Hivefest: 2021 Is Going To Be A Great Year

in LeoFinance4 months ago


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Yesterday was Day 1 of Hivefest. Obviously, due to the circumstances globally, hosting the event in person was not feasible. Hence, we are now experiencing life in the virtual world.

Nevertheless, for more than 4 hours, presenters detailed their plans for the foreseeable future. While it was talk, it is good to see road maps being put forth.

Overall, it was an exciting set of presentations. Incidentally, the two I am most looking forward to did not present. Both Leofinance and 3Speak are on slate for today.

That said, there was a lot of good information contained in one area. Much of it was already out there yet it required some digging to find.

Without going through each speaker, especially since many will want to watch for themselves, there were some highlights that are important.

Minimal Base Layer

@blocktrades and @howo were the presenters for the core development team. They were able to provide their views over the next 6 months.

The basic takeaway is that the work on the base layer is being done to narrow its focus. Blockchains are a pain in the rear end. Thus, the idea is the less that is on that layer, the easier things are to deal with.

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.

By having much of what is taking place on a second layer, we are likely to see a spreading of appeal for developers. People will not be dealing with something new since they will be connecting in a manner that they are accustomed to.

Hive-Engine Has Big Plans

There was a lot of attention given to Hive-Engine lately as people started to question the decentralization aspect of things.

However, that does not appear to be deterring the team. @aggroed laid out the vision for the project while @cryptomancer detailed some of the specifics.

Basically, the vision of Hive-Engine is to be a back end system whereby entrepreneurs can come and quickly build their projects. Essentially, the goal is to have businesses forming on Hive-Engine and tied to Hive. For this to happen, they need the tools to achieve this.

The focus now is on creating a host of smart contract templates that can quickly integrated into whatever is being developed. Some of the games are being rolled out as examples of what is possible. Think of these as proof-of-concept cases.

Naturally, the question of decentralization did come up and @cryptomancer did state that was one of the goals for the team. The timeline tossed out was that it would start to be addressed in the next few months.

Another interesting point is the concept that most any tile on a website such as Etsy or Amazon could ultimately be a NFT.

Something to keep in mind as the industry keep innovating and expanding.

Applications Keep Moving Forward

It is getting difficult to keep track of all that is taking place on Hive. The panel of speakers included a number of applications represented. Peakd, Splinterlands, Keychain, Ecency, and Hashkings all were covered.

Again, there is a lot on the agenda, more than can be covered in one article. However, all of these are looking to expand their capabilities greatly in 2021.

This is not surprising since some of them were very active in 2020. In fact, if we go pre-hard fork, some of these applications were staples of life on the other chain.

Onboarding

Blocktrades discussed how the focus is upon making the base layer able to scale. That is what all the work, it seems, the past 9 months was concentrating upon. Optimization and other focuses are done with the intention of being able to handle a lot more traffic than we presently see.

Of course, that will not be necessary unless users are onboarded. Here we saw many of the presenters offering ideas as to how that can be best accomplished.

One of the biggest steps forward was actually put forth by Howo. He stated that they are working on the Resource Credit Pools which will allow users to offer up their unused Resource Credits for others to use. This will help a great deal with enabling newer users to be active.

Ultimately, it appears the consensus is that Hive is still too difficult to onboard newer users. There was much discussion in the past about "lite" accounts and using other means of signing people up. A few applications now allow Google and Twitter account sign ups. Splinterlands also enables participation without one having a Hive account.

It appears this is a continued focus by many behind the different projects.

Hive and V/R

As mentioned, the entire gathering was being done in virtual reality. Having a virtual experience was new for most people. There is no doubt that this technology is still in its infancy.

The hosting of an event in this manner was due to circumstances. It seems like a good way to compensate for what is taking place.

However, that is not the end of it.

@themarkymark put together an interesting presentation. He discussed the idea of using the V/R realm to actually attract people to Hive. Instead of hosting calls and gatherings using a platform such as Discord, perhaps look at entering the V/R world.

He did a great deal of investigation into AltSpaceVR and there are events taking place all the time. There are a number of them that cater to cryptocurrency people. Some are successful at attracting dozens of new people with each event.

The idea is for projects to start using this as a way to enhance their project while also trying to tap into newer users. Simply put, this is an added layer to what we are presently seeing on Hive.

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Overall, the day of presentations basically validated what people think about Hive.

If one thinks Hive is garbage and on the way to collapse, this event probably reaffirmed that viewpoint. There were no magic moments or killer DApps introduced. We are still absent a road map that takes Hive from a $50 million blockchain to $3 billion.

On the other hand, for those who pay attention to development and size the state of the ecosystem on more than just the token price, we see a lot is happening. Many time, revolutions are evolutionary in nature. Exponential growth takes place after years of plugging along. That certainly appears to be the case with Hive.

Nothing mentioned is going to instantly change the fortunes or state of affairs on Hive. Instead, it is more of a building upon what took place in 2020. Many projects, including the base code, took major steps forward.

Remember, a year ago, we were just about to enter into the Justin Sun fiasco. If memory serves me, we were still at the stage of rumors swirling involving Sun and the buying of Steemit Inc.

Thus, consider how far we came.

2021 looks like we will see a great deal of infrastructure put in place. This should make life for developers a lot easier.


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Great summary champ. Hopefully and thanks to the people that tirelessly work hard on Hive we are going to get some advance by next year. Onboarding and making this simpler is a must if we want to take things to the next level.

As a newcomer I can say this thing is not simple at all !
But damn worthy, so hang on newcomers ;)

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It really is worth the effort. Yes it takes a while to figure most of this stuff out. All of us went on that learning curve.

However with what is taking place, there are going to be grand opportunities here.

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Is anyone from weedcash going to speak?

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Haskkings spoke yesterday.

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Well, carbon has to be put under pressure to become a diamond exploded, the same happens with hive and all its ecosystem, it has to be submitted to changes and pressures to be the social network we all want, so while we continue to support the projects and be aware of the updates.

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This is an undervalued chain, doesn't matter when you read this. I hope someday we can see Hive being valued like Ethereum or Bitcoin are but for that people should look for the amount of applications that it has and not only its trade volume or name.

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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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I read a specific post about Hive-Engine some time ago and I was thrilled by the huge undertaking that they are willing to take. The HE team has always been progressive about their moves and they have brought many of the best use-cases of steemitHive.

What I'm most excited about is the "modular code" which anyone could use to create apps without knowing anything about programming languages. If coupled with effective marketing, this product will have a good chance of resulting in many many good applications for the Hive community.

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It is true that, while many are down on H-E due to the centralization, it does offer some great potential.

We will see how they progress. They are well aware of what the view is and why people feel that way. The fact they mentioned decentralization in the second presentation shows that they will unroll it at some point.

Their vision does look to bring a great deal to Hive.

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Here is to 2021 and the future of Hive. May it be brilliant.

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Thank you for this post. I was not able to attend and it's great to have some info till I'll be able to watch what is available about HiveFest.

It's great to see what devs are working on and what future plans they have. I agree, Hive blockchain is still pretty young, is less than a year old even though we had Steem before. In these 9 months we made more progress than in 4 or so years before in my opinion. Things are moving forward and that's what matters. 2021 will be the first full year on our own, so I'm looking forward to see all the great things that are going to come.

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In these 9 months we made more progress than in 4 or so years before in my opinion.

That is true. We are seeing what happens when it falls to the community to get things done.

Steemit Inc was a poorly run organization that caused a lot of delays. Too bad but nothing we can do but move forward from this point.

There is a lot of development taking place which will help the overall system.

It is just a matter of having one breakthrough.

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Massive plans will be put in place next year (and I'm ready for it).

2020 was a challenging year for blockchain and cryptocurrency and 2021 will be even better.

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It is incredible to think of where we were a year ago compared to now.

What a strange year for Steem/Hive.

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Beautifully summarised all the highlights of the day. It gives pleasure that lot of development is going to happen on Hive blockchain.

It is exciting to see what is happening.

Just watched the 3Speak presentation.

Game changer like was expected. Really amazing addition to the Hive blockchain.

It will be a very interesting year.

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I missed that presentation. Do you have a link?

Brilliant idea Hive put V/R technology will bring dozen new people this is future of blockchain!

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Yep, it will only grow in time.

These were the projections PRE-COVID..

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it's as you said, no big announcements came by both days, that a person would say ohhh my god we gonna become rich! On the other hand, we saw that a great of work takes place behind the scenes and many people are looking for the next day. they are trying to code and do stuff most of us can't understand for the primary reason of making any operation run smoother.

In other words, they are to build a strong baseline above everything else, and then the rest will come! we don't want for example to have the masses and then the one crash after another to be happening, everybody will leave!

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I think the big announcement was by the 3Speak team.

To me, that was enormous. It seems like there is a lot of development still left to do on their end. Also, they are waiting for smart contract capability which is being worked on by a few teams.

The Leofinance road map looks interesting although nothing surprising there. Just a continued evolution of what we saw in 2020.

We will be world's ahead of where we are no a year from now.

It will be spectacular to witness all that will be taking place.

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totally agree about 3speak, i also heard about koinos and i wanna check more about it as well as one new game :P

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I am just wondering from yesterday post if Dlux and Hive-engine are in agreement. Where we like to proceed for second layer. We will choose Dlux, or HE or Blocktrades come forward with something else.

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My guess is they are working separately.

We will end up with a few different options. Who will offer what stands to unfold.

H-E seems to be targeting a much wider market with NFTs and an assortment of smart contracts. DLUX, from what I can tell, is more exchange (financial) in nature.

Not exactly sure what BT is planning other than some type of server network for smart contracts.

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Thanks for the recap. Could you do another one of these after today concludes as well? Perhaps there is some new info today... I'm especially interested in the airdrop of the 3speak token etc.

Yes I will do that although I missed the first 45 minutes already. I will see if there the video is up by the time I do the post.

I am very interesting in what 3Speak and Leofinance have to say.

Each team only has 15 minutes according to the schedule which is a bit disappointing to me. I think they should have been allotted more time even if it was at the expense of others.

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Agreed. Though a lot can be said in 15 minutes, especially if you don't recap what everyone already knows. :)

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Bang, I did it again... I just rehived your post!
Week 36 of my contest just started...you can now check the winners of the previous week!
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Thank you for having transcribed the content of the speeches at the Hive Fest of the first day, there are so many good news that show us that Hive is on the right path but it takes time, and we have been saying this from the beginning😎

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Thank you for giving us a run down on how the VR event is going. I’m looking forward to an even better 2021 on the Hive Blockchain!

Thanks for the summary. Unfortunately, I was not able to attend because my old laptop lacks the "oomph" to stream something like this, and my main desktop machine has been in the shop for a week for repairs/upgrades.

I think you're quite right that "How Hive Is Doing" depends on one's objectives and perspective. If you're looking for a high flying project that's going to Moon 100x in the next quarter, you're basically in the wrong place... this is more and more a "utility coin" and they seem to be more stable and slow moving.

But the thing is, SUSTAINABLE revolutions tend to be pretty slow moving. Not a lot of fireworks... but you get to wake up three years from now to discover that you've actually quadrupled your investment, gradually... in an environment where bank yields are basically zero and even corporate bonds pay 4%. And that's not too shabby... particularly for those of us who really don't give a rat's rear end about Lambos!

Another interesting point is the concept that most any tile on a website such as Etsy or Amazon could ultimately be a NFT.

For me, that snippet has the potential to have huge meaning because suddenly it reaches out to a huge market, not just tight little niches.

=^..^=

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Not enough focus on SMTs imo. Hive-engine is taking too long to decentralize. Loved everything but wanted to hear something about layer 1 SMTs.

Good job brother

I think a Hive V/R space is going to open up many more opportunities. There used to be a game, hobbo hotel I'd play and you can host games, etc. Since so much programming was done to set up HiveFest altspace V/R you mine as well take advantage of that work and compound it further!

Many communities could leverage this too. One idea might be trivia night, or let's have a drink where you drink beer, Hive Dating could be one too hahaha

Thanks for the summary.
Agree with you on exponential growth. All we need to do is continually improve the system and develop it to serve a purpose. The real game begins after that.

Regards,

Great summary!
I managed to attend only the first day of the conference but I loved it.

Here are my pics!
https://hive.blog/hivefest/@gaottantacinque/hivefest-how-to-claim-your-badge-pics

Nice Summary, did Leofinance present anything?

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This is actually quite positive stuff. It's a five-year-old chain so we're at the stage of focusing on making what we have really work and delivering dApps to users. The "to-the-moon" fluff talk is, okay, great for general morale but this delivering and polishing actual end-user things shows we are a hive of activity with a healthy working buzz.
Yeah, we could do more with a flashy front-person getting into arguments on twitter and making headlines, sure. But none of that amounts to more than a bubble without eventually delivering. Thanks for the recap.

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