From User Generated Content to User Generated Capital - Sound Familiar?

in HODL11 months ago

Does it sound more attractive when it is stated like that? I guess so, at least it got Akons attention.

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Well the above headline refers to Roll, a blockchain infrastructure for social money, basically we can liken it to Hive engine in terms of tokenization. It is powered by Ethereum and allows any creator to mint ERC20 tokens to develop an economy within a community.

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Granting creators the access to easily mint branded ERC20 tokens that could represent their platforms and be used to reward community unlocks the potential of social money for many use cases, Roll lets each creator have the freedom to determine the rules within its social economy, empowering them to create the business models most suitable to the interest of their community
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Roll provides its users with tools to mint and distribute tokens to already existing community members. On the outside, it could seem like Roll already accomplishes the role of Tribes on Hive, but on Ethereum, however there are few things that make Hive's Tribes stand out. These few points are not to put one platform down or above the other, they are simply my opinion.

DeCentralization
Everything that takes place on Roll happens in an app, it speaks centralization, but who am I kidding, Hive-Engine also has its own speck of centralization except that there are talks of making it decentralized going on, this is to avoid having a single point of failure and improve its security.

Interface
As said above, everything that happens in Roll does so via the app, hence there is no generic frontend like on Tribes which models the Hive.blog interface or that could be customized to suit the creators taste as on Leofinance. So users might have to get their custom made frontend to showcase their creations.

Distribution
It is safe to say that Hive has the most sophisticated means of distributing tokens in all blockchain through its upvote mechanism. On Roll, tokens are minted in a secure way through a smart contract and distributed by utilizing a link-based system to make sending social money to anyone as simple as sending a message, right.

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It is interesting that the world is slowly recognizing the impact web 3.0 can have on any social economy and are building pathways to tap into it. It is however obvious how Hive as an underlining infrastructure shows in many ways than one how it is capable of seamlessly scaling at large, coupled with its fast and feeless transactions and also presents people with the best tools for it.

"From user generated content to user generated capital" does make a lot of sense when put like that, it totally describes the idea of content creation in web 3.0 and the transition away from Web2.0, as more players delve into the space with different tokenization props and algorithms then more avenue will be created for the influx of the masses.

A site owner or personality might have multiple tokens to his name, imagine the owner of Leofinance dabbles into the props of Roll platform and creates an ERC20 token, users of Leofinance will automatically earn Leo, Hive and HBD tokens, plus any other token that is relevant to the created topic, they will also earn ERC20 leo tokens for doing basic things specified by the token creator through Roll. The era of abundance really is upon us.

As time goes on and more platforms pop out to "claim" to be content publishers with "revolutionary" reward mechanisms, what we've seen so far is that most fail to offer the capacity to be censorship free. This is another category where Hive excels, censorship as it is should be gone with web2.0 and its tenets.

As more developments come forward to challenge the idea of Web 3.0, tokenization of the web as an idea shifts closer into reality. It will be interesting to see it all unfold.

Thanks for reading.

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This is a great find as well as being an excellent example of what is taking place out there.

However, I want to point out where Hive has the distinct advantage.

To start, Hive is much further along and continually separating itself. There are a lot of people working on different aspect of this entire ecosystem. This means that innovative ideas come from areas that are not offered through a centralized application. Even the UI is different since Hive has so many different ones.

There is also the fees. We keep harping upon this but it is consistently being driven home. Do I need ETH to upvote or post a comment? Each time I want to send a tip, I have to pay a fee. On and on it goes.

This, in my opinion, really stifles innovation since it limits what developers can do.

Posted Using LeoFinance Beta

Very valid point. It also reminds me about when I wanted to trade my BAT tokens, due to Ethereums high fees at the time, the cost of fees was more than half the profit. It truly does bring limitations to what people can do, compared to a fast and feeless tech that Hive has created.

Posted Using LeoFinance Beta

It is something that few think about until it hits them.

Many of the applications built upon blockchains with the fees are going to feel the pinch since users will not like giving up, as you stated, half the profits.

Posted Using LeoFinance Beta