We have a lot of terrific things happening on Hive. This was added to by the recent announcement that there is collaboration taking place between the Hive and Telos blockchains. Naturally, everyone is wondering about it.
What is going on?
The short answer is nothing concrete at the moment. There is no collaboration taking place so the excitement is premature. If that is the case, why mention it?
As we will see, there is a new era being ushered in which is going to radically affect the future path of Hive.
According to the article posted by Hiveio, this is a situation that evolved over the last few months. While nothing is final, we are seeing some groundwork being laid.
We're excited to announce that over the past few months we have had some great discussions with our fellow Web 3.0 proponents at Telos.
There is much synergy between our communities and goals. Both Hive and Telos are focused on innovating on top of DPoS technologies and embracing new challenges.
There is something very interesting taking place. This is another case where the mention of pushing DPoS technology forward is brought up. It is something that those involved in the SpkNetwork alluded to on a number of occasions.
Hence, we can conclude there is interest in pursuing ways of enhancing DPoS as a fundamental technology in the shift to decentralized infrastructure. Basically, the view is that Pow and PoS cannot offer the efficiency, distribution and decentralization of DPoS. To make this known, more advancement is required of the technology in general. By engaging in collaborative efforts, we presume, this concept can be pushed forward.
It is evident this is the mindset of many of the developers involved as evidenced by this comment by @guiltyparties from the article linked above.
We can all guess what is being referred to with the "its predecessor" part. Either way, this shows how the interest exists to push the tentacles of Hive, as well as DPoS, further out.
Acceleration of Development
A lot of this appears to focus upon development. That might not make users very happy since everyone is focused upon what is going to be given to them. It is not surprising that many focused upon airdrops the second this collaboration was announced.
Nevertheless, we cannot overlook the importance of this. We are in the very early stages and a ton of infrastructure still needs to be built. Collaborative efforts in this arena can accelerate the development time, pushing all DPoS chains further along.
We get a bit if insight into this from a Medium post put out by the Telos team.
Telos and Hive are both fast, scalable, and near-feeless blockchains with strong governance principles. Telos is weeks away from releasing their EVM, which will empower new developers, the existing Ethereum ecosystem, and enterprise clients. Hive has made massive strides in getting listed on major exchanges, improving its code, and continuing to provide an immutable blockchain for content storage and support the freedoms of speech and of information to all. Our shared principles and focus on Web 3.0 set this partnership up for success, we’re excited to see where it takes us!
The key take away here is the statement about the EVM (Ethereum Virtual Machine). For those unaware, this is what is allowing for much of the expansion of DeFi. Binance Smart Chain, for example, was a fork of EVM.
Does this mean that it will be incorporated into Hive? There is no way of telling. What we do know is that both Hive and Telos have similar code bases. This is why the collaboration makes a great deal of sense. It would seem that what appears on one could be adapted rather easily to operate on another.
Of course, there is the idea of simply bridging also. Why reconstruct something that already exists elsewhere. Perhaps, once the EVM goes live on Telos, some will bridge Hive into that, so the functionality is available to Hive applications without having to built it all from scratch.
For now, it is all speculation. It is likely we will see some clarification on this in the next couple months.
The Lesson From Ethereum
We only need to look at the success that stemmed from Ethereum to realize how quickly things can spread.
There is no question that Ethereum, on its own, is highly successful. While there are challenges with that chain, it is the one with the most money tied to it as well as topping the charts in development. We also see the value reflected in the market cap, permanently residing as the #2 blockchain behind Bitcoin.
This takes on even greater meaning when we look at the forks that took place. The EVM technology serves as a basis for many other chains. It allowed for accelerated development while also providing developers other choices. Matic, BSC, and Tron are just a couple of examples of this.
Within the DPoS family, we see similar codebase start with Bitshares, Steem, and EOS. From there, a number of forks occurred resulting in Hive, Telos, and PeerPlays. These are mentioned because there appears to be collaboration between different teams. In addition to the Hive-Telos announcement, we get the SpkNetwork roadmap which is incorporating aspects of PeerPlays with Hive.
Until things roll out, most of us have no idea how this all will unfold. That is perfectly alright since detailed explanations would probably go over the heads of us non-technical people. For the moment, it is sufficient to know there things happening behind the scene that is going to enhance the reach of Hive.
The Hive-Telos Collaboration could offer a road map whereby developers from both ecosystems are able to leverage the skills of each other for overall gain. The world of blockchain is not a competitive environment per se since we are going to need all the bandwidth we can get. While people are focusing upon one project against another, usually in the context of token price, the reality is that we are going to see massive value created across the entire spectrum.
In other words, most valid projects are going to do very well.
Enhancing the capabilities of both Hive and Telos through collaboration only makes sense. It would seem this could create a situation where all parties involved benefit.
We will see where things stand by the end of the year. Suddenly, it is getting very exciting around here.
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