minds tokens | BTCC Knowledge

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What is minds token?

MINDS is the native token of the Minds platform. The MINDS token is based on the ERC20 token standard and is a utility token that works on the Ethereum blockchain. According to its website, MINDS coin is the fuel of the Minds network.

Are minds tokens ERC-20 compliant?

Minds Tokens are ERC-20 compliant tokens, meaning they follow the ERC-20 standard. While Minds Tokens reside on the Ethereum blockchain, they are not to be confused as Ether for which they are certainly not. An important difference between Minds Tokens and Ether is where they come from, and how they earn their value.

What is a tokenized reward system?

Moreover, a tokenized reward system allows users to earn access to paid services on the Minds network. Such paid services include advertising and premium membership. Further, the token is used to purchase advertising impressions through boost. The whitepaper claims that the token provides guaranteed views of the user’s content.

What is a boost token & how does it work?

Tokens can be used to purchase advertising impressions on the network through Boost. One token grants guaranteed views of your content or channel from the greater Minds network. Boosting is an effective way to grow an audience or gain more exposure on a channel or any given piece of content.