Engage And Leofinance Showing The Power Of Hive

in LeoFinance6 months ago

Hive is promoting the idea of a community operated blockchain. There is no central foundation or single entity that is controlling what takes place. This is in stark contrast to what is taking place on other blockchains.

There are pros and cons to everything. One of the biggest drawbacks, as people saw with Steemit Inc, was the pace of development was relegated to that of a single company.

With a community driven initiative, we see something much different.

To start. there was a post yesterday by @engrave that is very technical. I did my best to sort through it with my limited understanding to be able to speak somewhat intelligently about it.

It pertained to condenser and the reworking it so that the file size for frontends was manageable. Upon initial setup, according to the post, it was about 1.5 GB.

After the rework, the file size got down to 58.25 MB.

Not only is this significantly less than when the process was started, it is drastically less than what Steemit has running.

https://peakd.com/hive-139531/@engrave/improvements-for-condenser-repository-continuous-integration-and-deployments

Steemit is more than 11 times the file size.

While this might not mean much to most of us non-developers, it is very important to the overall performance of the system. Smaller file sizes means better faster load times, less memory required and is less costly to operate.

It always comes back to the developers at this point and with so many looking at different aspects of the code, there are improvements made all over the place. This is highly attractive to other developers on the outside who know they can depend upon progress of the core pieces that they use.

Another big step is, one of my favorite tribes, is fully switching over to Hive.

Leofinance, formerly Steemleo, announced they are migrating totally away from Steem. The front end is already posting on Hive, yet the tokens are still tied to Steem via Steem-Engine. At some point today, this will not be the case.

The intention is to open up on Hive-Engine by giving a 1:1 swap. This will mean that all rewards are tied to the activity using the Hive based token as opposed to Steem. At the same time, all transactions done using LEO will be posted, via custom JSON, on the Hive blockchain.

We are also going to see the LeoDex being reconfigured to show Hive balances and enable Hive based transactions. The old version will still be operational so people can utilize that for any Steem based tokens they still use.

What is really exciting to me about this is the fact that Leofinance is now starting to brand independently. Instead of being promoting the concept of the blockchain, the idea is to establish a brand on its own. Of course, it is still tied to Hive, thus providing the benefit to the entire ecosystem.

For the full announcement by Leofinance:

https://leofinance.io/hive-167922/@steem.leo/steemleo-com-has-officially-migrated-to-leofinance-io-or-token-migration-will-happen-tomorrow

A part of the evolution of this entire industry is the branding and promotion of applications on their own. After all, does anyone care what cloud service Netflix uses? People use Netflix for what they offer, the cloud service only matters if things stop working.

It is the same here. Ultimately, people are not going to care what blockchain something is housed on. They are going to care about their favorite application and how that is growing. Naturally, the application builds upon and helps the success of an entire blockchain but that is not people's first thought.

This is the power of decentralization. Here is an example of two coordinated efforts going in completely different directions. Neither of them have anything to do with each other directly, yet are providing an overall impact in their own way. The team behind Engrave is doing their thing while the Leofiance team is pursuing their road map.

Imagine extrapolating this out over hundreds, if not thousands, of different projects. That is how we achieve exponential growth. A mishmash of ideas all running in every direction, many capturing attention and users from the outside.

Over time, as more are drawn, the process repeats itself. Each activity provides a foundation for something else to be built upon the top of it.

We will see how quickly this all unfolds.


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

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Posted via LeoFinance

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I was surprised how many entrepreneurs started off calling their project something STEEM-related. It is not that bad, I guess, when everyone is doing it - Steem Monsters, smartsteem, steemworld, steembottracker, steemleo, etc. I made the same mistake when I was in my 20s and started my first LLC. I called it something something Builders LLC. I still have the entity but I don't really do much "building" any more. I wished I had just called it something non-specific like, oh, I dunno, Amazon. Think if Jeff Bezos had called Amazon. Bezos' Book Shoppe or something stupid like that? He definitely would not be the richest man in the world if he did.

Posted via LeoFinance

When naming companies, it helps to be able to pay top-end lawyers. Amazon Bookstore in Minneapolis was around long before Amazon.com but Bezos paid top dollar for lawyers and Amazon Bookstore got destroyed.

I think many started to realize that, to reach outside of Steem and draw a bigger audience, being tied to a specific blockchain, in terms of branding, wasn't the best idea.

The switch to Hive reaffirmed that.

Posted via LeoFinance

Nothing like trials and tribulations to give folks a new perspective!

Posted via LeoFinance

yes. Same thing with handles. I'm @dhimmel everywhere and not tied to a single trick, trade, or platform in my handle!

I personally find this confusing. I post about crypto so should I now post on LeoFinance or post on Hive? I can't find a post explaining what the pros and cons of each option are.

I upvoted this 100 percent. And a comment. Fantastic Leo is doing this. But just to let you know and to put in a plug. Ctptalk has already done this. They are 100 percent on Hive now.

Hey @jongolson ;)

Bradley

There are a number that already transferred over.

CTP was one, dporn another.

We will see many end up on Hive I believe.

Posted via LeoFinance

Imagine extrapolating this out over hundreds, if not thousands, of different projects. That is how we achieve exponential growth. A mishmash of ideas all running in every direction, many capturing attention and users from the outside.

This is the key.. I was hoping with steemworld and partiko and esteem we would have that kind of thing.. apps that were diverse and independent nad all using the same blockchain but developing features specific to their own needs..

steem is now stuck with the steemit worldview and will suffer diversity until others step up and invest. Which is of course crazy on a centralized platform..

Great News that LeoFinance is making the move to Hive.
https://leofinance.io/@taskmaster4450le/q93i7d