What is Mithril?
Reviewing Mithril infrastructure shows that the network is actively working towards becoming a host of blockchain based social media apps like Steemit and others. They are actively trying to integrate major social media apps to run on their platform since their network is designed to host these high demand apps. To fast track that, they have a working protocol that would enable easy social media network integration with Mithril network.
Mithril give incentives for creators who deliver quality content. On the other hand, users earn tokens through a process called social mining whenever they interact with each other.
Already, Mithril has been developed as a utility token for Lit. Lit is a social media platform for the current young generation which will address their desires as young crypto adopters and their budding needs on social media. Lit will allow social mining of MITH tokens as an incentive to the users for their contribution of content to the platform. MITH tokens can be spent across the MITH application ecosystem like dating services.
The Mithril token MITH is an ERC20 token and Lit users can exchange it for BTC or ETH. MITH is mineable with a total supply of 1 billion 337 million currently in circulation.