LeoThreads: Leading The Charge Into Micro-Earning

about 1 year ago

Have you ever thought about Micro-Earning?

This is a concept few consider since it is not something that we have access it. It is only in the financial world, where financial institutions who control their networks can scalp portions of a cent off, equating to a significant amount of money over time.

For the rest of us, we go after the big hits.

However, when we consider the premise, it makes a lot of sense. What if, for example, we could earn a little something for each comment we made online. Think of all the activity that takes place on Facebook each day. How much would that result in if each activity carried a bit of monetary value?

We know the answer to this: it is in the hundreds of millions of dollars on a monthly basis. When you have billions of transactions, even at a small amount, it soon adds up.

Hive is groundbreaking in this regard. We are laying the foundation for Web 3.0 and, honestly, is one of the few chains that can offer this.

LeoThreads: Micro-Earning Exemplified

LeoThreads is Leofinance's version of Twitter. This is something that is less than 6 months old and is about to become a focal point with the release of a new frontend. In the meantime, the numbers are increasing as the userbase adds through the existing UI.

What makes this different?

Honestly, this is one of the first examples that I found which personfies micro-earning. There is no other application out there that has the ability to incorporation what Leofinance did.

To start, we need to be dealing with a system that is feeless. Something like this could not go on Bitcoin or Ethereum. Actually, even the EVMs are disqualifed due to the fees. It is impossible to have micropayments when a fee of even a cent or two is charged.

Hence, Hive's feeless system is ideal.

There is one drawback at the base layer. There is a dust level when it comes to $HIVE. Anything below the threshold is dusted. Therefore, while micropaymets are possible, it is somewhat limited.

Here is where LEO enters. There is no dust level here. Since all votes done on LeoThreads is tied to one's Leo Power, we see the ability to pay even miniscule amounts of LEO.

Let us look at a list of some payouts.

This is a mixture of author and curation rewards. We will cover the latter in a moment.

We can see these are paying out sime small amounts of Leo. When we consider the price of 1 LEO is about 6 cents, we can see how this is not a lot of money. The thing is that this was done in about a 10 minute period of time.

This is what micro-earning is.

Need Support

Of course, there are two sides to this equation. While it is great to have people sharing their thoughts, curators are required.

On Hive, this is a concept that applies to comments. However, we noticed over the years that not a lot of votes are given at that level. Sometimes we have to wonder if even the author goes through the comments.

Nevertheless, LeoThreads is changing this. We already see an active community that is engaging. This means not only are people sharing ideas back and forth, they are giving each other upvotes. This is where we see the rewards starting to enter.

Since we can get a miniscule amount of LEO, each upvote likely has some value. That means both the content creator (threader) and curator are earning a bit. Again, a single vote isn't making anyone rich. However, over time, it all does start to add up.

This is a revolutionary idea that hasn't, as far as I can tell, been fully explored. LeoThreads could be the first, with its own token, to experiment with the concept of Micro-Earning.

If you found this article informative, please give an upvote and rehive.

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