Some days provide a lot of insight into what is going on with Hive.
This platform might not have the most developers but the one's that are here are very good. A lot takes place in the background. Sometimes, though, we get a glimpse of all that is coming.
Obviously we are aware with what is taking place at the base layer. There are developer calls every other week and posts about what is taking place with the next hard fork. This helps can help us to understand how strong the base layer is becoming.
However, that is not the only aspect to what is taking place. The second layer is where all the action is. In fact, Hive's success in the future is dependent upon what is developed at this level. While we cannot deny the importance of the "big stuff", often a lot of smaller improvements can have enormous results.
So what are some of the things taking place.
There is little doubt that Binance Side Chain became very popular. We see a lot of growth on there with DeFi absolutely exploding. Even Leofinance set up a DeFi project there with CubFinance.
Getting to Binance can be a bit of a hassle, especially for those in the United States. Even using VPN has resulted in people having their accounts such down by exchanges.
Enter BSC Bridge.
This was developed by @deathwing. It allows for HIVE to BNB conversion. Itis a one-click process, enabling people on Hive to go directly to BNB. For the time being, this is a one way application meaning that the reverse cannot take place. However, it does appear that this might change in the future.
The application does charge a 2.5% fee yet that could come down if it becomes popular.
Here is the introduction post.
Deathwing also runs a witness node so if you find this application of value to the Hive ecosystem, then consider giving that your support.
Onboarding is an issue that is discussed a great deal. One of the areas that many feel needs some work is the ability to get into Hive directly from fiat. While there are a few exchanges, we often see the requirement of going from fiat to another before entering HIVE.
There is a belief that the value proposition of Hive would be increased if the coin was easier to acquire directly from fiat. This is a difficult challenge since it often requires advance compliance from the regulators. For example, in the United States, the second you deal in fiat, you are effectively operating as a bank, requiring a lot of the same licensing and regulations.
In the comment section, we see this:
Later on in the comment section, it was mentioned that it would be handling the EURO to start.
If nothing else, this will make life a bit easier for those living in the EU who are on Hive. It will allow for direct entry and exit in the native currency.
One of the biggest drawbacks to cryptocurrency in general is the lack of places to spent crypto. Granted it is the early stages yet we are still lacking that avenues which will enhance the overall value of cryptocurrency. More use cases only provides a better user experience.
You can sell all kind of items from physical products, digital downloads like ebooks and music, or external products, like links to affiliate products or external markets like NFT markets, example: You are an artist and have NFT's on different markets like @nftshowroom, @lensy, or even on other blockchains like WAX or ETH, you can list each piece as a product in your Hivelist store and just set the product up to link out to the appropriate market. Some NFT markets require you or really encourage you to use their markets, mainly because of the way the original artist is paid.
This could end up being something very interesting. Anyone can become a vendor. What is appealing about this project is that it is integrating products wherever they are. Thus, no matter where it is located, for example, a NFT, that can be listed in someone's store.
Essentially, the goal is to provide one location for people to go, yet pulling together all the products from different projects, especially digital ones. Thus it is a value add application to all else that is out there dealing commerce.
It allows people to have all their wares in their store.
Is any of this going to make Hive a Top 5 Blockchain? Of course not. We see nothing Earth-shattering here. However, with projects like this, we are seeing some gaps filled in. Each one of this addresses a specific problem. It is good to see them getting some attention.
When it comes to user experience, it is often the little things that make the difference. People have a difficult time understanding this because we tend to be such a rush, we do not ponder all the different factors that go into rounding out an entire ecosystem.
The only time we are aware of this is when there is something we want and it is missing.
Quite frankly, as we know, there is still a lot missing from cryptocurrency and Hive. The coders are still working a great deal on infrastructure. This is going to continue for the next few years. However, while that is being done, we see some applications appearing that will help solve a few problems too.
In the end, it all adds up. Major leaps in process are most often due to a lot of little steps forward. In this era of instant gratification, that can be difficult for many to accept. Nevertheless, this is how things work.
Based upon these announcements, we can see that Hive is continually progressing. If we got news like this each week, imagine where we would be in a year or two.
Slowly things are starting to fall into place.
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