NEW YORK, March 28, 2018 (GLOBE NEWSWIRE) -- Minds (Minds.com), an open source social network and community-owned platform with over one-million users worldwide, today announced the launch of Minds Crypto Social Network, the most advanced evolution of its decentralized social networking application (dApp) running on the blockchain for mobile and web.
Minds founding principle to always put user-rights in the forefront of every business decision drives the adoption of blockchain technology for their evolving social network. Minds smart contracts provide transparency and integrity visible on the blockchain. Minds Crypto Social Network boasts additional new features like a contribution economy and reward system, HD video and image hosting, live group conversations, crypto-wallets, encrypted messenger, native mobile apps, crowdfunding and a modernized blogging platform.
The implementation of the Ethereum blockchain for monetization of user content and advertising is a direct response to community feedback and will have a positive impact on the network by incentivizing user contributions, expanding organic reach and providing an additional layer of transparency and autonomy. Users are rewarded with tokens for the engagement they receive on the app everyday. The tokens can then be exchanged for more views on their content or peer-to-peer with other users for a variety of rewards such as access to exclusive content. Minds is one of the few blockchain projects to have a fully functioning application simultaneously available with the release of their White Paper.
The White Paper is available at: www.minds.com/crypto
The new decentralized application takes the company’s fierce commitment to user-rights and transparency to the next level with blockchain power behind it —
PRIVACY FEATURES
1. Encrypted messenger ensures privacy, as Minds has zero-knowledge of the contents of user conversations
2. Anonymity option grants users the ability not to reveal their identity, a human right declared by the United Nations. This is in stark contrast to forced ID by Facebook.
3. Free and open source software enables the peer-review community to inspect, modify and share the source code to prevent malicious spyware
4. HTTPS everywhere
5. Non-tracking Ad network
6. Comprehensive user-first privacy policy
BLOCKCHAIN-BASED FEATURES
1. Crypto wallet for mobile and web to manage earnings and transactions
2. Tipping for creators with recurring crypto subscriptions to access exclusive content and autonomously own the contracts with supporters and advertisers
3. Daily pool of tokens awarded to users who contribute the most to the network
4. Peer-to-peer advertising allowing brands to send token offers directly to each other in exchange for sharing content to their followers without a middle-man
5. Advertising transactions are published to blockchain for full transparency and auditability
OPEN ALGORITHMS & VIRAL REACH
1. 100% organic reach and chronological newsfeed without any restrictive algorithms
2. Spend earned tokens to Boost content for more views
“This is the next logical and exciting evolution in creating more open, cooperative business models in mainstream social media. We’re especially thrilled about the progress we’ve made in creating a more transparent and democratic ad network that runs completely differently from existing models by directly connecting advertisers and publishers.” - Bill Ottman, Minds.com
"Now more than ever, there is a critical need for a platform like Minds. With existing players trampling on rights and enforcing biases of often a minority viewpoint, Minds provides the perfect avenue for free speech, expression, idea sharing and individual liberties all with clear accountability. I am excited for Minds to empower and enable discussion on a global level."
- Elizabeth McCauley, Blockchain Pioneer, Advisor, Minds.com
“Minds' stated goal is to provide complete confidentiality for their users. By engineering HTTPS throughout their application, and leveraging end-to-end RSA 2048-bit encryption for messaging, they are well on their way to achieving that goal.” - Josh Shaul, Cybersecurity Expert
“One of the most concrete things that Internet users can do to fight back is to move away from giant, centralized web services and start using ethical, open-source, privacy-conscious social networks like Minds.” - Evan Greer, Fight For The Future
For more information on Minds, please visit www.minds.com.
About Minds
Minds is the leading free and open source, community-owned social network where users are rewarded for their efforts online. Minds is engineered for free speech, users can choose to be anonymous and all data is encrypted end-to-end for privacy protection. Minds rewards users for their contributions with crypto tokens that can be used for more content views or to support other channels and access exclusive content. Minds has become one of the easiest social networks to expand your following by providing 100% organic reach rather than restrictive algorithms. The company famously gained 1,500+ investors in a record breaking SEC Regulation CF equity-crowdfunding to become community-owned and the fastest company ever to raise $1 million in just 19 days. To learn more, please visit Minds.com.
Forward-Looking Statements Disclosure
This press release may contain "forward-looking statements" within the meaning of the federal securities laws. In this context, forward-looking statements may address the Company's expected future business and financial performance, and often contain words such as "anticipates," "beliefs," "estimates," "expects," "intends," " plans," "seeks," "will," and other terms with similar meaning. These forward-looking statements by their nature address matters that are, to different degrees, uncertain. Although the Company believes that the assumptions upon which its forward-looking statements based are reasonable, it can provide no assurances that these assumptions will prove to be correct. All forward-looking statements in this press release are expressly qualified by such cautionary statements, risk, and uncertainties, and by reference to the underlying assumptions.