Minds.com, blockchain social network, has announced Monday that it would move its platform from the current testnet to the ethereum blockchain.
Minds claim that its platform provides an accessible social network without censorship including in areas with authoritarian leadership. “When governments crack down on free speech and team with centralized social media surveillance companies, [Minds] provides a refuge for individuals seeking an avenue for global interaction and idea exchange.” Elizabeth McCauley, blockchain business developer, and Minds adviser said in the press release.
In the statement, the CEO of Minds, Bill Ottman noted that the platform currently gets 500,000 page views daily.
The platform, which is seen as a blockchain-based alternative to Facebook, has been operating on its Rinkeby test network for about four months and have decided it is time to go live on the ethereum network. On the testnet, users earn test tokens but after the migration, these users will be eligible to receive its live token through a free airdrop. Mind estimate that 75 percent of its 1.25 million registered users have earned test tokens
Ottman also spoke of their expectations form the migration and plans the team is making towards it. He said that he expects an overall increase in on-chain and off-chain transactions following the migration as token withdraws, purchase and rewards are activated. To manage this increase, Ottman said the team has developed a “hybrid on-chain/off-chain model”. The model will also improve the user experience.
The Testnet allowed Minds to test its use cases before a full launch on ethereum. According to Ottman, the use case for its token was very popular in the testnet. In some of the use cases, users earn tokens by creating and interacting with content. Tokens can also be used to boost the audience of a post or to pay content creators and subscribe to premium content.
For the migration to go ahead, Ottman noted there will have to be a 24-hour pause in p2p transactions between users via our Wire and Boost features. This disruption he says is necessary to ensure that the airdrop to the beta users accurately reflects their prior token balance of earnings before the migration. He also addressed concerns of congestion on the ethereum network by noting that the on-chain/off-chain hybrid model will help the platform handle large user volumes without congesting the ethereum network.