We are looking at Hive move from its isolation.
For years, people asked for more listings in exchanges. This is not going to happen with the centralized ones. However, we are seeing initiatives that are going to span outwards.
In this video I discuss VSC and Leo, two projects that are going to have direct swapping into the major coins and tokens.
▶️ 3Speak
Now we are spanning “outwards”?
What were you all doing for the last several years? Shillong inwards? Lol
Yes but outwards also gives it visibility and people like the allure of exits. It's an odd thing.
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It is great to see hive.blog going out of it's silo and we can see exchanges happening with other cryptocurrencies.
I think this should have been available a long time ago. A lot of chains have bridges to make it a little easier. But with these two available, it might be even better. I've read that Thorchain doesn't wrap its tokens, so if this is also true for the Maya/Leo swapping, then it would be easier to move tokens.
Unrelated, just an observation... This post has 387 likes... But only 5 views? Either people just blindly vote or the inleo counter is in test mode or something? weird
It's nice to let you know that your article won 🥇 place.
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STOP or to resume write a word START Summary:
In this video, the host discusses two important developments that are helping Hive blockchain bridge outwards and connect with the broader cryptocurrency ecosystem.
The first is the work being done by the Hive-based VSC (Virtual Service Chain) project to create a wrapped Bitcoin token that can be used on the VSC network. This would allow users to transact with Bitcoin-pegged assets without having to directly interact with the Bitcoin blockchain. VSC is also partnering with the Value4Value app to integrate this wrapped Bitcoin functionality with the Lightning Network, further expanding the connectivity.
The second development is the upcoming listing of the LEO token on the Maya DEX. This will allow Hive users to swap HBD and HIVE for LEO, which can then be used to access a range of other cryptocurrencies like Bitcoin, Litecoin, Ethereum, and stablecoins like USDC and USDT. This provides more on-ramps and off-ramps for Hive, improving liquidity and making it easier for investors to enter and exit positions.
The host emphasizes that these two initiatives are significant for Hive, as they help transform the blockchain from an "isolated island" to one that is more integrated with the broader crypto ecosystem. Improved liquidity and accessibility are crucial for attracting more users and investment to the Hive network.
Detailed Analysis:
The host begins by explaining that Hive is starting to build bridges to the outside world, with two key developments currently underway. The first is the work being done by the VSC (Virtual Service Chain) project, which is focused on creating a wrapped Bitcoin token that can be used on the VSC network.
The host notes that the VSC team has been testing the ability to wrap Bitcoin and transfer it back and forth on the VSC network, without having to directly interact with the Bitcoin main network. This is seen as a powerful capability, as it mimics the functionality of the Lightning Network but on the VSC platform. While the Lightning Network currently has greater size, liquidity, and transaction capabilities compared to the still-developing VSC, the host believes this wrapped Bitcoin functionality is an important step.
The key development here is that VSC is partnering with the Value4Value app, which was created by Brian of London. This partnership will integrate the wrapped Bitcoin functionality with the Lightning Network, allowing users to seamlessly move between the two ecosystems. The host explains that this is a significant bridge, as once users can access the Lightning Network, they gain the ability to transact with a wide range of cryptocurrencies and services.
The second major development discussed is the upcoming listing of the LEO token on the Maya DEX. The host explains that getting listed on DEXes (decentralized exchanges) is a crucial challenge for many projects, and this move by LEO is an important one for the Hive ecosystem.
With the LEO/CACAO trading pair on Maya, Hive users will be able to swap HBD and HIVE for LEO, which can then be used to access other cryptocurrencies like Bitcoin, Litecoin, Ethereum, and stablecoins like USDC and USDT. This provides more on-ramps and off-ramps for the Hive ecosystem, improving liquidity and making it easier for investors to enter and exit positions.
The host draws a comparison to Tesla's Bitcoin purchases and sales, noting that the company likely used these transactions to test the liquidity of the Bitcoin market. While Hive may not need to handle billion-dollar transactions at this stage, improving the ability to execute $50,000 or $100,000 trades is still crucial. The host argues that this enhanced liquidity and volume will be attractive to investors, as they will have more confidence in being able to enter and exit positions as needed.
In conclusion, the host emphasizes that these two developments - the VSC wrapped Bitcoin integration with Lightning, and the LEO listing on Maya - represent significant steps in Hive's transition from an "isolated island" to a more integrated and accessible blockchain network. Improving liquidity and connectivity are vital for attracting more users and investment to the Hive ecosystem.
