Ethereum Making Hive Standout
There is a lot of attention coming to Ethereum post-Merge. At question is the centralization of the governance.
As we see more happening around the world of cryptocurrency, Hive continues to stand out from the rest.
The Merge was supposedly a major move for ETH. In the end, it was although I am not sure in the way many envisions.
▶️ 3Speak
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https://twitter.com/wheelly_dope/status/1572036701899608069
https://twitter.com/RuelChavez5/status/1572049317539749888
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ADA looks better than ETH, thoughts?
If they can get the adoption, in the event ETH implodes.
Though, there are so many other competing alternatives.
There were bound to be issued when they moved over and it takes time to figure out exactly how they will proceed. The question will be whether or not they want to fix the issue and if they can or not.
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what notorious changes would #Ethereum have with this new merger and apart from #Hive who would benefit
Summary:
In this video, Task discusses how Hive is gaining attention due to issues surrounding Ethereum's switch to proof of stake and centralization concerns. He mentions a rant by someone called Dan that further emphasizes the decentralized nature of Hive. Task highlights Hive's decentralized database structure, low transaction costs, quick block times, decentralized funding for initiatives, and fair token distribution. He compares Hive to Ethereum, pointing out Hive's distributed consensus mechanism and balanced block production capability across top 20 witnesses. Task praises Hive for its governance structure, lack of centralized control, and the placement of pre-mined tokens in a DAO, contrasting it with Ethereum's centralization. He underscores Hive's focus on decentralization, distribution, and wealth creation which he believes sets it apart from other cryptocurrencies.
Detailed Article:
Task delves into the rising prominence of Hive amidst the spotlight on Ethereum's shift to proof of stake. He draws inspiration from a passionate message by Dan, signaling Hive's standout features. Task elaborates on Hive's foundation as a decentralized database, emphasizing its resemblance to a social media ledger with added features like Leo glossary, top 10 lists, and long-form content creation using resource credits. He stresses the advantage of low transaction costs and quick block times leading to near-instant settled transactions.
Furthermore, Task praises Hive's decentralized funding model, noting initiatives like pod ping and value for value as examples of community-backed projects. He commends the base layer's functionalities, limited to core actions like account creation, upvotes, and governance votes, with smart contracts reserved for layer two. Task applauds Hive's fair token distribution, achieved by eliminating the ninja mine state and distributing power through proof of brain consensus, contrasting it with Ethereum's centralized token distribution.
Task explains Hive's governance model, highlighting the equal block production capability across the top 20 witnesses, determined by stake but allowing users to vote for multiple nodes, promoting decentralization. He lauds the placement of pre-mined tokens in a DAO, ensuring non-voting status and safeguarding against chain attacks, contrasting it with Ethereum whales' influence on governance.
Moreover, Task emphasizes Hive's focus on decentralization, distribution, and community engagement, setting it apart from other projects going in the opposite direction. He speculates on potential industry trends post-Ethereum's transition, suggesting a wake-up call towards decentralized models. Finally, Task addresses the proof of work versus proof of stake debate, highlighting Hive’s less-centralized proof of stake mechanism and welcoming diverse viewpoints.
In conclusion, Task highlights Hive's consistent commitment to decentralization and fair governance, positioning it as a beacon of decentralized innovation amidst evolving industry dynamics.
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.