Hive: The Blockchain Vitalik Is Trying To Build

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Sometimes a gem is more valuable than we think. A lot are overlooking Hive yet there are some things taking place which are very telling. The creativity and innovation that is pouring out is amazing.

For example, we just got Punks On Hive as a recent addition. Only a couple weeks later, we have the first version of the white paper of a new form of liquidity with the Punkmaster Token (PUNKZ).

Of course, Ethereum has a ton more development which cannot be overstated. Projects are churned out there like an assembly line. However, many of them are unusable simply due to the high transaction fees. That is something that is being discussed.

A new proposal from Vitalik seeks to address this. While this could solve the problem short-term, it might end up with larger block sizes down the road.

That said it is likely that Ethereum does figure a great deal of this out. There simply are too many smart people involved in that chain not to. However, we are seeing a lot of effort (and time) to try to get to a basic level of usability.

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Secret Performance Feature

Perhaps what Vitalik needs is a secret performance feature.

It is not secret that Blocktrades and his team focus a great deal of attention to scaling. This is something that starts not long after the original hard fork and continues to this day.

We can see how much of a priority it is to him (from the latest development update).

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All kidding aside, we now get mention of something else. The secret performance feature is going to make it into the next hard fork (most likely the end of January).

hivescaling.png

It is always good when people are keeping an eye on the "plumbing". While users and entrepreneurs are focused upon the second layer, we are striving for continual improvement at the base layer. This is crucial considering the issues that Ethereum is having. Hive already scales better and it appears we just keep adding to it.

Takes Time For Things To Come Together

Many feel that decentralization is a negative because there is no cohesive focus. Instead, we get a situation where everyone is doing their own thing, resulting is us heading in every direction. This makes it hard to see the progress because things are incremental. The difference is they happen in many different areas.

This haphazard approach is actually natural. When a complex system is forming, a lot is taking place, much of which cannot be seen. Those pieces that are evident appear to be disconnect. In short, there is no unity.

However, as we know, forests become thriving ecosystems in spite of this approach. What was a barren field becomes a complex system through the growth and development of many pieces. None are "unified" yet all are connected. Eventually, as the pieces expand, we see a forest forming before our eyes.

Hive is that way. We have the baseline saplings upon which a host of species will receive their sustenance. In this forest, the mighty oaks are fast and feeless. This is built into our chain, something Vitalik is working hard to alleviate on Ethereum. It is a difficult process yet here Hive is, already at the promised land.

This is allowing for the development of other parts of the forest, such as the Hive Application Framework (HAF). Here we see a framework being created that will make development on Hive much easier. Those who are building applications can do so in what programming language they prefer while also knowing nothing about blockchain. Their focus is database integration while the blockchain experts are responsible for updating that. The applications only need to ensure they are tapped into the HAF, the core devs take care of the updating.

A lot of this is not sexy to users but is vital going forward. The situation with @splinterlands shows how traffic can increase very rapidly. Our goal is to get dozens of "Splinterlands" on Hive. To do so, we need to have our plumbing in order.

The Future Of Hive

There is no doubt that Ethereum has a lot of talent and even more money. For this reason, we can expect it to continue to be one of the leading chains. It is not going to whittle away and die.

However, that said, it does not mean it is the best solution. There are many applications that are truly impractical on a chain with direct fees. People simply are not going to pay to do many activities they are accustomed to doing for free. Building an application that requires the charging of fees could sabotage it before release.

Hive is taking a bit different approach than many other chains. Instead of having a dynamic leader or getting a lot of attention because of some big, well-known crypto personalities, we just keep grinding. Hive is for builders. Each day, thousands of people show up and add to the ecosystem. Here again, we are uncoordinated and acting like a pack of cats. Nevertheless, we can see the progress being made.

One of the things we are seeing is integration between some of the development. A few pieces of our forest are starting to merge together. No longer is it just a few trees standing in a field. Other things are filling in around it.

We recently had a pump in the price. While it is fun to watch, at the end of the day, that does nothing to help our forest. Many acknowledged the price and went about our business. The building does not stop.

It is always interesting to see one of the sharpest minds in blockchain trying to find a solution that Hive solved long ago. This is something that separates us.

Also, when we look at the token distribution, this is also favoring Hive. Many ecosystems are starting to approach the issues regarding pre-mines and founder's stakes. The situation with EOS is a prime example of who the community and the founders might be at odds with each other.

Hive already went through that. We forked out the pre-mine, putting it in a DAO to fund development. With the recent run up in price, the @hive.fund is getting fatter, at least in USD terms.

hivefund.png

That can fund a great deal of development. What is of benefit is the fund, in USD, will likely keep growing over time as the value of the ecosystem expands.

All this is creating resiliency. We are seeing things spreading out wider, while also generating more wealth in the entire ecosystem. Once again, Splinterlands took the lead with that, filling up people's wallets very nicely.

Of course, it continues.

At the core there are thousands of people on Hive for reasons other than the money. While that is the case on other chains, do they rival Hive in number? Most people involved in cryptocurrency are only concerned with the mooning. On Hive, it is as if many simply take that for granted. It will happen at some point so why fret about it? Instead, let's focus upon something bigger.

We know Vitalik has kept an eye on Hive. Perhaps it is because we are heading, in many ways, where he wants to go. What Vitalik is trying to build, to a degree, already exists with Hive.

For this reason, we all can be optimistic about where things are heading.

Now to find out what the secret performance feature is. Maybe that will truly turbo-charge our chain.

Hive will be a Ferrari™ with everyone else as a Ford Fiesta™.


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

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Bang, I did it again... I just rehived your post!
Week 82 of my contest just started...you can now check the winners of the previous week!
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I am a believer in Hive, performance is very important and I am happy that they pay such great attention to that, but as a developer what bothers me is that I can't catch up with the development. It is hard to get started. I would love to help but developing for Hive is not easy. The dapps are not (yet) truly decentralized and that bothers me a bit. I have huge hopes on Hive Application Framework though. The future is bright and hope it becomes more accessible for devs with time.

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It is still a work in progress. That is for sure. Keep in mind that the chain is only in the hands of the community for about 20 months. So there was a lot to do since where we were starting at saw a lot of the code overlooked.

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I wonder, at some point could Etherium see the scalability of Hive and want to join forces?

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Two separate technologies. There will be layer 2 solutions that bridge between the two, we are already seeing it with token movement.

But they are not going to join. In fact, Ethereum is big enough that it can do its think without anyone else.

Hive is joining with the likes of Telos and Peerplays.

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Hive will be a Ferrari™ with everyone else as a Ford Fiesta™.

Oh, the anticipation. Haha. 😂
But Ethereum (ETH) is really much behind the things with these incredible high gas fees.

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That is true for the average person but it is just a numbers game. If the numbers are big enough, a $200 fee isnt that big a deal.

And the money is on Ethereum which makes for very big numbers.

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(Edited)

I think that's enough fund with @hive.fund to support the developments going around Hive.

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Random question but have you done a “the whales are losing power” post in a while? I can’t remember the last time I saw one, but I might have missed them.

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No I havent. To be honest stopped then as Hive-Engine started to get more popular. We had a lot of people who started to invest their resources there.

Those posts were applicable when we were all on Hive (Steem) only dealing in that. Now we are dealing in H-E, Splinterlands, and HivePunks along with all the Cubfinance and other NFTs.

Hence the wealth distribution is changed. Basically, if need be, there are more resources to change the distribution rapidly if need be. But Hive/HP is no longer the sole focus. Even myself, I started to add to my positions by saving HBD.

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I think etheruem will continue being one of the best, because its sophisticated and the money will always be a reason why Project owners will keep building on it. But then, hive is the blockchain to beat, we're bettering etheruem in so many aspects. I feel the etheruem blockchain is inevitable and somehow people are left with no choice but to pay those ridiculous fees.

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Well in fairness they are working on the fees. At some point, I believe they will get it right (or at least manageable).

That said, Hive, when comparing, has a lot to offer. We are not as big, nowhere near the money, nor the developers, but we are expanding. Plus, we have some core features that make this place very appealing.

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I always thought that you were too optimistic but now I know that you are right about the incredible potential of Hive blockchain.

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Ride of die as the SpkNetwork guys say.

When you have a general idea of where things are going, it is easy to be optimistic. The story of Hive was pretty clear, albeit the path to get there was murky. Nevertheless, anything put forth as a hindrance was not that overwhelming.

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Those who are building applications can do so in what programming language they prefer while also knowing nothing about blockchain.

If I understand correctly the hidden point in these words then I agree and no doubt many many programmers/coders are going to join the Hive ecosystem and this is showing a massive future expansion of the ecosystem.

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Solidity and C++ is not common for most programmers. The HAF will allow them to use whatever they are comfortable with.

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Ethereum already has L2 solutions that are free TX and up to 1 million TX per second. L1 ethereum will next year be over 1000 tx per second, then onto 10k, 100k, etc

L2 already has it ready and people have already started switching to L2 for Immutable.

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I think until changes are made to discourage the rampant downvote abuse increasingly driving users away from the platform, Hive will not be as inviting as it could be, no matter the value of the coin and number of diverse features. It has much potential, but when a handful of whales can zero out just about any post, no matter the value, simply because they don't like seeing content they disagree with getting rewards, Hive will not shine in the world of cryptocurrency and blockchain technology which by its very nature is largely used by those seeking censorship resistant free-speech friendly platforms... Until this growing problem is addressed, all other development seems to me to be a distraction from overcoming the biggest hurdle to making Hive into the true gem it could be.

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Is this 2017? Arent there a number of front ends? Arent there many different tokens? If a Hive whale downvotes a post, does that have much impact on Leofinance, Stemgeeks, CTP, or a Palnet?

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Hive is literally one of the best chains out there, it just needs developers to turn their attention to it.

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I think that is the hope with HAF.

We could see the potential of many more developers signing on if they have the ability to code in languages they were using for years.

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The only thing I can say about hive is that the growth is inevitable.

I see hive penetrating all the countries.

I don't know how many active users are on hive right now but I see at least 50000 active users in every country using the blickchain for different.

I think the potential of hive is something that is beyond our imagination.

Although I feel at this current rate of growth, we will be hitting top 50 coins on coin market cap in 5 years

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Hard to tell the number of users since we have so many different types of users. In fact the bloggers are starting to be overwhelmed by the gamers.

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I think gamers are going to overtake the space soon..

Solinterlands is doing great things.

I can wait to see a collaboration between a top gaming company like PlayStation and hive.

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I would say that is the first mass adoption wave. It makes sense that gamers are the ones who are going to be into this. They understand both in game currencies and assets.

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Stoked about the secret performance feature 🔜. I’m here for everything that’ll make give even better. Something I’ll like to see is a discussion about AMM on hive.

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Yeah no idea what it is but Blocktrades seems to be excited so that is enough for me. He doesnt seem to get too excited about things so I am sure, what he has planned, is very powerful.

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I could never understand how people could live with the fees but I think it's just because people aren't making losing transactions so they can bear it. However I don't think it will scale and it's one of the reasons why I am so bullish on HIVE. It's also nice to know the optimization work underneath is still in progress.

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When you are moving $150K, is a $200 fee really that big a deal?

The numbers on Ethereum as so huge that it is amazing.

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@taskmaster4450le vetalik will realize soon hive is a blockchain which he is trying to develop in the name of Ethereum

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I believe he already has a fondness for Hive. Him and Larimer went at it for years but, with what Vitalik is dealing with, I think he wishes they took another approach.

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Great informative post. The beauty of Hive is that there is just so much going on. I still keep learning of new projects, apps and communities. I agree also, most people here aren't here because they want Hive to moon. They are here for the social interaction and utility provided by services using the chain.

Looking forward to efficiency boost. Hive isn't widely known yet but even that, is just a matter of time.

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Hard to keep up with all that is taking place. We are going to see more of it once HAF is fully operational and ready to be used. I am not sure of the process but I do believe there will be some time required for some applications to be created.

Nevertheless, over the next couple years, we could see a ton of stuff rolling out.

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Sleep less. Sun glasses for tired eyes?

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Great article. But Hive is built on eth?

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Hive has nothing to do with Ethereum. Totally separate code bases.

Ethereum was developed by Vitalik etal and Hive is a fork of Steem, a Dan Larimer creation.

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Our goal is to get dozens of "Splinterlands" on Hive.

We will have that to.

Hive is not an Ethereum killer, but it's definitely an alternative... or maybe it's just one of its kind. I had a time when I was all in ETH, but not anymore. I've come to a point where I don't want to touch Ethereum, after paying so much for so little. Hive is basically free. We might not have much marketing working for Hive but I believe it's just a matter of time before this thing will start climbing positions on charts and the masses will start acknowledge it.

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I still am holding some ETH and believe the token will do sensational. Even if it is a change for massive transactions, there is a market for that with bankers and such.

So I dont think they are going to fail in any way. As for the "Ethereum Killers", we heard about that for years and so far, no contenders.

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I'm not saying either that it's going to fail, but it's going to have a targeted users base, meanwhile Hive is for everyone.

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Hi @acesontop
The marketcap recently surpassed one billion dollars. I wrote an article on it and I am encouraging the use of the Hash Tag #BillionDollarHive on Twitter and here on Hive. I would appreciate your support.
Thank you,
@shortsegments

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I've used pretty much every #dex or #dapp and it's so fucking annoying to see how slow, laggy and expensive they get. Like so much capital for nothing. I can't find my transaction for half an hour, there's constantly something stressing me. It's a fucking wild west.

#ADA don't have smart contract after billions in capital, 90 academic papers...lol

And here we have Hive, constantly moving forward. No VCs, no HFs and yet the development is remarkable and constant.

I really think that once hive deploys L2 SC things might change drastically. The fact that everything runs smoothly is good enough for me. No delays, no laggs, and basically no fees...

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I did a swap yesterday, my transaction on HE, the other on BSC. Mine went through in secs, no fees. The other took like 10 minutes with all the issues.

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You start to appreciate what you have once you try something else.

Hive gonna be huge tho. 👀

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@taskmaster4450 wow amazing post my friend
Hive being feeless and fast is great because of the infrustructure in place.
As we move forward along side other blockchains we will start to see more and more ways they can all work and function together.
It is in the best interest of all decentralized web3.
We are already seeing cross over connections through various platforms on Hive like Splinterlands.
Where multiple wallet connections from different chains are drawn from.
Just a matter of time before these connections are increased and developed.
Have the best day buddy:)

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Having integration to other chains with wallets only makes sense. There is no reason no to do that. At some point, it will make an easier way for people to get onto Hive with their other resources.

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Absolutely can't wait my friend it is very exciting to watch this all unfold and develop.
Have an awesome weeknd @taskmaster4450
:)

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I think he was quite interested in the potential risks of Proof Of Stake Blockchains during the Justin Sun purchase of Steemit Inc.

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Thanks for continuing to share your thoughts on the Hive/Ethereum comparison.

I normally stick to just your Leo account posts, but this one was too important to ignore.

Hive really is the blockchain that Vitalik is trying to build.

It's wild.

We know he has followed our community's evolution from Steem to Hive and continues to study it.

His Justin Sun moment is inevitable and with the sheer size that Ethereum has gotten to, the fallout will be huge.

Not to mention the precedent it will set for crypto founders will have an immense effect on the entire industry.

Bring on the age of community control!

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Yeah he is helping us to move forward. It isnt as if he is a cheerleader but I think he has a quiet respect for what is taking place.

This is a bonus for us and means that as we expand, there are some of the OG who are keeping an eye on things.

Now we are on Shrem's radar.

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We need to get Shrem on Cryptomaniacs..

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There is going to be a come to Jesus moment for these founder staked chains as communities realise they need to move away from these stakes or face highly restrictive possibly devastating regulation. Charlie shrem also goes into this issue in our recent interview with him

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Taskmaster, what if you are not a Builder but have ideas for DAPPS on Hive? Is there a Turnkey system for creating Dapps ? What is the process for building on HIVE and where do you find developers to help build DAPPS ?

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Well i'm in your position. I'm not a builder. However i just used blockchain dapps you can add to plugins like on wordpress. Wordpress like systems are powerful and in some cases it can help you on a boostrapped budget. The issue is blockchain devs aren't just regular devs. They proobably going to cost you a ton of money. if it's a blockchain you probably could spend $400k. You can check out my project bitcoin myk and see if it's anything there you like. it was mostly a turnkey operation for myself. That's how i got to this point. It's just many ideas on hive i don't agree with. That i think could make hive better.

When hive was steem one idea with the smart media tokens were to make tehm turnkey. Just addons. So that never came to fruition and i guess it never came to fruition on hive yet either. So this was my workaround.

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Not sure what you are referring to. The HAF is going to make easier development but I believe there is still coding required.

If you have an idea, seek out other developers. Perhaps, if it fits, maybe drop a DM to someone like Khal. Perhaps that is something that could be integrated into what he is producing.

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Well i do think Vitalik is a very smart guy. He's one of the few people in the space that both has a sophisticated educational background in money as well as the technical blockchain. So i'm very confident Vitalik is aware and on top of anything that would be cutting edge and desirable.

Unfortunately i don't think Vitalik shares your view. He's one of the few people left in crypto i respect and take seriously. Although he's made some errors i'm not sure why. He's made some errors but i think he's fully up to speed on hive and has spoken of it directly and indirectly.

So Hive is not some secret that's flown under his nose. Hive has some good things about it. Although it's a far cry from investment of billions of dollars and security and what ethereum is. So Vitalik is aware of that. I think he sees more of a solution in ethereum forks and systems than anything.

That's probably where the solution will lie. For instance i introduced universal basic income to hive. Who on here so far bought into it.? Hardly anybody you know why? Because this not a very smart blockchain.

Now let's look at the data of what you have with Vitalik. What did Vitalik do as soon as a ubi project was launched on ethereum? He invested in it..Proof of Humanity. Did he invest in hive? Are we aware of any position that Vitalik has in HIve? No.

Right there in my creating one of the most importance projects in blockchain history. My biggest mistake was launching it on Hive.. I should have launched it on Ethereum. Vitalik would be smart enough to support it. As we're multichain that's fine. We can be on ethereum as well and we will probably launch on there next month.

However my point is this..You see what Vitalik is doing and what he is not doing. Now he's already pretty much voiced he'd never accept the security protocols with a system like Hive. That's never ever going to happen. You can forget that. I think you know the reasons why.

Thats just the reality of the situation. You research Vitalik enough you see he says all this in interviews. Now his record shows he invest in projects on ethereum that are ubi projects like proof of humanity. It shows he doesn't invest in projects like Hive. Hive has some good components but it's going to take more than that.

Whereas i do agree within an ecosystem it's a nice idea for it to evolve on it's own. That's just not reality to how this works. For example everyone knows whether we like it or not. Centralization is the best type of system you can have as far as getting things done. Decentralization is idea but it's messy and may or may not come together. I think the monst effective outcome lies some place in the middle. That's my take on it.

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I really dont know all that you speak about in this article, i just know that I am sticking with hive.

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We are slowly moving towards our end goal to be the best community and building the projects which are only uphill now is on Etherum.

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“It is always interesting to see one of the sharpest minds in blockchain trying to find a solution that Hive solved long ago. This is something that separates us.”

Amazing point of view! Reading your article, I could not help but smile. I love your analogies: “forest,” “Promised Land,” “Ferrari,” . . . I love when you wrote that Hive is for “builders” and the focus is the expansion of its value. Though I came to know Hive unintentionally through Splinterlands, I am grateful to read a confirmation from someone who knows what he writes about the leadership provided by this game in terms of giving financial incentives to anyone. Yes, I am looking forward to that “dozens of Splinterlands” to be built on this very promising blockchain.

Blessings!

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This is actually very informative and a call as well for every user to keep on adding their small inputs as continuous effort will show improvement.
Also kudos to the continuous proposals for development being churned out on hive ,slow and steady will get us there.

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Having a price point so positive
could be the beginning of many collaboration.
As you say price is the attitude of the moment.
It does not take away the thunder and desire
for newbie to hold and keep less Hive in the exchange.
If the price stays that way, it will be a new low and resistance to build upon.

!BEER

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These are exciting days to be in on what's new. !BEER

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Wow I am actually glad I used the proof of brain front end as it helped me to discover your post and it was an amazing read thanks. I'm still relatively new to hive so still trying to absorb all of this information. This is quite an extensive and impressive ecosystem, but there are some things I disagree with in terms of the downvoting process, but I can definitely see the beauty of the network it has already developed.

One of the biggest things I believe that hive has going for it is that it makes time to host VR events with hivefest not to mention it also coincides with people like splinterlands hosting dygycon. These are great ways to create exposure into the VR space. In my opinion it will be through gaming/VR that brings about a more rapid growth process and understanding of crypto causing the space to 10x.

Unfortunately I am a bit late to everything as I've been consumed with other projects and only barely 3 months in crypto and 2 months within crypto gaming if that, but the application of it I feel like is incredible. I actually believe hive has the network and utility to be able to beat Cardano out in terms of microloaning if that is in anyone's business objectives.

I really cannot wait to see how this space continues to develop into the future


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Looks like since the last episode of Crypto Maniacs you found some time to see what Blocktrades was talking about (as did I). He didn't say much, but maybe it's best he kept it as a surprise. Their gift for the holidays season, I suppose, to the Hive community. :)

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As a newbie on Hive all these information gives me a better understanding of it. Thank you all

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Nice. Now is the time for high volumes of quality Hive Content. Tweeted in an attempt to let the world know who we are… Plus I retweet the Hive chart as well.. it can’t hurt :)
😂

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Hi @taskmaster,
I didn’t know this:

We know Vitalik has kept an eye on Hive. Perhaps it is because we are heading, in many ways, where he wants to go. What Vitalik is trying to build, to a degree, already exists with Hive.

Do you think Peerplays could be used to link us to Ethereum somehow as the social media arm of Ethereum?

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