Building On Hive
Over the last week, we discussed the potential of Hive and what it can do in the market. We are looking at something very unique. Yesterday, we covered the Hive economy along with the idea of Hive as a city. The concept of digital real estate is crucial in our thinking.
In this article, we will further delve into the idea of business on Hive.
When we think about the establishment of the old prairie towns, what happened? First, a bunch of people found some unoccupied land that met their needs. There they decided to set up camp. Of course, without anything built, they went ahead and pitched tents.
After they built their temporary shelter, the town was the next on the list. Here they started to construct different buildings. Before any commerce could take place, physical infrastructure was required.
Usually, one of the first things built was a church. The second was the saloon (often with a brothel tied to it). After that, the blacksmith, general store, hotel, and other necessary businesses formed. Of course, housing was erected as people claimed different land to farm on.
Hive is no different. The land is the blockchain. This is the foundation from everything that is built. From there, we need infrastructure (building) so that businesses can be built. Some require only what is offered at the base layer while other applications need more.
From this, we can see the idea of businesses being built. Here is where Hive needs people to create the saloons, general store, and whatever other businesses our eventual city will have.
The final point is what we will discuss today.
This is a project that was put together by @brianoflondon. He recently submitted another proposal to receive funding from the Decentralized Hive Fund (DHF). This is something on Hive that is inserting itself directly into the middle of the revolution taking place within the podcasting industry. There is a move to make the indexing decentralized, instead of everyone relying upon (and being beholden to) the likes of Apple and Google.
Essentially, Podping uses Hive simply as a decentralized database. There is nothing fancy about it. The system places the link of any new episode of a podcast on the blockchain, a move that allows any podcasting application to read it. Of course, the Podping software makes this seamless by transmitting the data out for those entities to access.
What is important to note is how this affects the podcasting applications. To them, this is infrastructure. It is a core component of their business. They need something reliable, which the Hive blockchain is, along with being permanent. Obviously, companies do not want to switch the essential pieces of their business too often.
That means that getting them to convert might be a challenge. However, once they switch to Podping, they will not revert back (as long as the system meets their needs).
When it comes to value, what is that worth? Here is where something that is built on Hive could be very valuable since it is a core component of an entire industry.
As an aside, the last time Brian was on the Cryptomaniacs show, he mentioned that around 14% of all podcasting indexed data was being pulled via Podping. The podcasting applications are starting to pick up on this.
This is another feature that is being built on Hive. In fact, there is a connection to Podping on this one.
Basically, we are looking at a revamping on the entire livestreaming industry. How would you like to put together a stream and to be able to receive tips? That might be a feature that is nice for those who put together regular shows.
Here is what was said about it:
Right now some of the DHF funds I've received will be going to help the developer of HiveTube because he is going to be interfacing HiveTube, which is a fork of PeerTube, with Podping. This could make HiveTube the first turnkey solution to putting out livestreams with cross-app Podping notifications. I'll talk a lot more about this in the future.
One of the important features being built into Podping is notifications. The system is being designed that that people can be alerted when one of their favorite broadcasts goes live.
Couple this with the idea of being rewarded for the stream along with censorship resistance and we see how there is another component to the Hive ecosystem that could carry great value.
So what is HiveTube?
The Hive-Tube plugin monetizes any streaming media via the Hive blockchain. The best part? It’s totally FREE.
Zero Fees and Zero KYC.
That is an interesting idea. It is easy to see how this could be tied to Podping. Of course, it is important to mention that every video uploaded to 3Speak is now a podcast.
There are evidently 3 ways people can earn using this plugin:
- BECOME A SITE HOST OR SYNDICATE
- BE A MUSICIAN, CONTENT CREATOR, VLOGGER OR PODCASTER
- JOIN THE AUDIENCE - WATCH OR LISTEN TO YOUR FAVORITE CONTENT
This is all tied to the Hive blockchain. Are we seeing the potential to make an impact within the streaming industry also?
Then we have this:
Podping integration completed! Audio and video Podcasts are now fully decentralized, federated, syndicated, monetized and uncensorable! No more incessant polling. Full discoverable history is included. Within literally 3-seconds of a Podcast going live, every Podcasting app in the world can now be notified, discover and play your content. Viewers and Listeners rejoice!
For more information on this, check out their site.
It seems like it is already in place.
Our little village is growing. We are now moving towards a town.
This is a proof-of-concept that was started 4 or 5 months ago. The idea was to take the Hive blockchain and utilize the decentralized text database feature. Since it is permissionless, we can build any text database we want.
The focus of LeoGlossary is more akin to Investopedia. It is structured around the financial, investing, and cryptocurrency industries. Applications terms are created, defined, and links provided for use in articles. This should ultimately help the ranking in the search engines while providing an immutable repository of information.
What is interesting is that we can apply this concept to most anything. While we know about Wikipedia, the concern there is they keep asking for money. It is obvious their server costs are getting overwhelming. What happens if that disappears? There goes a valuable Internet resource.
Framing Hive as a database can really get the ideas flowing. Here are a few:
a database of geographic locations. This could give history, places of interest, hotels, etc. Perhaps a travel site could them tap into it to provide additional information for its users.
CineTV start to construct a database of films, television shows, and actors/actresses. It is already in the genre, why not have a feeder system?
a music database that offers information regarding artists, albums, and musical terms. This is ideal for the BroadcastDAO.
data pertaining to the major sports. This is a world of stats and numbers. A lot of this can be build in a decentralized database and other applications can seek to integrate it.
The construction of this is only the first leg. Things really start to evolve when others look at it. Innovation starts to take over and more people get involved.
As for LeoGlossary, we see this written in an article:
The goals of the LeoGlossary are generally very simple, we have always had in mind to increase the number of users participating in this project and the main objective for this to be achieved is to continue promoting our project with nice posts and high quality content that nourishes the new reader with knowledge and above all to be willing to help other users to understand this.
Another thing is that we are working very hard on the LeoGlossary at the moment and especially to integrate AI in the Leofinance front-end, many ideas to improve the LeoGlossary are being proposed and one of these ideas is to have the @leoglossary in several languages.
This exemplifies what happens with Web 3.0. The above quote is not from one of my articles. In fact, that has nothing to do with me. Thus, it shows that even though I started LeoGlossary, I do not own it. The data is on the blockchain and is there for anyone to use.
These example show how we get cross pollination going on Hive. This is one of the core components of Web 3.0. Since things are open source (or open data), others can take what was built and expand upon it. Things are not locked behind a paywall or the data housed on centralized, company servers.
Some of the ideas mentioned above could be done with the intention of front ends (either new or existing) picking up on the data provided and adding value to their applications. Of course, I am sure anyone reading this can come up with other ideas for databases.
This is what is going to separate Hive from many of the other blockchains out there. The construction of businesses is vital. Yet, to get to that point, we need more infrastructure. Fortunately, those with the skills are working on that.
In the meantime, everyone else who is on Hive, and lacks dev skills, can be better served by looking at themselves as a business. What is your niche going to be? Another way of looking at this is what will be your section of this town we are creating?
We are dealing with a permissionless world. One is free to build as he or she fits. There is no centralized planning. The old "find a need, fill the need" applies.
This is what Hive offers. Who is going to take advantage of it?
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