Hive as a Social Media Platform - When Mass Adoption?
If you are clicking on this post hoping to get the answer on when the mass adoption of Hive will happen - then I am sorry. There is no answer here in the post. I don’t know the answer. I had this question pop in my head after listening to a podcast this morning.
The Bitcoin Investor Podcast is a popular show in the crypto space. They talk about bitcoin, crypto and finance in general. There was a recent episode where they invited the creator of the Damus app which runs nostr on IOS.
You must have known about nostr on Hive or somewhere else. Recently, @brianoflondon published a post that provides details on how to create an account and what to expect of it.
For those new to Nostr - It is a decentralised network based on crypto keys and that is not pair-to-pair. Sounds familiar- yes- it is almost like Hive. Bitcoiners are flocking to Nostr and are touting this as an alternative to Twitter after the platform was on the infamous list that Twitter posted banning the promotion of the platform on Twitter.
Jack Dorsey is supporting the project and that gave the project additional tailwind. All this to say that the Bitcoin Investor Podcast invited the Damus Founder to talk about the project and explain how it is a groundbreaking platform in providing alternatives to Twitter.
— jack (@jack) December 24, 2022
The more I listened to the podcast, the more I thought why Hive is not garnering all the media attention that Nostr is getting given there is not much difference between these two platforms. I am still a newbie in explaining Nostr functionality as I am new to lightning nodes, networks and how those things work. But, the principle is fairly similar to Hive where there is no KYC and public and private key-pairs are used to send messages and content across the network.
So, why is Hive not getting Nostr-like attention?
It is not associated to BTC
Nostr seems to have captured the bitcoiners’ attention as there is lightning network integration. It could also be the impact of Jack Dorsey’s endorsement and he added financial support to the network. The developers behind the platform are bitcoin insiders and maximalists. Hive has bitcoiners but it is not a bitcoin preferred network- at least that’s what I think. I may be wrong.
Twitter listed the platform as competitors
Getting highlighted by Twitter is one of the best media coverages one can get for free.
The user registration skyrocketed on Nostr right after the twitter list.
Hive is never considered a competition by anyone. I do not even see VCs and investors mentioning Hive as an alternative social media platform when they are researching similar products.
It is a dead/old concept
The platform had all the limelight when it was introduced before my crypto time. The Steem days are over and investors do not like to go back to the 2017 tech. Maybe the idea that Hive is using the DPoS tech and not being able to get critical mass using their products is considered cliche and a red flag. I do not know if that’s the case but needs to be considered.
I use Hive daily and like the platform and engagement. I am not sure why the platform is adopted by the masses.
Maybe it is due to the complexity of adoption. But, I am surprised how a very similar Nostr platform is considered user friendly in the podcast.
I am still confused how the use of cryptographic keys and use of multiple front-ends by nostr is considered cutting edge and the same in Hive is not new. Either Hive is way ahead of its time and will get mass adoption in the future or investors are neglecting the project altogether.
Let me know your thoughts around Hive and mass adoption.
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Hive is flying under the radar for the most part in many elements but I don't think that's necessarily a bad thing. We've got our work cut out for us, could we really handle 100,000 daily active users hitting the network and the front ends with thousands of posts, comments, images and others? I don't know if we are ready for that type of traffic! It's crazy because a lot of these major social platforms have that every single second and take in millions of users in a day.
I don't know what the magic bullet will be but I know that the complexity (pun intended :D) of the keys is a big learning curve.
As well, I think the DPOS and relatively true decentralization is another driver. There isn't a mass exodus from the major platforms yet and they keep pushing the boundaries towards that eventually happening but with the direction that Twitter is going, I think people are flocking to that instead of the likes of Fakebook and others.
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I agree with your points. But, I want to understand the flying under the radar situation. It is not like the project is unknown to investors. Even Vitlik mentioned Hive many times on Twitter while explaining the importance of community in crypto projects. Steem and Hive debacle was covered by almost all crypto news outlets. In that case, are we still under the radar? The crypto graphic key pairs for nostr is considered one of its kind which sounds funny for hive users like me.
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