The company, SpankBank is just one part of a technology stack that makes cheap, quick and easy micropayments to performers possible.
It starts, though, with the company's spankwallet (formerly called "vynos"), an in-browser wallet that connects to an ethereum payment channel. This wallet allows users to load ether into a payment channel with SpankChain and use that value to tip performers.
Ethereum's fee mechanism, gas, is only charged when users open a new payment channel or exit a payment channel, otherwise users can make as many transactions as they want (or can with the amount of value they put into the channel) without a fee from there.
In building this, SpankChain seems ahead of ethereum developers more broadly (like those behind Raiden or FunFair) who have been working on building useful payment channel technology for the blockchain for some time.
The spankcoin token then is used for staking to the SpankBank, and it then regularly emits another token called "booty."
Booty can also be used to tip performers, which helps becuase it's the only token that can be used to pay the service fees accrued by using the SpankChain cam site.
SpankChain's service fees, for hosting the site and doing administrative work, such as verifying all performers are of age, are slated to be 5 percent of the performer's revenue, which compared to the up to 50 percent mainstream porn sites charge, is likely very attractive to talent.
Performers can also stake their own spankcoin to receive booty or exchange ether for booty to pay their fees."
"SpankChain has developed a preview game called CryptoTitties, a pun of the insanely popular cat breeding ethereum application CryptoKitties."
Buy before the Hype.
Looks like they are ahead of Raiden in terms of Payment Sidechannel for Ethereum and the Coin is stakeable and regularly emits "booty" tokens.
They developed the "CryptoTitties" game which maybe can get as much traction as CryptoKitties.
Interesting Coindesk Article about Spankcain "Why Crypto Needs to Start Talking Seriously About SpankChain"
www.coindesk.com/cry...eriously-spankchain/
The Article says:
"The company, SpankBank is just one part of a technology stack that makes cheap, quick and easy micropayments to performers possible.
It starts, though, with the company's spankwallet (formerly called "vynos"), an in-browser wallet that connects to an ethereum payment channel. This wallet allows users to load ether into a payment channel with SpankChain and use that value to tip performers.
Ethereum's fee mechanism, gas, is only charged when users open a new payment channel or exit a payment channel, otherwise users can make as many transactions as they want (or can with the amount of value they put into the channel) without a fee from there.
In building this, SpankChain seems ahead of ethereum developers more broadly (like those behind Raiden or FunFair) who have been working on building useful payment channel technology for the blockchain for some time.
The spankcoin token then is used for staking to the SpankBank, and it then regularly emits another token called "booty."
Booty can also be used to tip performers, which helps becuase it's the only token that can be used to pay the service fees accrued by using the SpankChain cam site.
SpankChain's service fees, for hosting the site and doing administrative work, such as verifying all performers are of age, are slated to be 5 percent of the performer's revenue, which compared to the up to 50 percent mainstream porn sites charge, is likely very attractive to talent.
Performers can also stake their own spankcoin to receive booty or exchange ether for booty to pay their fees."
"SpankChain has developed a preview game called CryptoTitties, a pun of the insanely popular cat breeding ethereum application CryptoKitties."