Building Hive On Top Of Hive

What an interesting road we keep going down.

Many of us feel that Hive is far ahead of everyone else when it comes to the Web 3.0 infrastructure. As we are seeing with Elon Musk and Twitter, there are many forces out there who want to control the narrative. It appears this is extending to government and Presidential administrations. Through social media, they want certain topics/authors banned.

This is not what blockchain and Hive stands for. The idea behind a permissionless blockchain is that anyone can utilize it. At the same time, with Hive being a home for decentralized text data, it brings an element to the table that cannot be matched in too many places.

Hive is the epitome of combining censorship resistant social media with finance. Both are outside the reach of governments. The base layer of Hive is structured in such a way that gaining control over the ecosystem is very difficult (if not impossible). Many safeguards were put in place to deter that from happening.

We also have the base layer coin, $HIVE, that utilizes a reward system for distribution. Each day, thousands of people are able to get rewarded in the coin, a move that gives them a bit influence over the network.

This provides a powerful foundation that is unrivaled.

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Building Hive On Top Of Hive

So what comes next?

From what we can see, it appears the next step is to "build Hive on top of Hive". Having a decentralized layer 1 is not enough. The process is already starting of how to construct a similar second layer.

Therefore, we see software and development emerging that is laying the framework for a layer 2 decentralized node system. This means that any applications tying into this have the benefit of two decentralized layers.

At the core of this is resiliency. Systems that are vertical in nature can be taken down. We know they can be toppled when the right threat emerges. Powerful forces have historically undermined even the biggest of organizations. This is what happens with the hierarchical framework.

Hive seeks to go the opposite direction. Decentralization means spreading things out horizontally. We see this in the node system that runs the blockchain along with the coin distribution. Anyone can enter and start filling their wallets simply by the activity they undertake.

This is complimented by duplicating the same concept at the second layer. Of course, this is not limited to just one project. The creation of a number of node systems of this nature would only benefit (and insulate) the base layer.

Here we can see how "building Hive on top of Hive" is the only sensible move.

Lapping The Field

The switch by Ethereum from proof-of-work to proof-of stake revealed a major flaw in that system.

Since that took place, it is evident how centralized things are becoming. From the start, a couple of node operators took control. This is because the staking provides block producers with the opportunity to validate based upon the percent of stake controlled. Couple this with the fact that the original distribution meant there were a number of large ETH holders who are basically able to control much of the chain.

Nobody is guaranteed block production hence it is on a probability basis. However, if one pool is controlling 60% of the stake, it is likely that, over time, it will produce that many blocks. The percentage might be up or down a few points but it will be in the range.

Hive does not have this. The Top 20 witnesses have the opportunity to produce the same number of blocks, regardless of the stake voting them. As long as they are in the consensus pool, the production is equal.

This means no block producer handles more than 5% of the activity. It is actually reduced a bit since there is a 21st node that is involved on a rotation basis.

Having this at the base layer is appearing to be very rare. Duplicating something similar, i.e. a decentralized node system, at the second layer is unheard of. This is helping Hive to lap the field when it comes to resiliency.

Hive As The Transaction Layer

Base layer feeless transactions is crucial. This is something that is overlooked throughout much of the blockchain world. While Bitcoin and Ethereum are the two biggest chains in terms of market cap, they also can carry some high fees when it comes to transactions.

This resulted in many efforts to alleviate the traffic on the base layer. Essentially, development teams are working on layer 2 networks that move the transactions to the second layer. Lightning is an example of this.

What this means is the transactions, which are designed to be decentralized and censorship resistant due to blockchain characteristics, are being removed. Instead, they are on layer 2 solutions that insert counterparty risk.

It is ironic is that Hive might end up being a solution here. In the next few months, we might see technology roll out that allows for the transferring of both BTC and ETH using a wrapped token. Ultimately, this means that BTC could be sent from one wallet to another using this system yet without the massive fees periodically associated with the main chain.

Also, unlike Lightning, once fully tested, larger amounts of BTC can be sent.

We should not overlook the ability to transact in a fast and feeless manner. That is something taken for granted on Hive yet is also a rarity in the rest of the cryptocurrency world. Many chains are looking at reducing the transaction fees. This occurred with some of the EVM forks. However, when analyzed, most of these are not even close to being decentralized.

With Hive, we are looking at the ability to put immutable data on top of immutable data. Just consider the implications of that for a moment. This extends far beyond anything else that is out there.

The revelation about the direct influence over social media accounts will take on even greater meaning when we add the financial component. With Hive, not only can one enjoy immutable text storage, we also have full control over the wallets along with money housed in them.

It does not appear this will be the case with traditional social media.


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

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Thanks, most informative, needs another read through, forever learning more by reading content like this.

@tipu curate 2

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What is going on with #Hive is rather impressive in my opinion.

Lots committed to building things right.

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Very impressed with development teams, making sure everything links in together with right security layers, and code correctly links onto blockchain. Exciting to watch Hive grow, thanks for the detailed account on what is happening.

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There are an assortment of differnt things happening that are very exciting. The teams involved in different aspects of the project are amazing.

We just need more of it. To me, it is like a snowball, just keeps gaining speed and size as it goes down the mountain.

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pixresteemer_incognito_angel_mini.png
Bang, I did it again... I just rehived your post!
Week 135 of my contest just started...you can now check the winners of the previous week!
!BEER
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There's none like Hive in the blockchain space. Bitcoin and Ethereum have some fundamental problems (scalability and efficiency) that's not easy to solve without creating another set of problems.

The technology roll out that allows for transferring of both coins using a wrapped token is an interesting news.

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Yeah they can answer some of those problems with layer 2 solutions but as we see, they arent really approaching that in a way that solves the main problem.

Centralization is going to be the undoing of a lot of this industry. It is either going to be comply with regulations or get zapped.

LBRY (the company) is a prime example.

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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 received more than 1560000 upvotes.
Your next target is to reach 1570000 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

Check out the last post from @hivebuzz:

The Hive Gamification Proposal Renewal
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i always read your article and your article keep us more active, motivated thank you very much for sharing informative roadmap and future of the hive web3 , hive on,, i believe that hive will be one of the top listed blockchain web3 in the coming future,

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It's crazy to think the thing that brought most of us here (blogging) could one day be 5% or less of the actual activity or use that happens on the Hive chain. My friend as pretty much zero interest in blogging, but he gave me money to invest in the account I created for him because he saw how excited I was about all of the other stuff that is happening on Hive.

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I am not sure the numbers but if we include Custom JSONs, they make up the majority of transactions on Hive.

So depending upon how you frame it, blogging is already in the minority.

In terms of activity, which might be different, yeah that is mindblowing. A major transformation.

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No iota of doubt
Hive is far ahead of every counterpart when it comes to web 3.0 that's why I can't fail to remain active on hive

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@taskmaster4450l after reading this article i feel more confident hive have everything to become world's number one decentralized blockchain based social media

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Building decentralized infrastructure on decentralized infrastructure is something to be confident about.

It might fail but many feel we are on the proper path.

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We need fantasy theme games on Hive. We already have card games but the fantasy theme games would help us in the context of the game in general. Let's hope something like that comes up.

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Hive is quite a bit decentralized and I think we can push that even more. But we need to extend that from the base layer to the second layer in order to ensure fairness at every level.

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Hive is quite a bit decentralized and I think we can push that even more.

Can always push more. Decentralization is a direction, not a destination. No matter where you are, always further down the road to go.

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Hive is becoming epic. Looking forward to see how this all works out with the second layer.
It is interesting to watch the different types of uses that are being used with Hive. I hope to witness Hive become more and more popular so games like dCity become filled with even more competition.

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I think you will see more popularity. We have to keep developing the applications. Nevertheless, that is taking place.

LeoThreads and Veews are two applications that are exciting to me.

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Great info! I get to understand Hive more and more with every day of reading. Thank you 💙

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Thank you for this detailed information. Hive is surely getting stronger by the day and with enhancements it can be one of the biggest game player in the Crypto space.

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Thanks for this amazing post and it's good to see hive surging each day and keep improving to stay at the top all the time. I believe there is still more to come and that's the reason why I keep myself active

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Information is very useful for me. Because my age here is still small.

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I'm glad to follow your contents consistently both here and on #twitter. Let's keep spreading this great news! I feel inspired to invest more and engage the #Hive blockchain.
This is informative indeed!

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thank you so much for the article.. your words keep us motivated and to never give up on hive.. thanks!

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Thank you so much for your support of my @v4vapp proposals in the past, my previous one expired this week.

I'd be really happy if you would continue supporting my work by voting on this proposal for the next 6 months:

Additionally you can also help this work with a vote for Brianoflondon's Witness using KeyChain or HiveSigner

If you have used v4v.app I'd really like to hear your feedback, and if you haven't I'd be happy to hear why or whether there are other things you want it to do.

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My previous @v4vapp proposal has expired. I have a new one which is running but unfunded right now. I'm still running @v4vapp and all my other services but I may have to increase the 0.8% fee to 2.0% if I continue to be unfunded.

Please consider asking your friends to vote for prop #244 or consider unvoting the HBD stabilizer explained below.

For understandable reasons in the current crypto climate it is harder to get funded by the DHF, I accept this so I'm asking a wider audience for help again. I will also redraft this proposal with more details (coming soon). I'm also looking for other funding sources.

Additionally you can also help with a vote for Brianoflondon's Witness using KeyChain or HiveSigner

If you have used v4v.app I'd really like to hear your feedback, and if you haven't I'd be happy to hear why or whether there are other things you want it to do.

  1. The bar to be funded is set by the HBD Stabilizer, the more votes that has, the more votes @v4vapp needs to be funded. If you want to reconsider supporting that proposal and unvote it, that would also help me (and others so you have to weigh this choice.)
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Thank you @taskmaster4450 you give us much hope for the future of Hive.
You write very intelligently, high quality, and with sincerity.
You are a great asset to Hive. Thank you.
Barb :)
!BBH
!CTP

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