1/🧵
Resource Credits (RC) are something that sets Hive apart from other blockchains. We know that tx fees on other chains can get onerous. This is what makes it hard for social media to exist on other chains.
1/🧵
Resource Credits (RC) are something that sets Hive apart from other blockchains. We know that tx fees on other chains can get onerous. This is what makes it hard for social media to exist on other chains.
https://leofinance.io/posts/taskmaster4450/feeless-transactions-called-into-question-hive-as-a-social-media-network
2/ Scaling is vital to the process. Today the chain is less expensive to run than it was 3 years ago even though the database is a lot bigger. We are likely to see ongoing focus on scaling since it is imperative for the efficiency.
3/ RC capture the cost of the network on a per transaction basis based upon usage. This is simply math. If there is excess on the network, we can see how more transactions being process for the same money equals less/tx.
4/ This is a problem if there is no excess capacity since that means more server capacity is required, increasing cost. Here is where scaling enters. Being able to increase capacity at a pace great than the cost is sustainable.
5/ Fortunately there is an entire industry focused upon processing and storing more data for less money. Everyone finds themselves in the same boat.
Sir, I only see the social media platform of HIVE, STEEM, and BLURT. Other Blockchains social media platforms may be very weak because I can't see them.
I thought RC, depends on how much HP we power up?... its cost of hive computing then?
hive seemed to be place at the right place at the right time
It just needs a lot more exposure
Scaling is an important process to focus on if the whole of $HIVE want‘s to grow, we see this with $LEO and how often Khal is talking about it.