Making the move to Web3 — How?
By combining social networking with blockchain finance and providing a high level of privacy and security for users’ personal data, flexible content monetisation options, fairly distribute advertising revenues and a more valuable user experience through content recommendations mylivn will change social networking — for good.
This change is enforced by a unique monetisation model based on crypto — we power our own crypto currency build on the Elrond blockchain.
Why Elrond?
Because our community voted for it.
The Elrond Blockchain brings many advantages to the mylivn network beyond the community demand.
Compared to Ethereum and many other blockchain technologies, Elrond has a massive reduction in transaction costs, is fast (15,000 tps with 6slatency), secure, and scalable. The decision was clear: Elrond is our blockchain.
With Elrond, the Mylivn platform users are given much more financial freedom and high security as Elrond is protected by $2.5bn+1 in staked asset. The tokens are directly attached to the accounts of our users they belong to instead of residing in a third-party smart contract. This has powerful legal and psychological effect on the ownership economy.
Mylivn uses smart contracts to implement the $MLVC token economics on Elrond blockchain and enforce terms of transactions in real time. Through the integration of NFTs, DeFi applications, and more, mylivn continuously improves and innovates its business model.
Mylivn’s token $MLVC is just as fast, secure, and scalable as ESDT (Elrond Standard Digital Token). Aside from that, Elrond’s native support of NFTs is key since mylivn’s economic model will enable content creators to display and trade any art as an NFT. With this innovative application and Elrond’s robust technology, mylivn’s growth will be secure and sustainable.
These are the reasons, besides the community voting, why we decided to go for our MLVC token on the Elrond blockchain.
One last very important point was: Elrond also uses standard hardware, so it does not require special equipment whose production and energy demands add to the level of carbon dioxide in the atmosphere. As the first European carbon negative blockchain, Elrond overcompensates for its carbon footprint by giving back to the planet through investments in sustainability projects, biodiversity protection, and social programs. Because our target group, Gen Z, is highly aware of these challenges, Elrond is an ideal choice.
