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Overview of SpankChain
Spankcoin uses the ERC-20 SPNK as to monetize content from rights holders and producers of content on spankstream.com. This is an adult film site where any consenting person can legally upload their videos.
The platform therefore uses the Ethereum blockchain to facilitate convenient streaming of adult content. This is because performers earn from views by members using newly issued Spank coin token.
All kinds of performers, models and studios get to upload amateur and professional videos and earn competitively based on sales. The issued Spank coin is in the form of micropayments to the content owners. There is a Spank wallet which allows users to either load on the payment channel or rely on value tips to performers.
This platform has ridiculously low fees for users. This is because Spank coin has a proprietary in browser micropayment processor. Additionally, the platform has no chargeback because it is a new financial ecosystem. Lastly but not least, the platform ensures user profile and payment anonymity. This is great for an adult entertainment platform as users would not be comfortable having their identities in the open.