To push Bitcoin adoption to new levels, innovative projects need to be created to enable it to become part of our everyday lives. BitMesh is a project dedicated to doing exactly that! This project allows people to share their internet bandwidth in exchange for Bitcoin payments. And, the best part about BitMesh is that everything takes place in true peer-to-peer fashion.
Decentralizing The Internet Through Bitcoin
The BitMesh project is nothing new in the world of Bitcoin and technology, as a working prototype was released a little while ago. Even though this is not a final build, the BitMesh software can be installed on a Raspberry Pi to let several clients connect to it. BitMesh’s software will then establish micropayment channels between the server and client.
Contrary to how others in this technology market operate, BitMesh does not rely on middlemen or third party service providers to match up servers and clients. The amount of internet connectivity time given to the client will depend on the amount they paid so far. As far as the “usage policy” goes, this is entirely determined by the server.
Meshnet attempts have been undertaken multiple times throughout history, and none of these efforts has managed to gain any traction so far. One of the major hurdles to overcome for meshnet projects is getting people to used it; as there is no real incentive to do so. Even rewards, such as coupons and community chat, are not exactly appealing to the everyday Internet user.
Bitcoin offers a perfect gateway in that regard, as it can process micro transactions fairly quickly, letting the clients only pay for the amount of internet they used so far. Unlike the internet connection at home or on a mobile device, BitMesh does allow users to resell their unused monthly bandwidth they would otherwise pay for, regardless of whether it is being used or not.
Solutions such as BitMesh could play an important role in internet usage by tourists and people desperately struggling for internet access. For example, someone who travels abroad will have a hard time finding public WiFi networks unless they go to a major location or a Starbucks store for example; but with BitMesh, public WiFi (at a small cost in Bitcoin) will be available wherever you go.
Practical Explanation Of BitMesh Connectivity
To put the BitMesh project into practical terms, every client will need to connect to a nearby BitMesh WiFi connection. This BitMesh WiFi connection is provided by the client and through the BitMesh app, the server will be receiving the Bitcoin payments directly. Once a client finds the BitMesh Wifi signal, they can connect to it without username or password and start using the internet instantly.
Exciting times are ahead for the BitMesh team, as their prototype will be introduced to multiple Silicon Valley investors in order to raise seed funding in the near future. Even though BitMesh has also attracted quite a few investors and entrepreneurs in the Bitcoin world, it is time to see whether or not the “tech crowd” shows any interest in the system.
Images courtesy of BitMesh and Shutterstock