Mithril (MITH) the Decentralized Social Media Platform
Mithril project is aiming to revolutionize the social media by introducing new concept called ‘social mining’ .
‘Social mining’ is a concept where the social media contributors will be awared MITH tokens. The rewards will be directly linked to their influence and success as a contributor on the network. The more network value they bring to the platform, the more MITH they will earn.
Mithril is already operational in the existing app Lit (which can be compared to Instagram). The app allows the users to earn the tokens by posting.
Mithril is already used as an utility token on the Lit app. The app allows the users to mine the tokens as rewards when they create popular posts.
The other aim of the Lit app is to provide a vault where users can store, use and exchange the tokens for Bitcoin or Ethereum
The app offers stories (like Snapchat or Instagram), camera usage incorporated, story feed (like Instagram), chat, discover feature and profiles.
Currently the app is available in appstore and Google Store but it’s really not that popular but they are planning to incorporate the Mithril into other social networks in the future.
Mithril is an Ethereum ERC-20 token so it runs on the Ethereum network.
Users earn MITH by posing and can spend them in different apps and for services accepting. MITH as payment. In the future broader adoption is planned.
To help with the adoption The Mithril Integration Protocol is designed for seamless integrations between social networks and the Mithril Ecosystem.
Through this protocol, they intend to make integration of the MITH token, Social Mining, Mithril Vault, Mithril Merchant Network, and other Mithril features easy for major social networks.
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