Is Hive getting more popular?
That is something that many are seeking. We know that activity is the key to growth and long term success.
The eye test appears to lead one to believe that Hive is, at best, maintaining its activity rate. Post numbers appear to be dropping, at least from observation. That said, with gaming, it is possible that things are picking up on that end. After all, transactions come in many different forms.
Blocktivity is a site that tracks activity on different blockchains. This came out a few years ago and has held pretty consistent over time. In watching the movement over that time, it does seem to do a decent job tracking what is taking place, at least with the PoS chains. Personally, I question how accurate the PoW chains are in their results.
Regardless of that, it was interesting to see Hive ranked as the #5 most utilized blockchain. This is a jump from the usual #10 range that it was operating in.
According to the site, Hive conducted more than 1.6 million transactions over the last 24 hours.
As a side note, this places Hive right behind our friend Justin Sun and Tron.
This is an amazing turn of events if it is accurate. As stated, this site always appeared to do a good job on the PoS chains, so there is little reason to doubt it.
Nevertheless, this is almost a doubling of transactions in a very short period of time. Coupling that with the eye test, something appears amiss.
Then we see this.
And this.
This is certainly one way to increase engagement.
When we click on the last post, this is what we see.
So far everything lines up.
But then we see this:
It appears that the 10 comments is reading as 7,428. That is a radical difference.
So what is going on? Evidently, there is some bug that is not reading the blockchain properly.
This is all very baffling stuff.
That said, it is good news though. Obviously, bugs are not a great thing but in the overall scheme of things, this one does not seem to be the worst one in the world.
It is true it is skewing numbers. But then, is that such a bad thing? After all, exchanges do it all the time to make themselves appear to be more active than they are. Here we see something similar.
While I do not believe this was done intentionally, it does have its benefit. As long as Hive is ranking better on Blocktivity, it can only serve us. People should be blasting that table out to get some exposure.
At this time, it makes sense to believe the numbers put out by those who are on the blockchain, posting daily reports. Nevertheless, a bit of good exposure cannot hurt.
In the end, we most likely have hundreds of thousands of ghost transactions taking place. Since the previous range was around 800K transactions per day, it only makes sense that we are still near there. Thus, about half of what Blocktivity is reading does not exist.
But hey, who are we to argue? Hive is the #5 most transacted blockchain according to Blocktivity. It is right there in black and white.
After all, would it be posted on the Internet if it were not true?
Sometimes perception is all that matters. Maybe we can turn this into a self-fulfilling prophecy.
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