Things are starting to get very interesting on Hive.
Over the last couple months, we discussed the idea of the Everything App quite frequently. This was brought to light by Elon Musk with his plans to turn Twitter into such a platform. Essentially he is describing the combination of finance and social media.
Naturally, this is right up Hive's alley. While Musk has to build out the financial features such as a payment system, Hive already has some of this standard. The payment system is build in since we offer peer-to-peer transactions. At the same time, there are some basic forms of decentralized finance already in place.
Since Hive's inception, we saw a number of different applications appear. Many of these became focused (niche) based upon the community. This was a move that made sense but, as things evolved, became less viable over the long term.
The major question is whether we will have dozens of apps on our devices in the future or wane that down to a couple that handle most of what we need?
If the answer is the latter, here is where we need to focus the attention. Fortunately, Hive can be looked at as the Everything Protocol.
Before getting into the details, we have to state that all of this is great for those who are holding $HIVE. As we evolve the ecosystem, any progress made by the frontends, regardless of which one it is, benefits those who have stake. The individual success might apply to the layer 2 tokens but the base coin will capture the value regardless of where it comes from.
This is the concept behind a cooperative. Under this realm, any advancement made by one entity helps the whole. For example, in a housing cooperative, if one person does external repairs, dramatically upgrading the property, this positively affects all around it.
Now take this example and push it out to the entire block doing the same thing.
Therefore, as we delve into some of the contenders, keep this concept in mind.
So who is in the race to become the Everything App on Hive?
This is an obvious choice because the project team has been using this terminology. Hence, it is safe to conclude this is the direction the team is considering.
Leofinance is a niche application. This is evidenced by its focus upon cryptocurrency, finance, and markets. On the surface, this might not be the best candidate since it is not general in nature.
That could be changing some since it brought out LeoThreads. This brought microblogging at the comment layer to the Hive blockchain. It is a concept that is being expanded as they rework their user interface, something that is projected to release by Christmas.
We gained some insight from this post:
Instead, LeoFinance becomes The Everything App. LeoFinance becomes the powerhouse of innovative features that our team is building. It becomes the home of Threads and Blogging - Micro and Long-Form - and it becomes the benefactor of all the rewards of network effects as we continue to scale this project.
So far, this is very good.
Then we have this:
My vision is that LeoFinance becomes the Crypto Twitter Killer.
Not Twitter Killer. Crypto Twitter Killer.
I think we already have an incredibly strong community of Lions. We have people who care about crypto, finance and other topics as well. We have people who love to create posts around these topics, love to read other posts around them, love to create Threads about them...
It's time to proliferate that and evolve into Crypto Twitter. Right here on LeoFinance.
This coupled with the endeavor into DeFi certainly makes Leofinance a contender.
This is a recent entry into the race but one that is worth highlighting. Like Leofinance, this is based upon a niche market. However, we can see the evolution of the idea behind the application.
The team just submitted a proposal for funding which everyone should take a look at. A key is the project is open source which could ultimately help Hive in many different ways.
We see some things from the post introducing the proposal.
Here is a snapshot of the plans for 2023 from the post linked above:
In reading through this list, we see a few major points. It starts with a new social engagement experience. Obviously, we have no idea what that means but whatever is planned, it is going to be built on Hive.
The key things that stand out are the full Hive blogging and integration into LeoThreads. We also see support for 3Speak shorts. This means that Actifit is looking at becoming a lot more than just a Move-to-Earn app. We see the bar raised a great deal.
Again, having another entrant into this race can only benefit Hive.
This is an application I personally am not too familiar with so I will be sparse with details. However, it is one that we see a lot writing about. The project team is obviously innovative, looking to take things to another level.
We know there are discussions to incorporate video to a greater degree. This is likely through collaboration with 3Speak.
Mobile is vital these days and Ececny is a mobile only application for Hive. From the start, this gives it a leg up since much of the world accesses the Internet through this medium. Ecency has consistently build on Hive and there is no reason to believe it will not stop.
Here is a standard for Hive.
So far, we heard little from the team regarding the Everything App concept yet we cannot overlook this front end. Simply because they are not revealing what they are working upon does not mean they are not doing anything.
PeakD belongs on the list because it is NOT a niche application. Like Ecency, it is a general use front end that allows any content. The team also showed the ability to integrate Hive features rather quickly.
The foundation is there for PeakD to be a strong player in this race. One advantage is the team is made up of people who are working with the Open Source Hive project. We know they are working on a new UI/widget for the Internal Exchange. This shows the talent is there to incorporate a lot of useful features into PeakD.
This is a new application that is on the list based upon some knowledge about the team's plans.
Veews brought a new level of content discovery to Hive. This is something that makes it stand out. We also see the evolution of content distribution as more features are added.
Is there where the project stops? Not likely.
At the moment, other than commenting and upvoting, Hive features are lacking. However, that is going to change with time. Without knowing all the details about where the team is going with this, it is hard to provide specifics. That said, we will likely see some of the standard, base layer features integrated into the application.
Where this has power is in the ability to attract content consumers. Hive generally appeals to content creators for obvious reasons. So far, there is little in the way of Web 3.0 for those who consume what is created on here. Sure, we could say that curation does part of this but we know how that isn't the case for most.
Due to this, there is a strong change that Veews can reach outside the Hive ecosystem. This means we could see hundred of thousands of monthly users. Keep in mind, the application it was modeled upon had 25 million users. In the world of social media, that is niche. However, when it comes to Web 3.0, it is a number we really have no seen before.
This one is trailing in the race since it is so new. As stated, there are a lot of basic Hive features that are not implemented yet. Since the application is less than 3 weeks old, perhaps we should give it some time.
Here are the entrants as I see them. Are we missing any?
The idea in the future is that social media and finance will not be separate. This is something Musk sees yet he is still trying to do it on Web 2.0. Ultimately, this means he is simply a different dictator taking control of people's accounts and data.
Web 3.0 is at the core of what we are discussing here. For that reason, as the infrastructure evolves, we need to see applications built that access it. This is where the race comes from.
At the moment we are in the early stages. A lot of work is being done to provide the kickass application that can serve most of the needs of people.
On Hive, there are a number vying for the title.
In the end, all of this is of benefit to those holding the base coins.
What are your thoughts? Let us know in the comment section below.
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