Honest is a social network and content publishing platform that allows writers, creatives and creators to earn Bitcoin for their quality content.
Honest Cash and Micropayments
Micropayments have been talked about since the 1990s. At that time, it seemed like the obvious way to monetize content on the internet. But it never happened at scale. Instead, we have an internet funded by ads and subscriptions. Why didn’t micropayments ever take off? Until Bitcoin (BCH) was launched in 2009 and started to increase block sizes since 2017, it wasn’t possible to send micropayments over the internet cheaply.
Companies found a workaround by selling data to third party advertisers and charging monthly subscriptions. Although these methods have worked well for some businesses, they have not worked so well for most creators or consumers. Indeed, the better those platform have monetized, the worse the user experience has become. That's where Honest comes and allows a direct transfer of value between the reader and the writer without any intermediary.
Why do upvotes cost 10¢ on Honest?
Honest users can now submit content with a premium section behind a pay wall, at a location and price of their choosing, and charge readers to access the premium version of their content. It is yet another revenue stream for creators on Honest along the upvotes.
As paywalls become a new way for writers to earn from their quality content, we are making upvotes 6 times less, bound now to 10¢.
Where do the upvotes go?
We have introduced a model in which users are rewarded for the upvoting, promoting and sharing good stories The current upvote amount goes 40% to the writer and 60% to the previous up voters.
The payments are peer-to-peer and happen without any intermediary. You receive bitcoin (BCH) from the upvote transactions as soon as the transaction is broadcasted.
Honest Cash does not charge any fees for sending upvotes.
What comes next for Honest?
Next, you will find exclusive updates with the entire product roadmap for the next months. Also, we will give you insights about where we want to position Honest long-term.