Now social networks are a common means of use, cryptocurrencies seek in every way to impose themselves in the common use of people and what better way to spread its use if not social networks?
February 2018, Jeffrey Huang aka Machi Big Brother, after developing a widely used streaming application in a fair part of Asia Pacific, imagines a close connection between socialnetwork and cryptocurrencies and in his mind Mithril is born, an ERC20 token supported in blockchain technology of Ethereum.
The project included a pre-sale of 400,000,000 tokens at a price of 0.001ETH per unit, started in early February and a later ICO. The collection speed of almost 30,000ETH meant that the pre-salt was closed in a very fast way and the ICO canceled and obviously the project launched.
Mithril as conceived by the young Taiwanese-American expert in technology and social media, provides for the adoption of the token in all social networks, as a reward system for the content given by each person through what is published, but because he is a person prepared in the sector, before getting MITH adopted by all social networks, builds a social network that is MITH employee. The LIT platform available to access via browser but also in mobile download for both Android and iOS is the method with which you can “mine” MITH. The token is not in fact mineable, because already created in a total number of 1,000,000,000 pieces, but 35%, ie 350,000,000 are destined for social mining. Pratically every person, on base on a series of parameters is rewarded with part of these tokens, all easily calculable because the formula is explained impeccably on the Whitepaper.
Currently the platform is very good in the Android version, a little ‘less in that iOS and just readable in browser mode. A good mix between Instagram WhatsApp and Telegram, with attractive graphics, simple and easy to use. The number of accounts in the platform is not known, but the number of users who follow this crypt in Telegram is 15,000. Not bad considering that the system has only been started for a few months.
From the point of view of the diffusion in the exchanges, from their whitepaper in the distribution of tokens, an important share, 30%, was intended to bear the costs for adoption in the exchange, are not to be underestimated, currently it is possible to buy MITH in 9 exchange and against different crypts, and also against the South Korean Fiat currency.
There are many other crypts that have as their aim the adoption of social networks, but the idea of starting with a social network that revolves around the project the system is not really bad, a good start definitely.
© Copyright Simone Altcoin News