How Hive Compares To Other Social Media Blockchains

With as much yelling and screaming about web3, the metaverse and decentralization I have to say we haven't really come far if at all it seems. There's been a increasing call for it but until someone develops it and actully makes it decentralized it will be just as bad as any other company. Personally I don't think we will ever have a decentralized option that will work well however we can make it more resilient and more rewarding restoring power back to people and not fully to a company.

Since a few years ago a number of chains and so called web3 apps have launched. However none have really taken off to any type of level and today I want to go over a few of those and show how Hive actully is still the best option with the largest future in my personal opinion.

*This article is not financial advice and is for entertainment purposes only.

Let's take a quick run down of a few of platforms and what they have to offer.

First let's pull in some Hive information for comparison

Important Notes:
Token Price $0.41
Market Cap: 153 Million
Supply: 371,261,453
24 Hour trading: 3.4 million

#1 DeSo

DeSo is supposed to be a Hive blockchain rival. It allows for users to create their own coin however the tokens have to all be backed by DeSo (Decentralized Social) coins. At the moment these tokens are trading at $11.22

Token Price $11.22
Market Cap: 117 million (36 million smaller than hive)
Supply: 10.532.253
24 Hour trading: 120 million (far higher than that of hive by a long shot)

The DeSo token is built on it's own layer 1 blockchain and creates a rather powerful system that could give hive a run for it's money. You can lock in some free DeSo but it does require KYC and can be bought on platforms like Coinbase. These listings on major platforms like this do give it a bit of an edge. It also have a unique front end that works a lot like twitter already called Diamond. The biggest issue I think at least for me is trying to get your hands on some DeSo means you have to use a major exchange. There's no DEX that I've been able to find for it and also it's primarily Bitcoin and Ethereum so far that it can be traded for. However this kind of goes to show you why focusing on large cap chains only can net you some rather big results.

I don't know much about it as of yet in terms of payout structure, if you can earn it like hive etc so expect a full write up on it within the next week giving me a few days to try it out. It could actully be a powerful tool to get people into the hive blockchain as they all would already have this midset.

If you're already on DeSo and Diamond drop me a link below so I can add you right away.

#2 Den.Social

Ben social is like twitter feeds but based around groups and categories. The entire platform is a little odd to me as I've tried to use it months ago without too much success. Overall I've made some crypto on this platform but you need a decent following/upvotes in order to really make anything. I used to use it in a way to promote my LeoFinance blog posts but since doing so my most recent post got marked as spam so I guess that is looked down on now. So I've pretty much stopped using it as I don't see the benefits of writing a full article on there when compared to the time commitment vs rewards of instead posting it on hive.

#3 Torum

I've been enjoying Torum. Mainly I use it to post a link back to LeoFinance blog post and claim some rewards for doing so. Doing the daily and weekly rewards will add up over time and the cool thing about it is you could do NFTs and DeFi to go with it. It's a rather decent facebook like social media platform that only requires a little time each day.

#4 Publish0x

Many already know of this site. It's a article site and pretty much clones the likes of medium where people can go and cast a vote aka tip to a limit amount of articles each day. This earns the voter a small reward and the person the wrote the article. This works well for both authors and those simply reading.

I often use this sparingly if I want to write another supporting article as a backlink to a LeoFinance blog post. It earns a little about $0.50-$1 max per article I write here so for sure not worth a huge time commitment to the platform but it's good and gets decent traffic flow and a strong backlink.

#5 LBRY, DTUBE, 3Speak

I grouped these together are they are pretty much all the same thing. None of these really earn a ton of money or get a lot of views but my hopes are with 3speak to hopefully evolve fast and put some effort into shorts, ads for token value and rewards and more. If 3speak can start generating some revenue value to content creators I think it could finally stand a chance to take on the likes of other video sharing platforms all on a decentralized network which is currently being built.

At the end of it all I have to say Hive is still the best. While it's mainly still limited to blog style format there are other aspects growing such as gaming, twitter like UIs, Video and what seems to be much more. Hive very well could be the leader or one of the higher end social web3 applications but it for sure needs more and faster development work on front ends. Will we get there? That's really up to devs and how much the community wants to take on.

Posted Using LeoFinance ^Beta