Hello guys it's my first time posting in this community I'm thankful for today's topic because it has actually helped me think about the advantages and disadvantages of Hive and it has also given me a maximum knowledge of the concept of Hive.
UNDERSTANDING HIVE.
Before we actually look into the merits and demerits of Hive it's important to know what Hive is in a broad sense. Hive is a decentralized open source platform built on blockchain technology, it is designed or programmed to facilitate the creation and operation of the centralized application and smart contracts.
MERITS OF HIVE.
Every concept to be considered always has an advantage so we will be looking at the advantages of Hive, the advantages are as follows:
Hive Is Scalable: scalability is the ability of a system to perform well under an increased or expanding workload, Hive has always thrived under an increasing or expanding workload, is still thriving, and will always thrive.
Hive Is Flexible: flexibility in this context refers to all development features which includes fast payment processing, lower transaction costs, increased security, flexible payments options, no middle man needed, it also portrays decentralization in markets, Hive has flexibility in all this areas that are of importance in the system, since it supports various data format and storage systems.
Community Development: Hive has created a system that brings together or connect developers, entrepreneurs, enthusiasts, and people of same category so as to share ideas, information, hence improving in their different fields.
Empowering Decentralization: Hive contributes to the decentralization of various sectors and systems, it offers security, transparency, and efficiency in processes ranging from chain management to financial transactions.
Crypto currency Integration: HIVE is the cryptocurrency of the Hive blockchain and its plays an important role in the ecosystem, Hive provides an alternative financial system and fosters financial inclusivity.
Social Media And Content Creation: Hive empowers users to create, share, and monetize their contents directly, this has also opened up revenues for content creators and showcased hidden talents in the Creator.
DEMERITS OF HIVE
same way Hive has advantages it also has disadvantages let's surf through those demerits, they are as follows:Regulatory Uncertainties: uncertainties in future policies changes in the regulatory environment, that may adversely affect Hive and consequently an investor's investment in Hive.
Technological Infrastructural Limitations: lack of developed technologies can actually militate against the easy going of the Hive blockchain.
Latency: not suitable for real-time queries.
Learning Curves: hive requires understanding and complex fathom ability to maneuver.
CONCLUSION
Every concept has merits and demerits same way Hive has its prowess and flaws, with proper development,I believe the Hive blockchain can be a system without flaws in the nearest future.
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