Facebook is the giant among the Social Media networks worldwide, and the unangefo killed number One. The crypto-Startup Minds has created a Blockchain-based Social Media platform, to make the place the deer in the long term competition.
The decentralized Social Media platform Minds could lie down in 2015, a rocket launch, and grew up right on a Million registered customers and recorded 73 million page views in a year.
Today, in 2018, the Startup is about to implement the Ethereum Blockchain in their core functions. This step is the further development of the previous project to a fully functional, suitable dApp on Ethereum-based for both mobile and Web devices.
The introduction of a reward system, as this is already used in Steem, as the next mile stone in the white paper. The Minds-Token to replace the current points system and all of the content through a Peer-driven incentive-based reward system to monetize the.
The users of the platform can Minds-the Token to use article writer, in summary, Content said creators to subscribe to, or support, and thus their activities are rewarding. The users of the platform can receive a share of the daily traded volume of the Minimum-Tokens on the basis of the popularity of their contributions as a reward.
The Token model is provisionally to run on the Ethereum-Testnet. For the time being, all functions must be tested extensively to its functionality and error-free aware.
Within the platform there will also be a Wallet, with the users of their token holdings can manage. It should also send its encrypted messages and operate in a completely anonymous user accounts.
Furthermore, it is switch possible to View, for which there are (almost) no restrictions (crypto-advertising is allowed). As the CEO, Bill Ottmann, wanted to promote its platform on Google and this was to banish, but rejected on the basis of the decision, crypto-advertising, was it for him, an even stronger need to support this advertising. Ottmann points out, that he wants to give the user full control over his activities on the platform (freely translated):
Our goal is users the freedom of choice to return. If you make a Social Media Post, this is to be on the Blockchain, or on the Minds of the servers stored? You want to do it on your own Server you items so that it can delete? On the basis of the Intention of your Posts, many different ways are available to you.
Minds.org to be a hybrid platform, which will use both the On-Chain Off-Chain model. The user should numbers continue to rise, it could lead, however, at the present time, to Overload, since the scalability of Ethereum-a Blockchain is not yet sufficiently developed.
However, Ottmann is optimistic and describes that his company will step-by-step, to solve all the problems. He is also sure that the people in the long term, move from all alone, when you see that there is a decentralized platform that gives users full control over their data (freely translated):
In the near future, it’s just about to overtake the (Mainstream platforms) in terms of functionality. If people have a choice between something that is Transparent, the protection of Privacy and a reward, then this is a self-runner.
Nevertheless, the Minds put shoes platform. There is a need for far-reaching support around the world, so that such projects are known. As we already reported, there are now a number of Alternatives to the Tech giants such as Facebook and Google.
In our opinion, this development is commendable and we are excited to see what other exciting projects we will see in the future in this area.
Here you can join the Community and testing the network: minds.com.
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