Deeper analytics could bring more businesses to HIVE

in LeoFinancelast year (edited)


logo-dark Hive Stats.png

Hivestats

A super useful tool that helps many of us track our weekly and monthly activity as authors, curators, and witness node operators is Hive Stats.

Hive stats allows us to view our account growth and other statistics in table and chart form.

It also gives us useful information such as the value of our vote and the percentage of APR we're currently earning from curation.

Very useful statistics to get a basic overview of our account behavior, but not enough detail to use it as a business tool.

What are some improvements that can be made to the current Hive Stats interface?

Here are a few:

Longer and custom periods

The first thing Hive Stats needs (in my opinion) is longer periods of data and a way to compare account behavior from week to week, month to month, or year to year. This would allow us to try out different posting, curation and delegation strategies and adjust them after seeing the results.

Alternate denominations

Right now, the account growth chart (on the left) is displayed in Hive Power, while earnings (the chart on the right) is displayed in USD. While dollar denominations give us an idea of how our account performed in any given week, it might also be useful to be able to switch denominations from USD to HIVE to Satoshis. This way, one could do analysis independent from the current price of $HIVE based on USD. We could instead use HIVE or HIVE compared to Bitcoin.

Downloadable data

Once you have the data you're looking for, you could have a big, red, button that says Download to Excel. Where you could rearrange your data however you like and make your own tables and charts.

Another use case HBD stable coin

I'm aware that such developments, as simple as they may seem, require time from skilled programmers and perhaps additional servers and maybe even more nodes, but Khal has already expressed that the Inleo team plans on adding more services to the Premium subscribers.
This could very well be Premium feature or a separate paid service, where one would have to subscribe per month or per year to have access to these deeper analytics, creating another use case for $HIVE and $HBD.

Hive SQL

Of course there is an awesome tool called Hive SQL Where with a little bit of knowledge of popular programming languages such as Python, PHP or Ruby, one could easily download information from the HIVE blockchain and perform our own analysis, but programming is not a skill everybody possesses.

I know there's also a step by step tutorial for Excel users so you can download the data and arrange it in pivot tables, but I'm not sure how easy it is for regular, non-developer folks like me.

User Experience (UX)

Hive already has a ton of amazing tools, many of which are useful for business owners such as myself. For any of them to become massively adopted, however, they have to be incredibly intuitive and easy to use. Just like nobody wants to have to switch nodes while watching our favorite movie on Netflix, we just want stuff build on the Hive blockchain to work; seamlessly.

Having additional paid options for statistics readily available on a familiar website such as hivestats.io is something, I think, more than a few projects or businesses would be willing to pay for.

Posted Using InLeo Alpha

Sort:  

You are perfectly right. I believe if the Hive has more analytics tools, it wbe ill great to see so that people can track more their progress performance gradually

Yes, most importantly, businesses. They will most likely use lots of resource credits to run properly and thus will need to build large stakes.

As you said, Hivestats is a really legendary website and has a lot of data, but it can definitely be improved. I would love to see historical data, for example, how much my account has improved from the beginning to the end of 2023, wouldn't that be great to know? I don't think there are huge gaps for a developer between doing this on a monthly basis and doing it on a yearly basis.

Yes! historical data would be super useful for both individual users and businesses. I really think we need to attract more businesses to the platform.

Thanks for sharing this. I didn't even know of Hivestats before this. Having checked it out, I do agree that a longer time frame would be nice. I also like how you don't even need to login to use it. Which got me thinking, that peakd should incorporate it as well. So when I tried to look around peakd, they do have analytics [https://peakd.com/me/analytics]:

image.png

You can also load older data. It does provide more of an overview, while Hivestats can show specific details like how much HP or HBD you per curation/vote. Both are pretty cool.

Yes, both give a pretty good overview of account activity for basic analysis. To do real in-depth number crunching, however, we need deeper analytics tools. You can use Hive SQL for this, but it does require a bit of technical knowledge to use.

That is pretty cool. I didn't know a database like this is available. I don't think I need to know in depth data of my account just yet, but knowing that the data is compiled is awesome. Thanks for sharing this.

Well there needs to be support for people that wants to build this. Like the DHF, perhaps we can let other projects stay without cosmetic updates and really push for new innovating projects.

The Inleo team has this on the horizon, but I think it's slightly lower priority at the time. I think it could be bumped up to slightly higher priority. It could attract larger projects to the HIVE ecosystem.

I was looking some something like this, thanks! 😊

Glad you found it useful.

All great feedback and I am sure many of us simpatize with these (me included)!

And note that there are a couple people already that do some data "molding" for a while. If you haven't checked yet, have a look at the posts at the https://ecency.com/created/hive-133987 community.

But we need more people coming up with developing ideas on how to sustain these. And why I say sustain?

The challenge (in my view)

The hard part about data in the blockchain, is that by default is meant to live in a very "efficient" way, and its evolution isn't usually accommodating more than what strictly necessary extra data. Hence this has to be supported, either by Layer 2 chains or via customization of DBs (which becomes a L2 data centralized thing eventually, even if the process to reproduce it from the blockchain is shared and public), which not always has enough support due to their bulkiness and resource requirements for who access it.

As usual, the "data" problem of the world comes into perspective. And one, developing software with blockchain technology has to "adapt" to the resources (such how much usually a PC can "do", how long it takes to transfer data across the globe to most places, etc). And because during the course of the blockchain development, these things evolve in different directions at different speeds, it becomes really a struggle sometimes to many blockchains. Others aim for very very low and then struggle with the ability to adapt, due to limiting decisions. But there are also the ones that over-shoot, and restrict infrastructure adoption, usually making it "centralized".

Either way, its all very techy talk (the kinds I enjoy, so apologies if this is too dark 🤣😎)

I appreciate people exploring, provoques discussion and sharing of ideas. Thanks for that!

One of the most insightful guests on Crypto Maniacs podcast has been Blocktrades. On episode 92 (on 2-22-22) He was explaining how Hive Application Framework (HAF) facilitates and speeds up queries by getting data from the blockchain and customizing how it appears in the database. Very much over my head, but I love going back to all his episodes to try to learn something 😄

In any case, my views on what tools we need on HIVE are from the perspective of a layman and are, like you said, intended to generate discussion and maybe sharing of ideas, so I appreciate you taking the time to write such a detailed response.

Thanks for suggesting these ideas... I don't have programming skills to make this possible, but it would be nice to have more stats... As we saw from the Hivebuzz, stats, and data can be a great motivation for people to grow!

Yes, having more statistics can motivate people to grow. I think it would also allow businesses and projects to want to develop here. Im my opinion, having business accounts could do wonders for the adoption of the HIVE blockchain.

Making HBD a stable currency is what so many have been clamoring for and I believe it will work even though it takes time
Go Hive!

Yes, we already have HBD. I'm talking about analytics tools.

One of the great and key strategic way to help cause massive hive adoption is to make the HBD to be used more for transaction

Yes. We need as many use cases as we can for $HBD.