There seems to be some confusion as to what Hive is. It looks like many are getting their signals crossed when it comes to what it exactly is.
Hive is a back end database that powers all applications that are built upon it. Thus, it is the front ends where all the action is.
This seems counter intuitive, but if one understands data structures, it becomes pretty clear.
Take Amazon Web Services as an example. Who are the users being onboarded to that service? Does anywhere here pay to be on there?
If one is a developer, perhaps he or she pays Amazon to use that service. The rest of us do so through our Netflix subscription. So, while hundreds of millions utilize AWS, most are not even aware of it.
The same thing is happening with Hive. It is why the idea of catering to the general public by promoting Hive doesn't make a ton of sense. Hive's growth will come from the developers who are drawn to it and the applications they provide. It is at this level that more users can be attracted.
Hive is a specialized blockchain. It is not general in scope like EOS or Ethereum. This provides some special features that make Hive more streamlined as compared to the others. Of course, since there is no smart contract capability, there are some limitations, at least at the base layer.
The Proof-of-Brain concept is one of the main features of Hive. This means that activities need to fit into the "box" to be used on Hive. Anything outside of that will be rejected unless wrapped in a Custom JSON which is basically ignored by the blockchain.
Thus, the blockchain (database) is accessed through front-end applications. Many started to take sides in the Hive-Leo debate which is absurd. It is apples-to-oranges. Leofinance is a front end that is tokenized. This is no different than Peakd or Hive.blog. The only difference is the later two opted not to offer their own token. Therefore, they operate exclusively in HIVE rewards.
Just like every new Netflix subscriber is populating AWS, any front end that adds a user is helping to populate Hive. They cannot be separated. If an application is tied to the Hive blockchain (database), then it is automatically pulling the data from there. Each time a user of Netflix clicks on a different film or show, the AWS network of servers are utilized.
Cloud operations spend a vast amount of money ensuring their servers are up to date and providing data transfers as quickly as possible. Nobody wants to be watching a film on Netflix and have the "spinning disc of death" appear right in the middle of the film. The same is true for accessing a website. We will not tolerate slow data transfers.
It is no different with blockchain. When dealing with decentralized data structures, people will show no more tolerance than they do anywhere else. Of course, the early adopters can be more forgiving but the masses will not.
When we consider the transactions that take place, mostly transfer of value, we encounter the reality of what is going on. Hive can promote the idea of fast and fee. At the end of the day, a peer-to-peer money transfer system is still just pushing data back and forth. The question is how efficiently? Obviously, with some of the other blockchains out there, the rate is not very good. We see how things are slowed down either by the technology or the network traffic. Whatever the cause, the results can be frustrating for many.
Take a look at the Top 20 listed according to Coingecko. Something interesting happened over the last year. Notice how the blockchains have dropped lower. It all comes down to what is being built upon them. At the top are Bitcoin, Ethereum, and BCash. The last, I surmise, is still riding its name. Outside of that, the rest of the top 10 has a lot of activity in terms of development such as Chainlink. In other words, there is development taking place that is solving problems.
Some are questioning what is being built on EOS and TRON. Both of those are out of the top 10. We will see if they drift lower.
At the end of the day, the blockchain is not of interest to users. It is the applications that are on there. Hive's success, like every other blockchain outside of Bitcoin, is depend upon what is built on top of it. Hive is one that is being structured to host layer 2 solutions without great difficulty.
This is where the value lies and what it is designed for.
If you found this article informative, please give an upvote and rehive.
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Posted Using LeoFinance Beta
Thanks for informing everyone who think otherwise.
#hive is the blockchain just like AWS in a way of distribution.
#leofinance is the application running on top of it.
#leo success is definitely #Hive success.
Good time to buy and hodl all.
Posted Using LeoFinance Beta
You've got it right with HIVE being the backbone of all blogging, posting and community sites as well as of different applications and games. The second layer tokens have the privilege to use an infrastructure that is improving continuously - HardFork 24 will be launched on 6th of October - and they bring to the table an additional layer over it to gain more value. It is the perfect communion so far as I see it.
Posted Using LeoFinance Beta
I can promise you this..within the next year there may be a great shakeout. Some of these chains provide no value to it’s users. Gambling, ponzi, etc. The Hive ecosystem is one of the few to actually allow a user to earn crypto.
Posted Using LeoFinance Beta
In all sincerity hive's value is underappreciated by all means and basically vwe can't just compare it's growth to the growth of other blockchains as well. We already have a solid representation of projects but then we need more to Push hive even better. Beautifully written
Posted Using LeoFinance
Agree. I think that was primal idea in Steem with Smart Media Tokens but than Tron destroy all. In a way this was a good thing because Hive is now cleaned up and going up this path as a basic infrastructure for decentralized apps.
Is there a place on the Leo front end to put a bookmark to your post?
Great explanation of the hive-Leo and other app or front end relationship!
Posted Using LeoFinance Beta
Thanks for putting it nicely.
Users has confused the "Blockchain" with frontend blogging platform.
Actually after joining Steem for 1 full year (maybe more) , I have no idea that Steem and Steemit.com are 2 very different things.
Outside of blogging via Peakd/Hive.Blog etc., Hive is powering layer 2 solutions, which means that it is not the backend, but one component to be used within the apps' backend. Example would be Splinterlands, where the actual code is being run on their servers and Hive is "just" being used as a decentralized db and verification mechanism.
It seems that quite a lot of people have the idea that blockchains are going to replace cloud providers, but I'd argue that even Ethereum, EOS and other SC blockchains aren't able to fully replace cloud providers; this will take far more time and I'm not even sure if that's what we actually want. A hybrid approach is IMO a pretty solid step forward.
And that hybrid is why blockchains claiming "decentralised" and "immutable" are actually celebrating falsehoods. It's more about the marketable buzz words to attract users. Which, evidently don't achieve the intended goal anyway.
I'm in agreement with you that hybrid is the only possible solution. I've always seen it at such and view Blockchain as maintaining "the DNA" or "nuclei" of systems. So I cringe when people say "censorship resistant" but they have no clue that all the data actually lives on servers controlled by centralised entities.
Only reason why it's not censored is because it's not actually disrupting in a way that say "conservatives on Twitter" are creating disruption against the status quo. However if there was to be a wave of influence out of these niches then the service providers would most definitely bend to higher powers.
IMO, the true Revolution of solution to truly immutable would be for each user to be the service provider. Where each user has fragments on the data stored on their home systems and by that contribution maintains a virtual entity of the system. Similar to how atoms exist by maintaining a digital signature of their energy expression and contribute to the virtual cloud which is then what is expressed as "physical" mass. Technology isn't there yet for that though. One would need a very large machine to provide adequate contribution to that mainnet. In the future a system of what is now a supercomputer will be in a usb drive and we could be nomads physically, but connect to our digital systems simply with an access point.
So my view is that these current Blockchains aren't that great. They're part of the development but the mere fact that they haven't replaced the old (for reasons you've pointed out) are why investment into these systems is not really moving. Money goes where gains are plenty. Obviously DeFi is that example. Speculation (gambling) though is predominantly that draw.
SMT promised much but delivered none.
Because... well, ideas are great in theory but we don't yet live in a virtual world. They need to be made tangible for their greatness to take effect. That's the other flaw here with Hive (and BC technology in general). Ideas for days. Little action for years.
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You flip flop so much taskman!
The other day you knocked Leo saying it can't outdo Hive and now you're saying Hive depends on those "dapps" like Leo to shine harder so that Hive can benefit.
Wtf guy.
I know you're the hype master here and as I've said I see you as the Spiritual Guru but anyone with some intelligence will see that these are conflicting viewpoints. This doesn't actually sell to investors, it inadvertantly creatures confusion and doubt of the strength of this operation.
Plus Hive is nothing like AWS.
HIVE only keeps records.
DATA lives elsewhere.
Thanks for your clear explanation of hive blockchain.