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Can Hive Be The Winner Take Most? by taskmaster4450

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hive-167922 · @taskmaster4450 ·
$53.10
Can Hive Be The Winner Take Most?
The answer to this question is going to depend upon what is built on top of it.  For now, we are [speculation](https://leofinance.io/posts/@leoglossary/leoglossary-speculation) due to the fact that Hive still lacks a robust [smart contract](https://leofinance.io/posts/@leoglossary/leoglossary-smart-contract) platform that is accessible by any developer.  That means we are handicapped when it comes to the conversation.

However, that is not always going to be the case.  We know there are a couple projects working on bringing that to light.  This brings the conversation back to [technology](https://leofinance.io/posts/@leoglossary/leoglossary-technology).

Yesterday, we discussed how this is a field where [Winner Takes Most](https://leofinance.io/posts/taskmaster4450/winner-takes-most-technology-concept-for-cryptocurrency).  This is going to become a crucial concept within [cryptocurrency](https://leofinance.io/posts/@leoglossary/cryptocurrency).  It is also a huge topic of conversation when dealing at the [blockchain](https://leofinance.io/posts/@leoglossary/blockchain) level.

Many over look the power of the [networks](https://leofinance.io/posts/@leoglossary/leoglossary-network-effect) we discuss on a regular basis.  Whether it is from a data storage or [scaling](https://leofinance.io/posts/@leoglossary/leoglossary-scability-scaling) standpoint, both has to be addressed.

In this article we will discuss key points that could make Hive one of the leading blockchains.

 https://images.hive.blog/DQmVBKCYR4nBYCCnUt76GVJhEuYZLBB35V5HJYkyNaJ82dp/image.png 

<center>[Source](https://transcosmos.co.uk/wp-content/uploads/2015/10/technology-customer-support1.jpg)</center>

## Scalability  And Smart Contracts

Here is where things get instantly cloudy.

When it comes to smart contracts, the two leading blockchains have issues.  With [Bitcoin](https://leofinance.io/posts/@leoglossary/leoglossary-bitcoin), as of now, there are no smart contracts available.  This might be added at a later date as the [taproot](https://leofinance.io/posts/@leoglossary/leoglossary-taproot-bitcoin) upgrade supposedly allowed for it.  However, at this time, we have no idea if there are plans to make that go live.

Ethereum, which is the leading smart contract chain, has them all resident at the [base layer](https://leofinance.io/posts/@leoglossary/leoglossary-base-layer-blockchain).  This is something that was discussed at length with Hive and the decision is not to have them at that layer.  Instead, smart contracts will reside on a [sidechain](https://leofinance.io/posts/@leoglossary/leoglossary-sidechain), using Hive as the [settlement](https://leofinance.io/posts/@leoglossary/leoglossary-settlement-financial) layer.

This allows for a great deal more scalability.  We know both Bitcoin and Ethereum have issues here.  Another project is having the smart contracts at the base layer means all [data](https://leofinance.io/posts/@leoglossary/leoglossary-data) is on each [node](https://leofinance.io/posts/@leoglossary/leoglossary-node).  This can get cumbersome quickly.

With Hive, that is not the case.  Even with a project like VSC, the idea is that only a certain number of nodes will house each contract.  This allows for horizontal scaling since nodes can be added to facilitate more contracts.

This is going to be something that is imperative to watch.  How this gets resolved could be the standard by which the industry moves forward.

## Data Center

A network like Hive is a data center for text.  We can post whatever is desired [on chain](https://leofinance.io/posts/@leoglossary/leoglossary-on-chain), exercising the immutable nature of the [database](https://leofinance.io/posts/@leoglossary/leoglossary-database).  This is dependent only upon the resource credits someone has to operate.  

Decentralized data is something that is often discussed yet we do not see it taking place.  Where is it happening?  We know traditional companies, especially [social media](https://leofinance.io/posts/@leoglossary/leoglossary-social-media) has nothing of the sort.  In fact, they have no interest.

At the same time, immutability is non-existent.  We see the issue where [accounts](https://leofinance.io/posts/@leoglossary/leoglossary-account) are controlled by those same entities.  Even something like International Movie Database (IMDB) is prostituted since Amazon purchased it.  The ratings cannot be trusted as the company caters to its own shows and films.

[Decentralization](https://leofinance.io/posts/@leoglossary/leoglossary-decentralization) solves this.  Imagine a database similar to this on Hive.  Then all votes could be recorded via on chain polling, to truly resolve whether something was gamified.

It is important to house both data and [transactions](https://leofinance.io/posts/@leoglossary/leoglossary-transaction).  Bitcoin is an immutable database of financial transactions yet has no other data for the most post.  Ethereum allows for this but, in addition to scaling, is being questioned about centralization.  We will see how this unfolds in the long run.

## Social Media

We discussed the merging of social media and [finance](https://leofinance.io/posts/@leoglossary/leoglossary-finance) a great deal.  This, to me, is the golden goose.  When it comes to [Web 3.0](https://leofinance.io/posts/@leoglossary/leoglossary-web-3-0), here is where I see the major difference.  [Web 2.0](https://leofinance.io/posts/@leoglossary/leoglossary-web-2-0) is powerful in the siloes that were built by the likes of [Facebook](https://leofinance.io/posts/@leoglossary/leoglossary-facebook) and [Twitter](https://leofinance.io/posts/@leoglossary/leoglossary-twitter).  However, when we look at a new paradigm, we see Hive having a couple advantages.

The fact there are no direct [transaction fees](https://leofinance.io/posts/@leoglossary/leoglossary-transaction-fee) is beyond description.  This is one of the most overlooked factors of Hive.  Other projects can construct something using a blockchain with fees if it does most of the activity off chain.  This might be a viable solution but at the expense of decentralization.

From a financial perspective, there is a factor to consider.  The [one block irreversibility](https://leofinance.io/posts/@leoglossary/leoglossary-one-block-irreversibility-hive) means that almost all transactions on Hive are fully settled in under 2 seconds.  Consider what this means in the future.  When coupled with smart contract technology, we could see [synthetic assets](https://leofinance.io/posts/@leoglossary/leoglossary-synthetic-assets) created.  Take a look at the stock market.  It takes 2-3 days for a stock transaction to fully settle.  With Hive, this could be done in a matter of seconds.

It radically changes the [payment](https://leofinance.io/posts/@leoglossary/leoglossary-payment) system.  Here we have the ability to offer feeless accounts to [merchants](https://leofinance.io/posts/@leoglossary/leoglossary-merchant) with instant, irreversible settlements.  That is something the existing financial system does not have, nor will it.  With so many gatekeepers involved, it is impossible for them to eliminate the times.  Each layer has its own procedure for settling.  Operate internationally, and we can be talking weeks.

All of this requires scaling.  It reverts back to what we started with.  While other blockchains are dealing with issues already.  Hive handled 4 million per day without issue.  We are certain the level is much higher with focus still being given to that.

## In Conclusion

When it comes to technology, Hive matches up well.  While it is true the best technology does not always win, when it is the plumbing, i.e. [infrastructure](https://leofinance.io/posts/@leoglossary/leoglossary-infrastructure-computer), it is crucial.  It is hard to be the winning technology when the foundation is lacking, especially in the [digital](https://leofinance.io/posts/@leoglossary/leoglossary-digital) realm.  

Does this mean Hive will stand out?  Not necessarily.  We have to keep in mind a lot of the success is going to depend upon what is built at the second layer.  The projects that attract users are vital.  If something does go viral and get a lot of sign ups, it has a chance.  However, if things remain hidden, then we are going be in for a long slog.

If we take this from the bottom up, we can see how things are starting to fall into place.  While many are working on their applications, many others are tending to the infrastructure issues.

When this is complete, we will see what we have.  To me, the potential is there to make a big statement within this industry.

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



https://images.hive.blog/0x0/https://files.peakd.com/file/peakd-hive/doze/MkkDNhyH-2020_04_13_16_57_48.gif

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![screen_vision2025_1.png](https://images.hive.blog/DQmXEv6MvKTCurBzSdbKjWzFadJwfJfJfmA2We9EwD5q5Vb/screen_vision2025_1.png)

logo by @st8z

* [What is Hive](https://leofinance.io/@leoglossary/leoglossary-what-is-hive)



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vote details (734)
@behiver ·
$0.07
The feeless transactions and near-instant settlements are surely a selling point for the Hive blockchain. I was telling someone about these and he didn't believe me how come a blockchain can afford feeless transactions - Delegated Proof of Stake is a key factor for Hive spreading into the real world.
👍  ,
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@taskmaster4450le · 
Without a doubt it is a huge selling point.  Transacting on Hive is an investment, not an expense.  That is how I describe it.  It is like Twitter Blue, where having the additional features like posting come with payment (or earning).  But instead of paying a fee or subscription, make the investment and you are free to operate.

This opens up the door for so many things.

Posted Using [LeoFinance Alpha](https://leofinance.io/@taskmaster4450le/re-behiver-kp9zeyjb)
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@leonordomonol ·
$0.08
Hive has a sturdy foundation for magic to take place upon it. I think what's pulling Ethereum back, especially during the bull season, is that the sheer amount of fees often times becomes an impeding factor for most people. I wrote an article way back [on this topic](https://peakd.com/hive-167922/@leonordomonol/matic-skyrocketed-by-necessity). Essentially, if enough time is permitted to pass, a trader's cumulative transaction fees could one day surpass that of their wealth altogether.

The hilarity of it all is that POLYGON was a direct copycat of everything traders wanted out of ETH, without the ridiculously priced gas fees. The result was an instant hit for POLYGON'S native token, MATIC. I vividly remember it rising up to the top 5 by market cap. 

If we launch our smart contracts layer soon enough, we could position ourselves right in the eye of the storm.
👍  ,
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@taskmaster4450le · 
I feel Ethereum will be a Wall Street/banker chain. They dont care about fees.  There are those who feel centralization is an issue since the a few wallets have a lot of the stake.

The forks are interesting.  But they have questions also.  Polygon has a good chance but it is questionable also.

In the end, there is a chance to operate differently.  It is not only DPoS versis PoS, it is smart contracts on layer 1 versus sidechain.

We will see what is more effective.

Posted Using [LeoFinance Alpha](https://leofinance.io/@taskmaster4450le/re-leonordomonol-2lccfvyof)
👍  
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vote details (1)
@mccoy02 ·
$0.07
Scaling hive blockchain which will allow use of smart contract for other project to be use as side chain is a good step towards making hive go viral.

Without good publicity and awareness hive could be just another sleeping giant project with great usecase but little community of members in small circle although lot of effort is been put to create awareness on web2 platforms.
👍  ,
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vote details (2)
@taskmaster4450le · 
I am a believer that Hive's publicity and awareness comes from what is built on here.  In the end, it is the user/customer experience.  The challenge is that most people do not care about long form blogging.  This means that we are catering, at best, to a select market.

This is where development alters things.

Posted Using [LeoFinance Alpha](https://leofinance.io/@taskmaster4450le/re-mccoy02-23tgzdky3)
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@mccoy02 · 
Sure more development will attract public attention looking forward to that.
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@takhar ·
$0.07
Hive stands at a good position from an infrastructural view point. Most blockchains don't have fast and feeless transactions. I think building good applications that are able to attract a large userbase will greatly increase the chances of Hive being a winner in the space.
👍  ,
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vote details (2)
@taskmaster4450le · 
No they dont.  They were built around the financial side of the equation, not social media.

This is a huge difference.

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