Once the talk about blockchain technology had gone viral, all the inquiring techie minds decided to put it to use. From medicine to gambling we’ve seen all kinds of crypto projects emerging in rapid-fire succession. One of the mainstream ideas that gained traction was the idea of decentralized social networks, and of course, we’ve already expanded on this topic.

Mithril: Decentralized Social Media

Facebook is yesterday’s news: it collects your data and sells it to advertisers. In the meantime, conceptually new decentralized social networks claim to treat you much better. The idea behind this new type of social media platform is to allow you to not only share content, but also monetize it at the same time. Ideally, if your contribution is valuable enough, you’re going to get decent pay.

Mithril is a decentralized social media platform that offers rewards in exchange for content. Mithril presents a new concept: social mining, which is basically a form of MITH mining that enables users to acquire MITH by producing and uploading content. Moreover, they will be able to get MITH coin just through interacting with other users on platforms that support social mining.

PiePie and Yeemos are the first platforms that already support social mining, but there will be more. Mithril is encouraging social media projects to join their social mining movement.

The company plans to build an advantageous ecosystem for its users to effortlessly mine MITH, securely store it, and spend it on goods and services both on the web and offline.

What is MITH coin?

Mithril coin is an ERC20 token called MITH that you can use in various real-life scenarios. You can buy MITH coin on many major crypto exchanges such as Binance, OKEX, and others. As you know, it’s not ideal to store your crypto on exchanges, so if you care about the safety of your digital assets, it’s better to transfer them to a secure wallet.

Lumi Wallet is a client-side HD wallet that supports BTC, ETH, EOS, and ERC20 tokens, including MITH.

How to make a Mithril wallet in Lumi?

It’s easier than you think!

Download Lumi Wallet if you haven’t done so yet

Go to the ‘Wallet’ section, and tap on the ‘Manage Wallets’ button

Start typing in the name of the wallet and choose Mithril from the list

Press ok and check out your new MITH wallet!

If you’ve got some ETH (or any other coin), you don’t even need to use any exchanges, buy Mithril coin right inside our app.

Click on the ‘Exchange’ sign

Choose the amount of ETH/BTC/ERC20 you’re willing to spend or the amount of Mith you want to buy and press ‘Confirm’

Check the details once again and finalize the transaction

Exchanging coins and tokens has never been easier!

Lumi Wallet also allows you to trace your complete transaction history, check price graphs, and we’re constantly adding new functions. So make sure to follow us on social media to be always well-informed.

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