A comparison between the Hive and WAX blockchains
HIVE and WAX are both decentralized blockchain platforms that are designed to support decentralized applications and decentralized autonomous communities, organizations, and apps. Even if there are several key differences between the two platforms that set them apart, as I use them both I find great features that could be migrated in one form or another from one platform to the other. But let's see how are these blockchains distinguishing one from the other and what are bring the best to the table.
One of the main differences between HIVE and WAX is their respective focuses. HIVE was created as a fork of the Steem blockchain and is focused on providing a decentralized social media platform. On the other hand, WAX was created specifically to support decentralized marketplaces, particularly for virtual assets such as video game items and NFTs.
Another key difference is the scalability of the two platforms. HIVE is known for having a faster block time and lower latency compared to WAX, making it more suitable for applications that require fast transactions. On the other hand, WAX is built on the EOSIO platform, which provides greater scalability and a more robust infrastructure compared to HIVE.
In terms of governance, HIVE is a decentralized autonomous community that is governed by its stakeholders through a voting system. On the other hand, WAX has a more centralized governance structure with a limited number of elected block producers responsible for maintaining the network.
Finally, the two platforms have different tokenomics. HIVE uses a proof-of-stake consensus mechanism and rewards its users for contributing to the network through a token distribution system. In contrast, WAX uses a delegated proof-of-stake consensus mechanism and rewards its users through token distribution as well as transaction fees.
Overall I think that both HIVE and WAX have their own unique strengths and specializations. While HIVE is well-suited for social media applications, WAX is better suited for virtual asset marketplaces. But at the same time, they both have the potential to become more and at least Hive can expand and incorporate more features. And enriching the NFT marketplace and taking it to the next level is one direction that would benefit it the most.
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There seems to be some overlap between Hive and Wax because the Hive ecosystem is so vast. I would like to see improved NFT historical data on Hive that we can see on Wax, but I don't know how easy that would be to implement. This is important for gamers I think.
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Yeah, getting a fully decentralized and unitary NFT marketplace on Hive would surely make it more appealing than ever. But I guess for that we would need decentralized smart contracts and second-layer infrastructure and that's still in the works for ages.
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A great write-up about the differences! As a crypto noob, I was already wondering what makes them different.
I definitely agree with this!
We can be so much more, just need to focus on supporting new features by expanding the current Hive infrastructure.
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Yes, I totally agree. I have the impression that we're expanding with more new features every month. So slow and steady we get better and better.
Just gotta say it. Hive is a no brainer
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That's for sure, just that we need to keep growing and bringing other features and successful infrastructure to Hive.
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Not a competition, but in my opinion, Hive for the win
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One more difference between Hive and WAX is that WAX has RAM. It's quite annoying and you have to pay for NFT space whereas in Hive, you don't have to pay for anything like that.
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That's true and I agree with that. While CPU and NET act like on Hive and you can earn from it by staking, RAM you just need to pay for it.
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I see that Hive would be much cheaper to use, in terms of resources. On WAX, stacking into RAM, CPU is mandatory, if you want to have some kind of benefit. The 100 Hive for RC is nothing compared to the needs of WAX.
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Even though onboarding Hive can be a bit overwhelming and confusing for newbies, some things on WAX can be really, really annoying. For example, staking RAM & CPU and getting those error notifications and don't even understand what they are saying.
Good post, btw!
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I thought both HIVE and WAX were DPoS.
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Hard to compare because they're both incredibly powerful
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In my personal opinion Hive is better than wax because The comment also supports very well the new users coming here and that's why its user base is increasing and we will see in coming days it is very popular all over the world will be done. As we have seen last year the prices of NFT projects went up a lot but now their prices have come down a lot due to which people no longer believe in such projects. stay.