The information for this article was taken from the Hive Core Developer call.
Expanding the reach of Hive is something that was discussed for years. Since the inception of the original chain, we saw Hive operate basically as an island. There were a few bridges such as the coin being listed on Binance. However, overall, Hivians had to built it.
That is fine. Infrastructure is necessary, especially in a world where decentralization is important. Running exclusively to centralized entities is not the best idea.
Most are aware the process was slow. There are a couple tidbits that I want to focus upon which could expand the tentacles of Hive.
Mainly we will dive into the work to get Metamask integration with Hive.
Hive Coming To Metamask
The above image snapshot from the summary of the Developer Call linked at the top. As we can see, the integration is in motion.
Before diving into it, the discussion was, not surprisingly, from the technical point of view. They were detailing how the public keys will work. However, there was enough to take a few points away.
First, application had to be made to Metamask (ConsenSys?) for integration. This appears to be procedural with the expectation that addition will not take too long.
My presumption is the technical details need review. There was likely development necessary to align with Metamask and meet their requirements.
Second, the integration will allow for Hive based activities to be done using Metamask as a log in. This is where the key system enters. Hive offers a variety of features at the base layer that users can engage in. Things such as posting, upvoting, transfers, and staking all are blockchain activities.
In other words, Metamask would then be able to talk to the chain.
Of course, this is separate from other blockchains and the activities conducted there. That means, the transfer of ETH will not show up on Hive. It is a transaction that operates on Ethereum, accessed by Metamask, but separate. On the flip side, an upvote given on Hive will not register on Ethereum.
There are an estimated 21 million Metamask monthly active users.
HIVE In Metamask
What about the HIVE coin?
This was not discussed on the call so it is supposition on my part. However, if Metamask is tied to the Hive blockchain, I would presume all Hive based activities are available through the wallet.
Obviously, if one is accessing Hive through Metamask, availability to the coins is necessary. This means one can "store" the coins in the Metamask wallet. Of course, in crypto, we know this is actually just reading the chain where the coins are truly located. The crypto is not actually in the wallet itself.
Does this mean we could swap HIVE for ETH?
Based solely upon this development, I am going to presume no. This simply adds the chain to Metamask. To go from one chain to another, some type of bridge is necessary. Here we have to deal with a liquidity pool or DEX that can conduct the swap. At some point, an entity must be able to accept HIVE and provide ETH.
Metamask is nothing more than an intermediary.
Nevertheless, the potential is there for further expansion in the future.
Coinbase Integration?
This is something that was mentioned in passing. In the past there was mention about getting listed on Coinbase.
Before that can happen, it is my understanding that development is needed. Again, there is a certain structure that Coinbase requires even before consideration is granted.
Since this was only not discussed greatly, the only thing I can conclude is the coding to meet those requirements is in process. Even when completed, there is no guarantee that Coinbase accepts. My guess is we are dealing with a higher bar (and probably a bunch of money) than what Metamask needs.
It is often easy to look at things once they are active yet overlook the grind it takes to get there. Could we see the tentacles of Hive extending? It seems the core developers are at least providing the coding to make that possible.
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Metamask would be huge, but saying as someone who builds on EVM chains, it would take a bunch of development on their end to integrate Hive into the wallet, for sure. MM will have to figure out if it is worth it or not. Hive and any EVM chain or even SOL for that matter are completely different beasts. MM is built for EVM chains, but lately has extended to chains like SOL and Aptos because of the similarities in how their smart contract systems operate. I hope to see it happen though.
Coinbase is going to be a whole other thing. Would be good to see it put there, especially to give US citizens another onramp, but I have a feeling that is going to be a big mountain to climb because they will require a shit ton of liquidity, and we don't issue tokens like these centralized ERC-20 tokens can, so that means the funds would have to come from the DHF or from some of the whales to fund that.
My guess is Coinbase is simply nothing more than money. Pay them and they will list...until the delist.
Hive is already available on Metamask using VSC. We will be releasing a new frontend within the next 2 weeks that'll make it available to end users with ease.
Looking forward to this!🙌
MetaMask adding Hive is a great plus not just for us but for them too, Hive has too much potential to be ignored. More people can use Hive easily now. Good job devs, good job
It could be a help, especially for people using mobile.
yes indeed Mr Task
Thanks for this post! I didn't pay close attention to the call recording and was left wondering what's with the Metamask integration. This made things clearer to me.
My sense is it might help those on mobile who have issues with Hive signer.
That's one good reason to make this integration. We need better usability on mobile for Hive.
Without a doubt. A lot of people use mobile as their primary access.
I think it's great! The more it's integrated, the more opportunities there will be for everyone :)
Great insights on Hive's expansion! The Metamask integration sounds promising, and who knows, maybe Coinbase is next. Kudos to the core devs for laying the groundwork. Exciting times ahead for Hive! 🚀
This is great news for the hive community.
This is going to be massive I believe and hope this will give us more options to manage hive through non custodial wallets
For HIVE to be on Coinbase, there has to be a working Rosetta API. I believe Howo is working on this.
Hive is gradually expanding day by day and I guess that is actually what we really desire