Steem and Hive are more or less the same blockchain technologies with numerous DApps, and some are still under the development process. These are two leading platforms for blockchain decentralized applications.
When it comes to Hive, it has developed from a fork of the Steem. Well, this came as a response to TRON taking over the Steem. Thus, the Steem community launched Hive as an alternative to maximizing decentralization. After the launch of Hive, several experts have been speculating whether Steem and Hive will coexist. In simple words, will Steem DApp development be still relevant?
Before delving into which is better – Steem or Hive, you need to be familiar with DApp and a brief history of these two blockchain technologies.
- What is DApp?
The concept of the decentralized application is still in its infancy. But it has great potential to disrupt traditional applications. DApp is an application that runs on a decentralized computing system. Thus, it is more secure, resistant to censorship and transparent. With these advantages over conventional mobile applications, DApp development has a bright future.
Talking about the user interface of DApps, they look similar to any other website or mobile app. The core logic of a DApp features a smart contract, which is a fundamental part of the blockchain.
- Where does DApp run?
As mentioned already, decentralized applications run on distributed computing systems like Bitcoin or Ethereum. Steem and HIVE are two blockchain technologies that have created an ecosystem for DApps to run successfully.
- A brief introduction of Steem and HIVE
Created in 2016, the primary purpose of Steem is to power Steemit. It is a crypto-based social blogging platform. Steemit DApp is the best way to make money because it rewards everyone, from content creator to upvoter and anyone who does any engaging activity.
On the other hand, the HIVE is a new blockchain-supported content creation platform that is created from the fork of Steem. Designed to unleash the potentials of decentralization, this new blockchain has numerous. To determine which is better, Steem or HIVE, read further.
Differences between Steem and HIVE
- Number of DApps – When it comes to the number of decentralization applications, Steem has more DApps than HIVE. There are around 100 DApps in Steem blockchain, whereas HIVE features only 27 DApps. However, the quality of DApps in HIVE is better because of an increasing number of developers.
- Tokens – The basic token of Steem blockchain is STEEM with Steem Dollars as a rewarding token and for witness voting, STEEM POWER. On the contrary, the Hive has two tokens, like HIVE and Hive-backed dollars (HBD). The best thing about Steem tokens is they are available on various exchanges. And only limited exchanges have Hive tokens.
- Stability – The long-term value of HIVE tokens seem to be unstable because it was created in an emergency. The current price and a market cap of HIVE are almost equivalent to Steem. But the value of Steem may also vary, depending on various factors. For example, TRON is planning to swap tokens that enable STEEM holders to exchange STEEM with TRON-based tokens. As a result, it may affect the token prices.
- Leadership – As compared to HIVE, Steem is a well-renowned blockchain. The platform was first created by Dan Larimer, the brain behind Bitshares and EOS. However, due to some reasons, Larimer quit the project in 2016 and handed it to Ned Scott, the co-creator. With TRON CEO, Justin Sun, owning Steemit after the acquisition of his company, people are unsure whether the leadership of Steem will change or not.
As for now, the HIVE does not have official leadership due to lack of community support. The community involves around 30 developers and 80 contributors. There is no company supporting the project.
- Ownership – Unlike Steem, HIVE does not have controlling bad actors and has diverse stakeholders community. Therefore, users can experience true ownership in a DApp. So, we can say that the absence of leadership is the advantage of HIVE.
- DApp ecosystem – Primarily, Steem supports Steemit – a blockchain-based social blogging platform and Hive serves Peakd. Both of them host various third-party DApps.
Some of the most significant DApps of Steem are the decentralized video hosting app – DTube, the trading card game – Steem Monsters, and photo-sharing app – APPICS. Some DApps migrated away from Steem and became a part of HIVE. These are 3speak – the video hosting platform and Splinterlands – the collectible card game.
Similarities between Steem and Hive
- The primary similarity between these blockchain technologies is that they both rely on DPOS – Delegated Proof-of-Stake consensus. It enables token holders to vote for witnesses that govern the blockchain and help in decision making.
There is no best or worst between Steem and HIVE, as both own a strong position in the blockchain industry. Of course, they do have their advantages and limitations. So, choosing between Steem and HIVE entirely depends on an individual’s needs and preferences.
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