Mithril is a new type of decentralized cryptocurrency based on the blockchain that will pay users to create content.
User privacy is currently a questionable issue. User payments can and should be the next level of social media. Mithril has the potential to be in the right place at the right time.
Introduction to Mithril (MITH)
Social media is big business. Pew Research shows that 68% of American adults are exclusively on Facebook, and 74% of these users log into the platform on a daily basis. Mark Zuckerberg is over $ 67.1 billion worth of Juggernaut technology. No wonder tech entrepreneurs and startups like Mithril are rushing to be the next Facebook.
Mithril brings this social trend to the blockchain with decentralized competitors (Sapien, Steemit, Sola, Indorse, Waves etc). He initially used the Ethereum blockchain to create an app ecosystem to reward social content creators and curators with MITH tokens.
Binance chain’s transition to BEP2 standards was announced on April 18, 2019 with the Mithril mainnet version. Mithril (MITH) is unrelated and unrelated to Mithril Ore (More), an Ethereum-based project.
Founder Jeffrey Huang believes that creators should leverage the platform to use it as ad bait. Thanks to normalized tipping through Patreon alternatives, social mining has become a new concept and it will be easy to see its rise.
Despite barely making its debut in March 2018, Mithril has rolled up its sleeves to become one of the most valuable cryptocurrencies.
Before discovering the market validity of Mithril and deciding whether it is worth mentioning, let’s examine MITH, the platform’s proprietary BEP2 token in terms of market value and exchange rates.
MITH Token Distribution
There is a total supply of 1,000,000,000 for Mithril. It saw its highest price so far, namely $ 1.47, on May 11, 2018. Since then, the exchange rate has stabilized below $ 0.50 in 2018 and 2019.
Instead of a public ICO, Mithril organized a private ICO crowd sale to investors with the help of accredited. During this event, 400,000,000 MITH were distributed and 50,000,000 Mithrils were retained by the team for development and marketing.
Mithril MITH tokens are issued by participating in common practice, and this social mining game is game changer. It saves Mithril (MITH) that can be spent on other common applications after creating and sharing content. Since Mithril is used as crafting material in the Final Fantasy video game franchise, searching online for questions on how MITH can be spent causes these pages to be confused. It will likely continue for a few more years until the platform has large enough named retail spending partnerships to boost SEO rankings.
Eventually, as with Facebook, a merchant network will be pulled into the ecosystem and open up for direct payments, small companies and large businesses, as well as low transaction fees.
Mithril Vault is the platform’s wallet and syncs and stores MITH to all platforms. It will also allow crypto exchange between MITH and other currencies such as ETH and eventually BTC and fiat currencies. The amount of MITH tokens in your Mithril Vault affects your bet level on the Proof-of-stake blockchain.
It can be traded in many popular crypto markets including MITH, Bitfinex, OKEx, HitBTC, CoinExchange, Bithumb, Bitforex, and LBank. However, most of the trade takes place at OKEx. Trading pairs are typically ETH, BTC, and USDT.
Over $ 50 million of MITH is traded on a daily basis.
Summary of Mithril
Mithril is another blockchain-based social media platform, but that doesn’t mean it won’t be successful. Facebook was created during the MySpace craze and has taken much longer than before. Despite their popularity, Twitter and Snapchat apps have managed to find their own niche, and social mining might just be the USP that needs.
There are several key factors that increase Mithril’s chances of success.
Mithril was an Ethereum-based platform that used the MITH ERC-20 token to encourage social media engagement. The main network is based on Binance Chain as of April 2019.
MITH can be integrated with any social media platform. The team of Mithril plans to partner with existing social platforms around the world to distribute the cryptocurrency and blockchain mining tasks.
Mithril Vault is the platform’s wallet and is used to store funds, stake and exchange transactions with other currencies.
With these pieces in place, Mithril could become the next generation social media platform or become a very expensive flop. Partnerships and their users I