The Hive Blockchain Is Far Technologically Far Ahead
When it comes to the technological development of blockchain, Hive stands ahead of the rest. This is the view of Blocktrades.
In this video I discuss some of what was done to improve the efficiency and capability of Hive. We are looking at something very powerful in the making.
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We cannot expect general population to "catch up" with this technology and just get Hive. This is religious mindset. It's hard to say about being far ahead in this context.
Instead we need to wrap Hive into digestible story, easy to incorporate for average Joe.
We are far ahead in terms of utility and decentralisation though. That's for sure.
The general population doesnt need to know about the technological angle. After all, few know about the advancements AWS is making. Yet they do understand when there are new features for their Salesforce application or when Netflix offers something new.
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The one-second irreversibility is quite nice and I do agree that the fast settlement time of the transaction is a good thing. It just doesn't make sense that actions takes like 3-5 business days to process anymore.
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The call for widespread web 3.o will reach critical mass in the next bull cycle. In each cycle, we have a certain theme, like Blockchain(Bitcoin), Smart contract(ETH), then DeFi. Simillarly we will have another theme in the next bull cycle, i.e. web 3.0. In that context, Hive leads this particular niche.
It is interesting how there seems to be a tie to what is embraced and the pricing of markets.
Simply how things are. What you state does make sense. It will likely be the talking point of the next bull.
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Summary:
Task has recently discussed the insights shared by Block Trades during a conversation on Cryptomaniacs regarding Hive's position in the blockchain industry. Block Trades highlighted that technologically, Hive is significantly ahead of other blockchains. Task emphasizes the importance of understanding these technical advancements, such as resource credit delegation and compression, in improving efficiency and reducing costs. He further delves into the concept of one-block irreversibility, which streamlines settlements and transaction speeds. Hive's capacity for quick settlements and minimal transaction times is compared favorably with other cryptocurrencies like Bitcoin and Litecoin. Task also highlights Hive's scalability, decentralization, and code efficiency, positioning it as a robust and future-proof blockchain platform for various applications.
Detailed Article:
In a recent video, Task elaborates on the insights shared by Block Trades during a conversation on Cryptomaniacs regarding Hive's advancements in the blockchain space. One key point highlighted by Block Trades is Hive's technological superiority compared to other blockchains. As a core developer, Block Trades underlines that Hive is significantly ahead in terms of technology, a sentiment that Task also shares based on his observations of developers' activities and discussions within the community.
Task underscores the significance of technical advancements like resource credit delegation and compression in enhancing Hive's efficiency and reducing operational costs. The recent hard fork brought about crucial changes, particularly in data size and blockchain management, making the system more resource-effective and streamlined. These developments have practical implications, especially for applications integrated with Hive.
A pivotal aspect discussed is one-block irreversibility, which positively impacts settlement processes. Task draws parallels between traditional banking settlements and Hive's rapid settlement times, emphasizing the blockchain's innovation in enhancing transaction speed and user experience. Quick and secure settlements within seconds differentiate Hive from other cryptocurrencies, reflecting its technological prowess and user-centric design.
Furthermore, Task delves into Hive's scalability and efficiency, emphasizing its capacity to handle increasing transaction volumes without compromising performance. By optimizing code efficiency, decentralization, and scalability, Hive emerges as a robust and future-proof blockchain platform. Task contrasts this with Ethereum's historical challenges, citing CryptoKitties' impact on scalability and the subsequent transitions Ethereum had to undergo. Hive's proactive approach to scalability and capacity planning reflects its strong foundation and commitment to supporting diverse applications and use cases.
In conclusion, Task reaffirms Hive's position as a technologically advanced and efficient blockchain ecosystem that offers a conducive environment for developers and users alike. The continuous focus on innovation, efficiency, and scalability positions Hive as a frontrunner in the rapidly evolving blockchain landscape, providing a robust foundation for the development of diverse applications and services.
Notice: This is an AI-generated summary based on a transcript of the video. The summarization of the videos in this channel was requested/approved by the channel owner.