There is a bit of excitement taking place with the recent run up in the price of HIVE. While that is great news, the most exciting part is seen on the developer front.
To start, a tentative date for the Hard Fork was posted on Gitlab. The date is September 8th as it stands now.
The other day I made a post titled "The Speed of Hive: Hive On Uniswap". It explained how we saw a rapid progression in something that went from an idea to a working prototype in a week. The concept is for Hive to leverage the DeFi activity on Ethereum by getting involved with Uniswap. This would require a new token, wHIVE, that is created on the Ethereum network. This would, however, provide the ability to seamlessly move from Hive to that ecosystem. Essentially, it would bridge the gap between what is taking place on Ethereum with DeFi and allow Hive users to directly participate using the HIVE token.
Yesterday, we saw what I consider to be an addition to this idea. While it was obviously in the thought process for a while, the information provided is really exciting.
@netuoso posted an article detailing how he is going to start working on Atomic Swap capability, at the base layer. This will not be a layer 2 solution but, rather, something that is coded directly into the blockchain. To provide Witness the flexibility of accepting it or not, without killing the other ideas in a hard fork, he proposed designing it as a plug in.
This is really big news. Essentially, the idea is to allow for Hive users to interact with any smart contract based blockchain, swapping Hive for another assets (wHive) which then would interact with the smart contracts. In this example, it would open up all that is tied to Ethereum.
Obviously, with the DeFi craze and how people look at cryptocurrency, the first thought is money. However, if we look at cryptocurrency in its rawest form, it is really just data. Thus, we have the ability to assimilate between a number of different blockchains.
Where is this most valuable? Consider the possibilities for developers. The article states it best.
This would essentially give developers the ability to build applications on whatever supported blockchain they wish and have the functionality translate to the Hive blockchain.
Again, using Ethereum as an example, anything that is build on that blockchain could be tied into Hive through the swaps. The smart contract is resident in Ethereum dictating whatever the process is, which then could be carried out on Hive, if desired.
Here is the full article:
@netuoso/atomic-swaps-with-hive-core-integration
At this time I also think it important that we mention this is being done under a present Proposal already funded. Netuoso is handling a lot of the base coding for the blockchain. While he certainly is not the only one, having more participate is essential.
Adding to the scope of the Proposal without digging into the funds any more is a benefit to all on Hive. For that reason, take a look at the Proposal and consider giving it your support.
https://peakd.com/me/proposals/80
Sometimes we want coding to be done in an instant. Many of us get impatient when things are delayed or we see upgrades happening on other networks. Some people mentioned how we are about 5 months into Hive and yet to see a Hard Fork, something that was discussed since the start of Hive. The insinuation is that Hive is going nowhere because of the delays.
Obviously, those who are involved with coding understand the nature of the beast. It is design and then get into pest control because it is a life of bugs. This causes delays as more coding is required.
Nevertheless, when we see what is happening, we begin to realize how quickly things can change. Not having a central authority dictating the direction of things means that any path can be chosen. This example shows how a couple of developers picked up the ball and ran with it. One had the freedom to do as seen fit while the other got the feedback from the community. The result is the same: Hive could be on the verge, through this development, of something explosive for it.
Here again, this is not something that will appear in the next week or two. Even after coded, testing and recoding will be required. That said, we can begin to see a direction that things are moving in, at least as it pertains to what is being discussed here.
To me, this entire process is building upon what was developed before. For this reason, we see the impact of later developments becoming more evident in their scope and reach. When the foundation is in place, all development that takes place after that is more evident. Often, back end stuff is overlooked by the users yet is vitally important.
We are seeing more taking place in the few months post fork than we did for the last couple years with a centralized organization heading up Steem. The most exciting part is to consider where we will be a year from now.
If you found this article informative, please give an upvote and rehive.
gif by @doze
