RE: Hivefest: 2021 Is Going To Be A Great Year
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As noted on many occasions, the value of Hive will ultimately come down to what is built on the second layer. This is the focus of the core team. They want to streamline the code to reduce the need for hard forks. From what was stated, this will eventually deal with mostly governance issues.
That means creating a platform of developers tools and infrastructure for the second layer. The advantage to this is that we are going to see updates in a more rapid fashion. Hard forks need to be spaced out since they are a challenge plus exchanges have to adhere to them. This means the shutting down of wallets which impedes user experience.
This info is gold and was one of the most important if not the best from yesterdays event. I think this is the right way to go, if SMT (Smart Media Tokens) or HMT as people call them now, can't be inserted on the 1st layer.
Let's not forget that 3-4 years ago this blockchain was on top 5 under the market cap. I personally think that it can get back there with community work from everyone.
Thanks for the summary and the personal comments.
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I dont think there is anything stopping SMTs on the base layer. The code hasnt thoroughly been reviewed or tested. What is interesting is part of it (the code) is being used for like the recurrent payments.
As for where things were 3-4 years ago, there is a lot of difference in the industry in general. In other words, it is a different world.
This means that we could see radical changes over the next 3-4 years.
Where all of that takes Hive, we shall see.
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It would be cool if the 1st layer would be better investigated as SMTs will open such a high range of possibilities.
You are right, 3-4 years make a lot of difference in the industry as it develops, from a blockchain point of view, I see Hive still one of the best, regarding cost and speed and the possibilities it offers, so hope that in 3-4 years it shall reach again top10 at least from value rank.
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