I’ve been experimenting with Money Button and connecting it to Ethereum Classic (ETC), and have created a cross chain system in which you can donate with Bitcoin and receive an ERC-20 token that pays dividends based on other transactions in the network.
- Visit dappdirect.net and make sure you have Saturn Wallet (an ETC wallet) installed, you don’t need ETC in it. Disable metamask if you have that installed.
- Donate at the bottom using Money Button and Bitcoin.
- If Saturn Wallet is running, you will be notified that we received your donation and are sending you a token in return. The token will arrive in around 15 minutes.
What’s going on behind the scenes? Whenever the money button is used, the TxId and your in-browser ETC address is sent to our server. Our server then checks the transaction on Bitcoin blockchain, and if it is valid, it will send you a comparable amount of token. This token, P3C, is completely redeemable for real ETC on our website, or you can choose to hold it and earn dividends. Every time P3C is bought, sold, or transferred on the network 10% goes to all token holders.
Why are we doing this? We believe Bitcoin is the ultimate medium of exchange, however if we can add a rewards points system on top of it, which is what we’re trying to do on P3C.io, consumers will demand BCH payments. Right now many people use credit cards because it gives them rewards. We want to do the same in a decentralized manner. Give it a try!