Tron is receiving a lot of attention lately. It is making noise with new announcements such as DeFi applications. Being a top 20 ranked token, it certainly is poised to make tremendous inroads.
The tiff with those on Steem who were not happy is long passed. Now, it is time to focus upon business. After all, we are told there are over 700 DApp on that blockchain, making it one of the leading chains in that area.
Today, along the way to domination of the digital world, something happened. Those pesky Bees are at it again. Over the past month and a half, they made some noise also. Many are not sure what the buzz is all about, but it did show up in some numbers.
Here is something that tells a different story than what many are led to believe.
This has to be very upsetting. These numbers seem to indicate that few are using any of the 700 DApps on Tron. Where are all the users?
Doing some simple math means that each app is doing 437 transactions per day on average; not users, transactions.
For this, we see the market caps from Coingecko.com.
Tron is ranked #17 while Hive enters the picture at #49.
Of course, those who were on Steem know this story all too well. Steem was ranked in the top 5 for years according to the transactions yet the token price was way down in the list.
The challenge with this is the fact that the market did not value community. It overlooked how the activity was actually driven by users. This, naturally, became very valuable when the takeover started. Suddenly, the crypto world was watching the community stand up and defend itself.
Ultimately, that is the difference between Hive and many of the other blockchains listed ahead of it in market cap. The fact that there is actually something taking place is a major difference.
How long until the network effect actually starts to impact the rankings is anyone's guess. However, it is difficult to for chains to grow if there is very little activity. Add in the fact that many chains, of the activity that is there, comes mostly from gaming bots, and we can see where the future value lies.
Since Alt-Coins are going to be dependent upon utility, who is using it will, eventually, be the important question. All the DApps in the world mean little if nobody is using them.
If this is indeed "digital real estate", many chains are akin to owning land in a town with no people. At some point, this is going to be a problem.
The industry is still rather new to this concept. Most tokens are in the hands of speculators still looking for the moonshot. This is fine while those are the people who dominate. Nevertheless, it is the masses who are going to make up the value and, to attract them, so there best be something happening to garner their attention.
In my opinion, Hive is developing a very good foundation through which to meet this end.
For now, Hive moved up the ranks by passing Tron in the number of transactions.
We will see how things play out long term.
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