Web Monetization Specification
Information was recently released about the work being done on Chromium, and the developers of the Chromium project have announced their intention to implement support for the " Web Monetization " technology in the browser.
It is mentioned that the intention behind implementing this technology is to allow automatic micropayments to website owners for the content users consume. It is hoped that this feature will offer an alternative to traditional advertising and provide more flexible monetization options for websites.
It's worth mentioning that this feature isn't new to web browsers, as Brave implemented a similar feature a long time ago: its famous Brave Rewards feature , which basically allows users to choose to view Brave ads and receive rewards in the form of BAT tokens, which they can then use to support publishers and content creators.
Another web browser that has a similar function is Opera, with Opera Cashback and Opera Points, with which Opera basically rewards users for online purchases with points, which can later be redeemed for rewards or cash.
Regarding the Web Monetization technology planned for implementation in Chromium , it's mentioned that it will allow website owners to receive automatic payments without actively requesting them. For users, this technology promises to be convenient, as it allows them to pay only for the content they consume, without distractions or minimum payment amounts. Instead of traditional subscriptions, which often require a minimum amount (typically between $2 and $5), users will be able to make smaller payments that wouldn't be feasible with conventional payment processing systems.
In particular, web monetization offers two unique features: small payments and no user interaction: users pay or tip for content as they consume it. When this element is incorporated into a web page, it signifies the website's support for web monetization. If a user has their wallet set to a particular website, their browser will automatically start a web monetization session, allowing direct payments from the user to the website
For example, websites that adopt web monetization can offer immediate access to all their content once a user accepts the terms, without requiring upfront payments. After a user consumes paid content, such as a video, the browser will automatically initiate a microtransaction without interrupting the user experience. Another application of web monetization could be the organization of voluntary donations for valuable content: users could set up automatic transfers of small payments to the website owner each time they visit and wish to show their support.
In the simplest case, enabling web monetization on a site simply involves adding a 'link' element with the rel=»monetization property, along with a link to the wallet to receive transfers. Users only need to configure their wallet for that site, and then the browser will automatically start making transfers as assigned by the user. Importantly, web monetization does not allow a site to set a payment amount; You can only declare your willingness to accept payments. The decision on payment size, frequency and the option to pay at a particular site is at the discretion of the user.
With Web Monetization, you can use any wallet compatible with the Open Payments API , which supports wallets from various financial services such as Gatehub and Fynbos. Micropayments are processed using the Interledger Protocol (ILP). Wallet access is provided via the GNAP protocol, which allows the wallet owner to adjust the permissions granted to applications that work with the wallet.
Finally, if you are interested in learning more about this , you can find the details at the following link.