February 5, 2020

BlogCoinz

Cryptocurrency and Technology

Minds, a Decentralized Social Media Experiance

I wrote about Minds back on the bitcorner (old site) and thought I should redo that post. Its a unique platform but easy to forget. Let’s dive into Minds.com

What is Minds?

Minds is a decentralized social media platform. It functions similar to Twitter in the sense that you have a news feed and not a friend feed and can make posts with hashtags. Minds general experience is a lot like most social media platforms but it does a lot to up the ante. Being decentralized, it is also not censored which has become a haven for free speech. You will see a lot of great content on Minds and a lot of not so great content but you can filter out as you build your account.

Tokens, Boost, and Paywalls

Minds is based on the Etherum blockchain and uses ERC20 Mind tokens for onsite transactions. What do you transact with? People and posts. The tokens are earned by posting and getting upvotes. You can also earn tokens by having people give them to you or having them pay to see some of your content (Paywall).

Once you have earned some Mind tokens you can spend them a few ways. You can use them to get through paywalls and view other people’s content. This is a great way to support content you like and want to view. You can boost posts to guarantee they are seen by X amount of people. (1 minds token equals 1000 views). You can also trade them for ether and then USD. 1 Minds token is worth about 14 cents.

Conclusion

Minds is a fun platform with lots of content you might not see elsewhere due to censorship. Its a great way for content creators to get their stuff out to lots of people for low cost and earning tokens is easy and happens fairly quickly if you make decent content. The use of hashtags is great and the paywalls make it a great place for content creators to post. I doubt it will ever get as big as Facebook or Twitter but it is a fun platform and if you want to reach as many people as possible you should be on this as well.

If you would like to follow BlogCoinz on Minds click here.