1 Level
17 Review
19 Karma
Review on Mithril by Celil Ozturk
While it is generally expected that professional content owners such as singers…
While it is generally expected that professional content owners such as singers,
songwriters, and other digital rights holders are able to monetize their content,
content creators outside of this traditional model do not benefit from the economic
value they generate in social networks. Increasingly, valuable content is generated
from all walks of life, through video blogs, audio/podcasting, live-streams, and the
like. We believe that everyone who adds value to the network should benefit from
their work.
35% of the total Mithril pool will be available for users to mine via Social Mining. For
the next several years, a total of 350 Million Mithril will be distributed to users of the
Mithril network through Social Mining. The Mithril quantity that is available for
discovery will be halved annually over the course of a predetermined number of
years. At the end of this mining period, all 350 Million Mithril will have been mined
and distributed. Social Mining will have distribution controls that will act similarly to
Bitcoin’s dynamic difficulty retargeting adjustments.
The Mithril Vault will be an easy-to-use transaction system for each user and partner
platform to manage, secure, and spend their Mithril. We seek to lower the barrier of
entry for users of all platforms and allow for cross-platform integration of the Vault.
The Mithril Vault will feature reward estimation tools that can estimate a user's Mithril
reward based on their recent contributions. The reward estimation tools will show
users a rough estimate of their potential Social Mining Rewards.
The ultimate goal of the Mithril team is to become the best and most optimized
blockchain for social network applications. The first step to achieving this goal is to
integrate MITH into all major social networks. Mithril features are intended to be
leveraged across any major social media to give all users direct impact over their
social content ownership, thus awarding them for their work on any relevant social
network. Furthermore, we are exploring MITH acceptance on partner apps and
services, where MITH may be accepted as a form of social currency to pay for
premium features and services on these platforms.
Pros
- A social media platform like Steem where people earn Mith tokens by posting on the social media network. Built on Ethereum blockchain for now but plan on moving to a more scalable platform like EOS or even build their own blockchain in the future. Mithril are aiming to get integrated into existing social media networks eg Facebook, Snapchat, Twitter. They are targeting businesses as well as everyday people.
Cons
- All content a user creates, plus their social interactions within the Mithril ecosystem, automatically mine MITH, the Mithril token, based off the platform’s algorithm.
