Something To Remember
Hugely successful ideas are often quite similar to already existing ideas, except, they often have a very unique and even particular angle. Businesses centered around service delivery are often fairly similar. However, when you isolate the leader of the pack, you often find it has a little something extra, or special, that the others don’t have. It’s this simple dynamic of creating an experience that is more beneficial and rewarding than the status quo that eventually wins over the market. As I have considered Hive, I have noted that this very idea is rooted in the daily workings and essence of Hive.
The Underlying Protocol
When you take a quick look at Hive you are able to ascertain that it operates on a type of proof-of-stake protocol. Hive Power is a weighted allocation that will ultimately dictate your curation rewards. In a similar way, traditional POS will reward “stakers” with a set percentage and allocation. A traditional POS blockchain is then rewarding the owner of the coins during the time period that the coins are delegated. This is where Hive has a unique angle that goes beyond the “staker” being rewarded.
An Inclusive Protocol
A Hiver is able to extract value from the blockchain while simultaneously imparting value to others. This is a truly unique dynamic that doesn’t exist on other POS chains. In the traditional scenario, only the entity staking the coins is rewarded, while in the Hive economy, the reward is evenly distributed to other community members as well. Ideally, those who are creating value and bringing life to the Hive blockchain. This is something that perhaps many are aware of subconsciously but have not really meditated upon at length.
Where The Value Comes From
The blockchain in and of itself has no real inherent value. The value exists due to the activity that is taking place on the blockchain. This can be clearly seen in many new projects that have great tokenomics and are generally well designed. The value is yet to be established, and as a result, the token price is suffering. The tokenomics of Hive facilitate and undergird the value that is built on top of Hive. The one needs the other, and success is unattainable without both dynamics coming together. In a perfect world, the value is interchanged via a relative exchange. That which holds value extracts value. Obviously, there are conflicting ideas as to what constitutes value. However, most of us can agree on a basic “core idea” of what is valuable.
He who holds value on the Hive blockchain ultimately shares his value with others by default. This does not take place on other traditional POS networks. This dynamic works as a way to reward the “staker”, as well as to encourage and uplift others. This is tremendously powerful in terms of increasing adoption. Once more people understand the dynamics and begin applying themselves, we should see Hive reach significant milestones in terms of growth and adoption.
We are living in a time when people want to be rewarded for their time and knowledge. People can share their knowledge and experiences on Hive and enjoy the opportunity of stacking up some Crypto for retirement, or other “plans” further down the road. I guess I am preaching to the converted, which is exactly why outside exposure is imperative if we want to see Hive reach its full potential.
What Can You Do?
As a Hiver, I continue to dedicate space and time to Hive on my own websites. I have also started using LeoGlossary as a tool to educate readers, and simultaneously redirect traffic to Leofinance. I believe that if each of us finds ways to share our experiences of Hive outside of Hive, we will make significant headway. I never go as far as to “shill” or promote any project. I simply share my experiences and my journey. Thanks for joining me on this particular leg of the journey. All the best, see you in the next one!