Think of the blockchain as the gas pedal of a car and the smart contract as the foot, that is what allows it to take off.
It is simply code that is programed telling the blockchain what to do. Hive engine has smart contract capability. That is what allows the creation of tokens, tribes, and NFTs.
Ethereum DeFi is all smart contracts. Tokens are locked into them and only released per the code.
In Ethereum, that is at the base layer. For Hive, there are none at the base layer but it is a layer 2 option. H-E uses it and there are other projects like DLUX that are writing code for one also.
Hive is very specific about what it does: posts, comments, token transfer, account setup, etc. A smart contract allows for more dynamic development.
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Perfect, thank you. That clears things up quite a bit for me. I really appreciate it.
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No problem.
I am not technical expert either so I muddle through as best I can. I try to take what little I can garner and present it in everyday language that everyone can understand.
It is not easy but a lot of this stuff is really telling as to where things are going.
If more people paid attention at this level, they would realize what is happening with Hive and how much improved it will be.
We are truly only 10 months into this thing. This is still first year stuff with a lot of people running the show before who basically screwed it over.
This is improving a great deal from what I can see.
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It is definitely encouraging to hear that they are finishing up this project and getting ready to move on to new things. I should have known better, but it is very easy to sit back and feel like things aren't happening when all of that stuff is going on behind the scenes. I often spend much of my day making adjustments behind the scenes that my end users don't see, but overall it does impact their user experience.
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The fact that they are finally able (or soon) to move on from the major overhaul of Hived is vital. This means that users could see some more updates as opposed to it being behind the scenes. There will still be a lot that users do not notice unless they are really looking but it will be mixed in with other updates.
It is all starting to come together.
The team tending to the core code really one was at it for 10 months. So we have to give them some time.
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