We Are Building Stuff On Hive That Cant Happen Anywhere Else
There was a call that just happened with the CTT guys. It was one that focused upon the present monetary system and how Hive could solve some of the issues.
In this video I discuss some of the things that are taking place which will thrust Hive into a position that none other can occupy.
▶️ 3Speak
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I am not sure if this is widely known but a few months ago blocktrades said that a smart contract system using HAF was next on their developmental roadmap. That system will also be able to support token creation.
Assuming this is a layer 2 solution, I am optimistic development will happen at a fairly rapid pace, especially since HAF the work is already done.
We already have such a solution. It is called Hive Engine. There is no point in creating another one. There are also too many tokens. And most of them are nearly worthless.
I think because hive engine is centralized for now, it’s good to work towards building one that isn’t and see if it works. We are trying to decentralize as much as we can so that the network can’t be attacked is how I think of it. You can attack a company but you can’t attack a decentralized network, at least easily.
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I did not see that. That is good news.
And yes it will be a layer 2 solution.
That is powerful news.
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I believe on a development call a while back Dan mentioned they would take a “first bite” at it after the hardfork and then estimate a timeframe for completion.
I think we are definitely putting ourselves in a good position to take charge of a few sectors when it comes to decentralization and crypto. The more we keep building and improving the infrastructure, the more we can position ourselves for future successes.
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Yeah the infrastructure is expanding rapidly. That is how things are going. We are seeing many projects that are going to make Hive even more powerful.
It will be interesting to see what Leofinance is doing next.
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I'm very confident in what hive is doing and how development keep rolling in to set this community ahead of time
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Hearing about some of the wonderful things taking place on Hive always makes us feel good. They give you a positive sense of belonging to the Hive ecosystem and inspire confidence in Hive's future.
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Summary:
In this video, Task discusses the value and potential of Hive in the cryptocurrency space. He emphasizes that Hive is often overlooked but has solid infrastructure that can be leveraged for creating various applications and solutions. Task highlights the benefits of Hive's technology, such as its base layer infrastructure, decentralized nature, and the social layer that encourages communication and collaboration among users. He delves into the limitations of other popular cryptocurrencies like Ethereum while showcasing Hive's potential for long-term growth. Task also touches on the concept of decentralized finance, the development of smart contracts on Hive, and the utility of HBD (Hive Power Dollar) in the ecosystem.
Detailed Article:
The video opens with Task outlining a recent discussion he had regarding money issues, the monetary system, and Hive's vision in terms of infrastructure. He expresses his belief that Hive is undervalued, describing it as a hidden gem with the potential to be a significant player in the future. Task highlights that although Hive may not have the same attention as leading cryptocurrencies like Bitcoin, Ethereum, or Cardano in terms of token price, its underlying technology and infrastructure are robust.
He goes on to discuss the drawbacks of smart contract capabilities on Hive, acknowledging that not having smart contracts at the base layer helps avoid certain vulnerabilities and bloat in the system. Task compares Hive's infrastructure favorably to Ethereum and Bitcoin, noting that Hive provides a more stable environment for building applications without jeopardizing the blockchain's integrity.
Furthermore, Task delves into the social layer of Hive, emphasizing the importance of communication and collaboration within the community. He contrasts this with Ethereum's governance model on Reddit, pointing out the superior communication infrastructure present in Hive. Task also discusses the potential of Hive in creating a decentralized, reserve-less monetary system that is free from the control of central banks.
Task elaborates on the utility of HBD in the Hive ecosystem, explaining how it can be leveraged to create a stablecoin backed by Hive's market cap. He also mentions upcoming projects like Project Blank, Ragnarok, and SPK Network, highlighting the increasing need for Hive accounts and Hive power as these projects gain traction.
In the latter part of the video, Task reflects on the progress of various Hive-based applications like Leo Threads, SpeakNetwork, and Splinterlands, noting that they are still evolving and have the potential to drive further adoption of Hive. He concludes by reiterating his confidence in Hive's long-term potential and contrasting it with his Ethereum holdings, expressing his belief that Hive offers a more robust solution for several use cases.
Overall, the video provides a comprehensive analysis of Hive's strengths, potential challenges, and its positioning in the evolving landscape of cryptocurrencies and decentralized finance. Task's insights shed light on the unique value proposition of Hive and its growing ecosystem of applications and projects.
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.