There is a lot happening in the cryptocurrency space. Unfortunately for many, it seems like Hive is overlooked in all of this.
Here is something that we need to start out with: this is a marathon, not a sprint.
It is easy to believe what we see in 2021 is how it will be in 5 or 10 years. That is not the case. For those old enough to remember, there was a time when the Internet world was dominated by Prodigy and CompuServe. After that it was AOL. Where are those companies today?
Things has a way of taking many strange as well as varied turns. Those with foresight, agility, and dedication can often "come from nowhere" to completely change the outlook of things.
Here are some of the reasons why I am bullish on Hive long-term.
Hive Application Framework
This is something that gets a bit of attention but after our conversation with @blocktrades, it is evident this is a huge deal.
Ease of use is vital. This is something we discussed for years in the cryptocurrency industry. It was applied, however, to the user experience. Few of us took the time to consider the lack of friendliness of blockchain to developers.
The Hive Application Framework addresses this. It suddenly opens up application creation to any developer out there. No longer will these individuals have to know blockchain or how manage it. This eliminates the need to understands C++ or Solidity.
Under this situation, all blockchain changes are handled by the experts and fed into the HAF. That is constantly updated so that application teams only need to focus upon integrating into that. They do not have to be concerned that a change at the base layer will disrupt their application. Instead, they can know that whatever is coming out of the HAF will have all the modifications.
We are also going to see flexibility in what data is pulled from the HAF. Developers will be able to configure the tables exactly how they want instead of being subject to what the blockchain is coded to deliver.
As it was explained, essentially if a developer knows how to interact with databases (which they all do), then he or she can utilize HAF.
This is a layer that is novel in the blockchain world. It will make Hive one of the easiest to develop upon.
Applications
Here we could have split this up into many different sections. Nevertheless, we will put it all under one umbrella.
We see a lot of development on a blockchain like Ethereum. At the same time, we know there are other chains that get a lot of hype and attention. That said, what is really being done on them?
There are a number of applications that can really make a huge impact upon the industry as a whole. We are already seeing @splinterlands forging ahead, becoming one of the top games in the Play2Earn category. They recently did an upgrade to ensure greater scaling in the future.
Just to give us an idea of how things are moving, here is a chart from @penguinpablo's daily report:
That is a 10x in the number of daily sign ups in a month. We see the numbers go from a few hundred a day to 3K-5K. Now we are seeing a jump from there.
But this is not the only fish in the pond as they say.
There are two others that I want to highlight that we are all familiar with.
SpkNetwork by @threespeak and ProjectBlank from @leofinance are projects worthy of mention.
The first is looking to build a platform that ties into Hive in a way previously unseen. While most concentrate on the decentralized video storage, we are seeing an ecosystem of DeFi, NFTs, image hosting along with liquidity pools. The most exciting part is the Service Infrastructure Pools (SIP). This should excite everyone who is holding any Hive. Here is a pool where all tokens are paired with Hive. Anything purchased, either miners or advertising, will require the use of Hive.
What is truly revolutionary is that the Hive will be locked up, effectively taking it out of circulation, while also using it to generate cashflow over the long term.
If this protocol becomes successful, a lot of Hive will be locked away.
Jack Dorsey is making headlines with his talk about Bluesky and decentralized social media. This is something he mentioned a couple years ago and now finally named someone to lead the project.
It is obvious Jack thinks rather highly of Hive. Anyone who is active on Twitter promoting the applications on here realizes this. It appears there are shadowbans for many of us. To me, that would seem like Jack knows this could botch up his plans.
Enter #ProjectBlank.
This is an application that was developed, then scraped due to technical issues. For that reason, entirely new infrastructure is being written to bring it to light.
What is ProjectBlank? Think Twitter on the Blockchain.
It will bring microblogging to Hive in a way that mirrors what people are accustomed to on Twitter. The major difference is that there are no shadowbans, accounts cannot be closed, nor can people be censored. In other words, all aspects of blockchain that we promote as benefits will be integrated.
This is something that I am sure Jack's system will not have.
Many were excited about this project and see the potential. The key is getting it out. Alas, development takes many turns. Nevertheless, we were assured this one would be rolled out before the end of the year. Before that happens, a couple other pieces need to be implemented first.
There are many other things in the works, especially in the area of gaming. All of this is providing the future users of Hive with a lot of options.
Community
This is, of course, something that gets overused. Every blockchain talks about its wonderful community.
The difference is that in Hive's case, we know where many here stand. The situation early last year split the existing community. Those that are dedicated and working hard on Hive formed a powerful bond. We might squabble with each other but God help you if you attack us. The ability to set our differences aside and unite is already on record.
Being an underdog also has advantages especially when that mindset is ingrained in people. People on Hive know we are not the most publicized blockchain. Nor do we have the most money. Thus, we realize that our successes is going to come from scratching and clawing.
Fortunately, there are thousands here showing up each day doing the little things to move forward. We have people working on SEO to help draw in organic traffic. There are ones who are all over social media in spite of being targeted, getting the word out. Many are commenting and providing content that will appeal to outside readers. Still others are developing applications or project that only enhance the overall offering of the ecosystem.
Certainly there are people elsewhere who are doing similar things. However, it appears that many on Hive did truly adopt the ownership mindset. They truly feel a responsibility for the direction we are heading in. This means each of us doing our part.
Sure it is easy to point to the whales leading the way. Yet, here we see this mindset in people who have much smaller stake. They, too, adopted the same premise.
For this effort, many in the community are being rewarded. We have people who showed up here with nothing but a keyboard and a smile. Today, because of their active support of, say, a @splinterlands, they are finding their financial futures radically altered.
How many other ecosystems can make this claim? If one has resources, there are plenty of options. Yet, for the person with nothing to start, outside of Hive, the choices are a lot more limited.
A big piece of this is the fact that the community truly only gained control 17 months ago. While there is the legacy from the genesis block, the community spent years watching a lot of tail-chasing. That does not happen anymore. Throughout the entire system, new things are being rolled out and progress is being made. For now, a lot of it appears incremental to the user but much progress was made from the infrastructure perspective.
I have the image of "Vision 2025" at the end of my posts. This is a reminder to keep the long-term view. As stated, it is a marathon, not a sprint.
Naturally, there is a lot more taking place on Hive right now. What are your thoughts? Share with us the things that make you bullish on Hive. Put it in the comment section below.
All of this is my personal opinion and not financial advice. Always do your own research in financial matters.
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