Hive Success: Building Hive On Hive

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Many are wondering what it will take for Hive to make it big. We have a lot that is being developed yet cannot seem to breakthrough. What is holding Hive back? Why is it not mentioned in the same sentence as Ethereum and other blockchains.

One of the biggest advantages to Hive is the base layer is very tight. We are streamlined in the core code. There are a handful of functions the blockchain offers and that is it. Outside account management, posting, upvoting, governance, and rewards, the blockchain doesn't do much. There are no smart contracts which limit what developers can do.

This is likely where we fall short.

Hive's advantage is also a disadvantage at this point. It is something that needs correcting and, incidentally, is being worked on.

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Building Hive On Hive

Hive is decentralized. Many still take exception to this yet it is the case. At the core level, the Witnesses number over 100 at this time. That is a fair number of node. These are located all over the world which is also helpful.

We also have the consensus nodes. Those are the Top 20 who make decisions for the chain. Here is where the governance essentially resides. They are voted in based upon the stake people have via the powering up process. No one person can control the Witness pool since the distribution of tokens is such that no single person has more than 5%.

In the world of blockchain, this is putting it near the top of the list.

Hive has a great deal of scalability. Also, by keeping the code tight, there is a level of security added. Increasing this is vital since we all know what happens when security is lacking. However, it does limit what can be done on Hive by a great deal.

The primary areas we see this is with smart contracts. There are none available on Hive. Hence, it all has to be developed on the second layer.

It is here where we see the need to build Hive on Hive. What is required is another decentralized system that is tied into the Hive blockchain. This layer will contain smart contracts that can allow for the spinning up of many different things such as communities. There is also the potential for tokens and NFTs.

Essentially, here is where we can incorporate all the stuff Ethereum and other chains are utilizing.

Expanding Hive's Reach

Hive is very good at what it does. It is one of the leading account management systems in blockchain. By having accounts that users can name, along with fast and feeless transactions, the basic features are reliable and quick.

There is also the idea of censorship resistant. This is become a more noticeable issue. As this article is being written, Elon Musk is making noise about buying Twitter and making it open source. Whatever happens there shows how important it is to have a data system that cannot have accounts (or their posts) deleted.

Due to the factors mentioned earlier, Hive's tokens are free from regulation and government control. Since there is no entity behind the blockchain, anything at the base layer is outside that scope. There is no company to bring under the regulatory umbrella. Just think, who would they issue the banking license to?

All of this is paramount going forward. It is also something that needs to be duplicated as a second layer.

So many like control. This will be the downfall. Founder's stake and companies holding a large portion of the distribution are going to be at risk. The one who can offer what others have yet still have it mirroring what Hive accomplished will truly be revolutionary.

Does that mean everything will be decentralized? Not at all. In fact, there are certain things that should be operated on a traditional server based system. And the fact that many blockchains fall under that category is not the end of the world either. Some of them will be regulated and have the labs or foundations responsible for adherence. However, there is still the need for more.

This is where we can see Hive stepping in. We already accomplished, at the base layer, something that few out there are even close to. This means we have the potential to attach another layer, mirroring the base, which adds more services that will "compete" across all segments of the industry.

Here is where we could see Hive's reach truly expand.

Providing It All, Collectively

The idea of one chain doing it all is now in the past. This was the concept when some of the initial projects got underway. Ethereum, for example, wanted to become the world's virtual computer. This is now a fantasy.

What we are proposing here is taking Hive as a foundation for what is built on top. The fact we have a very efficient, scalable, and reliable blockchain is powerful. It is also feeless which opens up a host of other opportunities.

That said, it is not going to solve every problem. Hence, we see the path to create other chains tied into it, all of which offer different features and solve an assortment of problems that Hive cannot.

Fortunately, some of this is underway or being planned. We have the project by DLUX as well as the SpkNetwork. Both are tying into Hive in various ways. There is also the idea of building a second layer, smart contract system bounding around in Blocktrades head. After the hard fork, it is likely they start to roll out some maps with what might take place there. Then we have Hive-Engine providing a variety of services already to the community.

Elon Musk is right about one thing: open source is crucial. When infrastructure is build so that it can be duplicated by anyone, then we know the proper path is being followed. The key to this is that it creates resiliency.

Since no blockchain is going to provide it all, we see the need to keep expanding while eliminating different points of vulnerability. This is where we see the "collective solution" enter the equation. We can provide what others are doing, simply not all on the base layer.

Instead, we replicate that on the second layer, with part of it feeding into the base. This is where Hive becomes the solid foundation, providing the back end services along with some of the core functionality required.

From there, it all spreads outward.

Fixed Income Market

One of the reasons for the focus upon Hive developing a robust fixed income market is two-fold.

To start, this is something that can be resident at the base layer since much of it is already coded in through the Hive Savings feature. Here we are utilizing the stablecoin as a core element. Having a strong return with low risk has the potential to attract a lot of capital, something that will further stabilize the entire ecosystem.

The second reason is to have the value flow out from there. Anything that is generated can either be reinvested at the base level or moved to the second layer. Here is where we can see how expansion will accelerate. When users have access to resources, they can then involve themselves in projects on the second tier. This provides immediate funding.

Add in a bit of innovation from the entrepreneurs, community, and developers, and suddenly we have an ecosystem that is growing at triple digit rates.

It all starts at the base layer.

What are your thoughts on the idea of building Hive on Hive? Let us know in the comment section below.


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27 comments
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pixresteemer_incognito_angel_mini.png
Bang, I did it again... I just rehived your post!
Week 100 of my contest just started...you can now check the winners of the previous week!
!PIZZA
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Like you said, Hive is good at what it does, we just have to attempt doing what other blockchain does and even better it by doing it seamlessly. Building Hive on Hive seems fascinating, I look at what we've achieved in over and year and I think one thing we do is we move with speed and clarity.

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The speed will be interesting since a lot of it has to be done from scratch. However, there is a lot of code out there that can be used.

We will see how it all unfolds over the rest of the year.

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Yeah, I guess it'll take more time. We're very good with building from the scratch I guess, I guess recognizing and implementing is the steps to take to even begin.

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🙋🏼‍♂️ Like that part, since I think you are saying something very true:

“Does that mean everything will be decentralized? Not at all. In fact, there are certain things that should be operated on a traditional server based system. And the fact that many blockchains fall under that category is not the end of the world either.”

Like with digitalization itself it is for (decentralized) blockchains. A lot is possible but not everything necessary.

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What was the date this month for the next HardFork again? I haven't seen much about that beyond what you have written about in your posts. I am guessing I am just not following the right accounts.

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I dont know if a date was announced. If it was, I didnt see it.

There is supposedly a 30 day window that we give to the exchanges. I do not know if they were notified yet or not.

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Thanks for that.

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I think it was the end of this month

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Reading the article i tend to agree, if you build upon the base layer then the rest will follow potentially into triple digits, and with a good solid base the rest can be built well upon it :)

But great article and keep it up

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Building Hive on Hive is for me actually building Life on Hive. I simply love this place, the communities from here and the content creators that are spreading the wealth through their articles. Only if we had smart contracts and be able to move the action to the base layers, would probably boost the entire ecosystem and bring it into the spotlight.

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My life is here. LOL

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and THAT'S WHY HIVE WILL NEVER "BREAK OUT".

You people are blinded by your own delusions that essentially LIVING HERE is something masses would want to do.

YOU CHASE PENNIES...
NOT MANY OTHERS PUT SUCH A LOW VALUE OK THEIR TIME.

Sure, this can be lucrative..
If you're in on the SCAM THAT LEO RUNS...
BUT even you now admit that such an operation is NOT sustainable. The scam that LEO became is obvious to all now.

So realize that it's ALWAYS going to be a small group of people that live to chase smalltime gains like what HIVE offers.

Anyone with a decent bag of money knows how to make THAT MONEY MAKE MORE MONEY and thus FREE THEIR TIME.

You all here think that spending all your time here is a smart move? Really badly informed view of human behavior. WORKING DAILY FOR SMALL GAINS is the dream?

Plus there's the FACT that certain big wigs here don't and won't allow this to go mainstream..
They're happy to milk the cash cow that folks like you continue to put money into.

On an objective note: the points you raised about "censor resistant" ... "own your account" ... " communities " are simply buzz words. Only clowns that consider having a blue tick next to their name see that as must haves.

THE INTERNET is merely a stage and anyone can put THEIR ACT on for others through a plethora of avenues.

GET BANNED?

OK.. new ACT.

See.. It's only when you put money on that identity that you actually have to care what happens to it...

So IN REALITY: HIVE is only for people the a) NEED MONEY or b) WANT TO TAKE OTHER PEOPLES MONEY.

There is no tech developing here that will attract BIG MONEY PLAYERS that come to actually build wealth for themselves and the people that put trust and hope on them.

AND the fact that go-nowhere "projects" like SPK move at an embarrassingly slow speed shows that there is no real tech talent here...

AGAIN ONLY PEOPLE TAKING MONEY FROM FOOLS.

BUY LARUYNX BRO ...
DECENTRALIZED VIDEO WILL DESTROY MAINSTREAM BRO...
IF AND WHEN IT'S BUILT...
BUT BUY THEM FUCKEN NOTHING LARYNX TOKENS YOU FOOLS... ITS YOUR DUTY TO HIVE.

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Yeah, Hive is pretty great at what it does but I think it also lacks in quality control. There's no focus on quality any more, it feels very relationship-based.

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To me hive is not just a token ,hive is a blockchain's where everyone will depend on in the nearest future. Let building hive now so that we can enjoy it later.

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You mentioned Dlux and must admit I have no clue where they are at present and always hopeful. Interesting thoughts on Hive on Hive and would be great to see this take shape and no doubt when it does it will happen quickly.

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Hive is far more than a token and in time a force to be reckoned with.

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Hive is already pretty big to me. But what I would love to see are more initiatives that encourage communication. The Dbuzz feature could be a lot of fun. Unfortunately I rarely use it because anything I post ends up in my "all posts" tab. If it landed in comments and on the Dbuzz page instead, I would feel freer in using it. Those just don't feel like true posts to me for some reason.

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What's happening on Hive is awesome! Exciting!! Multiplying and expanding so much! So fast! And, wow is it complex!! Lol The opprtunities are life changing. I wonder if Elon Musk has heard of Hive?? What an adventure this life!!! What an adventure. Oh my. Endless possibilities as to what will happen next. ❤

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I think it's a good idea. Hive itself can't do everything but there isn't anything stopping people from building those tools on top of this. Do you think we will have a lot of side chains? I recall hearing that Hive Side Chain (what happened to this?), Dlux, and Hive Engine as the current side chains I have heard about.

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Why is it not mentioned in the same sentence as Ethereum and other blockchains.

I think another reason for this is the lack of a marketing team to promote Hive to people. Hive is pretty good at what it does, and there is a lot that is getting done, but the problem is so few people know about it...
Thanks for the nice article. Interesting to read as always

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Building Hive one Hive is a good idea. Hive alone is not enough to support every single one. Some can earn money through second layer tokens(this is also a part of Hive) and some can earn money directly from Hive itself. Second layer tokens can solve short coming of Hive itself.

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How does hive prevent one single entity from owning 5% or more of tokens? Is that a stupid question?

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