One of the most annoying things about the internet is the ads.
If you search the internet for anything, nearly all the pages that you’ll go to will be covered in ads. Ads help pay the people bringing you some of your favorite content, but we’re right there with you if you’ve closed out of your browser because too many ads slow down your computer. Even news sources now will only show you one paragraph of the entire article before they ask you to pay to see the rest.
Ads have been presented as a necessary evil, one of those things that we just have to learn to deal with in order to get what we ask for. All we want to do is know who the actor is who plays that one character in that show. That’s it! It’s so frustrating – but we might have found a way to both get around the ads and help pay the people who are just trying to give us the entertainment and information that we crave.
Coil was launched by Stefan Thomas, the former chief technology officer of Ripple Labs. With Coil, content creators on some of the biggest platforms like YouTube, Twitch, and Wikipedia will be able to accept payment in the form of XRP tokens, number three on the list of most valuable cryptocurrency.
In a post on Medium, Thomas says that he has stepped down from Ripple to continue work on Coil, which will “provide a third option outside of advertising and side-by-side subscription models.”
Right now, Coil is invite-only. But if you download it, you’ll pay a flat $5 monthly fee to bypass paywalls with the use of the XRP and Interledger technology created at Ripple. This tech will use cryptocurrency to pay any content creator using a program called Web Monetization which transfers small quantities of money.
There isn’t a set launch date for Coil, but when it’s available there won’t be a need for a ton of ads up on websites or popping up in videos. Download the Chrome extension and the creators will get more money as you spend more time on their website. If you’re interested and want to keep up with the development of Coil, you can go to the website and sign up for the preview.