So a little while back, on the 10th of November, Uquid held a Twitter space addressing “The Role of Blockchain in Web3 Shopping”.
There were quite a number of guest speakers present; there were representatives from Magic Square, Nabox, Alpha Mobile, Kyber Network, and of course our very own Hive, represented by @crimsonclad.
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I had my earpods plugged in and listened to it while I got some chores done. Boy, did I learn a lot of new stuff. Usually I’m a little hesitant when it comes to talks on finance; I feel like I might understand the gibberish being spoken.
But by the end of the space, it's safe to say I discovered some details about Hive that I never paid much attention to.
Crimson held down the fort and represented Hive like the pro that she was. From her calm and collected demeanor, coupled with her excellent delivery, I could tell that she prepared well for that space.
She demystified Hive in a comprehensive manner and impacted some knowledge in over forty-four thousand listeners who were tuned in, including me.
I thought it would be cool to kind of reiterate some of the points she made on the benefits of Hive and relate them from my point of view.
Crimson’s Points
No Hidden Fees
Several money holding ventures, including microfinance banks, or normal banks, online crypto wallets, and even saving platforms, all have one thing in common. And it’s the annoying fees that they deduct from our account for useless reasons.
Banks in my country are used to this practice. You can’t even transfer money out of your account or make a withdrawal without being charged a fee. Then, every once in a while, they deduct little bits of money and give it a name like “Card Maintenance fee” or “Electronic Money Transfer Levy”.
What does that even mean?
Hive is different, though. In the sense that it gives users the liberty to navigate their financial transactions without charging fees. In the space, Crimson* refers to them as gas fees 😅.
Transfers or trades are conducted seamlessly, without the fear of deduction, and this makes Hive a more efficient alternative.
Universality and Practicality
Hive is tied to different countries all over the globe; Nigeria, the United States, the Philippines, Venezuela, the UK, Iraq, Ghana, and countless others. We have people from every corner of the world tuning into Hive and helping it grow in one way or another.
One factor I find that makes this possible is the convenience that comes with its usage. Crimson* made the statement “Hive blends into the everyday activities of people”. And no truer words have been spoken.
People earn rewards all over the world from playing Hive based games like Splinterlands and Craftink, among others. People make videos and earn Hive through 3Speak, Dbuzz, and the like. And of course, we share and curate blogs on Ecency and PeakD.
It is very practical to engage in these activities, and it is even more amazing to earn good money from them. This isn’t the case with other platforms; in fact, it’s quite unbelievable to come across platforms like ours.
Hive was built for Speed
One thing Hive is popularly known for is its speedy transactions. You initiate a trade or a transfer, and within milliseconds, your transaction is executed. It’s actually one of the reasons I love Hive as well.
But did you know that the reason for this has less to do with rewards transactions and more to do with other factors like upvoting, commenting, and reblogging?
Crimson expanded on the need for fast transactions on Hive because the ecosystem relies on speed and agility.
Imagine writing and preparing a post, only to send it and then wait for hours before it goes live. Or dishing out a juicy comment on a friend’s post and hitting the reply button, only to have to wait for 30 minutes for it to be sent. I reckon that would kill our morale and dedication to the platform.
Well, that is why it is necessary to have speed and scalability. So that Hive can function at its best.
Crimson did a thorough and excellent job of highlighting Hive’s strengths and functionality, and I hope I have been able to convey a bit of what was shared.
Image used is mine, except stated otherwise