Excited about HF25 on Hive and waiting for the new features

By Bala | Bala | 27 Jun 2021


We still have a few more days to go for the new HF on Hive which is bringing some exciting features. I would like to share my thoughts on this new HF and would like to describe how I welcome each of those features. If you would like to know about the features HF25 is bringing, you can read this post.

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First the name of the HF

I really admired the way they decided to name the HF as Equilibrium. Though the HF is not bringing full linear rewards for the users, I'm glad that one of the key features of this HF is to make it fair for both manual curators and automated curators. The name Equilibrium was decided because they are making it equally fair for both parties.

I would like to say that automated curation is not something that we can completely avoid. It is important especially when we go on a vacation or when we not staying away from our devices for a longer period of time. Even if it is one day, we cannot miss doing curation right. That's why automated curation is definitely good for the ecosystem.

But in the current setup people rush to vote in the first few mins and that is what is considered as sniping activity which gives more and better reward than curating later. I'm glad that the first 24 hours are now becoming linear rewards. I wished the remaining duration was also linear rewards making it less complex but they wanted to keep it that way so it is okay.

More manual curation

Many people are eagerly waiting to start doing more manual curation. Especially people would like to curate more comments than posts as the rewards are going to be fair and same. I personally have planned to vote on comments made by uses on my post. I'm going to have that as a new habit post this hard fork.

The next thing that I'm excited about is that I don't have to worry if the post already has a big pending payout or not and simply go ahead with curating good content. My rewards from the voting are not going to be affected for voting late or if the post already has a bigger vote. That's another good thing that I'm excited about.

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I would like to take this opportunity to request people to review your automated votes and make them manual. With this new HF, we get lots of flexibility to decide the way we would like to vote without affecting the rewards a curator gets. So it is now the best time to wake up and do fair votes. Voting for our friends automatically is good. But this is the right opportunity to diversify our votes to good authors as well.

Hive is getting DeFi in the form of HBD interest in savings

This is the next feature I'm excited about in this new release. We already had a DeFi where people were still getting rewards for their HBDs but post this HF, Hive can be used as a stable coin investment platform by just holding HBD. Previously the interest on HBD was only around 3% but post-HF there is a high possibility for the interest to be more than 10% which is again decided by the top witnesses.

I see this as a good opportunity here because people who don't even know about the Hive ecosystem can now use Hive as a platform for stable coin investment alone. 10% or even 7% interest on HBD is good compared to all the centralized interest-earning opportunities available out there.

HBD price is also going to get stabilized after this HF where it is expected to be maintained at 1$ similar to USDT and other stable coins. This was the main intention why we had HBD created initially but good that it is getting into the right practice at least now. I'm sure there will still be a small manipulation in the price either short-term or long-term inspite of stabilizing because we do have HBD listed on exchanges as well. But I believe the new code should be able to handle it and surprise us by keeping it stable at 1$.

If you notice HBD price below 90 cents in the coming days before HF, I would recommend purchasing it and selling them for a decent profit post HF after which the price will start to stabilize.

Witness and proposal votes by an account expire after one year

This is also a good feature but it is too early for me to say if this is going to work well or not. I personally feel that it is not going to be a big deal for proposals that are lesser than 1 year. Maybe this can help a bit in rotating the witnesses but not sure how useful this can be.

I was expecting to see a downvote option available along with the voting option. That will make things fair because we know it is very easy to exploit the proposal system and also it is hard to get a good proposal funded because of the threshold set by the Return proposal.

Let's hope things get better and we have even better options in future releases.

Overall kudos to everyone who worked on these new features for HF25 and thanks for keeping this ecosystem wonderful and secure. Let's take the price of Hive to the moon by onboarding more projects and utilities.


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Bala
Bala

Developer | Writer | Blogger | Gamer | Blockchain Enthusiast


Bala
Bala

This is my general blog. I share different articles I write every single day.

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