Hive Better Than Lightning (Sh*t) Network

I propose what they've built in Lightning right now is a "shit-network" -@brianoflondon

Many of us feel that Hive is an overlooked gem. As the tentacles of the system expand, we are seeing how the blockchain fares against what else is out there. While it is still early, it appears that Hive is more than holding its own.

Does the best technology always win? No it does not. However, if all else that is out there is failing, it is hard not to stand out.

Most on Hive, by now, are familiar with @podping. This is a project that is potentially putting Hive at the core of Podcasting 2.0. We also see the #Value4Value protocol being built. Here is where Hive seems to be going head-to-head with Lightning Network.

Both of these projects are being spearheaded by @brianoflondon.

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Failed Transactions

How often did you have a transaction fail on Hive (the base layer, not layer 2)? Yeah, not often. There are times nodes are an issue but that seems to be rare these days. For the most part, it just keep chugging along.

This is not the case with Lightning. In fact, it appears to be a flaw built into the system.

In a recent post, the problem was spelled out like this:

You can only receive Lightning when you have a computer connected to the internet and running properly with good connections to the rest of the Lightning network and the correct distribution of capital in those connections. If you have 5,000,000 sats in channels but all the sats are on your side of the channels, you can't receive anything.

Not being an expert in this area, it also raises concerns about security. Could the channel be hacked since it is not technically at the Bitcoin blockchain layer. If anything, it is adding another area of vulnerability, something that Bitcoin excels are removing.

To further clarify the problem, we see this:

Imagine if you could only receive email if both you and the sender were online at the same time and you had anticipated that sender trying to send you a mail and lined up the right pipes to connect you both. This is the Lightning network liquidity issue.

That certainly sounds like a design error. It is one thing for nodes to cause transaction problems when they are not working properly. However, when Lightning is operational, there are problems. In other words there is nothing to fix if there is a design issue.

Imagine payouts on Hive only taking place when one is online. We know that is not the case as tokens (HIVE/HBD) flow into the wallet at anytime and are ready to claim when one logs in. If Hive used the Lightning format, the tokens would only be received when logged in.

It is suggested to read the full article to grasp what is taking place. It came be read here.

Hive's Longevity

We have another part to the equation that is brought into question:

One of the complaints thrown at me about Hive for @podping was that it won't be around for the long term. Of course I don't know if it will, but I can say absolutely that Lightning is not a sure thing at this stage either.

That is being rather diplomatic.

We are going to take it one step further and state with a high degree of certainty that Hive is going to stick around. Why can we make this claim?

To start, there are enough people running nodes who have the "ride or die" attitude towards Hive. They will keep things going until there is nothing transacting.

The second reason, and more importantly, is node validators (Witnesses) are incentivized to run their nodes. For many, it is a money maker. As long as that is in place, people will step up and keep their nodes in operation.

We are approaching 6 years worth of blockchain data since the genesis block. That is a long time in the cryptocurrency industry. While that does not guarantee another 6 years, it is longer than Lightning which had its first transaction, according to Wikipedia, on May 10, 2017. Interesting that it was tested on Litecoin as opposed to Bitcoin.

Hence, if longevity is being questioned, then it is Lightning that could be at risk based upon time in operation. Also, we have to keep in mind that Lightning is a layer 2 solution, it is not at the core level. Hive transactions, obviously, operates at the base layer.

That is not to say that either is going to disappear. However, many like to insinuate that Hive is nothing because it is not Bitcoin when the case is easily made that neither is Lightning.

Hive Is Resilient

As stated, many overlook Hive. It is easy to do since this is not hyped nor is the token on fire.

That said, we know what we are doing here is a more sustainable option. We are building, creating a system that is robust. This makes it more resilient to outside attacks.

It is ironic that this is the same discussion people often have with Bitcoin. As time passes, that network (blockchain) gets more resilient. With Hive, we are seeing a similar path being followed.

We also see another factor that is rather unique when it comes to Hive. As the community grows, the entire ecosystem is strengthened since the DPoS is enhanced by more people. For now, we have a lot of diamond paws that are helping to keep things sustained. However, as more find the value here and what is taking place, they will want to start assisting in the process also.

The latest situation with Podping and #Value4Value shows that Hive can go toe-to-toe with many other systems out there and hold its own.

It is hard to argue that Bitcoin was not a unicorn, a network that caught a moment in time. For that reason, it is hard to argue against the base network long-term. However, like anything, layer 2 is always a different matter.

Perhaps we are seeing a second coming with Hive. The dance with Justin Sun caused a major shift in how the ecosystem operates. We moved the vulnerability (ninja-mined stake) to a DAO which is helping to enhance development of the system.

While it is not ready for primetime at this moment, we could be seeing the foundation placed for a very powerful system down the road. Podping and projects like that are showing the value of what is here.

All the while, the resiliency of Hive just keeps growing.


If you found this article informative, please give an upvote and rehive.

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46 comments
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Time tells it all, I could feel the intensity in your writing. I've not been long for a long time but you and others have put in the work and reaping would come.

It's not easy getting far ahead but hive has a strong root and as you've said it has much resilience which would stand the test of time and prove that hive isn't worth ignoring.

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pixresteemer_incognito_angel_mini.png
Bang, I did it again... I just rehived your post!
Week 95 of my contest just started...you can now check the winners of the previous week!
!BEER
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I believe that as each day passes so is the hive blockchain progressing which I don't want to in anyway think negative about the platform. The impact it has distributed is incredible and tremendous wfuchbi believe more positive features will happen to promote the blockchain to another level.

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I can't believe they are still trying to make that a thing lol I took part in it years ago and quickly realized how flawed and dumb it was. Then alt coins started to take over and show all the falts of bitcoin. Bitcoin simply can not be used for small transactions. To me bitcoin is highly outdated now and will be replaced within a few years.

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Well Lightning isnt Bitcoin which is a benefit plus a problem. Lightning can handle the smaller transaction since that is what it is designed for. However, it has to work.

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There is one major problem with Lightning. It's centralized while Hive is not. Another huge problem is liquidity as mentioned by @brianoflondon and he found a really smart way to solve it with Hive. There could be so many use cases of this outside the podcasting world.

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We will see how it all unfolds. There is a lot more that needs to be done. As he commented in the article, this cannot run exclusively on Hive (at least not yet).

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Hive is far better I believe because you get in touch with different people along the way

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It's hard to forget just how small we are sometimes. If you are a regular user, you hop on and you see all of the new posts that are coming in every second. If you are really dedicated, you basically live on Hive (at least it feels that way for me sometimes). Then you take a step back and realize just how small we really are in comparison to some other chains. It's crazy to think what it will be like when that isn't true anymore.

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The biggest barrier to Hive right now is onboarding. If we can solve that issue and get some of these silly tribal vote wars to subside, then I think Hive can and will be here for the long run!

The onboarding barrier is an issue in crypto as a whole, but with Hive, it’s really a issue. @roomservice basically gave up with the hiveonboarding site because of the higher whales not wanting to support onboarding of new members. The account creation token situation is a big issue in my opinion. And it’s not just my opinion either, many feel this way. I though the leo team had it solved but they won’t share that with the rest of the Hive developers, so did they really solve it for Hive? Or just for leofinance?

As far as payments, in absolute agreement. Lightning network is garbage and more confusing than Hive onboarding, lol. Hive is built on community and this is a strong one as well have proven. Hive isn’t going anywhere. Most people are too tied into worrying about the price and it’s place in the marketcap ratings which really don’t mean a thing about fundamentals

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I though the leo team had it solved but they won’t share that with the rest of the Hive developers, so did they really solve it for Hive? Or just for leofinance?

Not sure it matters if they are getting Hive accounts. Someone can simply sign up through there. Plus they have #ProjectBlank coming out, hopefully by mid-year which will onboard a lot of general purpose people.

But you are right, onboarding is a challenge.

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I get what you are saying, but what if they want to join through one of the other communities? It’s not so easy. Maybe if project blank ever becomes a thing, we will see. Onboarding needs to be simple for the entire ecosystem instead of having all kind of different free or paid options. It needs to be streamlined. Maybe the HAS team can figure out something simple for people to use.

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The biggest barrier to Hive right now is onboarding. If we can solve that issue and get some of these silly tribal vote wars to subside, then I think Hive can and will be here for the long run!

That's true. I've lost count of how many people I tried to onboard and couldn't because they gave up in the middle of it when they faced all the complexity.

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It’s honestly the only real barrier we are facing right now. After that, there is really no stopping it.

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I am actually happy so far with how transactions happen on Hive blockchain.

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Well, you're right, transactions are flawless on Hive. That is for sure. Bitcoin and Ethereum especially, are just a no go zone for transactions in my opinion. Even with the lightning network. And indeed Hive is not hyped, nor is under scrutiny, but I still would love it, if it got hyped. Some day it is bound to be, some Elon or other crypto lover on Twitter must at some day discover this rough diamond, which is getting shinier by the day!

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Not being an expert in this area, it also raises concerns about security. Could the channel be hacked since it is not technically at the Bitcoin blockchain layer. If anything, it is adding another area of vulnerability, something that Bitcoin excels are removing.

The security of Lightning and keeping it to be zero-trust even when your funds are all tied up in multi-signature contracts with other channels is where 95% of the effort in Lightning has gone. And other than some edge exploits that have happened, I'd say they've pretty much got that right.

However, every single piece of software I've seen on the Lightning Network calls itself Beta and warns that all funds are at risk :-)

Privacy is the other area they've worked on and they've done pretty well. There is room for improvement but right now its good. I would say that Lightning would make a pretty amazing money laundry system if only you could move significant sums through the public network (which you largely can't).

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Well, in the field it shows who is really superior, I think this will be vital in the near future when Hive will be more and more recognized.

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The bigger question is also about the use case. I wonder how many people are making use of the lightning network for the smart contract. And the thing is these days unless a chain has a use case it is not worth it. Hive has the most use cases so it wins by default.

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A lot being built on Hive. Not sure what is being tied to the Bitcoin network. Lightning has a place if they can get it to work properly.

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I didn't realize that it was so much of an issue. I thought you would just be able to write it to the chain and the rest would catch up whenever they got back online. I like Hive because transactions tend to always go through but some may get delayed.

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See, this is the type of educational, positive, Hive post everyone needs to read. Not just HIVERS but everyone in cryptocurrency and web 3.0

Thanks.

!BBH

!ALIVE

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Because this is such an awesome post, here is a BBH Tip for you. . Keep up the fantastic work

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I've done a lot of research of other Blockchains and HIVE is certainly unique and the long time members that have been along for the journey are here to create a system that works, it is exciting to see! Thank you for the post, it definitely invigorates me to see that time is being well spent on the Blockchain as a whole.

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I wasn't aware of those issues with Lightning. Hive is indeed superior.

How often did you have a transaction fail on Hive (the base layer, not layer 2)? Yeah, not often.

Now that you mentioned it, I don't think it ever happened to me...

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Decentralized autonomous organizations such as Hive to me is the ultimate combination of progressivism and capitalism . Hive has come to stay and cements its feet in the cryptosphere .

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People think that Hive will not last. According to the way they are working, they are suppose to know that Hive is attracting alot of people and is not going to go anywhere.

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Hive's been solving real problems for so long. Think ow much crypto is spent on ENS. Hive has usernames by default anyway. If we mix web domains with Hive usernames - we can have some real killer service.

That's just 1 of many ideas. So far the easiest to promote is games. SPK network might pull of something awesome too :)
!PIZZA

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Well bitcoin myk solved that problem years ago. We said years ago platforms like hive should have focused on being a payment network. it's too much all over the place and that sometimes is not good

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With HAF by blocktrades coming soon. I think Hive is the best 2nd layer solution for Bitcoin

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Haven't checked up on lightning in a while but this sounds horrible lol. How in the world did they end up with a solution that requires both parties to be online ffs...

BTC people really need to discover Hive before they make this mess even worse if you ask me...

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So lightening Network is inefficient?...

Lets see the promise of HIVE come to fruitation!!

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For Hive I have a feedback… Why Hive doesn’t have integration with cold wallets like Ledger?

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