Inputs IO recently launched as a Bitcoin hosted wallet service. It works a lot like any other web based wallet but it has a really cool twist. Rather than always using the block chain to send and receive Bitcoin, it allows one user to send Bitcoin to another user bypassing the block chain and its transaction fees. For example, if you wanted to send me a tip from your Inputs IO wallet, all you would have to enter into the “to” field is my user name, which is “wiser-” You don’t have to know my wallet address or even my email address. If you subscribe to my email list, as long as you used the same email address to register your Inputs IO wallet as you used to subscribe, I could potentially surprise you with a tip.
Because transactions can bypass the block chain they do not require the lengthy confirmation period. Transactions sent through the Inputs IO network register immediately as completed transactions. However, any transactions sent through the block chain do have to wait for confirmation. There are times when you just don’t want to have to wait to be able to use your newly deposited Bitcoin!
I have to study up on this to understand it, but Inputs IO uses an API script to make it easy for people to accept payments online as in for a retail website.
The ability to bypass the block chain opens up all kinds of possibilities, a really huge one being a new kind of faucet. Rather than depend on a service such as CoinBox to aggregate many micropayments into one somewhat larger lump sum, this kind of faucet simply forces you to register for your own free Inputs IO wallet in order to receive the payouts.
It’s well worth it, even without the great features of the Inputs IO network, because these faucets are much more generous than the traditional ones have been. In fact, I recently noticed that all the CoinBox faucets have increased their payouts from 1 uBTC to 2.5 uBTC. I don’t know if it’s because of the new Inputs IO faucets or if it’s merely a coincidence. Either way, it works out well for me (and for you).
I expect to see Inputs IO faucets multiplying because there is now an open source script that anyone can use to set up their own faucet the way the above three are set up. As I learn about them I will add them to my faucets page. If you know of any not mentioned on the page, feel free to mention it in a comment to this post
Read Inputs IO and the two most generous faucets on the Devtome!