Hive accounts are unique and human readable. Some will claim that each account is a specific NFT. There is a lot of truth to that. Because of these unique and human readable names, Hive accounts come at cost. When a new account is created it needs to be stored forever on the blockchain. Unlike BTC or ETH where accounts are in a random format of symbols and letters, on Hive users choose their names. Ethereum even has a specific app, the ENS domains, that is used to create human readable ETH addresses.
This initial cost is somewhat an entry barrier for new accounts, but apps are mitigating this. Apps like Splinterlands, InLeo, Ecency etc, all offer accounts to their users. Let’s take a look at the new Hive accounts creation in 2024.
There are now 2.5M Hive accounts. Unlike the other blockchains like BTC or ETH, Hive has human readable account names. This comes at a cost as the chain needs to store these values forever. That’s why the Hive accounts are not free and unlimited to mint, as each of them is a type of NFT.
Creating Hive accounts is the costliest operation on the blockchain. Hive accounts can be minted from the current HP holders using RCs credits if they have enough HP/RCs. Otherwise, they can be minted with HIVE at a cost of 3 HIVE per account. This cost is set by the witnesses.
The option for creating accounts with RCs, or sometimes perceived as the free accounts require users to first claim account as an account token, that can be then used for creating accounts. Not all claimed accounts are created. Claimed accounts are not transferable yet.
Here we will be looking into the following:
- Number of accounts created per day
- Number of accounts created per month and year
- HIVE burned for creating accounts
- Total accounts created
- Claimed VS Created accounts
- Top accounts creators
- Top accounts claims
For context we will be looking at the period from the very beginning of the chain, March 2016 till today, with a focus on 2024.
Number of Accounts Created
Here is the chart for the overall accounts created.
Here we can see the two spikes in the overall period of Hive existence. First in 2017, especially towards the end of 2017 and the beginning of 2018.
The second spike is in September 2021 where on occasions there were more than 20k accounts created in a day. This was because of the demand for accounts coming from Splinterlands at the time.
We can notice that in the last period the number of new accounts has dropped.
If we zoom in 2024 we get this:
A smaller number of daily accounts created in 2024, with almost a steady rate in the range of 100 to 200 per day, with occasional spikes. The occasional spikes are up to 500 per accounts per day. This is a low number of accounts creation compared even with the previous bear market.
There might be a small increase in the last month.
The monthly chart for new accounts looks like this:
A similar pater as for the daily chart, with a bit clearer representation.
We can see the spikes back in 2017 and 2018 and again in September-October 2021. The chart here is cut off at 100k max, but in September 2021 there was a record high of 276k accounts created in a month.
In 2024 the number of accounts created per month is around 5k.
On a yearly basis we have this:
The record high year in creating new accounts has been 2021 when there were 910k accounts created. In the last year, 2023, there were almost 50k accounts created that is a yearly low.
In 2024 we are about the same level as 2023 with around 50k new accounts created.
Total Accounts Created
When we sum the above, we get this.
We can see here the increase in the numbers of accounts in 2017, when the accounts number reached more than 1M. Then a period with a gradual increase and then even steeper growth in 2021, and now again a slow down.
At the moment there are 2.53M Hive accounts.
HIVE Burned for Creating Accounts
As mentioned above there is a cost for the HIVE accounts, RCs, or 3 HIVE. Here is the chart for the HIVE burned for creating accounts.
This is an all-time chart, starting from 2016.
Cumulative there is 4.5M HIVE burned for creating accounts in the whole period.
We can notice the sharp growth back in September 2021, this again because of the demand for HIVE accounts for Splinterlands. Almost 2M HIVE was burned back then.
Since then, the line has been almost flat. In 2024 a total of 10k HIVE was burned for creating new accounts, out of which the @hive-recovery account is dominant with 2k HIVE burned.
Claimed VS Created Accounts
Claimed accounts are like sort of a buffer of accounts. Accounts with high HP claim accounts that later can be used for accounts creation. Not all claimed accounts are created.
Here is the chart for claimed VS created accounts.
There as some oscillations in the number of claimed accounts per day, but overall, the number is around 2100 accounts claimed daily.
The number of accounts created can vary a lot, but as seen above in 2024 we are far below the 2k daily accounts claimed now, and this number is around 150.
Around 4.7M accounts were claimed, while somewhere around 1.4M accounts tokens have been used. This means that users on Hive hold more than 3M creation tokens.
Top Accounts Creators in 2024
Here is who created most of the accounts in 2024.
The @leo.voter account is on the top in 2024 with 13.3k new accounts created for now. On the second spot, close to the first one is @appreciator.
@steemmonsters, the formal absolute champion in creating accounts is in the sixt place in 2024, although I’m not sure do they use other accounts as well.
Top Accounts Claims in 2024
At the end the chart for who has claimed most of the accounts in 2024.
This chart mostly follows the HP holdings that the accounts have.
@appreciator is on the top, followed by @blocktrades and @ocdb.
All the best
@dalz
I have created a few accounts for my own use and for other people, but I could create a lot more. We really need a lot more active users. I have some hopes for the Dash community joining us and they will be crypto-savvy. 2025 needs to be better. People are leaving some of the big platforms and we need to benefit from that.
We brought in the dash community in a big way! Many of them are highly active on Hive already through INLEO
Maya and Thorchain communities are our next two partnerships. Many more users are flooding in to INLEO. Every user gets a hive account
No stopping :)
Onboarding has defenetly not been our strong side in 2024 ....
INLEO’s been crushing it tbh
Numbers, please.
We need more like Splinterlands.
Splinterlands always stands out as bringing a massive influx of users to its own app/ecosystem rather than specifically to Hive. The point that is often missed is that Splinterlands made it easy for anyone to get on with simply their local debit card, or PayPal! The "public front" of Splinterlands was primarily as A GAME not as "blockchain" or "crypto."
Moreover, Splinterlands came to life not by simply relying on the built-in Hive audience, it drew primarily from external sources. And it wasn't based on "join Hive," it was based on "play our cool game!"
Regardless of what has transpired since, I think there are important lessons there; lessons that should be replicated.
Splinterlands has made quite a dent back in the days!!!
I think INLEO is fulfilling this from the social media perceptive
Look at all we’ve done with Dash. Soon Maya and Thorchain will be onboarded
Then our contacts in the BTC/ETH communities will be next.
The masses are coming
Leo is the top account creator, but for the 2024 Zoomed in accounts created chart, I really thought the LEO & DASH partnership would've made a bigger impact.
Maybe that impact is still yet to come.
This will hopefully improve going forward
Maya and TC next
the impact is there - we’re already seeing the massive surge in user activity (thread counts, etc. are all up more than 3x month over month)
I think total accounts created isn’t the best metric. Activity is very important too
That being said, LEO’s the top creator and a spike since the dash integration is noticeable
The highest number of hive accounts were opened in 2022, with a total of 2.5M Hive accounts opened so far, this number should have been much higher. Hive is still far behind. Creating Hive account should be free.
accounts opened vs active accounts should be evaluated. This is what matters - we need active users
Especially during bull periods, we see an increase in the number of new users. This is all about price. As long as the Hive price remains valuable, users will continue to come.
Can you share BTC statistics in your next post? Especially the number of active addresses etc.
!PIZZA
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