Coil, a venture launched by the creator of Interledger Protocol [ILP], Stefan Thomas, is being tested for monetization by Mozilla’s senior developer David Walsh. Coil makes use of ILP and XRP to monetize creators and put an end to ad-based monetization by mainly helping content creators while allowing the consumers to access content online easy.
— Coil (@Coil) May 22, 2019
Since XRP can better handle micropayments, Coil is using it to get work around the ad-based revenue model. A blog by Coil previously stated:“One of the reasons the ad-supported model is still so dominant is because payments technology wasn’t ready yet. Each payment currently requires multiple steps just to authorize it, let alone signing up with different merchants. We’ve worked with Microsoft, Google, Mozilla, and others to create the W3C Web Payments Request API that has been rolling out to billions of iOS and Android devices but we can go so much further.”
Moreover, with XRP and ILP, Coil can process a “trillion” transactions per second without any central authority. Stefan Thomas, the inventor of ILP and creator of Coil said:“Instead of building yet another proprietary platform, Coil will be the first company to pay out to any website using Web Monetization, a new standard for how browsers can pay websites using Interledger.”