Review on Mithril by Robiul Islam
Social media platform that rewards all content creators.
Social networking is obviously a huge industry. Effective user interaction and activity will enable non-crypto users to easily participate. Mithril ideas that make up the valuable content should be able to monetize their content. It does not have the opportunity to use traditional financial models for video blogs, audio / podcasting, live-streams or more, on the Internet. You can think of Mithril as Instagram on the blockchain.
Social Mining: Social mining is a key concept. It is based on the thought that users who produce valuable, user generated content earn MITH via social mining. Mining rewards are straight away related to a user’s impression and success on the network. All transactions involved to social mining will be secured and verified via Ethereum smart contracts.
The ‘Social Mining’ mechanism is just another way of token distribution between the community. Nothing new here either. The algorithm is not transparent, and can be changed by the decision of the founding team at any time.
Mithril Vault: In order to contribute valuable content to the network, the MITH user can save it, or it can occupy it on a vicious vault. The more you take part, the more your stacking level will affect your rate of social mining. Your stacking amount will be for 30 days, then they will expire and you will be left in your available balance.
Lit: It is the social network to spectacle the platform, designed to initially develop the system of rewards and benefits for users and merchant partners . Lit is a key feature of his story, which is time sensitive private or public share feature like Snapchat's stories. A post is shared, which can include text, pictures, videos or slideshows, it will be automatically deleted after 24 hours.
It has allocated a very good amount of money for trading, people who are holding and trading the Mithril will get bonus coins after the slot has been completed. Mithril is thrilled to announce an “ERC20 to BEP2 Token Swap” is scheduled after the “MITH Trading Airdrop” on June 11. I'm not sure how fast is Binance chain but I guess It's faster than Ethereum, It's a good move IMO. More tokens will follow same thing if Ethereum doesn't upgrades fast.
The platform and its social network Lit are still in most basic development, they are ready to be leaders in decentralized social networking space. Centralized social networking companies soon provide competing competitions that provide users more control over their data and reward people for providing content for the overall living of all social networks.
I think it is worth watching the development of the project in the next 1-2 months. I think it will be very interesting!
Pros
- Wonderful looking website. Super clean and easy to find information. Whitepaper is equally as great. Solid partners Including QTUM and The Sora Foundation . Rewarding social interactivity with blockchain technology allows for immutable and fair reward structures. Low MITH token supply considering application.
- Users can earn tokens by producing and publishing user created content, or by participating in their social media ecosystem by interacting with content. Users can use token to pay for items in the Merchant Network and other products services related to dating apps, paid content and other applications, can also be exchanged for ETH / BTC.
- The Mithril API is quite small compared to other structures. It forces the developers to solve JavaScript problems instead of Mitril. Other structures with massive APIs make you think in terms of framework. Mithril does not do it.
- Most MVC frameworks use HTML templates to render their feedback. They are good and useful because they are easy to read and understand. But they add more complexity to an application because it's essentially a new language and syntax which must be learned. Mithri argues that separation of markup from the logic is not just the severity of the technology and the concern, so you can write the opinion of the deceased in javascript. Their writings in JavaScript make it easy to debug them (HTML templates can not be debugged).
- It's loading times are very fast. This is because it's templates are compiled first and then served to the browser and because it uses a virtual DOM. The virtual DOM is a virtual tree containing all the nodes of the real DOM, every time anything changes in the virtual DOM, it does not re-render the entire (real) DOM, instead it just searches and applies the differences.
Cons
- Enormous of competitors in this space. Reddcoin, Kin, Gifto to name a few. A little bit different models but worth considering.
- Website while well designed and easy to research, doesn’t go into a lot of depth. Easy research for consumers, not so easy for long term investors.
