In cryptocurrency, the word "killer" gets tossed around. We had the Ethereum killers. Bitcoin killers. Hive killers.
Everywhere we turn, we see the "next great thing" popping up only to find it doesn't have much of an impact.
With that said, we also have the Web 2.0 killers. This is something that can be summed up by Web3. Personally, I believe this is the mechanism that will eventually replace the dominance of the present Internet platforms.
Of course, it will not be an overnight process.
At the forefront of this, in my view, is Hive. It offers true Web3 capabilities and it is only growing.
This is something that is very interesting to watch.
When it comes to microblogging, there is one name that stands out: Twitter. For more then 15 years, this is the realm it dominated, with few others offering anything close.
That changed in the past year. We saw this emerge with Facebook starting its own service. This appears to have failed miserably yet is still going. Over time, they might incorporate more features.
On Hive, we have a few initiatives moving in that direction. There was already DBuzz. This was followed up by Threads. There is also Ecency which provides this feature.
According to many project developers, the idea is to incorporate this into their applications. Here is where we see the potential for a great deal of disruption.
With Hive, it is not any one application that has to be watch. Instead, one needs to monitor the entire ecosystem. Due to the decentralized database, we see impact in a different manner.
By having microblogging offered through many applications, the ability to engage increases a great deal. It is similar to long form content. Once posted on chain, any of the applications can access the data. To engage, it makes no difference which front end people utilize.
It will be the same with shortform content. This, long term, could be a killer.
The key is that Hive has a wide range of social media offerings.
One of the biggest benefits to this ecosystem is the single log in. Since the data is housed on the blockchain, no application is in control of it. Unlike traditional platforms, one's Hive account accesses it all. The application used makes no difference in the ability to pull the data. All have the same opportunity.
Like most things, the game changer is a cumulative undertaking. A single application adding microblogging isn't going to alter the world. However, by offering it, we can see how this could increase engagement through that application. Even if there are a few hundred users, they will have the ability to interact in a different that.
That is a positive for the ecosystem.
We have to keep in mind that impact, in the digital world, is not linear. Instead, this is an exponential realm where each action can have multiple effects. By looking at it from simply a transaction point of view, consider what a single comment could do.
To start, it shows up on 5 or 6 (maybe more) applications at the same time. That means that each time someone posts something, it enhances the value of PeakD, Hive.blog, Ecency, and Leo. Anything that is posted to the database is accessible in a number of ways.
Microblogging is easy, quick, and can be done by anyone. Ultimately, it is mostly a reformatting of the comment system on Hive. We know comments can be helpful since they stimulate conversaion. Microblogging brings this up a level by making it even easier to express thoughts.
Here is where we get into the compounding nature of things.
Hive is a cooperative.
If we consider the Internet nothing more than a data factory, then we can pare all applications down to that. We know the social media entities are powerful because of the data on their servers.
With Hive, the database is the cooperative. Each time it is expanded, regardless of the application, that makes it more valuable. It also offers the potential for the network effect to occur. This is where the exponential nature of things occurs.
If a single activity has impact on multiple fronts, that means we are dealing with something that can grow rather quickly. Hive can take a major step forward with microblogging. This is where the end to feeding Elon Musk's database can begin.
The competition is between Hive and traditional social media. Actually, what we are dealing with is the battle between Web2 and Web3. This is something that is going to take place over the next 5 years.
We not only have a front row seat but also are actively engaged. Here is where we can make the change.
With Hive, the applications feed into the main database. This is where the true value resides. It is also what is going to make the difference.
To that end, it means we are responsible for feeding said database.
Microblogging is one piece of the puzzle that will help do this.
