The Evolution Of Hive

about 2 years ago

It is happening before our eyes.

The future unfolds as time passes. Each day we get a glimpse into what things will we like. Hive is no different in this regard.

Over the past couple years, we saw incredible advancement in the Hive ecosystem. For those who are here on a regular basis, this is both obvious while also being hidden in plain view. Things do not seem to be changing when here daily yet, if we step back, we can see marked differences.

At present, the ecosystem is going in many different directions. This is the power of a complex system that is expanding organically. We can get excited by the thought of where things will be in another couple of years.

Hive Backed Dollars Making A Statement

We all read the news that the Witnesses decided to increase the interest on Hive Backed Dollars (HBD) that is placed into savings. It now sits at a robust 20%. This is one of the more aggressive payouts on any stablecoin.

Of course, if we think back 12 or 15 months, where was HBD? Many were still claiming it should be removed from the blockchain. There were people openly proclaiming there was no point to it and that Hive would be better off doing away with the "extra token". To them, it served no purpose.

Actually, it was hard to argue that point. When we look at things then, HBD didn't have much use. Certainly, when it comes to acting like a stablecoin, it was not even in the right time zone. The range of fluctuation was anything but stable.

Then some innovation entered the picture. The HBD Stabilizer came into being and started to do its thing. Over time, the range HBD moved tightened up. The coin became somewhat "stablish".

Today we see a completely different perspective. HBD is not at the center of Hive's foray into the fixed income market. The return is aggressive, putting it up there with any stablesoin project. This also operates at the base layer meaning a lot of the risk associated with third parties is removed.

HBD certainly is making a statement.

Blogging No More

The original use case for the blockchain was as a blogging platform. It certainly is used for that. However, we are quickly seeing it evolve away from that being the sole purpose. We now have other use cases that can penetrate the mainstream in due time.

Not only are we see Decentralized Finance (DeFi) become a standard, there are other projects that can have serious impact. Take @podping. This is a protocol, developed on Hive, which is changing how podcasts are indexed. Using the immutability along with fee-less transactions on Hive, we see podcasting updates being sent out without the use of a centralized service like Apple or Spotify. This could help to break the stranglehold major companies like Google have on this industry.

We are also at the forefront of the #Play2Earn revolution. This is, naturally, being led by Splinterlands. However, we have a host of other games under development that could be very interesting. Ragnarok, PsyberX, and EXODE all have potential in different gaming genres. The development teams are taking a multi-year view of things.

Finally, we have Leofinance and its associated applications. While the flagship site, Leofinance.io is a blogging platform. the development team is working on different projects that extend beyond it. However, even focusing upon that application, we are seeing it quickly transforming into Web 3.0. The most recent announcement that advertising revenue would be shared among the different Leo Power holders is transformative. It is not a company or centralized entity that benefits from the ad dollars (Bitcoin in this instant).

What is exciting about that project is the community is focusing upon doing the things to generate better rankings with the search engines. This includes a push into optimizing articles. SEO is an important criteria for generating traffic. It will take a while but we could see a major difference over the next year. The stakeholders are not financially incentivized to increase the traffic flow.

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Digital Cooperative

We often discuss this. Hive is now epitomizing the idea of a digital cooperative. We all live in the same neighborhood and any success in one area can benefit the whole.

Anyone who is holding Hive Power is now part of this. One immediately has a vested interest, financially, as soon as that Hive is powered up. It is an act of dedication. Of course, simple financial commitment is not enough. Those who also dedicate themselves emotionally become part of a growing movement. Hive has a lot to offer and many of us aim to keep it growing.

Community is a word that is tossed around frequently. To me, this is the core concept of a cooperative. The difference between what we are seeing unfolding and what took place in the past is the fact this is operating in the digital world. We are not constrained by geographic limitation. Also, scaling was always a problem with cooperatives. In the digital realm, this is eliminated. Hive can scale to much greater heights as compared to its present level.

Each of us has a stake in what is taking place. In other words, it is in everyone's best interest to aid in the growth. For years, the average person complained he or she did not have "a piece of the pie". Web 3.0 is changing that. With Hive, each has a slice. The question is are we going to take responsibility for having it. That means engaging in certain behaviors. Having an "ownership" mindset is a transition people will have to make. We are no longer just users (or the products) like on traditional social media.

Guerilla Warfare

Hive keeps flying under the radar. To many, this is a problem. The reality is the exact opposite. Hive is completely overlooked. Few are taking it seriously as a major player. This is to our advantage.

When outgunned, one might not want to go head-to-head with the opponent. It is best to utilize guerilla tactics, striking without them noticing. This is what Hive is doing.

What are the tactics we employ? It simply comes down to building. Hive goes about its business, developing on a regular basis. While other projects get the headlines, Hive just keeps plugging along. This is what creates results.

One of the main benefits to this is we can watch and learn. A lot of innovation is taking place within the cryptocurrency world. Not all of it is successful. We can learn from the errors others make. Hence, when we incorporate something, we do it in a way that gives us a much greater chance of success.

We don't have the "face of Hive" out there hyping things. To many, this is a negative. What Hive has is stability. Our foundation keeps expanding, providing a more resilient system. As new applications roll out and start to have some success, wealth builds. This helps the entire ecosystem since the Hive economy is diversifying. This is a basic premise in economic resiliency.

Growth is slowed as compared to other ecosystems. That said, the goal is not necessarily to be the first. The first one diving into a river of alligators might not end up in the best position.

Many look at other blockchain (cryptocurrencies), wanting to be like them. The reality is that Hive has the chance to usurp them. There are a few unique features that Hive offers which can put it in rather elite company. When it comes to replacing the true power center running the world, Hive actually offers an opportunity. We can eventually target the core of the global banking system, replicating it in a way that favors all of humanity. Not many chains can make that claim.

It is difficult to be patient. However, if we realize how big the fish are that Hive could be targeting, we see that time is required. Things are not going to happen overnight. That said, if we keep making the moves at the base layer, we then can build the heavy artillery at a secondary level.

Hive is evolving. Right now it is so much more than just a blogging chain. What we can presume is that, come a year or two from now, it will be more than it is today.

This is how evolution works.

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