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The OGs of Decentralized Social Platform
When it comes to social media, one thing we all love is the ability to share our thoughts and make new connections. That dynamic changed completely back in 2016 when the Steem blockchain was launched. Later, a better and more promising version was given to this world in the name of Hive Blockchain which was hard-forked from Steem blockchain. Unlike Steem, Hive has not only survived but evolved, creating a space where people are still earning, building connections, and many new projects compared to Steem and that is why hive has proven to be a better decentralized platform.
That is why, for those of us who have been around, the concept of a decentralized social media platform is not at all new. It is been around for nearly a decade as Steem was launched back in 2016 and then hive in 2020.
Coinbase Launches Base, Everything App
Recently, I came across an article about Coinbase launching a new mobile app called Base. Initially, it sounded like an upgraded version of the Coinbase Wallet which used to be a basic Web3 wallet I have personally used in the past. But now, its being promoted as an "Everything App," allowing users to interact within an on-chain economy that combines social media, finance, entertainment, and even AI tools all under this one single app known as Base.
And I will admit this that it is a big move taken by Coinbase. Coinbase deserves a thumbs up for this effort. We don’t have many apps that bring all these Web3 elements together seamlessly. So in my opinion, with good execution, this will definitely attract a huge number of people to the Web3 and Blockchain which is eventually going to benefit the adoption of the technology.
Earning with Content: Nothing New Here
While reading more about this new app, I came across one of their most wonderful and appealing features which is the ability to monetize your on-chain content like text, images, or videos so that means earning on your content in Web3 is not possible with this app but that immediately hit my mind and I realized that It’s not new at all. In fact, we have been doing exactly that for years on Hive and platforms like Inleo where even the threads are worth earning good rewards for the people.
On InLeo, you don’t need to go viral to earn. Just by engaging meaningfully, writing threads, or posting content, you can earn leo tokens on Inleo while on the Base app your content must go viral in order to earn something. And if you are a premium member which is open to all the people and can be bought for just 10 USDT, your posts even get curated by top curators from Inleo and if you are reading this blog, I am one of them with real experience.
I would say that this is not just decentralization but it is a sustainable decentralization.
Hive - History of Rewards
Some people might think that monetization of content in web3 is a dream come true but let’s not forget that this dream was already a reality on Hive years ago. Back in Hive early days, people earned even in thousands of dollars per post. I know that the current token price is not appealing as before or the last bull run but even today, hundreds of dollars are being earned by many people every month and I am one of the the user who is earning as well.
Hive has proven that rewarding quality content is very much possible and believe me there is no space for Plagiarism here as there are people hunting those post and in case you are found to be doing anything downvotes are also available to control the negative behavior.
We deserve to be mentioned
While I am not here to criticize the new Base app which is said to be the everything app, I do feel that any articles published about the same should have mentioned the OGs of Decentralized Social media platform, especially Hive, which has not only built a decentralized social media platform but has sustained it for over five years without the support of any big names backing us unlike in the case of Base app built by Coinbase.
Apps like Base may bring a new flavor with features like chat based transactions and AI implementation but let us not forget that Hive was built with one clear vision which was to create a decentralized social media platform like the centralized ones already in the market but where the content was rewarding for people who post them and we saw hive accomplishing it very well.
We have also seen rapid development where numerous sidechains and games were developed on Hive blockchain and even today we see projects under development so we have not stopped yet.
Development and Marketing difference
Now of course, Coinbase has professional dev teams and funding that allows for rapid development and they are also good at marketing. Meanwhile, Hive is a fully open source and community driven blockchain where most of the developers starts without any funding or marketing. At most they can be funded using a proposal option but nothing more than that and that is why development here takes time, and marketing is minimal but no problem as we are still here improving with each day.
Despite the odds, Hive has survived five strong years without being marketed on a big scale and the marketing strategies here involves common user promoting hive under projects like Posh. That is something to be proud of and so if the community remains united, I am confident we will continue for the next 10, 20, or even more years for sure.
That's All
So while I am genuinely happy to see new apps supporting the web3 adoption coming to the market, I felt it was important to write this blog and share my honest thoughts. I just wanted to make sure to mention the one and only OG social blockchain in the world via this blog which I think I was able to do very well.
That’s all for this blog and not I would love to hear from you about what do you think about these upcoming apps? Are you planning to switch to them, stick with Hive , or maybe use both? personally I am not going anywhere as I give my time here only and threads on Inleo keeps me busy all the time.
Thank You and Happy trading Everyone.
