HIVE is has been going through a major problem of being utterly overlooked and there are things we can do about it. There is very little to be done about improving underlying technology. HIVE is already far ahead of most projects in cryptosphere when it comes to features, decentralization and security. What we don't have is the network effect and brand recognition.
HIVE Failed to Get The Attention STEEM Did
Take a look at the video which is doing a good job and covering the niches to focus on for the next bull market. It does have the basics right IMO. The problem I have is that the section about decentralized social media looks very poorly researched when you contrast it against what already exist on HIVE. They surly know about STEEM and Steemit and Justin Sun has been doing a good job getting his website visitors in droves despite having less quality content that HIVE. HIVE community must accept this as a failure.
The Most Important Missing Piece for The 2024 Bull Market
I have already written abut this several times and it would be best to read the article linked in the title to get the full context. The bottom line is that we must make it as easy as possible to buy HIVE or any other asset on HIVE as easy as possible.
@terablock-hive has made this process one step easier. There is more work left to be done and with DHF funding extra features will come faster. One of the oppositions I have seen is that TeraBlock should build a profitable and self sustainable business on their own. In order to do that, they need a large number of traders who are interested in HIVE and other related assets such as LEO, SPS, DEC etc.
Id HIVE does not look like an ecosystem where developers can make a profit, they will not build on HIVE. If there are less DAPPs, there will be less avenues to onboard new users and investors. HIVE will become like a console without many games. This is a dangerous place to be at considering what rest of the competition is doing.
We Are Using Decentralized HIVE Fund Wrong
I do think we are using DHF slightly better than we used to. There is no point of HODLing $HBD while inflation eats up the purchasing power of the dollar. The only good reason to not spend the money IMHO is when the money is asked for a scam or something counterproductive. When there is good infrastructure, more developers can join an ecosystem. Ethereum has this taken care of better than any other project I have seen. Whatever you want to develop on Ethereum, a large number of the tools and code that is necessary is already available.
That is one of many resources to learn and start building DAPPs on Ethereum. If there are investors who wants to get in, it is extremely easy to get their hands on some $ETH and and after that they can easily use a DEX to invest in other ERC-20 Tokens and more. We have to replicate the same experience on HIVE. If there are developers with their own DAPPs, they will act out of their own self interest to market HIVE. @leofinance is and @splinterlands have already done a great job at this.
Live Demo of TeraBlock
It was a very pleasant surprise to see @splinterlands come up when I clicked on "Live Demo". TeraBlock partnership has helped make it easier for players to invest in @spliterlands assets. The same can be done for HIVE. Overall, centralized solutions are inferior to decentralized ones. This distinction exist on a spectrum; not a binary. TeraBlock has a GitHub page for HIVE along with repositories for other parts of their offerings.
Gaining more eyeballs and improving brand awareness is going to be very important during a bull market where narratives and perceptions along with ease of investing has the biggest weight in moving prices. There is very little attention given to smaller projects and the size of userbase and the network effect becomes extra important for both decentralized social media and gaming. HIVE is almost exclusively focused on these two niches.
We Need Get Back in Top 100 Cryptocurrency
DHF has a dally budget of 223,873.062 HBD with only 16,886.090 of it being used daily. This is a 7.5% utilization rate. I have seen many good Proposals from people like @kencode and @ecoinstant fail to receive any funding. When others see DHF being stingy, they are more likely to focus on a different ecosystem that is more generous with giving grants to projects that are building on top of it.
At the moment, HIVE is not even on investor radars. I am not even talking about the average investor who cannot to explain what a smart contract is. I am talking about HIVE going completely unnoticed by investors who spend most of their time in cryptosphere. I used to think of marketing as the thing we lack. Now I realize that HIVE is lacking in an even more vital resource. HIVE does not have enough development going on for it.
I do know about the amazing things @vsc.network is working on. Read their article on future of Multisigs & cryptography on HIVE. These developments should have happened a long time ago. If there was a focus on Hackathons, we could have attracted many good developers early on to build DAPPs. At the moment @splinterlands is responsible for the largest portion of HIVE activity and user counts. This is great to see as an investor in Cards, Land and SPS. At the same time it is disappointing to see HIVE not having more killer DAPPs.
I'm not a programmer. I don't have a lot of money. I don't have many friends either. What I can do for HIVE is being an active member and write articles. I try to make my content SEO friendly and I wish to see people discover my articles and gain something valuable out of them and eventually be a part of decentralized social media. I have added fuel to this fire and it is time you add contribute what you can. Even a little bit can go a long way when thousands of us combine our efforts.