Nostr and Micropayments

Nostr, love at first sight | Dries Buytaert

- Nostr]" is a protocol for distributed social networks. - It uses public keys to identify users and sign events (messages), and shares those events through servers called relays. - These events can be anything from social media posts to chess procedures.

• Micropayments, on the other hand, refer to small-scale financial transactions for digital goods and services.

  • In the context of Nostr, the concept of “Zaps” is mentioned.
  • This is a micropayment using Bitcoin’s lightning network.
  • Nostr does not directly use blockchain technology, but supports micropayment integration at the protocol level through “Zap Requests” and “Zap Invoices”.

• The connection between Nostr and micropayments comes in the form of these “Zaps”.

  • This mechanism rewards content creators and covers the cost of maintaining relays (servers),
  • Or the possibility that micropayments will make it economically difficult to send out spam,
  • It may offer new ways of doing things.

• It should be noted that while Nostr is not a blockchain technology,

  • By integrating with the Bitcoin Lightning Network,
  • This is what makes decentralized financial transactions possible.
  • The Lightning Network is a layer 2 solution for Bitcoin,
  • It increases transaction speed and energy efficiency compared to traditional bitcoin transactions.
  • This convergence of decentralized social networks and financial transactions is,
  • It could bring about major changes in the way we use social networks and interact with them.

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