image source

---

Hello everyone this is your crypto-girl @ankarlie once again to share with you a new and exciting cryptocurrency and it accompanying application. First off I would like to make a shout-out to @allerie00 and @maverickinvictus for informing me of this new cryptoccurrency and its accompanying application. Thank you guys I almost missed this one.👍👍👍

image source

---

The cryptocurrency that I want to share with you today is called Mithril and its first application LIT.Mithril is an ERC20 Utility token, that currently is being used as rewards for sharing pictures and short videos in an application that is called LIT. It has recently been listed in Coinmarketcap.com last March 25, 2018. AS you can see in the chart below it has recently pump and reached an all time high of around 90 cents USD per MITH, currently the price of MITH is just a little above 40 cents USD which seems to be the resistance level. If you are interested in buying MITH you may do so in Okex exchange which currently is the only exchange that trades the token.

image source

---

LIT is the first application that will use the Mithril as rewards for content creators in the LIT network. They have coined the word "Social Mining" which is just a fancy word for sharing user-generated content and letting others users to rewards you by "liking" your post or "following you." It is very much the same as Steepshot the STEEM verson of Instagram. listed below are some of their similarities and differences:

image source

---

Features	Steepshot	LIT
Cryptocurrency	Yes	Yes
Multicurrency support	Yes	No
Reward System	Yes	Yes
Penalty System	Yes	No
Search tool	Yes	Yes
Comment section	Yes	No
Private Messaging	No	Yes
Short video Support	No	Yes

---

As you can see in the table above there are a lot of similar features between STEEPSHOT and LIT they are after all both Instagram alternatives that ran on a cryptocurrency protocol. The only issue that I have with LIT is that android users cannot capture and post videos while Iphone users cannot write on their photos. I am not sure why the developers released it that way but for that how things are in LIT.

How does Mithril and LIT compare against STEEM and STEEPSHOT?

Currently Ethereum is "inferior" in terms of scalability and cost of transaction compared to STEEM. Mithril at its current form is subject to the same weaknesses as Ethereum: Scalability, transaction cost and no user-friendly wallet addresses.

image source

---

In one of the paragraph in their white paper the developers states that:

As blockchain platforms continue to evolve, we intend to continually assess platforms for their ability to support the best and most optimized social network token. Scalability, transaction cost, and community support are the top metrics by which we will measure platform viability. As Mithril evolves, we intend to keep close watch on leading Ethereum scalability solutions such as Plasma, Raiden Network, as well as platforms outside of Ethereum, such as EOS and Zilliqa. Finally, we intend to explore the option of launching our own Mithril blockchain to best address the needs of social network applications, swapping all ERC-20 MITH token holders onto our mainnet tokens

---

The developers clearly states that they are always open into migrating to any platform that they feel has the scalability, transaction cost and community support. What I am surprised though is that why they have not considered STEEM's SMART MEDIA TOKENS but instead apt to include in their option EOS which is a very formidable platform versus STEEM as they basically have the same original architect.

image source

---

In terms of applications LIT and STEEPSHOT is about the same in terms of features and functions. However in terms of exposure I think STEEPHSHOT has an edge as all STEEPSHOT post are also shown in STEEMIT. Moreover STEEPSHOT also support GOLOS another cryptocurrency that is a fork of STEEM whose community is run differently.

Another advantage of STEEMSHOT is they have a web app. LIT only have apps for smartphones (Android and iOS).

If you want to learn you more about the token and its application you can join there social media network in the following sites:

---

That is it for now my friends I hope your find the article informative and helpful. Good by for now!