Mithril, a social media platform with a decentralized nature, rewards all content creators. Mithril calls this “social mining”, which allows users to interact with others and receive rewards.
Mithril can routineblockchain technology to make sure transactions are safe for all events. The blockchain’s decentralized data storage technology allows for the efficient, trustless, and immutable recording of transactions. Mithril’s ultimate goal is to become the best and most efficient blockchain for social networking applications. It is important that Mithril can integrate with major social media platforms. Mithril features were designed to be compatible with major social media platforms.
The team is also developing partner services and apps that accept MITH. The team has also created a Mithril Integration Protocol that allows seamless integration between the Mithril Ecosystem, social networks, and other platforms. The team will continue to evaluate Mithril in light of the evolution of blockchain platforms. This will ensure that it offers top community support, transaction costs, and scalability.
What is Mithril?
Mithril, a social media platform that uses the EthereumBlockchain, is decentralized. Mithril can be combined into existing social media networks to reward content creators who contribute to the network. This is called Social Mining. Dwarves will not mine Mithril.
Mithril (MITH), will use blockchain technology to make sure transactions are nontoxic and secure for all events. This technology is based on decentralized data storage, which can store transactions between parties in an efficient, trustless, and immutable way.
MITH will be launched as a utility token on Lit. Lit is an innovative social media platform that caters to the current generation’s needs. This new generation of social media users is looking for a platform that meets both their growing needs and their early crypto adoption needs. Lit is ready for launch with features such as instant messaging and story feeds.
Lit will allow Social Mining of MITH users to earn rewards for contributing personal content to the network. It also provides the Mithril Vault to its users, which allows them to store, use and exchange MITH for BTC or ETH. Lit will seamlessly integrate with major social networks, allowing users to monetize personal content more easily. Users will be able to use their MITH tokens to purchase them in the MITH app ecosystem. This includes dating services, premium content channels, and live-streaming applications.
At launch, the Mithril Merchant Network will allow MITH to be accepted as a payment method by retailers in Taiwan and Hong Kong. With its social influencer user base, the MITH network will make a desirable customer base that Mithril Merchant Network partners can benefit from a deep MITH integration.
How to Buy Mithril?
To make it easier to buy Mithril, find an exchange that accepts both fiat currency and cryptocurrency. An exchange that supports MITH can open an account. To buy Mithril, fund your account using a bank transfer. Next, complete your Mithril purchase.
The MITH Token
Mithril token MITH is based on Ethereum’s ERC-20 standard. This means that you can store your MITH tokens anywhere Ethereum wallet supports ERC-20 Tokens. Social mining will receive 35 percent of the MITH total. This will result in the distribution of 350 million MITH over the next few years. Over some time, the available MITH to discover will be reduced by half each year. Social mining rewards will decrease exponentially as a result. All 350 million MITH will be distributed and mined after the mining period.
For a secure, reliable, and safe infrastructure, all transactions related to social miners will be secured. It is possible to verify and track every transaction on Ethereum.
The token exchange will receive 30 percent in addition to the 35 percent of MITH for social miners. It is currently in its second phase and has completed the first round. Twenty percent of the MITH goes to community development such as security testing, bounty programs, and five percent each goes to future reserves, early backers, advisors, the development team, and future reserves.
What is Lit?
Lit is currently in beta and is one of the core components of Mithril. Lit was produced by the Mithril team to address the needs of current generations who are interested both in cryptocurrency and social media. It will allow users to discover new friends, share their stories, and communicate with each other instantly. Lit will seamlessly integrate with the major social networks to help users make money from their content.
Lit Stories users will be rewarded with MITH based on the impact and influence of their stories. Lit Stories work in the same way as stories on other platforms. They appear for 24 hours and then disappear. Stories can contain posts, videos or slideshows, or individual photos. They can be either public or private. This option allows users to keep their privacy and still do social mining.
Mithril (MITH), Features
This social media is crucial for Mithril’s value and network growth. It encourages network adoption. It provides partners and users with benefits as well as reward development. It allows mobile wallet adoption which is vital for the platform’s success.
The platform aims to build a complete and comprehensive ecosystem around MITH. The token can be obtained by staking (on Steaker), and users should be able to spend it in different real-life situations and settings.
The platform is connected to a wide network of partners and other organizations. This allows the platform and other marketplaces to collaborate. MITH tokens can be used to buy video, entertainment services, or daily stuff. Platforms (including marketplaces) will continue to grow their partnership.