What HIVE Ecosystem Should Learn from Its Most Successful Projects | Front Ends, Games, Tools and Marketing

in LeoFinance3 months ago

HIVE DAPPs are extremely unlikely to be stuck in a zero sum game (at least in the eyes of a $HIVE investor). Each DAPP and each success builds more users + utility to the blockchain. Even if two projects aim to do the same thing, the completion can push both projects to do better and due to the open source nature of large part of the code, other projects can simply copy the success of winners and become stronger.

I am of the opinion that HIVE ecosystem is not emulating LEO enough. LEO Power UP day is a lessons learned from HIVE Power Up Day. It is a good way to keep larger and larger portion of the Token staked resulting in a reduced sell pressure and a lower circulating supply.

There are only a handful of projects that are incentivizing staking through events such as HPUD or LPUD. @splinterlands had figured out a way to include SPS staking as a part of gameplay by creating a Rewards Multiplier. The upcoming Soulkeep will require SPS staking to have better earnings. The support page already has some information available about the game.

HIVE is Special in Many Ways

HIVE is arguably more decentralized than BTC. We are not controlled by a handful of mining pools. Mining equivalent of HIVE does not favor a small group of investors who have access to cheap electricity and/or hardware manufacturing at a low cost. We have already demonstrated very clearly what would happen to a attacker who will try to buy the blockchain. Justin Sun had became a guinea pig infront of the whole world when he bought Steemit Inc. and convinced centralized exchanges to vote with the funds of the users.

HIVE has improved after the attack by requiring Powered Up stake to be 30 days old to be counted for governance voting. What we have on HIVE is a blockchain that is extremely resistant to outside forces of centralization. DAPPs can build and grow on HIVE and experience a large group of users that are ready and willing to experiment with many projects and write about them on the current best decentralized social media project on the planet.

Vampire Attacks as described above were ultimately good things for Ethereum. Due to the nature of HIVE blockchain, all DAPP users have to get their hands on Resource Credits leading most users to become HIVE investors with their assets locked up for 13 weeks. The question is how Ethereum managed to attract a large number of developers! The DAPPs can end up attracting more users to the platform.

HIVE Accounts Within The Last 7 Days

These statistics are provided by @arcange everyday. Follow him to stay updated. There are two publications made with one of them specifically focusing on financials of HIVE. If you take a look at the numbers provided above, @leo.voter and @dbuzz rank at top on every single day. This has been a trend for a long time. @steemmonsters has slowed its growth now and @ecency is in the middle in terms of performance. Some of these projects are supported by DHF and others have unfunded Proposals.

Currently only 11.49% of the Daily Budget is being used. Out of the three projects mentioned above, one @leofinance is receiving funding. I have repeatedly stated that [we are using DHF wrong!]((https://inleo.io/@vimukthi/we-are-using-decentralized-hive-fund-wrong-) There is no value in HODLing $HBD that is going to have its value eroded through inflation.

We need to use DHF to onboard more users and developers and make their experience on HIVE easy. When there are tools and tutorials easily available to build on HIVE, there will naturally be more developers. When there are more developers, it becomes easier to find users that love at least one of the DAPPs. If we focus on marketing and growing the userbase of HIVE as what InLeo has been doing with the tiny budget they have been given, it could lead to more developers joining because there is a large communities. At the moment, HIVE as an ecosystem is not doing enough.

If It Works; Do More of It

Creating a flywheel effect has made blockchains such as Ethereum and technologies such as EVM gain tremendous momentum. These technologies are unstoppable for the time being. We have seen what little funding can do for @leofinance @dbuzz @ecency and their efforts should be scalable to 1000s of new users per day without a large increase to user acquisition cost. If HIVE wants to thrive in this short window of a bull market we have got for 2024 and 2025, we have to double down on the things that have worked out for us and expand.

HIVE was not built for games. After @splinterlands became a major success, there came many other games and Invennium is going to make it easy to build games and launch NFTs on HIVE. Everyone on HIVE should try to learn the best lessons from the past and use them to spearhead future growth.

Happy Investing! Happy Developing!

Posted Using InLeo Alpha

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Upvoted and Reblogged, nice post!

Posted via D.Buzz

Thank you!

Thank you for the mention @vimukthi

You are doing amazing work! You deserve more recognition.
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Excellent post that understands the potential of HIVE. HIVE in Italy still remains a little-known blockchain. Perhaps because it is not open to centralized exchanges. The HBD was found in a few centralized exchanges, including Bittrex, which unfortunately closed. The time of mass deployment for Hive is yet to come

@terablock-hive is working to help with buying HIVE for with fiat: https://hive.terablock.com

There is a https://v4v.app already working that allow conversion between HIVE and BTC on Lightning Network. There are SWAP assets on HIVE-Engine for many of the popular cryptocurrencies. These are not complete fixes for lack of centralized exchange support. At the very least, the barriers are coming lower.
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Thank you for this thorough answer. All very interesting.

You are welcome!

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