Why is hive different?

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Why is hive different.jpg

There are plenty of blockchains out there and many of them have their own specialities and use cases. Most of them are actually pretty specialised in one or several fields. What sets hive a part is that it doesn't specialise in one field but offers almost everything imaginable that can be done on a blockchain.

I try to rate the different aspects of hive in respect to other blockchains. These ratings are purely subjective and I would be glad to hear if you would rate things differently.

NFT's – 6 out of 10

It's not that easy and cheap to create NFT's on Hive. However we have some possibilities to do it on the second layer with Nftshowroom or through the smart contract on tribaldex. I think that for the moment, it's still easier and cheaper to create NFT's on WAX or BSC.

Defi – 7 out of 10

We have several aspects that could be considered as decentralised finance. We have dlease where you can actually delegate your hive power for a daily return. But then we also have rewards for staking Hive that is around 2.87% APR and also interests on HBD on savings accounts with around 10% APR.

Recently we saw the diesel pools emerge on Hive-engine. They are still in development and they are working on the basis of another business model than most other concepts. Since there are no fees, the reward pools have to be financed differently. But if you take for example the new concept of BXT that distributes tokens to liquidity providers and then rewards the stakers of BXT with the earnings from the swaping fees on Beeswap. We see what is possible and how new projects could develop.

In my opinion, defi on hive has a big advantage. Because it's feeless, it's available also to small holders.

Blockchain gaming – 10 out of 10

When I see how Splinterlands is developing and when I compare it to games on other blockchains, I believe that there is hardly a blockchain that is more adapted for blockchain gaming.

Smart contracts – 5 out of 10

It's not really well known, but there are some smart contracts that are available on the second layer. The great thing is that these smart contracts are from the shelf and don't need any coding. We have the market maker smart contract that allows you to trade automatically on hive-engine. There are also a series of available smart contracts on tribaldex that allow the creation of NFT's, of DAO's, pack manager, SMT, Distribution, Airdrop, Claimdrop and Mining. All taking place on the second layer.

At the moment it seems not possible to publish smart contracts yourself and in this respect hive is probably still a bit behind other blockchains.

Community – 10 out of 10

When I look at what other places call communities, I think that nothing compares to hive. When I go through the post feeds, I actually know every third person probably from already having interacted with them in a way or another. We know each other more than just by our avatar. We know about our lives, our assets, our projects and we help each other to grow. This is probably the aspect about hive that I love most: hive is a win-win blockchain. If my friends win, I will win in the long term as well. If they grow their stake, they will give more powerful upvotes. So it's in my personal interest to help people grow around me.

Exchange – 8 out of 10

A lot of people on hive don't realise actually the amazing possibilities for trading on hive. On tribaldex we can swap or trade many coins and among them BTC, LTC, WAX, ETH, DOGE, BNB, USDT, EOS, AXS. All these tokens come in the form of Swap tokens and you can actually withdraw these tokens directly to the respective blockchain for a simple 1% fee! In addition to that swaping and trading is completely free on Tribaldex!

E-commerce – 10 out of 10

Hive is the perfect solution for E-commerce. It's feeless and quick with 3 seconds transaction times. There is a pretty great service with Hivepay that allows you to integrate hive into almost any type of online shop! You can create a token and then use it as e-commerce solution. Where else is this available?

Social media – 9 out of 10

If you have a project on hive, you can profit from the inbuilt social media to promote it. Content creation and curation was the core of the blockchain in the beginning. We can even publish our content as video format thanks to 3speak

The only thing that is lacking in my opinion is a short form service. Maybe we will have this quite soon already with project blank...

Innovation – 10 out of 10

The evaluation of blockchains is often made according to what development is being made. The great thing about hive is that even the development and innovation is decentralised. Things are being built on many different ends. Contrary to most other blockchains, there is not one entity that promotes what is being built and maybe it's why hive flies under the radar in this respect. So much is being built on hive and not only from a coding point of view. There are social projects, art projects, offline meetings, gaming projects, financial projects....

However what sets Hive most aside is that there is not one owner but that we are all owners of it. Whatever value one of us builds on it, all the others profit from it as well. The name for the blockchain is very well adapted. We are a big hive of active people who contribute to make this hive grow and the bigger it is, the more place we all have within it...

How would you rate these different aspects?


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15 comments
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Nice points and scoring gave and the communities and projects from here are a force in the crypto space. For me, HIVE is the best place for a startup to start, grow and become a successful project while building a community at the same time around it. This is the key factor and the game changer!

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HIVE is the best place for a startup to start, grow and become a successful project while building a community at the same time around it

I completely agree with that. You have all the tools necessary to make a project grow and that's unique in the crypto world I believe.

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I would probably rate smart contracts a bit higher because BXT is going to be provided to people who invest in the diesel pools. I don't know how often they will pay out but it should net some extra HIVE from trading fees generated.

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BXT is a very interesting project indeed. It shows what is possible on this blockchain and I believe it's just the beginning.

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Amazing post @achim03! You opened my eyes to several possibilities that I was thinking lately. Yes most of them I already knew, but they didn't make click until now! Thanks for sharing this! And I agree, the community is key with HIVE! I even consider it the most valuable asset on this blockchain. Specially, if you think about what happened with the Steemit debacle.

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The community on Hive is really what sets this blockchain a part from all the others but it also thrives because of everything that you can do on it like gaming, nft's trading. The content creation is fed by that and the community grows thanks to all that.

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Hey @achim03
I don't think i have learned enough to be as bold to rate these areas i do think there are some other aspects that need to be considered.
For example not all front or back ends are equal in my opinion.
Neither are all tokens, apps and so on.
Considering this is the structure of the community, the town hall if you like i think somethings do need to be looked at as well.
I love Hive and really getting into all the different functions and apps but there are a lot of bugs that need to be sorted.
I love the post bro but i do think your numbers are high.
Obviously it's all in development still, which is why giving anything a full mark while it's under development seems bold to me.
Keep up the good work buddy
Have a blessed weekend my friend.
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I have to agree with you that there are a lot of aspects of hive that I would consider kind of unfinished... Things break down... sometimes they don't work but when compared to other blockchains, it's still so much better. Just try to pass an ethereum transaction lol

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LOL absolutely @achim03 buddy.
Yeah i get what you are saying i love it here.
It is going to be my total focus to be here on hive.
I can't wait to see how it all develops over the next few years.
:)

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I agree with 10/10 for blockchain gaming and community! I came onboard from playing Splinterlands. Initially I was looking for Splinterlands guides, but now I am doing much more because there are so many communities/groups here! I could look at photography pictures, do freewriting, etc.

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Exactly, the community is a whole world in itself and there are so many side projects that most of the users on hive don't even know about...

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On the innovation side, I both agree and disagree with 10/10. On one side, we don't have the development power other chains that are in the spotlight have (except Splinterlands, but that's a dapp using Hive), but in many respects it may be easier to innovate on Hive than on other chains (like Ethereum), and that's where I agree with the top mark.

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I quite agree with that. It's true that the development on some chains looks much more professional than on hive but on hive the development is much more decentralised and variable I believe. Everybody with some coding knowledge can build something on Hive. Even I could build some widgets and I don't know much about coding lol.

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