It seems a lot of people on Hive have the idea the grass is always greener elsewhere.
For years, people have pointed to everything that is wrong with Hive. Of course, if you disagree, then you are nothing more than a seller of hopium.
The whales are greedy. Our tokenomics is broken. We are slow to get things done. Node issues suck. We need more users. More quality content.
Of course, these people also can suffer from the "shiny new thing" syndrome. How many "killers" have we see over the years?
Remember when Dan Larimer rolled out Voice and proclaimed it the killer? What are they now? I ask because both Voice and Larimer are both rarely appear anywhere.
Certainly, when it comes to technology, things fail. Nothing is perfect. This is something that seems lost on many people.
Image by Ideogram
The Grass Isn't Always Greener
Web 3.0, in general, is slow to develop.
There are a few reasons for this. To start, there are really few services offered that people can utilize. People still visit Web 2.0 for their online needs whether it is information, socialization, entertainment, or communication. This is simply the point we are at.
We are also dealing with infrastructure issues.
The Web 2.0 had decades of building. For the most part, Web 3.0 is about 5 years old. Sure, there are some things that started before that but the real thrust was over that recent period. Even still, we are in the very early stages.
Is Hive perfect? No. Far from it. But that is true for everything.
One thing Hive does have going for it is the Lindy Effect. This is an observation that the longer a technology, or system, is around, the longer it has ahead of it. Again, look at all that came and went over the years when it comes to Web 3.0.
How many times have we seen people rush to "the next big thing" in crypto, only to see it fail. Larimer and Voice sure did get a lot of attention at the time.
What happened? Hive keeps plugging along.
Better Technology
The best technology doesn't always win.
This is something that is commonly stated. To substantiate it, many point to the VHS-Beta situation. Unfortunately, this skews the reality as pointing to the outlier always does.
In reality, the better technology almost always wins. Naturally, "better" is a relative term which could alter which fits that description.
Google was simply better search. Windows was a better OS for the masses. Android was the beter application for mobile phones.
Contained in the idea of "better" are factors such as cost, ease of use, scalability, and features. When it comes to Web 3.0, Hive is still far ahead of the field.
As we move through 2024, how many blockchains have no direct transaction fees? Of the ones people mention daily, that still doesn't exist. This causes a major problem when it comes to services.
Another issue is what is in the database of the other chains. If we are truly moving into an AI world, that is a question of paramount importance.
Services
What is the biggest hole in Hive?
Simply, it is a lack of services. This could be applied to all of Web 3.0 but there is a reason for that elsewhere.
Unless the transaction fee issue is resolved, services are going to be lacking on most chains. We will see the emergence of financial services since tx fees are part of that world. However, other services will not occur.
Consider the list above:
- information
- socialization
- entertainment
- communication
How much of that is going to occur if each time something is placed on chain, there is a direct fee? Even at a penny, who is going to pay that? The answer is evident in the lack of services offered.
Of course, there are some "Web3" services appearing, but they are based upon the server-client architecture, meaning it is really Web 2.0. Jack Dorsey seemed to like this tactic.
Technology doesn't sell because the masses are not drawn to it. They are attracted to services they utilize. When that is met, they will start to adopt something different.
Ultimately, people aren't going to care about any of this. Most will not dive that deep. They do not focus upon better technology, only services they find appealing. This is where the crux of Web 3.0 is going to have to come from.
Hence, we harken back to the infrastructure issues. It is often impossible to build service platforms without the proper infrastructure. It is the proverbial cart and horse.
But Hive Isn't Growing
Here is the ultimate attack.
Hive isn't growing, hence it is dead.
This starts with the question "based upon what"? Most will point to users. Using this metric, that is accurate. However, is that the only barometer for a digital platform? The answer is no. Unfortunately, it is the one that people most understand.
There are many ways to kick of network effects in addition to users. Certainly, they are an important component to the overall equation but not the only piece.
Of course, there is a reason for this. Without services, users are not going to follow. Those who are trying to attract users without anything to offer are trying to sell vaporware. How successful would Google search be without search? Do you think hundreds of millions would show up each day for a blank page?
Foolish as that sounds, isn't that the case? Come to Hive, except when you need news. Join Hive and communicate except when you want to do that directly, then catch us on X or join our Discord.
Services are an issue.
That aside, that does not mean Hive isn't growing. In fact, there are many ways that it is. Each day, more data is being pushed into the database. Do you think this is unimportant in the age of AI? Also, we see more algorithms showing up. This is another important component in the AI world.
Then we have features. This is slower than most would like but, even this week, PeakD rolled out polls that can be used not only on that UI, but could be adopted by others.
Builders
The question is not where are the users? To me, at this point, the more important one is where are the builders?
Here is where Web 3.0, in general, is lacking. Crypto is overwhelmingly market watchers and green candle people as compared to those implementing true business ideas.
Until the latter grows, things will be slow to move forward.
That said, for anyone who thinks the grass is greener elsewhere, he or she is free to leave. Voice. Noisecash. Heck, I can't remember all the supposed "killers" that were promoted as the next big thing.
Yet, somehow, Hive keep plugging along.