Advertise
CoinTrust
BTC
ETH
BCH
SOL
DOGE
SHIB
  • News
  • Bitcoin
  • Ethereum
  • Altcoin
  • Market Cap
  • Learn
    • Buying Crypto
    • Crypto Mining
    • Crypto Exchanges
    • Knowledge
  • Crypto Casinos
    • Bitcoin Casinos
    • New Crypto Casinos
    • No KYC Crypto Casinos
    • Anonymous Crypto Casinos
    • VPN Friendly Crypto Casinos
    • Bitcoin Poker
    • Crypto Poker
    • Bitcoin Bingo
    • USDT Casinos
    • Offshore Online Casinos
    • Bitcoin Betting Sites
    • Crypto Sports Betting
    • Reddit’s Best Bitcoin and Crypto Casinos
No Result
View All Result
CoinTrust
  • News
  • Bitcoin
  • Ethereum
  • Altcoin
  • Market Cap
  • Learn
    • Buying Crypto
    • Crypto Mining
    • Crypto Exchanges
    • Knowledge
  • Crypto Casinos
    • Bitcoin Casinos
    • New Crypto Casinos
    • No KYC Crypto Casinos
    • Anonymous Crypto Casinos
    • VPN Friendly Crypto Casinos
    • Bitcoin Poker
    • Crypto Poker
    • Bitcoin Bingo
    • USDT Casinos
    • Offshore Online Casinos
    • Bitcoin Betting Sites
    • Crypto Sports Betting
    • Reddit’s Best Bitcoin and Crypto Casinos
No Result
View All Result
CoinTrust
No Result
View All Result

Home » Minds To Become Largest DApp On Ethereum Network

Minds To Become Largest DApp On Ethereum Network

Kelly Cromley by Kelly Cromley
Aug 2, 2018
in Ethereum News, News
Reading Time: 3 mins read
0

Minds, a relatively unknown crypto social network, is migrating its tokens onto the Ethereum mainnet. This will result in the creation of the largest Ethereum dApp on the network.

The cryptocurrency network is planning to migrate its $MINDS tokens sometime in August. Minds team believes that the high transaction volume of the Ethereum network will revitalize its platform.

In April, Minds launched its decentralized open source network. Just like other social media platforms, users will be able to post content, give ‘likes’ and share (‘remind’) message posted on the platform. It also offers in-built video and group-calling facilities. Even encrypted messaging facility is provided.

As blockchain offers exceptional transparency and autonomy to users, in addition to total control over personal data, Minds team prefers to deploy the social media platform on a blockchain network. Minds also pointed out that it does not tinker the content posted on the platform in any manner. Posts which incite hatred or bully another user are only removed permanently.

Minds’ co-founder and CEO, Bill Ottman, said

“Users are fed up with being exploited. It’s time to provide people with real transparency, privacy and decentralizatio. Our community has demanded crypto since we launched the points system back in 2015. The core principles of blockchain technology are perfectly aligned with what Minds is trying to achieve.”

$MINDS tokens, previously referred to as ‘boost points’, are used to encourage activity in the platform. The share of reward from the Daily Reward Pool depends on the level of contribution to the network. Using the $MINDS tokens, a user will be able to acquire a higher profile that will attract more visitors to the posted content or view exclusive content.

Back in October 2017, Bill Ottman gave the following reason for creating Minds platform:

“We started Minds because we believe the top social network needs to be powered by the people, for the people. It needs to be free, open-source, encrypted, decentralized and monetized. The human exploitation happening on status-quo apps is out of control and it’s only a matter of time before ethical, transparent alternatives become functionally competitive and accessible for the masses.”

Largest Ethereum DApp

Scalability is one of the major issues faced by the Ethereum network. Games like CryptoKitties have often caused congestion of the network. Presently, the largest DApp deployed on the network is Dappradar, which enables monitoring other DApps.

Minds uses a hybrid on-off chain system to avoid clogging of the network. Majority of the transaction volume takes place off-chain. The framework allows the DApp to scale without causing congestion. So, there will be no issues with high transaction volumes. Furthermore, the architecture provides a better user experience.

Minds has most of its users in America, Europe and South-East Asia. Following a new law that enables the Vietnamese government to censor content and have unrestricted access to social media accounts of its residents, the popularity of the Minds platform has increased considerably.

Facebook and Google agreed to comply with the legislation passed by Vietnam, in order to continue their operations in the country.

Ottman told Breitbart Tech that “In most cases, people who are censored only become further polarized and simply move to a new place that allows their thoughts and ideas to be shared.” With more than a million users, the migration could make Minds the single largest dApp deployed on Ethereum.network

Previous Post

Credit Suisse’s ‘Bitcoin Expert’ Gets Poached By Morgan Stanley

Next Post

Coinbase Rolls Out Support For Pound Deposits With Faster Payments

Related Posts

sft-luffa-partner-for-secure-web3-messaging

SFT and Luffa Unite to Secure Web3 Messaging

by Kelly Cromley
Jun 13, 2025
0

SFT Protocol, a notable player in the decentralized finance landscape known for enabling liquidity in staked assets, has announced a...

quackai-soonchain-decentralized-gaming-partnership

Quack AI and SoonChain Join Forces to Revolutionize Decision-Making in Decentralized Gaming

by Kelly Cromley
Jun 13, 2025
0

Quack AI, an established platform specializing in artificial intelligence-driven governance solutions, has announced a strategic partnership with SoonChain, a progressive...

Ethereum’s Polygon Inks Two Deals to Bring DeFi, Decentralized Insurance & NFT to Enterprises

Polygon Bridges POL Token to Solana with Wormhole Integration

by Kelly Cromley
Jun 13, 2025
0

Polygon, a leading Layer 2 scaling solution for Ethereum, has announced plans to extend the functionality of its native POL...

Cardano Launches Smart Contracts Testnet “KEVM”

Cardano Strengthens Blockchain with Anti-Grinding Upgrade

by Kelly Cromley
Jun 13, 2025
0

Cardano, one of the foremost public decentralized blockchain protocols, has unveiled a new anti-grinding mechanism aimed at improving network security...

nillion unveils alpha mainnet to advance privacy-centric computing

Nillion Launches Enterprise Cluster with Global Tech Giants

by Kelly Cromley
Jun 13, 2025
0

In a significant move toward expanding decentralized infrastructure beyond traditional crypto use cases, Nillion has officially introduced its Enterprise Cluster....

taxbit-gbbc-for-global-blockchain-compliance

Taxbit and GBBC Join Forces for Global Blockchain Compliance

by Kelly Cromley
Jun 13, 2025
0

Taxbit, a platform known for delivering enterprise-grade tax and accounting compliance solutions tailored for digital assets, has officially announced a...

Next Post
Coinbase Rolls Out Support For Pound Deposits With Faster Payments

Coinbase Rolls Out Support For Pound Deposits With Faster Payments

  • blackrock invests in colle web3

    COLLE: Pioneering AI Web3 Platform Receives Investment Boost from BlackRock

    by Kelly Cromley
    May 13, 2024
  • Router Protocol and OpenWorldSwap Partnership to Revolutionize DEX Market

    by Kelly Cromley
    Aug 6, 2024
  • Central Bank of Saudi Arabia Teams Up with Ripple to Transform Cross-Border Settlements

    by Kelly Cromley
    Aug 17, 2023
  • GameStop’s Digital Transformation: Embracing Blockchain and NFTs

    by Kelly Cromley
    Feb 2, 2025
  • Blockchain Based Sports Platform SportsMint Unveiled

    by Kelly Cromley
    Apr 30, 2024

Recent News

sft-luffa-partner-for-secure-web3-messaging
Market News

SFT and Luffa Unite to Secure Web3 Messaging

by Kelly Cromley
Jun 13, 2025
quackai-soonchain-decentralized-gaming-partnership
Market News

Quack AI and SoonChain Join Forces to Revolutionize Decision-Making in Decentralized Gaming

by Kelly Cromley
Jun 13, 2025
Ethereum’s Polygon Inks Two Deals to Bring DeFi, Decentralized Insurance & NFT to Enterprises
Market News

Polygon Bridges POL Token to Solana with Wormhole Integration

by Kelly Cromley
Jun 13, 2025
Cardano Launches Smart Contracts Testnet “KEVM”
Cardano News

Cardano Strengthens Blockchain with Anti-Grinding Upgrade

by Kelly Cromley
Jun 13, 2025
nillion unveils alpha mainnet to advance privacy-centric computing
Market News

Nillion Launches Enterprise Cluster with Global Tech Giants

by Kelly Cromley
Jun 13, 2025

Categories

  • Altcoin News
  • Analysis News
  • Binance Coin News
  • Bitcoin News
  • Blockchain
  • Blog
  • Cardano News
  • Ethereum News
  • ICO News
  • Legislation News
  • Market Forecasts
  • Market News
  • News
  • Ripple
  • Ripple News
  • Solana News
  • Tether News
  • XRP

Cointrust

  • About Us
  • Contact Us
  • Correction Request
  • Our Team

Legal

  • Disclaimer
  • Terms & Conditions
  • Privacy Policy
  • Cookie Policy

Popular

  • ICO Listings
  • Knowledge Base
  • All about Mining
  • Cryptocurrency Exchanges
  • How and Where to buy Cryptocurrency

Sitemap

  • News section
  • Sitemap
  • XML Sitemap

© 2024 CoinTrust.com.

CoinTrustCoinTrust

* DISCLAIMER: All information provided in CoinTrust is merely for informational purposes, we are not an investment advisor and not affiliated with any companies or ICO/Cryptocurrency Projects. To use this website you must accept our cookie policy, Disclaimer and Privacy Policies.

No Result
View All Result
  • News
  • Bitcoin
  • Ethereum
  • Altcoin
  • Market Cap
  • Learn
    • Buying Crypto
    • Crypto Mining
    • Crypto Exchanges
    • Knowledge
  • Crypto Casinos
    • Bitcoin Casinos
    • New Crypto Casinos
    • No KYC Crypto Casinos
    • Anonymous Crypto Casinos
    • VPN Friendly Crypto Casinos
    • Bitcoin Poker
    • Crypto Poker
    • Bitcoin Bingo
    • USDT Casinos
    • Offshore Online Casinos
    • Bitcoin Betting Sites
    • Crypto Sports Betting
    • Reddit’s Best Bitcoin and Crypto Casinos

© 2024 CoinTrust.com.

We use cookies to ensure that we give you the best experience on our website.
If you continue to use this site you agree to allow us to use cookies, in accordance with our Cookie Policy.
I Agree