Steemit Vs Lit App

in #steemit6 years ago

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Social MIning is the newest invention in the Crypto space. To my best of knowledge, Steemit happens to be the first of its kind to financially and intellectually reward users for socializing.

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I have been on Steemit since 2017 and have explored all its features.

Few weeks ago, I came in constact with Mithril ecosystem and the Lit App. I've been on the lit app with the username onyemacourage for weeks now and I've used all its features, shifting (where you convert your MITH to ETH in seconds) , staking (similar to powering up on Steemit), withdrawals, deposit, etc.

Here is a few differences between steemit and Lit

  1. Steemit posts get cashed out in 7days....Lit Posts get cashed in 24hours

  2. Steemit allows photos and articles..... Lit app takes just photos

  3. Steemit pays in Steem and Steem dollars.... Lit pays in MITH

  4. Steemit is the social media and the wallet where transactions can be made..... Lit app doesn't support transactions, transactions are made using the Mithril vault.

  5. Steemit takes 3-7 days to verify new accounts..... Lit app takes 2minutes

  6. Steemit is a website..... Lit is a Mobile App on Android and Apple Stores

Some similarities between Steemit and Lit

  1. They are both social mining platforms
  2. They both reward users for socializing
  3. They pay in crpytocurrency

You could follow me on both platforms with the username onyemacourage

DISCLAIMER

This post isn't bent to criticize or support any of these inventions. All users are responsible for their comments


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The Mithril Token is based on Ethereum. The problem with Ethereum's design concept is that it is totally broken in terms of scaling.

OK, so is that an advantage for Lit or a disadvantage?

It's a disadvantage for lit as network issues with the Ethereum blockchain can have adverse effect on lits ecosystem

Posted using Partiko Android

No payment for upvote ( heart ♥) or withdrawal of mith from vault mithril got that covered

Posted using Partiko Android

Moreover, what about the gas you need to pay for every action you take on Ethereum? Do you pay for upvoting in this Lit network?

Its free.... you can vote/like how much you want.... no power effected

Dont worry, Mithril will have their own blockchain on 2019... read their roadmap on whitepaper. Most Social media player use Lit than steemit, because steemit user control their vote to reward content Creator, especially the whales from steemit only vote their friends only

Will take a look at it, thanks for the tip:)

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Follow me on lit - nahin007

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I like it... and everything who pays it's user... thank for sharing. Honestly, I never know or heard about lit app before. Now I installed it and hoping to start earning too.

Welcome on board hoping to see your content

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At the same time steemit is just a website. There are many other clients to interface the steem blockchain such as steempeak, busy and others.

What's important to distinguish here is the technology behind them. As @bitsignal mentioned, Lit is based on Ethereum, which at the time is having scaling issues. When Ethereum implements casper and it scales properly then we will see more interesting dapps on it.

Otherwise steem is the way to go! Waiting for an upgraded version on eosio :)

But steemit user very cheap to give a vote.... Lit is different, all user easily give a vote

I use Mythirl for over 3 months and is an easy app for getting some crypto every day.

Gave great information. I will try it today
Thanks for sharing your post. Hope you get a better post in front of you .

You got a 13.60% upvote from @postpromoter courtesy of @onyemacourage!

Want to promote your posts too? Check out the Steem Bot Tracker website for more info. If you would like to support the development of @postpromoter and the bot tracker please vote for @yabapmatt for witness!

I guess this is another platform to reward great social user. I must check it out . thanks for sharing this with us

i just realize steem got app XD LOL .. anyway, thanks for your sharing :)

how much is 1mithril?