Why I Think Hive Can Be A $10 Billion Blockchain
(Edited)
Someone asked me today why I think Hive can become a multi-billion dollar blockchain. This is in reference to a post I did citing that target.
In this video I explain the parameters that gives me great cause of optimism and how I see Huve evolving over the next year or two. It is placed in contrast to Ethereum, which is no approaching half a trillion in market cap.
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Thanks for your thoughts Tman always a pleasure listening to you talk!
Be sure to catch the Tuesday's #Cryptomaniacs show. We have the SpkNetwork team on.
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Why hive will buy you. Tesla
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Hive is easy and cheap to manoeuvre. That gives it a lot of potentials and increases the possibilities of it becoming a 10 Billion Dollar blockchain.
Very good publication I liked it, besides I called my attention, because you talk about the progress and advancement that HIVE can have in the future, and that is what we want a growth and be better than what it is today. { I'm not saying it's bad but it can be better}. I congratulate you, you are a confident person, always thinking about the positive side of things.
Stunning, it was important you highlighted the fact that the fees which comes with eth for example was totally something that didn't make sense especially with the narrative of the NFT game. It makes no sense at all. Currently these applications will still chose to build on Ethereum because of the money. It feels like hive is always cheated in this aspect
Luckily not all of the NFT games are being built on the Ethereum (ETH) blockchain. We already have a successful NFT game, Splinterlands, which was Steem Monsters in the beginning on the Steem blockchain. Hopefully more and more game developers discover the Hive blockchain, and the "no transaction fee" advantage of it.
The NFT aspect to Hive is really just getting started.
EXODE is already distributing NFTs on a weekly basis. I believe @dcrops does the same.
So yes we are going to see more games with them integrated in. We will have to watch to see how much is spreads to other areas.
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There is no doubt, as a developer, if you want to get some quick cash, Ethereum is the place to be. It does not serve the usability of the game or application but it will net a tidy profit.
To build something that people actually use, have to focus elsewhere.
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Could the ascent of HIVE happen against the next bear market???
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It could although it is tough to counter overall market trends. But if some of the things discussed roll out, there is every chance that Hive outpaces the rest.
We are at the expansion point now. So development could end up driving a lot of demand for the token in the next 6 months or so.
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I think the last price increase gave a glimpse of what Hive can achieve, it's just a matter of continuing to work on it.
Summary:
In this video, the speaker discusses the potential for Hive blockchain to reach a $10 billion market cap. He highlights the technical strengths of Hive, such as feeless transactions and the resource credit system. The speaker compares Hive to Ethereum in terms of scalability, smart contract capabilities, and transaction fees. He emphasizes the importance of attracting impactful applications and games like Splinterlands to drive growth and adoption on Hive.
Detailed Article:
The speaker begins by addressing a query he received regarding the possibility of Hive becoming a multi-billion dollar blockchain. He emphasizes Hive's technological superiority over other blockchains like Bitcoin and Ethereum, particularly pointing out the issues related to transaction fees and scalability that plague these platforms. He argues that while Bitcoin's focus on security might not necessitate high scalability, it becomes a crucial factor for other Proof of Work chains like Ethereum.
The speaker delves into Ethereum's transition to Proof of Stake and the implications it may have on transaction costs. He discusses how high transaction fees on Ethereum might cater mainly to larger players like Wall Street, potentially limiting the platform's effectiveness for broader applications such as gaming, social media, and NFTs.
A key point of contention for the speaker is the impact of transaction fees on blockchain usability, especially in scenarios like NFT ownership and transfers. He lauds Hive's resource credit system as a pay-to-play mechanism that ensures users have a stake in the ecosystem, allowing fee-less transactions while requiring participants to be stakeholders in the network.
Furthermore, the speaker outlines Hive's potential for success, citing the utility it offers and the growing momentum seen in projects like Speak Network, Leo, Exo, Bro Fund, and Stem Geeks. He acknowledges the need for more impactful applications and games on Hive, similar to Splinterlands, to attract developers and users, thereby fueling growth and increasing the market cap.
The speaker underscores the importance of smart contract capabilities in propelling Hive's advancement to compete with Ethereum. He envisions a future where Hive can offer ease of interaction with the blockchain, secure development environments, and attractive opportunities for developers. Moreover, he emphasizes the need for organic growth through impactful applications, strategic partnerships, and a supportive community to gradually increase Hive's market cap and establish itself as a strong player in the blockchain space.
In conclusion, the speaker expresses optimism for Hive's potential to achieve a $10 billion market cap, highlighting the platform's unique strengths in fee-less transactions, scalability, and developer-friendly features. He anticipates sustained growth through the adoption of impactful applications, smart contracts, and strategic partnerships, aiming to position Hive as a significant player in the blockchain industry.