It has been quite a long time since I've written my last blog post. I had set out to broaden my horizon. I spent some time trying to discover other social media blockchain projects. After one month of doing that, I 've realized several things that I would like to share with you in this post:
Other web 3.0 platforms can't really compete with Hive
One of my excursion was in the world of web 3.0 social platforms. I've spent a lot of time trying to understand and use a platform called Deso. It has a lot of similarities with Hive but also some important differences. The main difference in my opinion lies in the reward system. Deso doesn't have an inflation model and therefore the only rewards can be obtained through other people who either tip you or buy your personal coin. I've found the concept interesting but I'm not sure it really works.
Another big difference is the creation of accounts. It is very easy to create an account on Deso. It takes less than a minute and is totally free. First I thought that this was really awesome but after a while, I think that it comes with some real costs. When it's free and easy to create an account, then everybody can create one or many accounts. Because of that Deso, is literally invaded with bot accounts that generate fake or AI generated content.
Easy free accounts can be counterproductive for a blockchain because it invites abuse and botting.
Since rewards can only be given by other users, there are many scams in action that try to make you tip or invest.
No rewards, no interaction, no quality
When the content is mainly produced by bots and quite uninteresting, a lot of users quickly jump ship and stop creating content and few are actually consuming content. It becomes a bot place where more and more bots try to scam you into tipping them. The result is that you have very little meaningful interaction with other users and very little incentive to produce quality content.
Hive has so much in its favor, let's make sure that we don't forget what we have and improve what needs to be improved
There are definitely many things on hive that are not perfect... well they are quite far from being perfect. Account creation seems not to be working well. Retention is bad but heck, once people get it, many tend to stay for years! Which web 3.0 or even web 2.0 platform can say the same. I probably spent more time on Hive than on Facebook and Instagram combined.
I believe it's a big mistake to invest energy and funds to try to bring people to hive from web 2.0 networks like X. The problem is that instead of using the platform, many of us are spending most of their interaction on Twitter. When listening to them, I can't shake the feeling that they sound like a sect...
To make Hive great we don't need to persuade people to join. We simply need to make sure it's always getting better. The better it is, the more it will attract people organically. Instead of promoting hive outside, let's make sure that people can create accounts easily, without it being too easy. Let's make sure that it's always possible to upload videos without having technical issues....
Hive is great but it needs to be in working order
The incentives on Hive are battle proved and there is nothing comparable
In my opinion, the very best thing on hive is the incentive possibilities. Everybody can attribute his part of the reward pool the way he wants and reward people for interaction and content. How wonderful it is to give something away for free? We should make sure that as much rewards as possible are distributed not only to content creators but also to commenting people. They are as important in my opinion as the ones creating content. The value that such people manage to generate with their time and work is the very thing that will attract other users. The reward pool of hive is the very best marketing tool that we have.
The projects on Hive need to become more reliable, more professional. Instead of always trying to create new stuff, they should make sure that the existing things are working properly and that users have a nice experience...
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