Why Hive is an excellent blockchain to add alongside your EVM portfolio
Hive, hiding in plain sight
EVM compatible chains are incredibly useful in these early days of the Web3 ecosystem, and offer many benefits. But EVM chains come with their drawbacks, as do all blockchains.
I've spent the last year plus working in Web3, and have talked with countless individuals and communities that rely on a variety of EVM chains. One observation I've seen (as a Splinterlands employee) is that Splinterlands is hiding in plain sight, despite being the largest decentralized application in all of Web3. Much of the reason has to do with the layer 1 chain it sits on - Hive (which is not EVM compatible).
Hive is an incredible chain, and I'd be shocked if Web3 natives willing to explore it a bit further didn't want to jump in the fray... whether to build or supplement their own applications, or to enjoy Splinterlands and the variety of games Splinterlands has in its plans to release (some of which are quite soon). Not to mention you won't pay any gas fees on Hive!
How Hive compares to EVM chains
Hive is a blockchain that was created as a fork of the Steem blockchain, and it has several features that differentiate it from other blockchain platforms such as EVM (Ethereum Virtual Machine) based blockchains. Here are three benefits of Hive compared to EVM blockchains:
Speed and Scalability: Hive is designed to be faster and more scalable than EVM-based blockchains. The block time on Hive is just three seconds. This means that a high volume of transactions can be processed every second. Additionally, Hive has a higher maximum transaction capacity than Ethereum, which makes it more suitable for high-traffic applications.
Decentralization: Hive is a more decentralized blockchain than EVM-based blockchains, such as Ethereum. This is because Hive uses a Delegated Proof-of-Stake (DPoS) consensus algorithm, which allows users to vote for block producers who have the power to create blocks and validate transactions. This system helps to ensure that no single entity can control the network, making it more resistant to censorship and manipulation.
Community and Governance: Hive has a strong and active community that is heavily involved in the platform's governance. The platform has a decentralized decision-making process that allows community members to propose and vote on changes to the network. This system makes Hive more democratic and transparent than EVM-based blockchains, which often rely on a small group of developers to make decisions about the platform's direction.
Overall, Hive's focus on speed, scalability, decentralization, and community governance make it a compelling alternative to EVM-based blockchains for a variety of applications.
More details on the nuances and details of Hive can be found in this detailed article published on Bybit in November of 2022.
History of Hive
It's one of the most fascinating stories in Web3 that goes unnoticed, with some big names in Web3 directly involved. Hive is a hard fork off of the Steem blockchain (which was created by Dan Larimer), after a contentious and controversial fight for its future after Justin Sun attempted to usurp the Steem community.
Read more about Hive's dramatic beginnings here!
Why add Hive dapps to your portfolio, and/or build on Hive?
In short, if you enjoy gaming, creating content (i.e. posts like this on PeakD), and/or decentralized social media, Hive is going to be a new wonderland for you.
Splinterlands is the gold standard in GameFi. It has had over 3.5 billion games played, and over 2 billion transactions in nearly 5 years since launch. Even in this bear market (hopefully we're at the tail end), all assets in the Splinterlands ecosystem combine for an estimated market cap of $160M (!). And land is likely going to supercharge that figure.
More games are coming. Some are being produced by Splinterlands (if you like Tower Defense games, Soulkeep is about to launch on the Splinterlands site), some are being produced by other developers. Tower Defense gamers, check out Soulkeep here!
And the Splinterlands team has grand plans for a new, dominant gaming ecosystem meant to attract games of all types (including Web2 games) to capitalize on the many benefits its platform and network offer... most of all the scalability, speed, and absence of gas fees. For more information, I'd be happy to discuss... just hit me up!
How to add Hive dapps to your portfolio
Sign up through Splinterlands: One of the simplest ways is to simply sign up for a Splinterlands account, and purchase a spellbook (which sets up your Hive wallet automatically). I created this simple guide to outline the 4 steps involved.
Sign up through Ledger and other apps: There are also a variety of other ways to create a Hive wallet, based on your preference... all of which will be easy for Web3 natives to understand. Here is a launchpad to explore your options.
Get the Hive Keychain browser extension: After you have your keys, I highly recommend Hive's Metamask equivalent (browser extension to store keys and easily sign transactions), Hive Keychain. Here are easy instructions for doing so.
Enjoy your exploration of the Hive ecosystem!
