I got into a banter on Twitter with someone who claimed to know Hive and why it won’t scale for mass adoption. His winning argument was that people needed to pay to use Hive due to the requirements for Resource Credits, he thought he won the argument and I didn’t engage further because he obviously didn’t know Hive.
The Actual Community
If he knew Hive, as he claimed, he’d know that when we talk of Hive, it is not an entity, it’s a community, and as such, people and applications do the onboarding of new users into the community, New York is not an entity, the community, the offices, businesses make up New York and these business do the onboarding by offering services to other people and businesses. They do the marketing.
This is the same for Hive, the members of the community make onboarding easy by using their accounts to create new accounts and delegating required resources to the new entrants accounts, also, applications make onboarding easy, by offering easy sign ups and providing required resources to the new users.
This is what my man failed to understand or factor into his argument. Take Splinterlands for example, Splinterlands is an application on Hive, it onboards new users through easy sign up process and provides required resources when new users pay for Spell books. Now, Leofinance is taking the whole onboarding game up a notch. With the marketing proposal almost being passed and funded, Hive is set up to receive a ton of new entrants.
As soon as people get to the sign up page on Leofinance, they offered several sign up options which include, Twitter and gmail which almost everybody on web2 has. Leofinance also has plans to build a pool where they’ll be able to delegate appropriate amount of resources to new accounts who sign up through the sign up page. This is the future of Hive.
Actual Censorship Resistance
Another thing I’ll like to mention is that many people think Hives only unique ability is its monetization, the presence or absence of it, which is very wrong, it’s the community, and it’ll continue to shape itself and adapt to patterns that pave way for its success, Hives one true power is its community, next to its censorship resistant, hear me out, in the past week, Elon Musk took the @X Twitter account from its user who has held it for over 10 years, and yeah, it’s been happening as such without permission, to be honest, that stinks for someone who heralds freedom of speech,
similar stuff is happening on YouTube, people keep loosing their accounts for vague reasons, but Hive fixes this, but when you tell people this, some will cite examples of accounts that were downvoted and say yes that’s censorhip, meanwhile it isn’t, if an account is being downvoted for malicious reasons,
the worst that will happen to the account is the social stigma, the account owner never looses the account, a separate front end will very well display anything the blockchain allows. Ofcourse this can have both positive and negative implications but when we get faced with the negative’s we will pragmatically implement necessary solutions that will be in line with our belief system, ideal and understanding of the situation as a community example, Justin Sun Hostile Steem Takeover.
The community banded together to defend the chain from a hostile takeover which resulted in forking out malicious actors. A decentralized censorship resistant community doesn’t get better than this which is in full contrast with what we have on Web2 today.
Unique Monetization Model
The third unique feature of Hive I’ll like to talk about is Hives monetization, I’ve written extensively on the comparation between Hives monetization and other Web2 like Twitter, personally, I have a nag for unique features, there’s nothing close to Hives monetization system in the entire crypto, look at Ethereum and Bitcoin and how many of their forks exists, doing basically the same thing, except Steem which it forked out from and other forks of Steem which are now a ghost town in terms of development and usage, one has got to ask, why is a blogging system like Hive not on Ethereum or Bsc? Or Bitcoin and are actually decentralized?
Hives monetization is a beautiful unique system that fosters and sustains the community, inside this monetization feature is it’s distribution model through upvotes surpasses any other system out there by a long shot.
The upvote system of distribution ensures a wide spread of the token into several hands, some argue that too many people sell this token and cause downward pressure on the token but it’s not exactly correct because many people also stake the tokens they earn and the more people realize the value in the token the more they want to hold.
My issue was that how was I suppose to explain this to someone who wasn’t interested in knowing? I didn’t even have the strength to jump into my arguing fit.
Posted Using LeoFinance Alpha
I guess he wasn't that open minded or didn't realise that the chain has progressed by a good measure. The unique monetization model that helps distribute tokens is probably unheard of in the crypto space. In a way, Hive is ahead of the times :)
Yeah he was probably judging from what Steem used to be. Ah ah. Many Hive OG’s use that word. You’ve come a long way my friend. This is it.
I guess it's good to update the information we had as things are constantly changing. Maybe, I'm getting more familiar with the ecosystem :)
I wonder how you feel knowing what other ecosystem entail
Read how this all have started with Toruk
Yippee yayyy 🫡
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