Hive Development Going Full Force

in LeoFinance2 months ago

Some days provide a lot of insight into what is going on with Hive.

This platform might not have the most developers but the one's that are here are very good. A lot takes place in the background. Sometimes, though, we get a glimpse of all that is coming.

Obviously we are aware with what is taking place at the base layer. There are developer calls every other week and posts about what is taking place with the next hard fork. This helps can help us to understand how strong the base layer is becoming.

However, that is not the only aspect to what is taking place. The second layer is where all the action is. In fact, Hive's success in the future is dependent upon what is developed at this level. While we cannot deny the importance of the "big stuff", often a lot of smaller improvements can have enormous results.

So what are some of the things taking place.

BSC Bridge

There is little doubt that Binance Side Chain became very popular. We see a lot of growth on there with DeFi absolutely exploding. Even Leofinance set up a DeFi project there with CubFinance.

Getting to Binance can be a bit of a hassle, especially for those in the United States. Even using VPN has resulted in people having their accounts such down by exchanges.

Enter BSC Bridge.

This was developed by @deathwing. It allows for HIVE to BNB conversion. Itis a one-click process, enabling people on Hive to go directly to BNB. For the time being, this is a one way application meaning that the reverse cannot take place. However, it does appear that this might change in the future.

The application does charge a 2.5% fee yet that could come down if it becomes popular.

Here is the introduction post.

Deathwing also runs a witness node so if you find this application of value to the Hive ecosystem, then consider giving that your support.

Fiat-to-HIVE

Onboarding is an issue that is discussed a great deal. One of the areas that many feel needs some work is the ability to get into Hive directly from fiat. While there are a few exchanges, we often see the requirement of going from fiat to another before entering HIVE.

There is a belief that the value proposition of Hive would be increased if the coin was easier to acquire directly from fiat. This is a difficult challenge since it often requires advance compliance from the regulators. For example, in the United States, the second you deal in fiat, you are effectively operating as a bank, requiring a lot of the same licensing and regulations.

Nvertheless, @naillon11 put together a post that covered this topic.

In the comment section, we see this:

hivefiat.png

Later on in the comment section, it was mentioned that it would be handling the EURO to start.

If nothing else, this will make life a bit easier for those living in the EU who are on Hive. It will allow for direct entry and exit in the native currency.

Commerce

One of the biggest drawbacks to cryptocurrency in general is the lack of places to spent crypto. Granted it is the early stages yet we are still lacking that avenues which will enhance the overall value of cryptocurrency. More use cases only provides a better user experience.

On Hive, we have hivelist.store. This is now offering the ability to open up a "store" on that platform. According to the post:

You can sell all kind of items from physical products, digital downloads like ebooks and music, or external products, like links to affiliate products or external markets like NFT markets, example: You are an artist and have NFT's on different markets like @nftshowroom, @lensy, or even on other blockchains like WAX or ETH, you can list each piece as a product in your Hivelist store and just set the product up to link out to the appropriate market. Some NFT markets require you or really encourage you to use their markets, mainly because of the way the original artist is paid.

This could end up being something very interesting. Anyone can become a vendor. What is appealing about this project is that it is integrating products wherever they are. Thus, no matter where it is located, for example, a NFT, that can be listed in someone's store.

Essentially, the goal is to provide one location for people to go, yet pulling together all the products from different projects, especially digital ones. Thus it is a value add application to all else that is out there dealing commerce.

It allows people to have all their wares in their store.

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Is any of this going to make Hive a Top 5 Blockchain? Of course not. We see nothing Earth-shattering here. However, with projects like this, we are seeing some gaps filled in. Each one of this addresses a specific problem. It is good to see them getting some attention.

When it comes to user experience, it is often the little things that make the difference. People have a difficult time understanding this because we tend to be such a rush, we do not ponder all the different factors that go into rounding out an entire ecosystem.

The only time we are aware of this is when there is something we want and it is missing.

Quite frankly, as we know, there is still a lot missing from cryptocurrency and Hive. The coders are still working a great deal on infrastructure. This is going to continue for the next few years. However, while that is being done, we see some applications appearing that will help solve a few problems too.

In the end, it all adds up. Major leaps in process are most often due to a lot of little steps forward. In this era of instant gratification, that can be difficult for many to accept. Nevertheless, this is how things work.

Based upon these announcements, we can see that Hive is continually progressing. If we got news like this each week, imagine where we would be in a year or two.

Slowly things are starting to fall into place.


If you found this article informative, please give an upvote and rehive.

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Posted Using LeoFinance Beta

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Great post @taskmaster4450le, all of these functions are definitely required for the HIVE blockchain. I have had to navigate all three of these topics in recent times.

  • BSC Bridge - I recently converted some crypto that I had in Binance over to HIVE. It took a number of steps to convert the crypto into Tether to be able to get a trading pair with HIVE, and only then could I trade into HIVE. Then there was the withdrawal process from Binance to my HIVE account. All of it was very doable, but it took time and the process had to be followed to the tee.
  • Fiat-to-HIVE - Similarly I had to convert some FIAT into HIVE, this was an even more cumbersome process. I had to deposit the FIAT into Binance, then use the FIAT to buy Tether, then use the Tether Trading pair with HIVE to buy HIVE, then go through the withdrawal process from Binance to my HIVE account.
  • Commerce - This is definitely an area of interest for me, to be able to have the ability use my HIVE earnings for commerce transactions. Currently as I see it, I would have to use the reverse process to get my HIVE back into Binance for me to be able to convert it back into FIAT. Luckily, there is no pressing need for that at the present time.

The point I am making however, it I am a relatively tech savvy person, so I do not mind navigating these processes (apart from the fees that is), but as you mention the average person would find these processes all to cumbersome and overwhelming, so would look for a better alternative. Making the it easier to get HIVE and Tribe Token in and out of the platform I believe would be and amazing launchpad for further user adoption. I reckon it would also significantly increase the size of HIVE accounts too, as users would be able to boost their accounts with FIAT, that was giving them more upvote influence on the platform.

I know for myself, since I have become a dolphin on the platform, my enjoyment and engagement on the platform as skyrocketed as the effort that I put in feels worthwhile. When I was a minnow it was such a roller coaster ride as some posts would do okay, but then other I would spent hours on and only gets cents in return from upvotes.

Thanks for sharing, you bring up some really important points that are definite barriers to entry, engagement and exit of the HIVE platform.

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The point I am making however, it I am a relatively tech savvy person, so I do not mind navigating these processes (apart from the fees that is), but as you mention the average person would find these processes all to cumbersome and overwhelming, so would look for a better alternative.

This has been my experience and represents my thoughts, to a tee.


Posted via proofofbrain.io

Thanks for the feedback @trostparadox, I have been thinking about writing a post to put it out there to the community and the new users to see what their experience is like and what they like and what they struggle with.

I mean, i is to be expected as HIVE is a decentralised platform, so the tools that do exist have been created by other users who have seen a need. Once again, it is all about working together to pool our ideas and suggestions, then make them public to the tech gurus out there to create a proposal to the HIVE fund to make it so.

Cool stuff happening all over the place. The level of development that is going on is crazy. It's a community effort and no wonder we will be in a much better place in a few years from now. I have been exploring HiveList and Hive Hustlers community since @thelogicaldude made its announcement yesterday . They are doing so much stuff in bringing Ecommerce on the blockchain. I am excited about their projects because I was looking for such services and they are going in the same direction.

It's great that we are building more bridges to Hive. It will only expand our collective efforts.

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Thanks is for the support!

All of this kind of makes me fell like Hive is becoming the Walmart of the blockchain world. You know instead of the little mom and pop stores that specialize in this or that, we are seeing one blockchain that does it all or has it all. I think that could be huge for Hive in the future. I mean, just look at the physical world equivalent. Sure, those other chains will still have value, but when people find they can get everything in one place, the majority will flock there.

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I don't think that is bad. In general we accept different types of content and are dabbling in everything so I do think HIVE will become a general area with everything. Of course that would mean that block chains with specific focuses like WAX might do better on the NFT aspect.

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The dabbling can grow into something major. It is likely that we see some things break through and that adds to the growth of the entire ecosystem.

It is slow in the beginning but a few things, if they start to gain steam, will really change things.

I believe we are a few announcements (and apps) away from being there.

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That is the idea of decentralization. People are free to develop and build what they want. That means things will go in many different directions.

It is also what can provide a great deal of power to the ecosystem. While grassroots is slower to start, once it gets going and a few of the tentacles breakthrough, we can see much greater growth across the board.

We have great infrastructure with more being added. Over time, we will see what unfolds.

It is going to be fun to watch.

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I've got my popcorn ready!

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Sorry my friend. This is not a passive situation where we sit on the sidelines watching and eating popcorn.

We need to watch while participating. This is a full contact event. No standing around dilly dallying. LOL

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Oh, you know I will be here commenting and writing! Stacking my Hive for Friday too!

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You are a good man regardless of what your wife keeps telling everyone.

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Sounds about right! :)

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I think it makes sense to have access to everything and the development is also looking nice. The BSC bridge is only 1 way right now and the FIAT into HIVE/HIVE into FIAT won't be out for a few more months. So who knows what will change in the meantime. In general the improvements are a plus but it doesn't change the fact that we need a killer Dapp.

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Hive does need the killer DApp or a whole lot of applications that are pulling a few people in.

It is an either/or situation. We will likely see more development so there is a chance that even without the killer DApp, things do grow.

Ethereum is because there is a lot of money which attracts developers. Hive is starting to generate some wealth within the community. All the tokens that are on here are beginning to add up to a tidy sum.

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Regarding fiat-to-hive, I see that blocktrades has USDT and USDC options. Of course, there are ETH fees plus the exchange fees. However, these are a fixed cost versus transaction fees using a credit card or debit card, which are a percentage of the entire transaction. Conceivably, it's cheaper to buy stablecoin using ACH, then using that to buy Hive for a flat fee.

That is, unless blocktrades is working on a way to do ACH transfers to convert straight into Hive or HBD. The charge card method isn't that much better than an intermediary crypto because so many cards, particularly in the US, don't allow crypto buys.

I think if they go fiat-to-HBD it would make for a more stable HBD. It would hold the peg much better.

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We plan to use SEPA for Euros which has very minimal fees.

One of the biggest drawbacks to cryptocurrency in general is the lack of places to spent crypto.

Exactly that, for some time now I've been thinking how this could be fixed. Especially that we have HBD which can be used as a safe, pegged payment option.

I thought that a platform that would allow you to accept HIVE and HBD payments would be great, something like Stripe but for Hive. But that's a huge project and very complex from the legal POV -- would require lawyers and tax specialists from all around the world to make the platform really usable.

Also, what we need I think is to have tools prepared for people that actually would want to build something with Hive. Things like people that can help with being law-compliant for people and business that want to use Hive, tools for entrepreneurs, developers, designers, proper documentations and knowledge bases, and so on. Instead of thinking of what particular thing we could do to make the adoption faster, we should start with providing an environment for people of different backgrounds that will help them build on top of what there is.

It's not that the above is not present, it is. And I believe it should be a main focus. Many people have many great ideas on how Hive could be used in this or that, they just need a helping hand to make this happen :)

I'm glad to see all these developments happen... I realize some are not because it makes Hive look more and more like a "uitlity coin" but so what? ETH is essentially a "utility coin" since almost all the focus is on what you can BUILD on that chain, not the chain itself. It may not be as exciting from the "wen moon?" perspective... but certainly more stable in the long run "get rich slowly" world.

The commerce aspects are exciting to me, and I'll be very interested to see how that plays out.

=^..^=

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Ethereum is a utility coin. There is no doubt about that. That is why I laugh when people say Hive wont go anywhere because it is a utility coin. Well the second biggest one by market cap is the same thing.

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Fiat to Hive or Hive to Fiat would be a game changer for sure depending on who the partnership is with. That could brings massive amounts of new investment into the platform. 6 months is a bit of time but hey that's 5+ months to start stacking as much as possible! Bridge is going to make Binance much easier to access as well for many users.

I'm super excited though for the Fiat to Hive though as the NFT marketplace would most likely take off here on hive because of it. Easier barrier to entry.

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Well it is if you are in Europe.

Not sure what the plans are, if any, in the US.

Either way, a major step forward. We have a lot of potential major steps forward in the works.

That is what is so exciting.

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But I want it now! But seriously the pace of development is slow considering how much funding is available through the DHF is it not?

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Most of that funding is going to the HBD stabilizer which ends up being returned to the pool in HP.

As for development, it simply takes time. I dont look at the development based upon the DHF because that is not where the real action is. We still vote on stuff that doesnt add a lot to the platform.

But delays are inevitable. But the project by Deathwing, something nobody knew about, at least publicly and boom, here it is.

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It is this continual development that will ultimately give Hive it's value. Every little "extra" and "add-on" appeal to more and more people. As the infrastructure widens and adds depth, people will start finding this place and suddenly realize how robust it actually is. As you say, it won't happen overnight, but it IS going to happen. At least in my opinion. I firmly believe there will come a day in the not-so-distant future where there will be a lot of people bemoaning the fact they didn't keep accumulating Hive at these prices.

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Thanks for this post. I am especially interested in the commerce part, I have to check it out, have been waiting for a possibility like this.

Plus I'm waiting for the next HF to chance the existing curation curve.

We're on the right track for sure and the chain has never had this much development.

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It will also provide recurrent payment so we could see subscription models becoming a part of the platform.

A lot of interesting stuff developing.

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A nice compilation of different areas that a lot of people would either won't know or know very little.
Hive store is a great platform, i always wanted something like this, somewhere someone could sell something, Definitely a good move in the right direction.
The posts links you have attached are really helpful. Fiat to Hive conversion is a pain at the moment but hoping that this will be a better process in the future.


Posted via proofofbrain.io

Fiat onramp would be the biggest game changer IMHO. When I tried using CUB the biggest annoying part was getting BSC to my account. I we can help people get their fiat into Hive in a single payment....... we'l get more people investing. If you can get Hive you can start trading for tons of other Tokens on Hive-Engine. So I'm very looking forward to @blocktrades announcement.

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Listen, I've been having so much fun on Binance with HIVE, yesterdays jump was amazing 😍👍🤩. The commerce project is really cool, imagine selling merchs in HIVE, the possibilities are endless. Peace!

They really are limitless. I think Hivelist store is a really interesting idea.

Worth watching that one.

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Is any of this going to make Hive a Top 5 Blockchain?

If that's what we wanted we'd need to rebrand to a meme :D
I can wait.
Getting rich slow is easy in crypto.

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If that's what we wanted we'd need to rebrand to a meme :D

Yeah. And get someone like Elon to tweet about it and we are golden.

Getting rich slow is easy in crypto.

People are simply impatient. Time is the biggest factor. And forget the insane returns of DeFi, do people realize how rich they can get even at 50% annual returns. In DeFi that is laughed at but if one runs the numbers, it is insane.

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The blockchain lives and breathes, every bit of update here and there, every post, comment, contribution to this chain makes it breathe and grow. The fiat on-ramp is def one big step forward, everything is coming together bit by bit

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the euro to hive exchange has me very excited and I think it will be a major deal for Hive. Maybe there will be fiat solutions for Americans as well, it wouldn't be nice to let you guys feel excluded from the party :P

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There could be but I wouldnt be surprised if it was simply too much of a pain in the ass with regulation to do it here.

But yes, even if it is just the Euro, that is a huge step forward.

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Tha is for sharing. A lot of interesting information!

If nothing else, this will make life a bit easier for those living in the EU who are on Hive. It will allow for direct entry and exit in the native currency.

This is really interesting. I will keep my Hive in here, but I think a lot of non-crypto people would like an easy way to pay out like this.

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Having that option and making it easy certainly is a help.

It works both ways I would presume: it makes it easier to get on Hive also.

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Fantastic work guys! I will keep onboarding people here from YouTube and other video platforms, you guys keep building this thing up and soon we will have a HIVE pirate partay!

pirate.gif

We all have a role to play.

If they leave a comment, I will do my best to engage with them. So keep sending them here.

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Fantastic! These are great advancements and it's more about awareness than anything. Alot of people don't know about Hive. The more Hive has the more it will appeal to people.

The fiat on ramp is a really good one.

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That is true and I think it is a good think. Keep in mind, even though we have the legacy, Hive is only 13 months old. We are still filling in a lot of the holes. It is developments like these that will help in the spreading out of our reach.

It is not the quickest path but that could change in an instant. The right application can make everything go boom on here.

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Yup, that's true. The more work that gets done the better the network and the more people are likely to come across

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thanks for this thorough round-up. as you said there is nothing earth-shattering but motivation for us all to stay along ;)

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We all have our parts to play.

The developers develop; the rest of us engage. It all will work out in the end if we do that.

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The fiat onramp... I am so happy. We have apps that attract non-crypto people. Getting hive was a barrier without fiat onramp.

I saw that comment and took it as a positive. The only think I was disappointed about was that it was Euro and not USD.

But then considering what a pain in the ass the USG is about that stuff, it makes sense. We have a financial regulatory environment that looks like a total mess to me.

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Yeah forget the USD...

I think the best way to solve that problem would be to set up an unregulated P2P exchange where people can choose to meet and exchange cash for hive at their own risk, similar to bitcoin in early days.

Not practical but better than nothing

Well there are still ways around it. Coinbase is what I use for that when I do engage with fiat to crypto which isnt often. So perhaps I am a bad example since I dont do much of it.

That said, I can get into Litecoin and send that to swap for Hive through BT. It isnt the best system in the world but it works.

But for newer people, in Europe, this could really help out when released.

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I think this is a good development for Hive and its users. It would be convinient if transactions would be smooth and simple in the future.

Wow that is fantastic as having an on off ramp is what is missing. I am super excited about this as for the future we need this type of stuff in order to grow the community. I do think Hive has some of the smartest minds in the development business.

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Hive blockchain will be one of the platform that users will be so happy to join in months to come

So much things happening. It's awesome to see all this new stuffs around, and making so much (good) noise.

Hive potential is just incredible!

Hive is roaming below a dollar
The minute it is at a dollar
the conversation will change
for something else.
Upgrades now are a plus

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On Hive, we have hivelist.store.

This is super cool... although browsing through the shop I noticed that everything is priced in $. I suppose that at the end one will see a conversion rate. I think setting up shops like this will be a game changer; but it will take time for more adoption

The future is looking bright.

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Its amazing, the changes are slow but I don't mind if its coming in steady and consistenly too. Fiat directly into hive will be good, a little punch of the DHF into marketing will be great as well. Hopefully we can see more change.

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Like anything else, consistency is the key across the entire spectrum of the ecosystem. Just like content creators, the devs are consistent in what they are churning out. It doesnt always appear on a daily basis but that is because we are small.

As more people find this place, expansion is going to be huge. The plugin that Blocktrades is working upon, some feel will be a major shot in the arm for development.

Let us see how it all unfolds.

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The plugin that Blocktrades is working upon, some feel will be a major shot in the arm for development.

Well hopefully it'll be, hive is not doubt still in infancy, time will tell how cast this place will become

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We came a lot way compared to where we were a year ago. We have a hard fork in 6 weeks (roughly) that will add a few more things to the blockchain. We are also seeing massive expansion at the second layer.

Each development like mentioned in the article helps to push things forward a bit more. That is what we are looking for.

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Yeah, been seeing a lot of vibes about this fork, hopefully it can bring some adequate changes too along the way.

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