Rethinking Our Blockchain Choices - BSC, Solana, Hive
The Fault In Our Chains
Guys. What are we even doing? 2 days ago I was stuck in a trade trying to ride a Meme token pump on Solana, but as soon as it was time to take my profit, the blockchain got congested and I watched all my profit plus capital drain before my eyes.
That’s not even the problem, so, okay, I’m done trading memes, I want the rest of my money out of Solana ecosystem, because I’m just done, I tried to send it out, but guess what, the blockchain was congested and transaction failed, it’s been over 2 days now, still congested. What if I had an emergency?
But How Are We Here?
Many are saying it’s due to Wormholes airdrop transactions botching up the chain, others are saying it’s one Meme token or the other, my own question is how have we allowed such an half baked potato of a blockchain take this kind of important position that is holding the masses to a ransom whenever it can’t handle average operations?
It’s not the first time, or second or third time that Solana will do this, but somehow, we’ve somehow adjusted to the mediocrity performance being offered by this product. What even baffles me most is that this situation could have been understandable if Solana was the only option available, fortunately it’s not.
And before anyone mentions Binance smart chain, I tried swapping some tokens the other day and it cost me $0.8 the first time and the second time $1.2, you can say the network was busy, congested or whatever but do you know where I’ve never experienced such fees or botched network?
Digging wrong
On Hive bro, and it’s really baffling that the things we brag about being capable of doing on Hive are things majority of blockchain users suffer from by using other blockchains. So I ask again fren, what the heck are we even doing? Many people see Hive blockchain as the censorship resistant protocol for media platforms…..
But the chain is way more than that. The other day, I mentioned how it felt like Solana was a blockchain for trading memes all because that’s what it’s most popular for, the chain is capable of much more, but being known for trading memes just means it honed meme trading. It’s like someone honing a craft.
The Hive Goldmine
It’s the same thing with Hive, because Hive is known as a media protocol doesn’t mean that’s all it’s capable of. Hive can serve as a perfect platform for meme trading, transactions are fast and feeless, it will take billions of transactions per second to botch up the network unlike Solana or BSc with its averagely low fees.
So again, what are we doing? Why is Hive not a thriving ecosystem in trading memes? Is it the lack of VC money? Is it lack of technical know how? Or have Hive users brainwashed themselves into thinking Hive is only good for gaming and blogging?
Why have we not capitalized on Hive's strengths? Is it perhaps that we've become too comfortable in our niches, too set in our ways to push boundaries? Or maybe, it's the lack of exposure, the outside world not seeing the vast capabilities Hive holds beyond its blogging and gaming frontiers.
It's high time we start a revolution, a movement that showcases Hive not just as a sanctuary for bloggers or a haven for gamers, but as a robust, versatile blockchain capable of hosting a thriving meme economy. The potential is there, staring us right in the face, waiting for us to harness it.
The question of VC money or technical know-how may play a part, but more than that, it's about perception and initiative. It's about the Hive community coming together to innovate, to experiment, and to take bold steps into uncharted territories.
We've seen Hive's resilience, its ability to handle transactions at a scale and speed that leaves many other blockchains in the dust. It's time we leverage this, to build and promote platforms within Hive that cater specifically to meme trading, making it as big of a draw as blogging and gaming have been.
So, what are we doing? We're standing on a goldmine, yet digging in all the wrong places.
It's time to pivot, to redirect our efforts towards showcasing Hive for what it truly can be: a universal blockchain, not just for blogs and games, but for anything and everything, including the dynamic world of memes.
Thank you for reading. Kindly share and comment.
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Posted Using InLeo Alpha
Yeah! What if we have an emergency and we need that liquid FIAT or crypto from Soplana or any other. the same happened to me. I've been waiting for 2 days to get my $pixels tokens from their game into my Ronin wallet. This is crazy. There are so many instant or almost instant transactions into the blockchain right now, that these kind of delays are primitive and unfair. And another: In 2 days, the volatility of a token can mean a lot. I can loose or earn just because they stuck that for 2 days. But keeping my money on these platforms is a risk, for sure. Lucky we have Hive.
This was the result of the congested blockchain for me, I couldn’t cash out and watched the profit and capital drain
In the old days, we could file a complain and things could get solved, I think we should do something about that also. Accessibility, especially private, individual accessibility to our own assets/collectibles in an instant should be a must and get penalized if otherwise.
I’ve not been a fan of Solana it seems very fake and pumped like. The transactions are supposedly fast and low fees but we are here with this stuff and it’s showing how poorly it performs under load. So many of the transactions on these chains are thousands of bots like TRON boasting XYZ but it’s 90% garbage bots going back and forth and not actually content.
Could hive perform under the pressure of 100,000 people trying to transact every hour? Hard to say, we at least have resource credits to help balance things out but I don’t know if it could handle 1,000,000 people trying. I doubt Solana is getting 1m but 100k easily is what we can aim for.
There are bots, scammers, cartels, and everything you can think of, people pump one token and hop to another and pump again. So individuals try to milk the pump, sometimes get lucky, other times they loose.
I’m not sure how much transactions Splinterlands does, but combined with other dapps and transactions it must be high. I’m just sure Hive can do better than Solana.
It lacks smart contracts, at least for now.
Yeahhhh this….sadly
Or, maybe, it's because there is a cabal working to see hive fail, or at least limp along until they have a controlling interest in it.
I find it hard to believe this 😂
That is what 'they' count upon.
You were here for the 2 year development walkabout that stinc went on?
We just went 2 more waiting for smart contracts.
Why do you figure that was?
Because they want to hurry up and make us successful?
But isn’t that at “their” own detriment?
Not if it is the plan to hobble us.
Most of the people that were original investors left with their profits a long time ago.
Few, if any, large stakeholders are in a position to lose money, if my guess is right.
Even if hive went to zero.
They took their seed money out a long time ago.
Sure they will lose what they could have had, but it costs nothing out of their pockets.