The social media cryptocurrency platform Mithril has announced in a blog post on April 18 that it has taken the bold move to migrate to Binance Chain, and will in fact be the world’s first project to do this.
In their press release, the Mithril team state “We are proud to announce today that Mithril will be the first project to migrate to Binance Chain, a blockchain software system developed by Binance and the community.”
The post continues, “By migrating to the Binance Chain, MITH token holders will be the first to experience the speed, security, and user friendliness on the new Binance DEX platform while maintaining full control over their own funds.”
The Mithril team have said that the migration of their MITH token from ERC20 to BEP2 will start just after the mainnet launch of Binance Chain, which is scheduled for April 18.
What is Mithril?
Mithril is a unique and decentralized social media platform which acts to reward all its content creators. The Mithril project is creating a large ecosystem that focuses on their core token MITH. The users of the Mithril social media platform get to aquire MITH from actions such as mining, they can manage their crypto assets on VAULT, and according to their press release, users can spend their MITH tokens in a wide variety of real life ways.
What is Binance Chain?
Binance Chain is a blockchain project developed by both the community and Binance itself. Developers from all over the globe, and the Binance Decentralized Exchange (DEX) is the main feature developed on top of the Binance Chain.
Binance has long lead the way forward in the cryptocurrency space, and their recent DEX and Binance Chain development see them set for continued success in the future.
Mithril is the first cryptocurrency project to migrate over to Binance Chain. Watch this space – there may well be dozens more projects making a similar decision in the near future.