From 30,000 feet the Steemit.com ocean is starting look like a pond in the Land of Lakes.
Have you heard of Mithril yet?
Well, not many have.
Mithril is in its ICO stages and has a lot of cutting edge inner apps already to roll out according to is whitepaper. It includes pre-built a lot of the apps that outside developers on STEEMit have worked on for months. @dlive @dsound and much more.
Mithril plans to bring it all to you in one big ready to roll out package. Mithril incorporates instant messaging, a dating app, streaming media interface, Mithril is even bringing in its own Merchant Network that aims to allow retail acceptance of MITH as a payment method. Right now $MITH is geared for retailers in Taiwan and Hong Kong. But seeing how everything sold in America is Made in China, well I am not going to go there in this post. Perhaps later on.
The Mithril Whitepaper states it is designed for a younger generation of social media users. A younger generation that seeks a social media platform that addresses both their needs as early cryptocurrency adopters as well as their evolving needs in digital social interaction, dating, streaming, online shopping etc.
For @Ned and Steem inc. they need to be looking over their shoulder's as Mithril has taken a shot at silencing Steem Inc.'s new born baby thunder. The SMT.
MITH will launch as a utility token on Lit
Mithril offers Smart Tokens designed specifically to engage and integrate existing social networks. That's right. Mythril is including it's own version of the STEEM Inc Smart Media Token.
However unlike Steemit.com Mithril will allow you to engage in it's, multi-app platform with not only it's version of $STEEM and $SBD, $MITH, Mithril will allow users to award content providers with Bitcoin or Ethereum as well is it's $MITH token. $MITH is based on the ERC20 Ethereum Token.
The LIT network, Mithril's undrlying base is built on the Ethereum network and will work as the cornerstone foundation for more upcoming social media applications and outlets.
Lit plans offereing it users with a feature-rich and well designed blogging platform. It will directly integrate into the Mithril ecosystem. Mythril Users can share their post via LIT blog entries and like on STEEMit.com they can be rewarded with Mithril tokens, $MITH, based on their stories perceived worth to others participating in the network of LIT apps.
This is the genesis of the Mithril ecosystem. With the large influx of quality users and viewers, we believe that the Mithril ecosystem will quickly generate significant amounts of revenue for Mithril partners and their content producers, thus making the Mithril network more sticky for both content creators as well as Mithril partners. This creates a virtuous cycle that enables sustainable growth.
A Warning Shot across The Bow
What STEEMit.com Whales need to grasp, and sooner than later is they will be left holding a loaded purse of worthless $STEEM if the minnows and dolphins that are now ignored, abused and kicked around by them can school into the Mithril ecosystem in it's very beginning and can thus quickly become the whales of $MITH. All while leaving STEEMit in the rear-view mirror.
Mithril plans to offer 35% of its tokens to the app reward pool for social mining. That is roughly 350 Million tokes ready for mining via upvotes, posting and curation rewards. It is essentially using the same method now as STEEMit.com but the $MITH vault, it's version of the $STEEM Wallet will be integrated into all the other supported social media platforms from the Mithril partner apps. This might be viewed by STEEMians as the same integration we have with @dtube, @dsound, @dmaina and @dlive and other apps like @utopian that now share access with the STEEM wallet. But $MITH will operate on the Ethereum network. A network that already has been adopted by more crypto users than have even heard of $STEEM.
Looking at the graph of distribution above the early adopters of Mithril will in fact be the whales of the new social media ecosystem. Making Mithril a very attractive outlet for those that feel they are being overlooked and abjectly neglected for the preferred monetary incest that exists among the whales of STEEMit.
Each transaction on Mithril will be verified and secured via Ethereum smart contract, all transactions, post, upvotes, comments and replies can be tracked and verified on the Ethereum blockchain.
How Early Adopters become Whales of $MITH
Mithril has sights set on becoming the best and most optimized blockchain for social network applications. It even has plans to co-opt platforms outside of Ethereum like EOS and Zilliqa while planning further ERC20 evolution with it's integration into Plasma and the Raiden Network.
Mithril Merchant Network includes Bricks and Mortar
The Mithril ecosystem already has developed a partner in the Brick and Mortar world with Taiwan's largest celebrity vintage and used clothing retailer. Inst.Recycle.
Stories
Stories is going to be a cross between @zappl. and SnapChat where afer 24 hours your Stories post will be removed. These are post that are very brief that will share your small moments in time, photes and such you may want to simply post to share in either a public forum or in PRIVATE. The Mithril Stories integration is designed to mimic what Instagram did with its Stories feature.
LIT Mithril Streaming
The streaming feature will be similar to vine in its adaptation f 10 second streams. It also will be similar as a camera-phone app that operates like the current app on STEEMit called @steepshot. These LIT network apps will directly integrate with Mithril apps like chat and instant messaging. Keep in mind that LIT is the launchpad for Mithril and all of it's partner apps and networks. LIT is the linchpin of it all.
Yes, a LIT chatroom
In the LIT chatroom users can have both private chat and group chat as well. This is as stated above where you can share your Stories post that are similar to snap-chat in that they can be both temporary and either private or public.
LIT and Mithril also offer many of the existing STEEMit features like the whats new section they call Discoveries and a full featured Profile section.
If you want to learn more and be one of the many early adopters of Mithril and the LIT network of apps check out their ICO website and Whitepaper. Lots of really great stuff is planned and the $MITH early adopters will be the whales on this ERC20 network.
Looking Ahead
Mithril is founded by the team behind 17 Media, with advisors from Pantera Capital, Sora Ventures, QTUM Foundation, AMIS, and Blockstate.
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