About the Yours Soft Launch
Yours is like Medium with a pay wall. Users can post articles with embedded content (*), like images, videos and audio, just like Medium. But with a twist - users can place a pay wall at a location and price of their choosing inside the article.
After well over a year of development, we have launched the Yours alpha. The original idea for Yours came from the article Fix reddit with bitcoin in 2015. This sparked a community and eventually a company, Yours Inc., to build and launch the product. We are very happy to be able to pull all the pieces together and launch a fully functioning MVP.
It took a long time to build Yours because of the difficulty of doing micropayments. If your content costs 10 cents, you can't just use Stripe or PayPal, which charge 30 cents or more per transaction. We needed technology based on cryptocurrency to lower the costs.
The first prototype of Yours used a bitcoin wallet. But that was last April, when bitcoin fees had increased to more than five cents. We needed something even cheaper, so we developed a trustless L2 layer on bitcoin similar to the lightning network. This took over a year of development time.
During that time, the cost of bitcoin transactions increased so dramatically, to over $3, that even the cost of just opening a payment channel became prohibitively expensive. Because you have to put multiple transactions on-chain to open a channel, the onboarding cost for a user on bitcoin would be at least $10.
Fortunately, litecoin is almost the same as bitcoin, but has on-chain fees that are lower by 100x. The cost of onboarding a user with litecoin is only 10 cents instead of $10. So we switched to litecoin.
We are currently focused on the high priority bugs before we make an announcement about the "real" launch. During the alpha, please be aware that there is a high probability of funds loss and therefore we recommend keeping no more than $1 on the platform.
Behind the pay wall you will find a description of some of our high priority bugs we intend to fix and what features you can expect to be implemented soon.
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