Hivefest: Telling Us Where Hive Is Going

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(Edited)

Another Hivefest is behind us. For the second straight year, this was held in the virtual realm. Nevertheless, the information coming out is vital for those who are interested in the future of Hive.

The first thing that is noticed is how far we have come. Even though we have the legacy back to the genesis block, the chain truly only started about 20 months ago. In that time a lot was accomplished. As we saw, there is still much to do.

We all know of the success of @splinterlands. That is an example of what was a large theme. Regardless of the metric, the numbers are up across the board. We even saw a major jump in the price of HIVE, off its lows of around 10 cents.

Of course, the introduction of Punks on Hive was an exciting development, designed to coincide with Hivefest. In spite of some of the challenges, all 10,000 punks were sold out.

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NFTs

This success was not surprising. We all know how NFTs are the rage at the moment. Many are speculating that we are in a bubble with this, and they might be correct. Nevertheless, that does not diminish the future potential of this technology.

It is a key point. Throughout the event, we saw a number of presentations that discussed how they are going to be integrating that into their offerings. This means we are going to see the ability to store, move, and buy/sell NFTs in more of the applications.

Often we have to separate fact from fiction when it comes to hype. NFTs are going to be a powerful part of Web 3.0. This is a new ownership model which is going to expand. Presently, while in its infancy, we are dealing with fun, collectible items. However, when we project out, we see a much different future.

For example, how would you like to trade real estate on Ecency? That is what NFTs are going to enable.

Smart Contracts

For more than a year, we discussed how there is a gap in the Hive ecosystem. This stems from the fact there is no smart contract capability at the core layer.

Since that time, a number of projects cropped up to address this issue. There are a couple more intent on confronting this.

At present, we have Hive-Engine and Dlux.io that have smart contracts in use. They are still in the early stages but they do allow for token creation and other features such as the abovementioned NFTs.

Over the next year, it is likely we see platforms rolling out from both Blocktrades and the SpkNetwork that offer similar capabilities. These will vary in what the specifics are yet the goal is the same: to give Hive the features, via the second layer, that other blockchains are presently utilizing.

Here again, we have a technology that is still in its infancy. Ethereum introduced the concept when it came into existence. However, like most things, we did not see a great deal of utilization to start. The most heavily used feature early on was the ICO, which was novel but not too productive as it turns out. Yet, out of that, we are seeing more use cases being experimented with.

Filling In The Gaps

We could say that we saw a lot of "gap filling" being proposed. By this, we are referring to the idea that development is taking place to solve some situations presently hindering Hive.

One area that Splinterlands exposed was the challenge with onboarding users and getting them enough RCs to be active. This was addressed in the core developer presentation with Resource Credit delegation. It is a feature that will allow delegation similar to Hive Power but in RC.

There was also the middleware being developed by @arcange. The Hive Authentication Services is going to take blockchain log-in to an entirely new level. Any game, application, or website will be able to use the service. Users will then be able to log in without having to provide their keys to anyone. It ties into Keychain and verifies through that.

This could really help to leverage Hive's account management system, which is decentralized on the base layer.

Another "gap filler" is the Hive Application Framework (HAF). It appears this is very close to release which is going to take development on Hive to another level. The challenge within the industry is the fact that application developers also need to be knowledgeable in blockchain. This, naturally, reduces the number of people who can code.

HAF opens Hive development up to the entire development world. Anyone who can code and works with databases can utilize HAF. Basically it allows the developers to focus upon their application while the blockchain team handles what is fed into the HAF. Any changes at the blockchain level will not affect the applications (negatively) since the HAF will be updated with each blockchain change.

This kind of stuff is not exciting to the majority of non-programmers. However, having the proper infrastructure in place is vital. Security, ease of development, and optimization are not toe curling stuff yet are essential for expansion going forward.

Growth

We can sum up the focus of the event as such: growth.

All the projects appear intent on growing and expanding. Even Splinterlands, in spite of its remarkable success, is looking to add a great deal more in the future.

With so many projects underway, we can see how this expansion is going to put pressure on all aspects of Hive. Fortunately, there are many people in place who are working to ensure we can handle it.

The scalability of the blockchain has not been tested after a year of optimization. Thus, we know there are much higher levels that it can handle. Growing popularity is also going to create a need for more Resource Credits, which come from the amount of Hive Power.

It often takes a long time to become an overnight sensation. Many watch as other projects within the cryptocurrency world are thrust into the limelight, resulting in enormous price appreciation. This is further compounded by the fact the crypto media writes endless articles about it.

Nevertheless, as any business person will tell you, sometimes the best path is the slow and steady. It is not sexy or glamorous, yet it is effective. There are many example of technology companies that spent years not really going anywhere, at least that is how it looked from the outside. Yet, if we look beneath the surface, a lot was taking place.

That is how it seems with Hive. We saw, through a couple days of presentations, that a lot is being done. Many are involved in different aspects of this ecosystem, all putting in the hours. We are seeing the results pop up in a few different areas, green sprouts if you will. That said, there is a lot more to come.

One of the values of a Hivefest is that it provides a "line in the sand" for us to look back over the last 12 months. It is a little more than a month before the end of the calendar year which puts people in the same mindset.

Since the last Hivefest, a great deal was accomplished. It is vital to keep in mind that projects of this nature often more than a year in the making. Thus, we have things that were started in early 2021 which will not fully roll out until late next year. It is just the nature of development.

In conclusion, there is a lot to be excited about with Hive. While we are not the biggest ecosystem out there, we see the dedication and commitment that many have. This is going to translate into success down the road.

And for all those who are price watchers, between the need for RCs and the SIP from SpkNetwork, we are going to see the demand for HIVE growing.

It is safe to say that we will be much further down the road when Hivefest rolls around again next year.


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47 comments
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It's nice to see the products and ongoing development on Hive. Price will follow (not sure when) but we need more products and active developers. The work will shine through. The investment we put into blogging or any other ecosystem product will help the system grow. I believe and I invest on Hive.

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The development is taking place and a lot of things are starting to come together. Keep in mind we are only 20 months into this. Before that, everyone was waiting on STINC.

We came a long way in a short period of time although it doesnt appear that way. A lot was done on the back end.

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pixresteemer_incognito_angel_mini.png
Bang, I did it again... I just rehived your post!
Week 80 of my contest just started...you can now check the winners of the previous week!
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I've lost the bandwagon on Splinterlands, same with Punks, I will for sure not miss the next one. One thing is sure though, Hive is becoming an "all things blockchain".

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dCrops hasn't released beta packs yet.

I've tried to get into Exode enough to follow it, but it alludes me.

It helps to looks at things from farther away. @splinterlands, for example, seems like it's mooned and too late to enter, but looking at the numbers and considering how many more players are to come, it can be argued that it's still early. Just holding a few unopened packs or some solid cards to rent out doesn't seem like much until DEC is over $10 each and you've been collecting one or two a day for the past year.

Hive started the year around a dime, an now it's around a dollar. How did our user base grow compared to how many more will come? I think Hive is cheap at twice the price even when it gets into 4 digit increments.

So few people are in this space compared to the entire global population that will eventually be involved. There's no too late yet. Even BTC is still cheap compared to where it will go. Here's the thing... if you like it, chances are someone else does, too. So just go do that with those people and the rest just happens.

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yeah, i was like.. let me check out my facebook. then.. No, let's do some blogging stuff in Hive! :)

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I recently had to go to FB market to find a place to live and I feel still feel dirty for it. 😆

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You are right. It is easy to think things mooned yet we are just at the beginning. The game does not even have a million users yet.

Imagine if it gets to 5 million daily players. That still wont make it a huge game but will do a great deal to increase the value of everything assotiated with the game.

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One thing is sure though, Hive is becoming an "all things blockchain".

Filling in the holes, that is for sure. A lot of work still left to be done but expansion is taking place. Each of us has a role to play. The developers are banging out code that is going to have an impact.

It is up to us to make sure we help to make the different projects a success. After all, it all ultimately feeds into the same pool.

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Nice sum up. And there's more super exciting things going on, for sure. And as we progress and figure out something, it opens up many new ideas and potentials for further things.

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It does all build upon itself. The more stuff we see in place, the more ideas that flow from it.

That is how organic growth occurs. It is also how things can go exponential.

Imagine when we have 3 or 4 games/apps that mirror the growth of @splinterlands.

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You made a solid point, NFT an aspect of wealth creation that's becoming rampant on hive. The other day I talked about a Splinterland cards going for $50k and it's just so amazing how punk seem to done well in just few days, I think people are willing to dive Into NfT and so many aspects of it on Hive. We need to pay attention.

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Those are numbers that are small compared to what we see elsewhere but we have to start somewhere. The fact that we are seeing some bigger numbers happen on Hive is very telling. It will grow over time.

There will come a day where a @splinterlands card will go for $100K. That will wake some people up.

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There will come a day where a @splinterlands card will go for $100K. That will wake some people up.

I don't doubt it, hopefully we can all be pr prepared for that abundance when it actually comes. More Opportunities are coming through.

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People on hive tend to underestimate just how massive the NFT market is on ETH .

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I don't, I think it's next level and it'll take us some time to eventually get there

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It will take the hive whales to be much richer than they are now ;-)

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The onboarding part is necessary...many new people are not able to interact with the platform when they first join

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That is where RC delegation is going to come into play. People (applications) will be able to delegate RC to new users they sign up.

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Okay cool...I am happy to hear that..

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hive is young , and i believe that one day we will feel proud to be part of this great community, i know, when hive alive was first day, it was i think friday,, to my side,, we were very much happy, so now we are great happy,,

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hive is young , and i believe that one day we will feel proud to be part of this great community,

I agree completely. This is still very early in the process. We have the legacy but only 20 months on our own.

We are already seeing a lot of progress. Just wait until a few more applications roll out. The development is occurring, it is exciting to watch.

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Well I don't have much to say but kudos to the guys who are making these things happen. You guys rock...

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There is a lot to Hive for sure looking forward to start getting more involved as i understand more, great post have an awesome day

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My suggestion is to dive in as deep as you can. I found that I was not disappointed. So much taking place and we have a lot of opportunities.

The key, from my perspective, is to just get active. That is the starting point.

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Yeah i am starting to do that now i am kind of working it out thanks for the advice much appreciated

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Is the resource credit delegation the RC pools discussed before? I haven't seen much of an update about it so I thought it was lower on the priority list.

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The RC pools are scrapped for now. I think there were technical issues that were encountered. Either way, the RC delegation works just fine.

We will see application be able to delegate RCs to each user they sign up. This will help since other large stakeholders could delegate RC while holding onto their Hive.

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Congratulations @taskmaster4450! You have completed the following achievement on the Hive blockchain and have been rewarded with new badge(s):

You have been a buzzy bee and published a post every day of the week.
You received more than 1140000 upvotes.
Your next target is to reach 1150000 upvotes.

You can view your badges on your board and compare yourself to others in the Ranking
If you no longer want to receive notifications, reply to this comment with the word STOP

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Yes it was my first time and it was great, hive is gonna rock in the near future with all that is happening !PIZZA

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Congratulations on your first Hivefest.

Things keep growing around here. Keep active and you will see a lot of things change for you on here.

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Looks like so many wonderful things will be happening. I am not into Splinterlands. I did get into dcrops and finding my way around it. Looking forward to the future.

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Very positive things are coming for the Hive blockchain, I'm honestly very excited about what's going to happen in the future.

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Despite having time without writing for work reasons, I am still aware of what happens in the Hive chain.

I have not taken out a single token, although I do not have many hahaha. because I believe in the potential of Hive and I know good things are coming.

My congratulations to those who are working on improvements and making this possible.

HIVE to the Moon!

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Congratulations @taskmaster4450! Your post has been a top performer on the Hive blockchain and you have been rewarded with the following badge:

Post with the most upvotes of the day.

You can view your badges on your board and compare yourself to others in the Ranking
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Thanks for the update. We still have major on boarding issues at the moment . I have had several people recently try and just give up. And these are crypto NFT types who are used to seed phrases and keys and using extensions like metamask. Everything still points to https://hiveonboard.com/create-account and it’s not issuing accounts. I have been directing people to 3-speak but they hold your keys until you request them . It’s not simple.

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