Social MIning is the newest invention in the Crypto space. To my best of knowledge, Steemit happens to be the first of its kind to financially and intellectually reward users for socializing.
I have been on Steemit since 2017 and have explored all its features.
Few weeks ago, I came in constact with Mithril ecosystem and the Lit App. I've been on the lit app with the username onyemacourage for weeks now and I've used all its features, shifting (where you convert your MITH to ETH in seconds) , staking (similar to powering up on Steemit), withdrawals, deposit, etc.
Here is a few differences between steemit and Lit
Steemit posts get cashed out in 7days....Lit Posts get cashed in 24hours
Steemit allows photos and articles..... Lit app takes just photos
Steemit pays in Steem and Steem dollars.... Lit pays in MITH
Steemit is the social media and the wallet where transactions can be made..... Lit app doesn't support transactions, transactions are made using the Mithril vault.
Steemit takes 3-7 days to verify new accounts..... Lit app takes 2minutes
Steemit is a website..... Lit is a Mobile App on Android and Apple Stores
Some similarities between Steemit and Lit
- They are both social mining platforms
- They both reward users for socializing
- They pay in crpytocurrency
You could follow me on both platforms with the username onyemacourage
DISCLAIMER
This post isn't bent to criticize or support any of these inventions. All users are responsible for their comments
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The Mithril Token is based on Ethereum. The problem with Ethereum's design concept is that it is totally broken in terms of scaling.
OK, so is that an advantage for Lit or a disadvantage?
It's a disadvantage for lit as network issues with the Ethereum blockchain can have adverse effect on lits ecosystem
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No payment for upvote ( heart ♥) or withdrawal of mith from vault mithril got that covered
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Moreover, what about the gas you need to pay for every action you take on Ethereum? Do you pay for upvoting in this Lit network?
Its free.... you can vote/like how much you want.... no power effected
Dont worry, Mithril will have their own blockchain on 2019... read their roadmap on whitepaper. Most Social media player use Lit than steemit, because steemit user control their vote to reward content Creator, especially the whales from steemit only vote their friends only
Will take a look at it, thanks for the tip:)
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Follow me on lit - nahin007
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I like it... and everything who pays it's user... thank for sharing. Honestly, I never know or heard about lit app before. Now I installed it and hoping to start earning too.
Welcome on board hoping to see your content
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Username - nahin007
At the same time steemit is just a website. There are many other clients to interface the steem blockchain such as steempeak, busy and others.
What's important to distinguish here is the technology behind them. As @bitsignal mentioned, Lit is based on Ethereum, which at the time is having scaling issues. When Ethereum implements casper and it scales properly then we will see more interesting dapps on it.
Otherwise steem is the way to go! Waiting for an upgraded version on eosio :)
But steemit user very cheap to give a vote.... Lit is different, all user easily give a vote
I use Mythirl for over 3 months and is an easy app for getting some crypto every day.
Good.
will surely join the lit..
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You have recieved a free upvote from minnowpond, Send 0.1 -> 10 SBD with your post url as the memo to recieve an upvote from up to 100 accounts!
I think for the photo lovers this would be the app for them. But I am sticking with steemit for now. This is a platform for readers and writers and i am both.
lovely. Nevertheless you can do both
I know, but I recently joined steem and I want to have a strong foundation and connection with my fellow steemians first, before I venture into other things
Diversification is one of the keys for portfolio management
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You got a 52.45% upvote from @upme thanks to @onyemacourage! Send at least 3 SBD or 3 STEEM to get upvote for next round. Delegate STEEM POWER and start earning 100% daily payouts ( no commission ).
Gave great information. I will try it today
Thanks for sharing your post. Hope you get a better post in front of you .
You got a 13.60% upvote from @postpromoter courtesy of @onyemacourage!
Want to promote your posts too? Check out the Steem Bot Tracker website for more info. If you would like to support the development of @postpromoter and the bot tracker please vote for @yabapmatt for witness!
I guess this is another platform to reward great social user. I must check it out . thanks for sharing this with us
how much is 1mithril?
0.34$
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Lit is a great app. I've had a lot more success there without the need for capital because the market isn't controlled by bot votes like it is here.
I didnt know about Lit before. I know ONO and it is a Chinese App like Steemit and reward with ONOT. Will check Lit out, because I love to share photos more than write :)
Interesting, I am going to check out this lit app. Thanks for the heads up.
something new heared today thanks for that. i dont aware of Lit app
need advice :) whice will be better for short term
Just joined lil
I couldn’t find the app in the Apple store. Is that the name of it “Lit”?
SDG
Fantastic work with this one. Nice review and continue the nice work! Glad to peer you posting again. Thank you for the updates.
I thank God its coming from @onyemacourage. We will look into downloading the app and then getting used to how it could be used. Thanks @onyemacourage
What benefit could steemit and lit in rewarding people who socialize in their platform? I mean, of course they should also get some money from it.
I m using both but I like steem mor because you have way more possibilitys.
If you talk about Social Mining you should also mention Bittube. I think it is a huge competitor for DTube and DLive.
i just realize steem got app XD LOL .. anyway, thanks for your sharing :)