Nowadays, cryptocurrencies are no longer taboo or something extremely new. Cryptocurrencies no longer represent an experiment that’s meant only for a small minority of people who know what they’re doing. Crypto trading and investing have become a norm and more and more ordinary people are now acquainted with digital coins and what they can be used for.
With this increasing popularity come a plethora of new types of digital coins. In today’s article, we will be talking about Mithril crypto. You may or may not have heard about it. Regardless, in the following lines, we will be discussing how it was created, what it is, and everything you should know about the MITH token. Here we go!
What is Mithril crypto?
Mithril crypto is a fairly new type of digital currency that represents a blockchain-based decentralized social media type. The catch here is that it reportedly pays people for creating content. Considering how important user privacy is right now, user payments should become the new norm. This is precisely what the team behind Mithril crypto is intending to do.
What Mithril crypto also wants to do is to base social media on blockchain technology. It is not the only startup that wants to do this. Its competitors, among which are Sola, Sapien, or Waves, are aiming at the same target. In the beginning, Mithril functioned with the Ethereum network and intended to create an app ecosystem that would reward content creators with MITH tokens. However, back in 2019, Mithril moved to Binance Chain’s BEP2 standard. That was also the month when the Mithril mainnet officially launched.
Its founder is Jeffrey Huang and he thinks that all content creators should gain something from platforms. So, instead of using social media only for marketing purposes, it can become a source of profit for these people. There is also social mining and the Patreon platform that does a similar thing. However, this concept could go much further in the future.
Since its release back in 2018, Mithril has grown a lot and it is now one of the most popular cryptocurrencies. We can definitely say that the future looks extremely bright for it.
About the MITH token
MITH is the token used within the Mithril ecosystem and it has a total circulating supply of 1 billion. Its peak price was reached back on May 11th, 2018 and it was $1.47. At the time of writing, MITH has a price of $0.04139. Its market cap is $41,399,668.
People can mine MITH tokens by taking part in partner applications. Also, creating and sharing various content earns people MITH tokens which they can spend in partner applications. The platform’s digital wallet is called a Mithril Vault. It is able to store and synchronize MITH tokens across all platforms. With it, you can also exchange MITH tokens with ETH and other cryptocurrencies. Fiat and BTC are expected to be introduced soon too. Daily, over $50 million worth of MITH tokens is traded.
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