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About Tipbot v1
TIPbot envisions one convenient mobile app capable of tipping anyone in the world using a brand new cryptocurrency called $TIP. Most people don't have cryptocurrency wallets, so TIPbot strives to make the money-receiving process as simple as possible to encourage users to take advantage of this service.
The company's whitepaper includes an example of how to tip a waiter who knows nothing about cryptocurrency using TIPbot.
First, you ask the waiter for their email address. Next, you input that address into the TIPbot mobile app, which will automatically generate a brand new wallet for the waiter funded by your tip. Then, TIPbot will send the waiter an encrypted email detailing what cryptocurrency is and how to access the tokens they just received.
There are no transaction fees, commission charges, or opportunities for a third party to rob the waiter of his rightful earnings.
In addition, the development team behind TIPbot intends to create a special TIPbot for many of the most popular social media platforms. Users will be able to tip any contributor they choose, and recipients will get an auto-generated wallet (if they don't already have one) and instructional message so that they can make use of their tips. Reddit, Discord, and Telegram are specifically mentioned in the whitepaper, though support for additional platforms may be announced in the future.
Currently, TIPbot runs on the Ethereum Network. The company is contemplating developing its own blockchain to minimize the gas fees associated with each transaction, though, so this could change over the long term.