Mithril is a decentralized social media platform on Ethereum, which rewards all content creators who post their photo/video stories- this is what we call Social Mining.
When users post content on Lit, the Mithril algorithm calculates the amount of Mithril tokens that users mine, and updates their balance on the iOS/Android apps. Product/application is already available on iOS and Android stores. Another product is Vault. The functions includes "Staking", "withdraw", and "shift". This will be a useful tool for us to complete Mithril Ecosystem platforms, where users can use MITH token to pay for for dating apps, premium content, and live-streaming, or across Mithril Merchant Network to purchase retail, physical products in Hong Kong and Taiwan. In order to disintermediate Facebook/Instagram/Twitter, etc., decentralization is the most viable path, as combating these existing platforms on revenue share is impossible. By applying blockchain technology and launching Mithril, social media applications and others that host content creators can all leverage Mithril to compete against these existing players, together.
