Have you wondered why the same data yields varying interpretations? Such a thing happens not only in politics but also in the crypto space, particularly if you have a script that you want to gain support for.
What causes the difference? Is it possible to be purely objective in our interpretation? Or can we not completely escape from our subjectivity?
Out of many potential causes of differences in interpretation for whatever information there is, I think the selectivity of our attention and the framework or worldview we are coming from play a big role in the outcome of our reading. At least, in crypto, I don't see it as a waste of time. In politics, ideology-driven narrative is tiresome and exhausting, and that is why I gave up on it several years ago. Unfortunately, most of my friends still have energy and time to waste in discussions that lead nowhere.
To talk about justice, poverty, capitalism, and other hot topics in politics and at the same time do nothing that is something concrete within your immediate sphere of influence—I struggle to describe such a waste of resources that we have, be it time, money, or human energy.
What led me to the foregoing reflection is the discovery of this site. I am not sure how reliable the information provided by the website is. One could just pick up info from the website and draw negative conclusions about Hive. It is similar to debates where both sides often use the same statistics to justify opposite conclusions by highlighting their preferred aspects. Nevertheless, that's not my aim in publishing this article. For the sake of exploration, I want to know how the selected frontends on Hive fare in comparison with popular platforms like social media and crypto exchanges.
For social media, I checked Facebook, YouTube, X, and Reddit. As for crypto exchanges, I am more familiar with MEXC and Bitget, and so I want to know their Internet traffic in comparison to Binance and the Dexes that we have here on Hive.
Below is the table that shows selected data to achieve my goal:
| Platform | Traffic Rank | % of Global Internet Users | Potential Ad Revenue | Estimated Value | Daily Visitors | Monthly Visits |
|---|---|---|---|---|---|---|
| YouTube | 2 | 19.83% | $45,935,900.20/day | $67,799,570,658.35 | 1B | 29.6B |
| 3 | 7.90% | $19,328,842.97/day | $28,570,823,794.86 | 389.7M | 11.8B | |
| X | 5 | 2.90% | $6,562,172.58/day | $10,659,749,949.26 | 142.9M | 4.3B |
| 9 | 2.62% | $2,769,511.17/day | $3,365,981,791.77 | 129.3M | 3.9B | |
| MEXC | 4,074 | 0.02% | $12,556.79/day | $13,087,533.80 | 1M | 29.7 |
| BitGet | 4,492 | 0.01% | $41,721.91/day | $56,967,865.98 | 464.6K | 14.1M |
| Binance | 136 | 0.24% | $69,453.13/day | $65,967,092.05 | 11.8M | 357M |
| HiveBlog | 113,520 | 0.0002086% | $76.53/day | $69,946.9 | 10.3k | 311.7k |
| PeakD | 341,912 | 0.0002965% | $326.42/day | $388,023.12 | 14.6k | 442.8k |
| Ecency | 1,196,168 | 0.000224% | $71.25/day | $68,452.94 | 11k | 334.6k |
| InLeo | 8,898,472 | 0.000000304% | $12.70/day | $10,248.95 | 1.5k | 45.4k |
| LeoDex | 329,460 | 0.0007% | $291.65/day | $222,945.65 | 34.5k | 1M |
| Hive-Engine | 760,045 | 0.0036% | $90.12/day | $81,546.99 | 26.3k | 795.8k |
| HiveStats | 718,614 | 0.0004% | $116.34/day | $87,873.01 | 19.7k | 597.5k |
| Splinterlands | 71,014 | 0.0001349% | $532.16/day | $629,454.46 | 6.7k | 201.6k |
We can name the above table as Traffic Analysis of the Hive Network.
How are we going to interpret the above data? Observing the data provided by HypeStat, I have several tentative conclusions, which I highlighted by making the numbers bold.
One, if we compare the % of global Internet users of mainstream social media such as YouTube, Facebook, X, and Reddit to decentralized social media like HiveBlog, PeakD, Ecency, and InLeo, the numbers show a gigantic gap. For some, they find this discouraging. It is as if, after all these years, the majority remain clueless as to the existence of decentralized media for social engagement. Moreover, this also should temper our optimism with a dose of humility. Yes, we love to talk about replacing Web2 platforms with Web3 platforms, but the numbers show that this is not happening.
When it comes to crypto exchanges, even though Binance is the number one cryptocurrency spot exchange, 0.24% of global Internet users show that less than one out of 100 is into crypto. If even MEXC and Bitget are not that popular, I wonder what it would take for people to see the potential of decentralized crypto exchanges like LeoDex and Hive-Engine?
Among the eight front ends of Hive, it is interesting that a gaming platform receives the highest traffic rank. Thanks to Splinterlands for bringing the world to take notice of Hive. I think many of us had never heard of Hive but came to know this network via Splinterlands.
Another surprising insight is that Hive-Engine receives the highest percentage of global internet users compared to the other seven platforms. I wonder why this is the case. What made Hive-Engine so popular compared to other Hive platforms?
As for potential ad revenue, I don't know how HypeStat came up with that data. As far as I know, only InLeo attempts to generate revenue from ads, something that I think is good for the long-term sustainability of the platform. Or maybe HypeStat is not aware that the Hive front-ends have a built-in internal mechanism for incentivization. Nevertheless, some Hiveans think that, in addition to internal incentives, revenue from outside is a great way to grow the value of the platforms on Hive.
Again, when it comes to estimated value, Splinterlands is the leader among Hive front-ends, followed by PeakD.
Lastly, when it comes to daily visitors and monthly visits, I think the InLeo team tapped a huge opportunity to introduce Hive to outsiders, and this is done through LeoDex. I think it is now time to check this innovation and see in what way Hiveans can help to support promoting Hive.