It is always said that Hive is one of the best blockchains out there. Comparing the data with the top blockchains gives us good insights. We can keep saying that Hive is the best blockchain out there but we need concrete data to provide why it is the best blockchain. I understand there are some challenges on Hive making it not easy for a new user to understand all the concepts on Hive. But that's definitely not very bad. Most of the blockchain concepts are hard for new users to understand.
Today when I was checking Coingecko, I found the below image. It was a comparison with the other blockchains. I see this data as very motivating and there are many advantages that Hive provides to users that are not available on other chains or rather I would say Hive provides features that are better than other blockchains. I know the below data is pretty old and probably not up to date. I have not validated but mostly I'm going to be talking about the advantages Hive has, so it shouldn't be a problem I guess.
There are two parameters seen as an advantage in the above image. One is the Transaction fee and another is the transaction time. Compared to other top blockchains these two are the advantages we have on Hive. I agree that there are also a few other blockchains out there that are faster than Hive but feeless blockchains are very limited.
Transaction fee
Feeless transactions are a great boon on Hive. On other blockchains fee is one of the biggest problems I would say. Maybe people who are used to this might not find it hindering but people who are used to feeling fewer transactions on Hive might find it hard to work on other blockchains where every transaction involves a cost. Especially I find it very hard to do things on ETH because of the gas fees. I got this feeling only after working on Hive. Maybe if I had worked directly on ETH, I would have not had this feeling but after seeing a blockchain that has free transactions, seeing other blockchains that charge a lot for each transaction is not giving a good feeling.
Block time
This is an important criterion that defines how fast a blockchain is. This gives so much advantage because people building a dApp on Hive would be able to validate a transaction faster. This way data gets stored on the blockchain faster than expected. But sometimes being a developer on Hive, I personally have felt that even the 3 seconds delay is a bit slow at times. I'm now imagining how hard it can be to code on chains that have bigger block timings. Some blockchains and dApps still manage with higher block timings. For example, there is a lightning layer on Bitcoin which is a second layer and that still keeps the activities faster and the transaction is accumulated and broadcasted in the consecutive block. It is a unique and innovative way to handle things on a slow blockchain like Bitcoin.
If you like what I'm doing on Hive, you can vote me as a witness with the links below.
Vote @balaz as a Hive Witness
Vote @kanibot as a Hive Engine Witness
