Hive blockchain growth is steadily moving up and we see optimized solutions or new ones to this crypto ecosystem. And one of the things we are all missing out are the Smart Media Tokens (SMTs) which should have been part of the blockchain itself. What would that have meant? That would have meant that any exchange could connect through APIs and interrogate Hive itself to find tokenomics for such tokens. While this might be a delusion for all of us, our only option is a centralized solution known under the name of Hive-Engine.
What is Hive-Engine?
Hive Engine is a smart contracts side-chain platform for the Hive blockchain. This means that it can execute custom smart contracts based on data published to the Hive blockchain. This allows us to do things that are not currently supported by the Hive blockchain, such as creating custom tokens, or literally anything else achievable with a smart contract.
While this offers us some smart contract capabilities, due to its centralization and instability no exchange (as far as I know) nor price aggregator app out there has ever listed a second-layer solution. Not only that but if you want to track your assets' evolution probably you need multiple apps or solutions to do that due to lack of exposure. But the biggest shortcoming is that it barely provides liquidity which adds a big gap between BUY and SELL orders. Thus, people avoid trading second-layer tokens which are simply unacceptable these days. Now we have another centralized solution that came into the space last year which is TribalDex.
There is also an announcement on this archaic app that "If you are having problems with hive-engine.com, please use our new full-featured interface at Tribaldex.com. We are working on the new hive-engine.com to be released in Q1 of 2022." We'll see some improvements in the near future related to Hive Engine tokens, let's see if that will meet our expectations or if it will just be some aesthetic showoff.
What is TribalDex?
Tribaldex is a platform that empowers communities, project owners, fundraisers, developers, and businesses to quickly and easily build on the Hive blockchain like never before.
While this statement doesn't say much, the biggest feature of it is that it brought Liquidity Pools to the space. And yes, it is still a centralized solution above Hive-Engine, which still lets us behind others. But at least it solves a real problem and bridges the gap between BUY and SELL orders making this at least a near real trading solution. It is not perfect, but at least when you make a trade you don't feel like you've been ripped off. That also brought rewards for being a Liquidity Provider which incentivizes users to participate and ensures enough liquidity to trade big volumes.
At this point, I cannot but wonder if there are interests in stopping Smart Contracts from coming to life on Hive or if the developers from here simply cannot undertake such a task. We are losing so many opportunities by not having SM and the possible investors will not take us seriously without that. Somebody with influence and independence needs to wake up and push this to become a reality if we want to rise to our true potential.