Technology illustrations by StorysetYesterday I spent a considerable amount of time trying to spread the word about the Leofinance Adoption Campaign. One of the things I did was to visit (supposed) web3 social platforms I had joined in the past i.e. Torum, Phaver, Mind, etc to create awareness for the campaign.
I was surprised to discover that most of these sites were on the brink of extinction. There were little to no traces of human interactions. Platforms that were once lively hubs filled with enthusiastic people are reduced to nothing, the brutality of the bear market is uncanny.
My crypto journey started in the last bear market, so I am quite familiar with the drought, silence and the low quality and activity that comes with it. However, despite the inactivity in crypto space Hive manages to stay afloat.
I know I am very critical about the hive ecosystem and rightly so because I believe it can be more than it is currently. However, I do realize and appreciate the fact that it outperforms most of the social dapps in the crypto space, and it has done so consistently for more than half a decade.
Out of the many web3 platforms in the crypto space Hive can be said to be truly decentralized and at its core is a built social platform. Most web3 platforms are built on multi-purpose blockchain designed mainly to transfer value.
For instance, you have platforms like read dot cash, phaver, etc are all built on multi-purpose to manage their token distribution (which often cannot facilitate the seamless and rapid flow of value), while their social media platforms' data are held on a centralised database, thus creating arbitrary power for one single entity. This is quite different from what's obtainable on Hive.
Hive is decentralised and one of the perks of having a decentralised system is that it allows multi-dimensional growth which allows for the blockchain to grow in different directions simultaneously.
Also having a decentralised system engenders the confidence of the stakeholders as they are aware that no one entity controls the distribution of tokens and the sustainability of the blockchain. Coupled this with layer-one social features, it is a no-brainer why Hive surpasses other web3 platforms in activity and functionality.
With that being said, I still have greater expectations from Hive. Yes, it has created a high standard in the crypto space but when compared to other social platforms it still has some catching up to do (yes I know Hive is not just a social media platform). I will like to see features like the lite-account which I believe will ease the onboarding/sign-up problem, which is impacting the growth of the chain significantly.