Hive has a lot of interesting prospects lately.
We've been developing quite of bit of infra in terms of second-layer tech, wrapping technology, and even smart contracts. Of course infrastructure isn't exactly sexy. Nobody looks at a new road and thinks, "Wow this is amazing; this is exactly what I needed!" A road is just a road; they are everywhere. The only people who think they are amazing are the people who don't have them in abundance. Those who have these things let them fall into the background to be forgotten (until they stop working and the road is full of potholes). Such is the nature of infra.
VSC proxy wallets
VSC is a project I have been sleeping on for a while and really need to learn more about, but I'm starting to be shown the ropes... and let me tell you it's a very large scope piece of technology that could propel the network to great heights.
How could you possibly send non-Bitcoin assets to a Bitcoin wallet?
When I first saw this tweet two weeks ago I thought, "Wow, that sounds pretty crazy... but it also makes sense." By leveraging the strengths of Hive we are creating a system where a Hive account is a powerful abstraction that can store any cryptocurrency we attach to it on the second layer.
I hadn't even considered the ability to send any currency to a Bitcoin wallet. How is this possible? Well, the Bitcoin address is connected to a Hive account. We can lock assets on the second layer, but rather than unlocking/moving those assets with our active key... we can allow it to be done with any compatible key that we choose. This is what VSC is seeking to achieve here: send any token to any address and it can be unlocked with that address' private key.
Have a friend that likes to game on AVAX?
You could send them any asset to their AVAX wallet. They could then come here and claim it using Metamask or another EVM wallet. This may not sound like a big deal to some but it's very impressive interoperability. I'm sure people from other chains would be floored to find an ecosystem in which their CURRENT private keys unlock an entirely new platform they didn't even realize existed before. It's powerful.
How does the security work on VSC?
This is something I need to do a lot more research on, but it's unimportant for the time being while we discuss what the frontend user experience will be like. I'm told the collateral system that governs VSC uses https://www.xclaim.io/ as a template. I'll have to look more into this some other time.
What else?
Well if users on other platforms can come here and use keys that they already have: this greatly reduces the onboarding dilemma that The Swarm has faced for the better part of a decade. It has not been a trivial task to teach people about multi-key tiered security (owner/active/posting/memo/[master]). If they could just log in with their Bitcoin key or EVM key using a hardware wallet this would greatly reduce the friction we've been seeing.
On top of all this: very few crypto communities actually have a place to communicate. Most of them are on Twitter getting gaslit by Elon Musk about free speech when we've already seem him flex his power in a toxic way multiple times. The algorithm itself was never open-sourced and is gamed into the ground while the Hive community has clearly been unfairly shadow-banned as a competitor.
Without a technology similar to VSC it is essentially impossible to onboard other communities to our chain because they don't want to learn a new thing. They already have their thing and they already have their community. We can lean into these desires by providing them access to a proxy space that LOOKS like their network, but is actually our network. If we build it: they will come.
Already LEO has onboarded the DASH community in a very similar way. Users on DASH can login with their keys and even earn DASH by proxy via posting through automated routing on LEODEX.
Now obviously some users on Hive are going to be very annoyed if they see developments like these... because of course we want these new users to be stacking Hive and learning about what we have going on here... not just login to a lite account and cashout without even knowing how it works.
And to that I would say: either our business model works... or it doesn't and we need to fix it. If users want bandwidth on the Hive blockchain then they need resource credits. If they want resource credits they're going to need to farm them with powered up Hive or buy a delegation. They don't even need to know they have powered up Hive. Just like LEO allows DASH to earn DASH by proxy, so to can a DEX allow DASH users to stack Hive Power and resource credits without even them knowing about it [at first].
Conclusion
Hive needs to be an extroverted network. We've really struggled with this in the past as the way many other networks have achieved such interoperability was some kind of risky shortcut, centralized nonsense, or too big of a burden for the main chain to handle at scale. @VSC.network looks like it could be the real deal as it seems to be addressing all these issues at once.
Yes. I have argued this endlessly. Odysee and Rumble only exist because Youtool content are mirrored there - and because Youtool is so censored. Odysee used to enable people that posted on Youtool to mirror their content to Odysee automagically, but a month or so ago Youtool disabled the API or whatever Odysee was using, and content needed to be manually uploaded to Odysee. That was a disaster for Odysee because several accounts that were popular just didn't bother. Recently Louis Rossmann, The Quartering, and other videos have re-appeared on Odysee, however, and Odysee may be providing an alternative for those influential accounts.
Before Odysee was cut off by Youtool from automagically mirroring Youtool content, it enabled folks to preserve their libraries of content that Youtool can just arbitrarily delete, as recently happened to @meno for telling a story about ants. Clearly, it hurts when your entire body of work is deleted for some honest philosophical difference, and this is the opportunity Hive has always had: to serve as a place where content will never, ever be deleted.
If only we could take advantage of that opportunity VSC will create by introducing people to Hive to enable Hive to rise to the top of the social media industry that has become the largest sector of the global financial market. Unfortunately at the same time social media boomed Hive earned the dubious distinction of having the worst user retention of all social media platforms because of unrestrained taxation that drove people off the platform and enabled the whales to retain the majority of stake and rule as unchallenged plutocrats. Maybe when they're done mining the ~$20M DHF using Valueplan as a vector for fraud and kickbacks, they'll follow @ned off into the sunset and allow Hive to rise to dominance it has potential to attain by ending unrestrained theft by taxation. However the millions of socks they have accumulated make it almost certain that won't happen, because they'll just automate them with AI and turn hive into a parody of social media with bots talking to bots, as LEO is now attempting to do by using Taskie to post thousands of AI comments a day.
VSC sounds awesome. Associating it with Hive will afflict it with that stench of censorship and plutocracy the cryptosphere rightly identifies Hive by. At least DV's only apply to author rewards, so there's some potential a non-social media app will be able to avoid them. Here's hoping.
Thanks!
Roads are boring but so unbelievably life-changing... same with bridges.
Have you looked into Farcaster/Warpcast at all? It's a bit like CT without so much gaslighting (I won't say zero gaslighting) built on an Ethereum-layer 2 and seems to use Base a lot - I think they're integrating with a Coinbase Wallet. Maybe we need to be bringing Hive to that lot...
Base is on my list of interest
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I looked into Farcaster/Warpcast when it first launched.
Haven't followed up on it.
I just joined their discord... I've been asleep on their stuff too, but what they promise to deliver is literally "the game changer" thing we could have been waiting for all along.
Is VSC already launched?
the testnet has been up for quite some time
launch is supposed to be quite soon™
Thank you!
I'm following VSC since I first heard about it and I really hope to see it in action asap: what they promise is huge and it may really be game-changing for Hive, if marketed properly.
I haven't really been following VSC. I've heard of it and references about it, but I haven't really dug into it. I'll need to see it in action to fully understand it I think.
nope sell all your assets and go x10 long blind
you got this
😀
Hmmm this project sounds really crazy,but worth something valuable, rather than assets being lost if sent to a wrong address this is the solution, i will benefit greatly with this project
They say we'll be able to use it as early as this first trimester. There's still a month and a half left. I'm looking forward to seeing it.
I am looking forward to the launch of VSC
It is the first time I heard about VSC it looks promising
Ahhhh.. new roads is all good! 😉😎🤙
!PIZZA
A great opportunity for Hive. There are other blockchain blogging platforms like Mirror or Lens Protocol, but they don’t have the economy that Hive has, nor the diverse community that Hive offers. So if VSC helps to onboard them, it'll be a breakthrough.