Micropayments

Micropayments in Litecoin involve minimal transactions, often less than a dollar, using the Litecoin cryptocurrency. These are commonly used for low-value purchases such as music streaming platforms, digital goods, tipping, or small donations. Litecoin's low transaction fees make it cost-effective for sending small amounts of money. Its support for a high volume of transactions ensures efficient handling of numerous small transactions.

Use Case: Game Streaming Platforms

1.    Virtual Goods: Buying In-Game Items, Skins, or Currencies

• The game streaming platform selects an appropriate subscription plan.

• The gaming platform creates a central wallet and generates an address where each player can send LTC funds

• Each player creates an in-game wallet. The in-game wallet can be funded using fiat currency or transfers from other wallets.

• An in-game marketplace is established where players can browse and purchase virtual goods such as items, skins, or in-game currency.

• Players send LTC from their in-game wallet to the platform’s central address to complete transactions.

1. Tipping Streamers: Viewers Can Tip Game Streamers Small Amounts During Live Streams

• Each streamer creates a Litecoin wallet linked to their streaming account.

• Create a tipping interface within the streaming platform where viewers can easily tip streamers by sending LTC.

• Streamers broadcast their gameplay live on the platform.

• Viewers see a tipping option alongside the live stream.

• The viewer selects the tip amount and sends LTC funds.

• The platform processes the micropayment from the viewer's wallet to the streamer's wallet by creating a transaction, signing it, and broadcasting it.

• The platform displays an acknowledgment of the tip (e.g., a thank-you message or an on-screen animation).