The road of a thousand miles starts with a single step.
In other words, we have to start somewhere.
Earlier this week, we saw the Metamask sign up feature added to the Leofinance interface. This streamlines the sign up process while allowing people to utilize Leofinance via an Ethereum wallet.
As we know, coming to Hive can be a daunting proposition. There is a lot to learn when one is new, a fact that could be turning people away.
Getting people active without having to mess with the different keys is a major leg up. Of course, the user always has the options of claiming his/her account along with the keys.
This week, we also had the first success story. An individual by the account name of @tin.aung.soe joined the Leofinance platform via the Metamask sign up process.
The introduction post can be read here:
@tin.aung.soe/introducing-myself-on-leofinance-by-metamask-signed-up
Here we are seeing how the feeder system is being established for Hive. Leofinance is not separate from Hive since all posts end up being sent to the blockchain.
What is interesting about this situation is the same person put up a second post detailing how he was able to add some HIVE to the account and power up.
Here is the entire post:
@tin.aung.soe/introducing-myself-and-hive-power-up-in-hive-blog
With 50 HP, this individual has all the Resource Credits required to interact however he sees fit. I cannot state what the inclination to buy Hive was in this case, but there was another 50 HIVE taken off the market.
Obviously, 50 HIVE is not going to make a major difference. A lot more is needed. Nevertheless, if this process is repeated hundred of thousands of times across dozens of different layer 2 applications, we can see how the demand for HIVE jettisons upwards a great deal.
All along, it was stated that the value of Hive comes from the activity that is taking place. For this to occur, we need development to provide the tools that offer users features they will use. Once the user is in place, Resource Credits are required which could cause some to buy the token.
Some might buy 50 HIVE, others might purchase 500 or 1,000. At the same time, if one is willing to power up 50 HIVE, any additional earned will likely be powered up too.
This is the value of utility tokens. As the user base grows, the demand increases. On Hive, some HP is required simply to interact. This is something that cannot be avoided. Thus, either the user or the application is going to have to provide enough for the person to get started.
Recently, a target of 40,000 users for Leofinance was set. This will come through a variety of outreach programs including the ability to have a multi-chain interface. Since all that takes place on Leofinance.io feeds back to the Hive blockchain, the benefit to the entire ecosystem is obvious.
A user count on Leofinance of 40K is the same added to Hive.
Together we all grow.
If you found this article informative, please give an upvote and rehive.
gif by @doze
