Blockchain-based social network Minds moves to ethereum

Blockchain-based social network Minds has announced that it has migrating its platform to the ethereum network.

After almost four months on its Rinkeby test network, the startup will be moving to ethereum for its full live launch. The company claims to provide a censorship-resistant, accessible social network for users, especially those in potentially authoritarian nations.

The platform also claims roughly 1.25 million registered users, about 75% of whom have already earned test tokens. These users will be eligible to receive the platform’s live token via a free “airdrop” distribution as a result.

The CEO Bill Ottman said that the team had engineered a “hybrid on-chain, off-chain model” to ensure that the system can handle the volume Minds is seeing and to provide a simple user experience for crypto newcomers. The on-chain and off-chain model will also help the platform handle large user volumes without congesting the ethereum network, according to the company.

Users can pay tokens to ensure a greater number of people see their posts, or earn tokens by interacting with content. Users can also use it to pay creators directly and subscribe to premium content.


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