You see, when talking about web 3 social media platforms, although many may argue that it doesn't exist, hive exists and pretty much fits into this category. You want to be looking at key structures that set it aside from web 2 setups.
The latest gist revolves around "Elon Musk withdrawal from Twitter $44 billion purchase", as people begin to point at key takeaways on why that happened, we see more of those conversation leading back the merits ratio of these platforms, of which, in a wide range, web 3 structures like HIVE has an advantage.
As many may term it, decentralization would be the supposed reason for Musk's interest in Twitter, following his dislike for the social platform's censored nature. As we've seen in previous times how web 2 platforms like Twitter have used their central authority to censor and delete information, this brings about a system with opposing structures that qualify immutability and control.
Hive social platform, being built on the blockchain is a major transition for content creation and monetization. Its immutable nature gives an edge and resistance to content censorship, how?
Every hive account is created with a set of keys, autonomously generated and issued. These keys have different functions and thus have separate operational effects. Though many may view all of this as overwhelming, it's actually a unique design. A posting key as the name implies grants posting authority.
That said, we can now define each hive account as a separate platform utilizing the same service provider, the hive blockchain. This takes immutability to the next level as each function is handled by different managers(keys), making it impossible for anyone to delete or make changes to your content unless you've exposed your private keys.
With this, an atom of control is built, as though Immutability implies more freedom on-chain, giving the absence of censorship and central authority, the power of blockchain grants each piece a lifetime storage environment.
Content monetization
Everybody gets a dollar to share their crafts with their respective, earned audience
Hive being powered by crypto not only offers a censorship-resistance content storage platform but also a means of monetization. The flaw with web 2 monetizations is that for starters, it's centralized, making room for countless setbacks and two would be the lack of opportunities for growth.
Hive is by design unique, whereas each and every content deployed to the blockchain is given an equal content space to earn. This leaves the variation in value acquired by each account to its personal self-development process.
Hive, being a "pay less and earn more" setup, whereas most times, you don't even have to pay anything, offers a wider range of content monetization opportunities, where the impact of tribe developments makes it possible to earn even more on the same content.
Now some people may point out the RC system which brings about the need to invest to operate. The good thing is that they have been more than enough accounts here to support newbies with RC issues, and now, following HF26, RC issues are bound to take a major shift in developments.
However, we've sometimes failed to realize that the RC system is important to combat spam, making it expensive to game the system is a huge merit. We can say hive is a better alternative to Twitter as it has built structures around all the flaws it embodies as a web 2 platform. Spamming bots is a major takeaway as those practices would be highly expensive on hive, thereby hurting bad authors while adding more value to hive's economy.
The role hive plays in this transition is building what is yet to be recognized as the most functional crypto and blockchain-powered social platform, a glimpse into the feeling of web 3, immutability, scalability, cheap, fast, and wide range of content monetization opportunities.