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SpankChain is a cryptocurrency reserved completely for the world of adult entertainment. This new currency allows users to directly pay adult models or cam girls. Although there are already several other similar technologies in the world of cryptocurrency, SpankChain is likely the most popular of the lot due to its reliable micropayment systems.

The Potentials of Adult Entertainment

The pornographic industry is estimated to rake in about $100 billion dollars in revenue each year. And, although this is a massive market, big names like Visa and Mastercard don’t want to see their names associated with the industry.

In turn, this has a negative impact on both actors, producers, and manufacturers of pornography because to make or receive online payments, they must always use an intermediary financial institution. Although this is typical for today’s technology, the commission fees can sometimes be quite steep and can vary from 15% and 60% of the payment.

Fundraising in the industry is also difficult since there are no banks or institutions that want to publicly support adult entertainment.

SpankChain: A Common Solution

With its micropayment system, SpankChain aims to change to the current state of the industry by levying no more than a 5% transaction fee on each payment. The company also hopes to become a leader in terms of payment for the pornographic entire world of adult entertainment.

SpankChain’s founders are also hoping that adult actors will be able to use it to start their own live cam websites once they have an easy and direct method of payment.  As a longer-term goal, the company also hopes to come out with SpankCard technology, which plans to bring the same benefits to other areas of the adult industry.

The company wants to make access to live streaming video as easy as possible. With its technology, SpankChain allows users to make payments directly through their web browser, without needing any knowledge of Blockchain technology.

The system is based on two different tokens known as the “SPANK” and the “BOOTY”. The “SPANK” must first be purchased online and then can be stored to give the user access to the “BOOTY”. In turn, the “BOOTY” allows them to make low-cost online payments.

The technology also allows group payments. Instead of validating transactions one by one and paying fees for each, users can make several payments at the same time and only pay one transaction fee. This offers a solution to both the problem of high transaction fees, as well as lengthy transaction times.

Just Another Shitcoin

Now, SpankChain is only the tip of the iceberg and there are already several other similar currencies being created. Among them, Porn_x is currently in its ICO phase and is scheduled to be launch on February 18, 2018.

The latter has already been criticized by experts for not bring anything new in terms of originality. Still, despite expert opinion, many believe Porn_x will succeed with the simple promise that it will pay users for watching porn and commenting on it.

With a staggering 1,325,432,459 tokens in reserves, Porn_x could be the next best thing for both the worlds of cryptocurrency and adult entertainment.

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