Why Everyone On Hive Should Be Super Excited After Blocktrades Post Yesterday

in LeoFinance3 months ago

Sometimes we simply do not realize how good we have it. Humanity seems infected with "the grass is always greener" syndrome. No matter what we have, something else must be better.

The reality of the situation is that the Hive blockchain has a lot to offer and can be one of the leading forces in the shift towards Web 3.0.

It is easy to look at the number of users, or lack thereof, and say this thing is dead. However, there are times when someone who has some deep knowledge about the industry chimes in and makes things a lot clearer.

Before going forward, I think it is important to mention some things about Dan Notestein of @blocktrades. While there are many feelings about him and the company, the bottom line is this guy is one of the forerunners working behind the scenes in crypto.

He was there early on with the Larimers. It is obvious he had a part in the framework that is now Steem. I would also surmise that he also had a part in the creation of the Bitshares ecosystem.

Naturally, he was one of the leading parties in putting together the fork from Steem after the Justin Sun episode. However, that is not his only venture. He, and his company, had a big part in the development of the BEOS network, which is a fork from EOS. This creates a union between Bitshares and EOS enabling transfers to go back and forth.

The reason I point all this out is to show that Dan knows a great deal about many projects, especially from the technical side. Hence, when he lays out the pros and cons of different architecture, he is speaking with a great deal of experience.


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In the Blocktrades post, it was laid out that Hive offers many advantages to developers because of how it was constructed. Most of the publicity is going to blockchain such as EOS and Ethereum, ones that have smart contracts at their base level. While this provides for more opportunity in the native offerings, there are drawbacks.

One of the biggest is the fact that it takes advanced coding capabilities to develop on those blockchains. Since Hive has all application development at the second layer, any, or a multitude, of languages can be used. Thus, for entrepreneurs looking to set up applications, finding people is a lot easier. Basically, if someone can code a website or an app for Google, they can develop on Hive.

Many have questioned what Hive is and how will it proceed forward. According to the post, Dan's view is summed up as such:

my vision is to make Hive the most attractive platform for the development of innovative, decentralized applications.

I won't go through all the details of the post. Instead, if you have not read it, I suggest everyone give is a look.

https://peakd.com/hive/@blocktrades/hive-s-future-as-a-2nd-layer-blockchain-network

There was a lot in there and many of the basics were covered. The conclusion that I took away is simply there are few places as good as Hive to develop decentralized applications. While Ethereum and EOS get a great deal more publicity, they have major negatives. Between potentially high transaction fees and security issues, the Hive platform can offer a great deal more.

Layer 2 solutions provide enhanced security, more flexibility, and limit the bloat on the blockchain. With so much focus upon scalability, this should really excite people about Hive. The ability to scale is there.

As blockchain expands, we are going to see more people attracted to this industry. Businesses are going to incorporate this into their operations. The question is where do they build?

For entrepreneurs, one of the biggest concerns is start up costs. From the few developers I talked to over the years who are sour on Ethereum and EOS, the main reason they feel that way is the difficulty in development. It is not easy to create on those chains. This means, for entrepreneurs, there is going to be a greater start up cost. As we know, those who can code directly on blockchains are getting large sums from major corporations.


Source

Of course, this was not the only endorsement that Hive received recently. A little over a week ago, @cryptofinally put up a short clip of an interview with Ethereum co-founder and founder of Cardano, Charles Hoskinson. In it, he mentioned his interest in collaborating with Hive in the future.

https://peakd.com/hive-161092/@cryptofinally/zffqxtdl

Getting on the radar of a guy like Hoskinson is never a bad thing. From the video, he was impressed with the community, something that Dan also alluded to in his post. While the Hive community does not rival Facebook or Twitter in numbers, it does stand out in the blockchain world. The dedication shown would excite any developer. Why not go where there is a built-in user base who is willing to try out new applications.

Development takes time. There are few shortcuts to coding. When creating an application, the work needs to be put in to bring things into existence. There is really no way around that.

For that reason, I think it crucial to remember the stage we are at. Hive is nearing 4 months old. Sure, a lot of what is here was already in operation on Steem. However, many projects were paused during the uprising with Sun. At the same time, we are learning there are a number of behind the scenes tasks being done that will make the technical aspects of the blockchain even better. The focus on increasing the efficiency of the chain is going to pay dividends.

So, while the investors in the crypto world might be overlooking HIVE, the bottom line it is getting on people's radar. This should be exciting to every token holder. When the mad rush to start businesses on blockchain does begin, Hive will be in a prime position to benefit.

It is a process yet there is a lot to be optimistic about. Yesterday's post by Blocktrades only increased my optimism.

I hope others feel the same.


If you found this article informative, please give an upvote and rehive.

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Hive has grown exponentially with many developments happening in the background, each growing the chain in a variety of exciting ways. Will go read each more methodically to understand in full the discussion taking place.

@tipu curate

Upvoted 👌 (Mana: 6/12)

There are a lot of projects being developed. As Dan noted in his post, he hasnt even been able to keep up with the apps on Hive let alone across the industry (it might have been in the comments).

Regardless, it is exciting to see what is happening.

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If Charles Hoskinson is looking to colaborate with Hive, then Hive Games will benefit from it. eXostatic! (Fantastic in the eXode Language 😃)

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Thanks for making us known how lucky we are to have @blocktrades team in our side. Dan is a real OG of crypto and he knows what he saying and all his actions

Why not go where there is a built-in user base who is willing to try out new applications.

The community on Hive for me is second to none, I just put up a tweet asking Hivers to describe Hive in one word. Hive in one word for me is community. It is one of the catalyst that will make Hive a success, we are always willing to try new Apps on here. The future no doubt looks promising by the look of things.

Opportunity is the word I would choose @joetunex.

Hive is going to provide the opportunity to millions to change their financial lives.

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Opportunity sounds great for Hive!

Delusional is another word.

You're soooo me in your thoughts, just the older version. We write alike, or so I like to think. Glad to have you here mhn,....

Awesome post and great insight as I'm one that doesn't follow what's going on in the crypto space.

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There is only so much each of us can focus upon. It is tough to keep up with it all.

That is why it is vital for all of us to share what we uncover in the different areas.

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You are quite right that these are two very serious, respected and experienced people in blockchain who are noticing the huge potential of Hive.

I met and debated Charles a couple of years ago in Tel Aviv. His intellectual rigour with regard to cryptography and computer science is very impressive.

Did you win the debate or was it a draw?

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I actually posted about it in one of my earliest posts on this blockchain.

https://peakd.com/crypto/@apshamilton/51-attack-by-nation-state-pow-vs-pos-debate-with-founder-of-eth-etc-ada-coins-and-iohk-company

I think it was a draw but he gave me a nickname. :-)

So if we call you The Miner, you will respond? LOL

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Since then I've become much more familiar with the benefits of PoS, but the whole Justin Sun episode proved my point re PoS vulnerability (maybe he is a Chinese government agent).

PoS, especially DPOS like Hive, is great for DApps and social media but not for the ultimate security of funds which require capital and energy intensive mining (ie Bitcoin).

So for serious money call me The Miner.
For everything else I'm a Hiver.

Great post!

The power inside Hive is really big and the future looks good.