Why I Am Optimistic About Hive

in LeoFinance2 months ago

It happens each time there is a pullback in the price of the HIVE token. When things turn negative in the markets, it affects the overall attitude in the ecosystem. Suddenly, negativity rules the day.


Source

@theycallmedan posted a video yesterday stating some of his views on the crypto market in general and what is taking place on Hive. Obviously, most are aware that Dan is rather bullish about the future of Hive. In fact, he stated that the foundation of his crypto portfolio is Bitcoin, Ethereum, and HIVE. These three tokens are the ones that he feels are worthy of investment in the long term.

Naturally, none of this is financial advice and each must do his or her own research. At the same time, I am not going to focus upon the price action since markets do what they will. Instead, I am optimistic about the future possibilities of Hive as a platform for development and an ecosystem. Ultimately, this should translate into the price of the token.

So what has me looking forward with optimism?

The Blockchain

We have the first Hive Hard Fork coming up in about a week. While this is one that is not feature rich, from the user perspective, there are some important updates.

One of the biggest changes is how the data structure will be. A lot changed since the original code was put together more than four years ago. As most are aware, four years in the software world is a lifetime.

This altering of the data structure is all about speed and scaling. We see the challenge that other blockchains are having and this is a situation that Hive is seeking to avoid. We all know that the blockchain is no where near maxed out but the time to address the issue is when there are no issues.

At the same time, the cost of running the chain will decrease. This is vital when looking at decentralizing. A more efficient data structure means less hardware is required to achieve the same end. It ends up translating into smaller Master and Witness nodes being used, thus enabling a cost savings. Of course, simply economics tells us that lower costs means more people tend to participate.

Finally, what cannot be overlooked is the fast and feeless aspect of Hive. Ethereum is getting a lot of attention for the gas fees. Many feel that Ethereum 2.0 will solve this but we will have to wait and see on that. Over the years, we saw a lot of projects promoting the idea of less expense only to fail in that task.

While big players in DeFi can absorb the fees, it does not make for a welcoming environment for those who are developing games, social media, or other smaller transaction based applications. In fact, it is completely impossible to pull this off without destroying what is being designed.

The Development

For the past few years, we saw a number of applications appear. Some are still with us, plugging along with updates and an expansion of their offerings. Others, drifted into the great abyss, never to be heard from again. This is the nature of development.

However, we are seeing an increase in the number of projects coming online. At present, there are about half a dozen blockchain games that are starting to take hold. While they do not rival the traditional gaming world, they are making some progress in terms of blockchain gaming. Splinterlands is still leading the pack yet there is a newcomer, @cryptobrewmaster, that is making some noise. It is moving up the rankings in terms of number of users; impressive for something that is still in beta.

We cannot overlook the breakthroughs Leofinance is having. The success in the last couple weeks is laying the foundation for the push the team is going to make for the rest of the year. The user interface is going to expand to provide features that people who visit financial sites come to expect. This was one of the reasons to develop it from scratch.

Success is going to be based upon the development that takes place. This means that applications are going to be what attracts people.

Opportunity For Entrepreneurs

This is a vital transition that Hive is going to make. At this time, we see a lot of the same people involved in all aspects of the ecosystem. This will start to change as entrepreneurs realize the potential that exists for them.

As Dan stated, where are people going to go build? Ethereum? EOS? Tron? Anyone who looked at what is taking place out there realizes there are drawbacks to many of the different blockchains. Certainly, Hive is not perfect yet it does offer something many blockchains do not.

Hive is very easy to build upon. One does not need a blockchain developer to integrate a site with Hive. Anyone who builds website and is familiar with the common coding languages can be utilized.

This is what will change the nature of Hive. Developers tend to focus upon the application. almost exclusively. Entrepreneurs understand the importance of the application but, to them, it is only part of the equation. Other aspects such as partnerships, marketing, budgeting, and market analysis carry as much, if not more, priority. Obviously, there are many developers who also take this approach which is why some applications are already progressing.

At the same time, anyone can come to Hive and operate as a business. Each of us has the ability to get rewarded many different ways. The more time one is active on Hive, the more he or she will earn. Activity, whether it is through blogging, commenting, curating, games, or a host of other features now offered, is what gets people noticed. It also carries a monetary value.

Hive is not going to be the only game in town. There are going to be many blockchains that are successful. However, Hive is already carving out a niche that can be highly attractive to entrepreneurs all over the world. This is going to serve it well as we see the transition into Web 3.0. Presently, DeFi is the rage, mostly on Ethereum. Of course, while smart contracts are not available at the base layer, that does not mean it cannot occur on Hive also. We already see a couple projects that are forming to provide some different financial opportunities.

In the end, application promotion and success will what be drives Hive. This is no different than any other database structure that it out there. Most are not aware of what cloud company an application they are using is hosted upon. Nor do they care. As long as the application serves its purpose, the users are happy.

Ultimately, I do not think that too many are going to be concerned with the name Hive, Ethereum, EOS, or any of the other blockchains. It will come down to the websites and mobile applications they are using. Hive is one of the stronger blockchains in terms of what it can do, in its specific niche. For the moment, it is best to not overlook the technical aspects. That is going to be very important down the road.

The process is very slow but things are happening. Each week, we see progress forward at the application level. This is what will eventually help to drive Hive to greater heights.


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

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 2 months ago 

rabona.io is doing well, too. Soccer team management game (keychain login).
$5 buy-in to get started. Heaps to do.
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You're so right that no one really asks or cares about who-what is hosting their successful-popular application, as long as it works and delivers. And yet with HIve when the rewards flow from many applications in Hive, they will know. Cos as the value of Hive grows, it can be increasingly be used to buy & trade IRL.

So much progress, so much diversity.

I'm seriously optimistic about Hive.

All valid points. The engagement is key in whichever form that is and you can. I am not aware of the technical superiority of the block-chain over others but it is simple to say that the more activity there is the more optimized the system will be.

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People are making money with cryptobrewmaster including yours truly. Cool game but the CBM keeps me coming back.

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I AM optimistic too, because this bkockchain give me the opportunity to get cryptos without investment money, and let me a great source for learning and teach about foraging and medicinal plants.

That is a great feature. Most of the world cannot spend money to get involved with cryptocurrency.

Enabling people to fill their bags through rewards is the future.

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Being able to fill one's bags without spending fiat is vital to the growth of crypto. I agree that it is a wonderful aspect to what we are seeing on Hive.

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Bankers have been an impenetrable elite in which only a few have the privilege of increasing their fortunes and passing them on from generation to generation, leaving a few very badly unemployed and unable to access good capital, and today we have the opportunity to reverse this holding Even if we do not become millionaires, it is very likely that we will obtain some tokens that will help us to live better in the future or to be able to reinvest.
Dear friend, thank you very much for your kind support for my comments, I am very grateful for that.

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The more time one is active on Hive, the more he or she will earn. Activity, whether it is through blogging, commenting, curating, games, or a host of other features now offered, is what gets people noticed. It also carries a monetary value.

Can't agree more.

We also need to make more True Believers of our HIVE Network and increase the Network effects of HIVE

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Of course, there's always this negativity when prices drop you see a lot of people predicting doom and hell. You've said it all in this post each day that passes things are changing though the fact it it doesn't reflect massively in the prices is why people aren't focusing on how hive is growing

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You said it right, a platform for communities and entrepreneurs to flourish with some real proofed projects which came to fruition. I am thinking of starting a project on my own with some devs, maybe I can make it happen.

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I can fairly say there will be 100x more noise made about Leofinance when it hits a dollar and goes above it. Then people will see what is possible on Hive and give everything to hop on. Then those of us who have been here a long time will say we told them so.

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I have to agree with allot BUT I noticed steem with all the people that left it still has a higher value. In my opinion the price is always right. I think steem and hive should both make the inflation correlated to the price. Low price low inflation - high price high inflation.

If we ignore price i see more use in hive for society and the future just because of trust.

Me too. That's why I show up daily 😀

We are in still in expanding phase of crypto and once user started understanding crypto then they will understand the Hive robustness.

Vary valid arguments. The growth of Hive may seem slow in the now but things would be right great in the future. The slow pace is to allow it cater for the great projects that are birthing.

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I did not upvote your post because I have noticed that the value goes down for some reason. If you know why that is please explain or direct me to a post explaining why post value goes down when I upvote. However it has been my experience that every time a new blog that pays out in some fashion : the mood is upbeat. Having been involved in many blogs that pay out, I have also the experience of discovering that at some point outside influences adversely affect the system or as is the case on steemit inside influences. It is for this reason that I no longer seek to make anything. My purpose is to share my experiences in life with others and learn from their input.

On Your Post.

I too have seen great strides in development of necessary tools for online decentralization. Security features that insure our privacy have developed to a degree that I never thought would be possible. Blockchain gaming seems to be in full swing and I expect many improvements to scalability as a result. I agree with the tone and direction of your post and only have the above stated reservations.

Very interesting! I think you're right; I mean, I think hive has a great future! Greetings!

Despite my comings and goings to the Hive blockchain, I never stopped believing. I have always kept in mind that HIVE is a long-term investment and everyone who has been with HIVE all this time will not regret it.

Just the fact that people can earn an income through countless ways at Hive is something that should be appreciated. And the best thing, without having to take a cent out of your pocket.

I hope it won't be long before more new users can discover this great financial opportunity and through LEO with your project I have good hopes for bringing these people.

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This is a great prospect to continue believing in Hive.

Yes, there's a lot of promising plans and Hive developments in work. And that's the most important.

I can fairly say there will be 100x more noise made about Leofinance when it hits a dollar and goes above it. Then people will see what is possible on Hive and give everything to hop on. Then those of us who have been here a long time will say we told them so.

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I am also very optimistic about the future of Hive @taskmaster4450, although I do find myself periodically puzzled by the dichotomy of the token's relatively low market valuation vis-a-vis the excellent ultility of the blockchain.

Hive ranks highly in active dApps, has low development costs, no-fee transactions, is very fast and has lots of expansion space. Groups like Weiss Ratings often has Hive quite well ranked. In some ways, it seems a bit like the old BioTech stock market where the companies actually building solid innovative products were valued far lower than those who just had a "high flying CONCEPT" with little but air and glamour to back them up.

So perhaps the real key here is to step back and simply be patient. It's a long term process. Sure, those Moonshots are exciting, but will they even be here, 5 years from now?

=^..^=

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