Hive Infrastructure: This Is Key To The Future
Hive infrastructure is expanding. We keep talking about this, without much observable success.
The challenge is that, infrastructure, is painfully slow. Here is where things do not prove fruitful until there are applications built on top.
In this video I discuss how Hive infrasctructure is positioned in a strong position due to the structure that it adopted. This goes for not only base layer but sidechains. When it comes to data writing, the game completely changess. Here is where most smart contract platforms run into issues.
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It felt like it took a very long time, but it finally feels like things are falling into place for Hive. Smart contracts are here, a very flexible Dex is available, it should only be a matter of time until we get more applications because of these. Those got the ball rolling, and it could snowball soon enough.
It does take a long time especially for infrastructure. We have to remember, there are no big money players who are funding this.
Hive is progressively expanding. There are number of apps and improvement coming into the system. I only pity those who don't believe in it because it might be late for them when they later try to come in.
HIve is really Expanding despite the fact that it goes at a slow rate, and it is at a great position too when it comes to Data writing
A nice Video though.
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STOPor to resume write a wordSTARTSummary:
In this video, the host discusses the advantages of the Hive blockchain infrastructure compared to other cryptocurrency networks. He emphasizes that Hive has no direct transaction fees, which is a significant advantage over networks like Bitcoin and Ethereum that charge fees to write data to their blockchains.
The host explains that transaction fees are essentially a cost to update the ledger, which is common in traditional finance and cryptocurrency networks focused on financial transactions. However, as blockchain technology expands beyond just finance into areas like record-keeping, the lack of direct fees on Hive becomes increasingly valuable.
The host provides examples of potential use cases, such as storing public records like property deeds and voter registration, where the ability to update information without transaction fees could be beneficial. He suggests that Hive's infrastructure is being built with scalability and alternative incentivization models in mind, potentially allowing it to surpass the limitations of networks like Bitcoin.
The host also hints at an upcoming announcement or discussion related to extending Hive's infrastructure and capabilities, which he believes could be very interesting. Overall, the video emphasizes Hive's unique position in the blockchain space and its potential to provide a cost-effective solution for a wide range of applications beyond just financial transactions.
Detailed Analysis:
The host begins by explaining that he wants to discuss the "auxiliary infrastructure" tied to the Hive blockchain. He highlights Hive's distinct advantage over other networks - the lack of direct transaction fees. He clarifies that when discussing cryptocurrency, the focus is on data, not just finance or money.
The host explains that every transaction, whether an upvote, article, or financial transaction, involves writing data to a database, and this is what transaction fees are meant to cover. He contrasts this with traditional social media platforms, where the "free" service is subsidized by the monetization of user data.
Transitioning to the Web3 and blockchain space, the host argues that Hive's lack of direct fees stands out, especially when considering potential use cases beyond just financial transactions. He suggests exploring the realm of record-keeping, such as maintaining public databases for car registrations, property deeds, voter information, and other government-managed data.
The host explains that on networks like Ethereum, updating these types of records could incur significant fees, potentially making the process costly. He then introduces the concept of smart contracts and their role in managing and interacting with these types of records, noting that smart contracts also come with associated costs.
The host posits that Hive's infrastructure could provide a solution to these challenges, allowing for the settlement of records without direct transaction fees. He suggests that Hive's scalability and alternative incentivization models set it apart from networks like Bitcoin, which have faced limitations in their ability to process large volumes of transactions.
Delving deeper, the host discusses the broader implications of Hive's infrastructure, hinting at the potential for Hive to "usurp everything else" in the blockchain space. He draws comparisons to the limitations of Bitcoin, particularly with the introduction of Ordinals, and how Hive's architecture could offer a more viable solution.
Towards the end of the video, the host teases an upcoming announcement or discussion related to extending Hive's infrastructure and capabilities, which he believes could be very interesting. He emphasizes that Hive's continued development and focus on scalability and alternative incentivization models are key factors that set it apart in the blockchain ecosystem.
Throughout the video, the host provides a comprehensive analysis of Hive's infrastructure advantages, exploring potential use cases, and hinting at future developments that could further solidify Hive's position in the evolving Web3 landscape.