“By replacing digital intermediaries with transparent open source protocols, Zion dodges corporate profit motives and gives each user full sovereignty over their entire digital experience, absolute freedom of expression and irrevocable custody of your personal information ”, they explain on their website.
According to what is stated by the company, users have the ability to reward content creators directly with bitcoin through Lightning. The social network allows users to instantly send and receive payments through their own non-custodial wallet.
The exchange is fundamental in the role of this new social network, since through these the money can reach your hands. Imagine getting paid for that perfect meme or hilarious comment on your friend’s post.. Turn your comments into cash. Turn your brilliance into bitcoin. Turn your sarcasm into satoshis ”, they say from Zion.
Zion explains that the messages are “essentially overlapping pieces of content” on the Lightning transactions, which ensures that conversations are “untraceable and end-to-end encrypted”. Each message involves sending 3 satoshis which are then returned to the user, therefore the cost is 0.
To enjoy the social network, users must use nodes for the Bitcoin Lightning network. Zion uses the Lightning Network Daemon (LND), an open source Lightning implementation Created by software developer Lightning Labs.
There are two ways for people to connect to the social network. One of them is renting a nodehowever, this option is not available as after an “overwhelming response” from the public, the nodes were exhausted. The rental of each node has a cost of USD 9; so far they have 367 active nodes.
The second option is configure your own LND node with relay software. The nodes also include a “preconfigured channel” that allows you to use LND immediately and thus access the application in the same way as any other social network.
In terms of income methods, the company has two models. The first is the node hosting and the second is network routing fees, that is, a commission for facilitating payments between users through Lightning.
In this regard, the creator of Zion, Justin Rezvani, made it clear that each user “They have full control of their funds, since they are the ones who manage the private keys. They are running their own nodes and have full custody of their bitcoins. Whoever controls your private keys controls the nodes ”.
For now, Zion can only be used through an app mobile on iOS. They plan to launch the app for Android in October 2021 and for desktop at the end of the fourth quarter of 2021.