A cryptocurrency is a digital asset designed to work as a medium of exchange that uses strong cryptography to secure financial transactions. It is established upon blockchain technology and decentralized consensus mechanism. It has inherited blockchain features such as public and tamper-proof. Common cryptocurrencies include: Bitcoin, Ethereum and MITH. Of which Ethereum and MITH are categorized as utility coins.
Mithril is a decentralized social network ecosystem. It emphasizes on the demand of users, as it integrates all sorts of social network to date and rewards content creators with blockchain technology. The Mithril token is a decentralized token based on the ERC-20 standard established by Ethereum. Mithril mining is an all-new mining approach created by Mithril. With Mithril as a reward token, partners within the Mithril ecosystem can brainstorm about all sorts of scenarios related to social, life or entertainment. Take ‘social mining‘ from Mithril mining as an example, people would be able to receive corresponding MITH tokens depending on the value of their posts and interactions.
What are the benefits of cryptocurrency?
Centralized financial facilities are no longer required for processing transactions. This drastically decreases the cost and error rate caused by transaction, reward processing time and manual management. In addition, blockchain technology guarentees the transparancy and fairness of a transaction.
What is Global Mithril Forge Fund 1?
Global Mithril Forge Fund 1 is an inter-sector strategic partnership that puts social mining into practice. The Fund's mandate is 'Mithril In, Mithril Out'; Mithril tokens will be the currency of investment, and returns will also be received in Mithril tokens. Sectors in focus include social media and entertainment. The Fund will strive to expand the Mithril ecosystem, with social mining as its focal point while building out the general ecosystem.