The social network that allows you to earn Bitcoin with your publications

Social Network Earn Bitcoin
Last updated:

The new decentralized platform based on the Bitcoin Lightning Network allows the creation and exchange of content.

In the framework of the exponential growth of the cryptocurrency ecosystem worldwide, more and more platforms and applications decide to incorporate them into the payment system.

Zion is a new decentralized social networkbased on the Bitcoin Lightning network, which allows, among other things, the creation and sharing of content. It does not store personal data and even users will be able to send and receive payments in the leading cryptocurrency.

“By replacing digital intermediaries with transparent open-source protocols, Zion dodges corporate profit motives and grants each user total sovereignty over their entire digital experience, absolute freedom of expression and irrevocable custody of their personal information”, they explain on their website.

According to the company, users have the ability to reward content creators directly with bitcoin through Lightning. The social network allows users to instantly send and receive payments through their own non-custodial wallets.

The exchange is fundamental in the role of this new social network since through these the money can reach your hands. Imagine getting paid for that perfect meme or hilarious comment on your friend’s post. Turn your comments into cash. Turn your brilliance into bitcoin. Turn your sarcasm into satoshis”, they say from Zion.

Zion explains that messages are “essentially pieces of content overlaid” on Lightning transactions, ensuring that conversations “are untraceable and end-to-end encrypted.” Each message involves sending 3 satoshis which are then returned to the user, therefore the cost is 0.

To enjoy the social network, users must use nodes for the Bitcoin Lightning network. Zion uses the Lightning Network Daemon (LND), an open-source Lightning implementation created by software developer Lightning Labs.

There are two ways for people to connect to the social network. One of them is renting a node, however, this option is not available as after an “overwhelming response” from the public, the nodes were sold out. The rental of each node has a cost of $9; so far they have 367 active nodes.

The second option is to configure your own LND node with the relay software. The nodes also include a “preconfigured channel” that allows you to use LND immediately and thus access the application in the same way as any other social network.

In terms of income methods, the company has two models. The first is the hosting of the nodes and the second is the network routing fees, that is, a commission for facilitating payments between users through Lightning.

In this regard, the creator of Zion, Justin Rezvani, made it clear that each user “has full control of their funds, since they are the ones who manage the private keys. They are running their own nodes and have full custody of their bitcoins. Whoever controls your private keys controls the nodes”.

For now, Zion can only be used through a mobile app on iOS. They plan to launch the app for Android in October 2021 and for the desktop at the end of the fourth quarter of 2021.