Hive is rapidly becoming one of the most overlooked blockchains there is. While others get more attention, Hive just keeps growing and expanding its reach. Originally a blockchain for blogging, the feature set of the chain changed over time. Now, it is becoming one of the main forces in blockchain gaming.
Blockchain Game Alliance along with DappRadar released their monthly report which details the state of the blockchain gaming sector.
The Blockchain Game Alliance is a non-profit organization counting over 150 members and committed to promoting and spreading awareness about the advantages of blockchain technology within the game industry, and DappRadar is providing its industry-leading data to assist in this goal.
In this report, we are tracking the activity across all games and marketplaces running on the Ethereum, EOS, TRON, WAX, Steem, and Hive blockchains.
The breakdown of the report that shows how Hive is more than holding its own when it comes to some of the larger players. Going forward, there is a good chance that Hive's benefits make it an attractive destination for developers. EOS is a chance with high development costs and Ethereum is seeing the fees associated with the chain skyrocket due to the popularity of DeFi.
Here is an example of the fees on that blockchain.
Nevertheless, when it comes to the dollar volume of blockchain based gaming transactions, nothing comes close to Ethereum.
This is a category that Hive will likely not show up since the smart contract capability is not at the base layer. EOS and Ethereum both have smart contracts built in, thus all transactions are on-chain. With Hive, all smart contracts are on the second layer, meaning they occur off-chain. A custom JSON is often sent to mark the transaction but that value is not on-chain. Hive ignores what is in the JSON since the commands do not apply to it.
We are also seeing the beginning stages of NFTs arising on Hive. It will take a little while for the market to really get going.
That said, when it comes to the transactions, Hive does score very well with gaming. This is led by Splinterlands but a few other games are starting to make some headway. We will likely see the development continue for the later half of the year.
The total daily activity is comprised of 30% done on Hive. This is second only to EOS, which came in at 40%. Ethereum saw a significant drop.
When we see the chart based upon the number of transactions per day, it becomes clearer how Hive is thriving in this area. Ethereum's free fall is more evident here.
The full write up can be found at this link.
https://dappradar.com/blog/the-state-of-the-blockchain-game-sector-july-2020
We also can view the YouTube video detailing the findings.
This is a very interesting turn of events. How many people would have guessed that Hive would command the second largest share of blockchain gaming transactions? With all that is being developed on Ethereum and the attention that EOS receives, Hive simply flies under the radar. The fact that Splinterlands is here and growing at a nice rate certainly helps.
However, this does help to frame the conversation around Hive much differently. Many associate Hive with blogging or, perhaps, social media. These numbers show that gaming is also a viable avenue for those on Hive to pursue. Developers would be well served by looking at this market.
Presently, there are a number of games operating, in various stages of development. Of the top of my head I can think of eXode, DCity, CryptoBrewMaster, and HolyBread. There are also a few games of chance that are also in operation, which I am not sure is contained in this report.
What I find exciting is the fact that many of these games are very early in the development process. Other than DCity, the three I mentioned are still coding their basic elements to the game. While they are operational, I would say that Alpha is probably the best stage to describe where they are. At this point, I am not even sure if any of them are posting anything to the blockchain. CryptoBrewMaster, for example, stated that will be part of the next update they roll out.
Overall, we can see how the crypto industry is wide open. It only takes one application (game) to break through to garner some attention. Thus far, Splinterlands has filled that role. That said, we could see other applications on Hive start to experience more success as they branch out in their different niches.
For the moment, Hive is still a bit of a secret. If news like this keeps coming out, that will not be the case for long. Eventually we are going to see people turning to those areas where actual activity is taking place. While the numbers of low versus the Internet in general, Hive is excelling within the blockchain world.
Whereas a lot of other projects have fluff, Hive is rapidly developing some substance.
In time, this will likely propel Hive forward.
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