The Importance of Time For Hive To Thrive
Activity is the key to a database, utility, and interaction.
There is a cost to each users activity whether we are looking at Web 2.0 or Web 3.0.
In this video I discuss how the traditional model we see a transaction fee. This is how most blockchains operate. On Hive, it is not so evident since it is accounted for using another token. This leads us to the point of time and database building as essential for Hive to thrive. It is something that we can see if we step back and take the long term view of things.
▶️ 3Speak
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Hey @taskmaster4450 - do you know a good way to buy Hive while in the US? I've used SimpleSwap.io in the past, but I don't love it (I thought it was expensive and it took 9 hours). Do you have a favorite method/platform?
Don't you allowed to use Binance? I guess it's banned in US?
Yeah, I haven't kept up with the Binance saga. There was Binance.us but I don't know if its still operating or not.
I guess it is
This is encouraging. I have seen some STEM posts about physics and other educational things, so we really are building a database slowly.
Gradually as time goes on, the standard needed for hive to thrive is actually getting build up
Thank you for this @taskmaster4450.
These issues of database building and usage have been my concern on the development of hive. We seem to have limited patronage on specialized knowledge on the chain. I think if we could get more and more people into the blockchain, database could greatly improve.
Yes, the long-term view of things. So far, I only encounter such perspective here on Hive. Outside of Hive, many are just after getting gain in the quickest possible way.
Summary:
In this video, Task discusses the future of Hive and how he believes things will unfold. He emphasizes the importance of activity, database building, utility, and interaction in network platforms like Hive, contrasting Web2 and Web3 networks in terms of cost. Task elaborates on how Hive functions differently from other networks like Ethereum or Bitcoin due to its non-tradable token system and resource credit system. He poses hypothetical scenarios about the impact of having millions of active polls on Hive and the value of time-sensitive versus timeless content. Additionally, Task explores the concept of stickability in polls and content creation, highlighting the significance of building a database with enduring value. He draws parallels with well-established platforms like YouTube and discusses the role of utility and features in attracting and engaging users within a network.
Detailed Article:
Task's discussion revolves around the evolution and future prospects of Hive, focusing on the role of activity, utility, and database building in shaping the platform's growth. He delves into the unique cost dynamics of Web3 networks where individuals running the infrastructure bear the expenses, contrasting this with traditional Web2 networks like Facebook or Google where the costs are shouldered by centralized entities. Task underscores the significance of activity within networks and how it translates to costs, especially in decentralized infrastructures like Hive.
One key distinction Task highlights is the invisible nature of transaction fees on Hive compared to networks like Ethereum or Bitcoin. He explains how Hive charges users per transaction through a non-tradable token acquired via staking the base layer coin, emphasizing the importance of understanding these mechanisms in decentralized platforms.
Task then delves into hypothetical scenarios to illustrate the potential impact of having millions of active polls on Hive. He differentiates between time-sensitive polls and evergreen content, emphasizing the stickability of certain topics that remain relevant over time. By exploring examples like Star Wars polls or sports debates, Task underscores the value of timeless content in contributing to a network's utility and engagement.
Furthermore, Task draws parallels with established platforms like YouTube, Amazon, and Twitter to underscore the importance of database size, features, and utility in retaining and attracting users. He discusses strategies employed by these platforms, such as Amazon's acquisition of MGM or Twitter's introduction of new features like long-form blogging, to enhance user engagement and utility within their ecosystems.
Lastly, Task emphasizes the crucial role of continual database building, infrastructure development, and search features in fostering Hive's growth and attracting users. He underscores the significance of information in the digital economy, highlighting the need for platforms like Hive to focus on providing valuable, enduring content to sustain user engagement and utility.
In conclusion, Task's discussion offers valuable insights into the dynamics of decentralized networks, the importance of activity and utility, and the role of database building in fostering growth and engagement within platforms like Hive. By exploring hypothetical scenarios and drawing parallels with established platforms, Task sheds light on key principles and strategies essential for the future success of Hive and similar decentralized networks in the evolving digital landscape.
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.