Blockchain-based social network Minds is migrating its platform to the ethereum network, the announcement announced on Monday.
After about four and a half months on his Rinkeby test network, the start will move on to ethereum for his full live launch. The company claims to provide a censorship-resistant social network accessible to users, especially those in potentially authoritarian nations, according to a press release.
The platform already sees around 500,000 page views a day, CEO Bill Ottman told CoinDesk. The platform also supports about 1.25 million registered users, about 75% of whom have already obtained test tokens. These users will be eligible to receive the platform's live token through a free "airdrop" distribution as a result.
"We anticipate a general increase in transactions, both on-chain and off-chain, due to the activation of token withdrawals, purchases and premiums," he said.
Ottman went on to say that the team had designed an "on-chain / off-chain hybrid model" to ensure that the system was able to handle the volume that Minds is seeing and provide a simple user experience. for encrypted newcomers.
The on-chain and off-chain model will also help the platform handle large volumes of users without congesting the ethereum network, according to the press release.
Users can pay tokens to ensure that more people see their posts or earn tokens by interacting with the content. Users can also use it to pay creators directly and subscribe to premium content.
Ottman said the use case was popular on the testnet, predicting that the decentralized platform will become one of the most popular apps on ethereum as a result of the launch.
The CEO anticipated some problems in advance, stating that "the only break will be a 24-hour break in transfers [peer-to-peer] between users via our Wire and Boost capabilities … this is necessary only to ensure the flight to our beta users accurately reflect their previous earnings balance so far. "
Elizabeth McCauley, blockchain developer and adviser to Minds, said in the press release:
" When governments repress freedom of speech and collaborate with social media, centralized surveillance companies, [Minds] provides a shelter for people seeking a path to global interaction and the exchange of ideas. "
Ether on an image of keyboard through CoinDesk