Bitcoin transactions utilize the benefits of the Blockchain protocol but suffer resistance again because of the huge transaction fees that get involved while making even small transactions.
These days various micropayment platforms are available in the market to help you with purchasing goods and merchandise at incredibly lower prices like PayPal, M-Coin, Flattr, Jamatto, GNU Taler, etc.
Bitcoin transactions are transactions made in terms of Bitcoin value which is collected in the form of blocks. These transactions are also broadcasted to a network but are not encrypted and can be easily viewed and browsed as collected in the block.
Blockchain essentially is a decentralized growing list of records of all crypto-currency transactions. It uses a distributed ledger technology to record information in a permanent, unalterable and verifiable manner and is perfectly secure by design. Invented by Satoshi Nakamoto in the year 2008…
Though making transactions through micropayment platforms hold numerous advantages like security, payment mode flexibility, anonymity, speed, convenience, reduced risks of credit card thefts, etc. but there are still some drawbacks of using micropayment platforms for making small payments to merchants eventually affecting the success of micropayment systems.
The first generation of micropayment systems was developed during the 1990s followed by a second generation in the 2010s. These days micropayment platforms have become very popular like PayPal, M-Coin, Swish, Flattr, etc.