I'll repeat what I said in another place.
I am a big fan of taking social media out of Hive, turning into a dapp on a native smart contract, moving rewards to a smt and keeping the same look and feel of "hive" but as a dapp rather than the entire point of the blockchain. Then we will be far more attractive to projects like Gods Unchained, Crypto Kitties, and the next best thing™
I would like to see the core Hive functionality as attractive to dapps as possible, not social media dapps, not reward pool dapps, all types of dapps.
The reward pool puts a strain on the Hive token to the point any new investor that comes here needs to participate in posting, curating, and abuse fighting to keep up with the loss from inflation, loss from others doing it better than them, and the loss from reward pool privilege you see taking over trending.
Custom JSON is the only real support we have for Dapps outside of transactions. It is very difficult to build a trustless system using custom jsons without building a 2nd layer p2p network.
Hive Engine is a good example of this. It is centralized and the only way to protect against them up and leaving is building new consensus layer (aka Hive Engine witnesses). This is the same for every other dapp that wants to come here and build a trustless system.
The thing is, most of the dapps that want to do something like this (Hive Engine, Splinterlands, and other games) are "interactive" and performance is critical. With stacked conensus layers you are going to see even slower response times than what you see on Hive now.
I think the two biggest things we can do to make Hive take off is get native smart contract support so we can build trustless systems without a second consensus layer via trustless transparent smart contracts and reducing the strain on the primary Hive token. Then we will have something everyone wants and it will be hard not to successful. This is something I think people would want to invest into. Look at how bad ETH is for this sort of thing, then look at how many people using it anyway and how much ETH is worth. Imagine giving them that same experience without the large variable unpredictable transaction fees and slow confirmations?
Just to be clear, I don't want to get rid of the social layer of Hive, I want to see it as a dapp in a smart contract using a SMT reward token on a more flexible Hive blockchain, one of many potential social media dapps. To average joe user, there would be almost no change at all to the social media experience if done right.
This is a huge undertaking and a radical view, and not something I think that can happen right away, but I think it would be a drastically change Hive's attraction.
As someone who works on a Social Media dapp (also a game marketplace) I don't think blog based rewards are valuable enough (now or ever) to successful/business-minded content creators to leverage such high inflation from Hive into them.
Moving this aspect over to an SMT is intriguing and has great appeal and the Hive token should be more general and less social media specific. Empowering business minded communities with SMT is also of interest. They can perhaps still be used to help sort posts algorithmic-ally and purchase promotions etc and hopefull exchange quickly and easily for Hive or other tokens.
Also for a social media app maybe the best thing that could be done is to focus on all the other things this blockchain can do... so less focus by developers and hive evangelists on the social aspect is actually better for social dapps. Besides, It should be up to the apps to promote their own features and successes... while being highlighted from time to time by those showing the diversity of what can be done on Hive.
I don't know all the angles of this discussion and am listening to see which direction my thoughts should go but those are my thoughts as of now.
99.999% agree with this. It is time to take what we have learned over the last 4.5 years, look at what makes Hive unique, and leverage the hell out of that that for the benefit of everyone.
RP is a feature but people without vision make it the bug.
2nd layers without great use case hard to scale and slow to adoption. While moving existing social layer to 2nd layer would probably do better. Like build some use case into 1st layer and after some adoption and uses cases move to 2nd layer, etc.
Technically I think smart contracts are bit more complicated than plain SMT...
Since you brought this example, the makers of Gods Unchained are releasing a ZK Rollup, called Immutable X imminently for all NFT-related developers. 3,000 TPS, <$0.01 tx fees, 0.3 second finality, all backed by the massive, decentralization and security of ethereum. (See here: ~~~ embed:1318730386822754304) This accelerates up to 100K TPS when Ethereum 2.0 Phase 1 releases in 2021. twitter metadata:SW1tdXRhYmxlfHxodHRwczovL3R3aXR0ZXIuY29tL0ltbXV0YWJsZS9zdGF0dXMvMTMxODczMDM4NjgyMjc1NDMwNCkgVGhpcyBhY2NlbGVyYXRlcyB1cCB0byAxMDBLIFRQUyB3aGVuIEV0aGVyZXVtIDIuMCBQaGFzZSAxIHJlbGVhc2VzIGluIDIwMjEufA== ~~~
So yeah, Ethereum is much better for this sort of thing than Hive will ever be, not to mention its compromised consensus mechanism. But even if you were OK with the compromised consensus mechanism, EOS does most of this much better, with orders of magnitude greater funding. The boat has sailed. IMO, Hive has to get back to square one, come up with a completely new vision and overhaul, and best case scenario will be a niche outlet for those use cases. Personally, I feel the best approach is to be a chain specifically for social, gaming and NFTs, with very low inflation. While a majority of these projects (Reddit, Gods Unchained, Rarible etc) will be on Ethereum, especially now with technologies like ZK Rollups solving scalability, I believe there's a case to be made for a very niche but sustainable future for Hive focusing on these niches.
PS: Can't even post a damn Twitter link on Hive.blog. Terrible. See here instead, it's the pinned thread: https://twitter.com/Immutable
PS: Can't even post a damn Twitter link on Hive.blog. Terrible. See here instead, it's the pinned thread: https://twitter.com/Immutable