The Solana Debacle || Can Hive Handle Large-Scale Issues?
Solana devotees are confident that they are experiencing scaling issues as a result of the failed TX, and I will not be one of those to point fingers and claim that they were not prepared for any potential scalability problems. While rival projects are creating meme content and discussing Solana's downtime, I believe it is simply one of the issues that most Blockchain projects will face, especially as the industry grows.
I will not sit here and say Hive will handle all of those transactions flawlessly; rather, I will say Hive will make an effort; we have been preparing for massive scalability since the Blockchain became Hive.
We're Built For Potential Abundance
To some extent, we are
We have the RC system, and millions of accounts can be created for almost nothing, so these abundance preparations may lead me to believe that Hive is 90% prepared for any scalability issues, but when we only see the top-end of transactions, I can not say for certain. For example, having 5 million accounts running transactions concurrently.
However, during the bull run, Hive handled the transaction load quite well, especially with all of the mega attraction from splinterlands, and personally, I do not believe we will suddenly hit those transaction requirements that will tip the scales of the Blockchain and cause downtimes and such.
It is simply impossible. Whatever growth happens to Hive will happen gradually, but with Hive's current position, I do not believe there will be any transaction volume that will be a problem for the chain, and this is because we have been preparing for the abundance that we have not yet seen, and we are going to keep upping the ante.
Bad PR or Not?
As for Solana, the downtime is bad PR, but it is a very good problem to have. However, there are so many people in the cryptocurrency space, and any glitches or imperfections in transactions will lead to mistrust of Solana as a Blockchain. This does not imply that they will lose their supporters, but it is simply bad PR and bad for business. No matter how big or small a Blockchain is, when people start receiving error messages that could lead to a loss of money, it kills their trust.
Money Over Loyalty
When it comes to money, there is probably no precedent; if you can not do it the way you have always done it, you start to lose identity in a space where Blockchains are competing for users and so on. This does not change the fact that Solana has done well for themselves. The market's hype has favored them, and people want to be where the money is. In comparison to Hive, Solana lacks the depth that we (Hive) have, which is why I believe we are better equipped to handle transactions.
For Hive
There is no doubt that we have the superior product in terms of Blockchain functionality, gamification, sophisticated system design, and tokenomics, and we will continue to sell it. It indicates that our time will come. There is always a challenge with being overly decentralized with so many projects that require funding and not putting the DHF to good use.
Many things will go smoothly if we organize ourselves properly. It is not that we are not growing; it is just that we are not growing at the same rate as other projects, and the grass is not always greener on the other side.
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We certainly have some capacity to run these transactions, it would be good to see Hive get the chance to scale.
I think we'll get a good chance to scale, but I feel we won't experience that huge and sudden scalability that'll make us glitch, I it feel that we'll be able to handle it, slow and steady as it comes
The truth is no blockchain has been able to scale with adoption, from ETH on downwards. We already see Hive blocks run behind even during a bear market, I can't imagine that magically improves during a bull. I like Hive, just being realistic.
You're right, I just technically feel that Hive at the moment cannot get that scalability issues until maybe we get it right with marketing and hit the top end of adoption. It is a good problem to have, so it's not a totally bad omen for Solana
Tbh., I would like to see HIVE having that kind of issue... 🙂 The problems and mistakes are making you better, and to have that kind of users and transactions like SOL had recently, would be a real pleasure to see on HIVE :)
As Aftersound said in his comment, probably every current blockchain would fail in a similar way as SOL... Happened with ETH, BTC, MATIC, etc. and it will happen again... What is important is to learn a lesson, fix the issue, and continue to build... Bad PR gets forgotten if the product works afterward...
I would like that too for hive. The PR of Justin Sun was somehow bad back in the steemit days, but it made us popular and this was one of we we did very well in the bull market of 2021. So yes, it won't be bad to have a good problem, one that shows growth.
You're right, eventually the issues will only make for improvements, as there won't be need for fixing if something wasn't broken
The truth is sometimes I usually wonder also probably if hive can be able to handle it when we go more large. Do we have systems in place that can sustain them all
Getting the adoption would show.
I think the Solana criticism is largely due to it being built for scale at 50,000 transactions per second. Even with the massive capacity, they failed to account for the amount of meme coin degeneracy.
In my opinion, Hive hasn't been tested to the degree Solana is getting pounded. And I think it is partly that Hive does not have smart contracts. Hive only does simple transactions very well, which I think has been an unintentional blessing that the developers never got around to making it smart contract capable. You mentioned resource credits. I think RCs theoretically slow down abuse by individual accounts. Although I have yet to use a significant portion of my RCs, I can imagine it could be possible to burn through them.
Yeah, I don't think a lot of people use significant part of their RC but I hear that in the future it can have more use cases other to to just help an account transact well on the chain.
You're right, smart contract isn't a thing. Somehow it might just be a blessing in disguise, just to ask extent, maybe one day we can do more than we are doing. As for Solana, you're right, it's getting pounded, smart contacts are complex and it's no shame that they're not able to handle beyond what they can currently do.
I do feel that Hive is gradually prepping, although and to some extent it can handle to the degree what is thrown at it, although we never can tell. Thanks for the comment
I think Hive can handle some big scale projects, but not all in one fell swoop. SOL will do just fine in my opinion, it would be nice to see Hive reach those heights wouldn't it?
It would be nice to see Hive get tested with those huge sophisticated transactions. It'll be a good problem to have. I feel that we'd handle it better, we're more equipped
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Thanks a lot
The fact is that this project is very strong and we will see it increase in value in the near future.
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The downtime is an issue because it shows that Solana is just not ready for the influx of new users. I think Hive will be fine because blocktrades worked a lot on optimization but we won't know if it is enough. It still depends on what will happen though.
Well they didn't know it'll happen this way and to be very honest, I feel it's a good problem to be having. I'm certain they'll be able to fix these issues with time