Minds has OffChain and OnChain tokens. In this video, I explain the differences as well as cover their new boost system.
Simply put, the main difference between OnChain and OffChain tokens is their use of and integration with the blockchain. Because of this, it costs Ethereum gas fees to use OnChain tokens on the network. The flip side of this is you can sell them and hold them off the platform for more security and liquidity.
The new changes to the Minds boosting system are listed below:
OnChain:
- Boost up 10k views per boost
- Stored on the blockchain
- Stands out in the feed
- Gains an "OnChain" badge
- Small Ethereum gas fee
OffChain:
- Boost up to 5k views per boost
- Stored on the Minds servers
- No transaction fees
Let me know if this helped you in the comments below. Also, feel free to leave any questions about Minds or things you'd like to see covered!
