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A lot is made of blockchain and the evolution that is taking place. Blockchain is a financial ledger, at its core, just like a bank ledger. It records transactions while maintaining balances.
1/🧵
A lot is made of blockchain and the evolution that is taking place. Blockchain is a financial ledger, at its core, just like a bank ledger. It records transactions while maintaining balances.
Click here to read full article:
https://leofinance.io/posts/taskmaster4450/hives-big-advantage-social-media-first
3/ Hive is a bit different in that it is a social media platform first. This is a big difference as compared to the others which focused on finance. One of the key issues is tx fees, this is incompatible with social media.
2/ This is what we see with Bitcoin. Smart contracts via ethereum changed this, adding the ability to build other applications, with the data at the base layer. This does present scaling issues.
4/ This is a major advantage for Hive. While it is still lacking the smart contract ability, that is being developed on layer 2. Now we have a greater conception of the race that is on.
5/ Banks are not trying to get into the social media game but Musk is after finance. This is the major difference. Much of blockchain is like banks, not social media.
And that’s Elon’s sweet spot. I think he and Leo have a similar vision to build the everything app. Although his ladder is harder to climb because of the scale of the corporation he is managing.