I've seen a post by the Magi Network recently making Hive one of the few blockchains that support BTC natively within its ecosystem.
That's a big milestone that deserved a new top-level post from my side after a good while. I will likely add a little bit of liquidity to one or both of the currently supported pools myself very soon, when I do my regular Hive financial operations. Of course, to make it attractive, more liquidity and activity needs to happen on the Magi Network, to grow it. The post also mentioned DASH will be added soon, and maybe next might be LTC. All those being in native support, backed by HBD collateral of the node operators, if memory serves me well.
That's good for Hive for two main reasons:
- the native support for external coins itself and pools with LPs earning fees from transactions
- new, likely important use-case for HBD, the ecosystem's stablecoin
I obviously like that, as well as other newer developments I see from time to time on Hive (more often than before, given the AI boost in productivity for experts and non-experts alike), but with my relatively detached view lately, I understand maybe more than before that success needs many ingredients, some controllable others out of control. It also depends on the route one takes. For example, Hive, with its birth and focus on not having a CEO, a company behind, etc., will likely not appeal to those entities that are built top-down. Decentralization is hard, and even Hive can't always (or everywhere) follow this philosophy, and there are enough counter-examples people who look for them point out.
It is quite difficult to predict what will make it in crypto and what will not (maybe easier the second category, but not always), how long would it take for developments to be priced in or what will get disrupted and when. Maybe there are hints on what will get disrupted, but on the when part, many have tried to predict that and failed over time.
I still consider the crypto space a world of its own separated by the rest of world despite more interference and control from the old world, even if more and more bridges are built. But those bridges will always be choke-points, as we see now with the Strait of Hormuz for oil, gas, fertilizers, etc., and the rare earths for building anything electronic (and not only). That's why I keep what I have in the crypto space on this side of the bridge for a future where that would be useful or necessary, and building up assets on the other side too.
Getting back to the Magi Network, we probably need to see more liquidity in these pools and more activity...
Likely time will take care of that if the network operates smoothly and more pools are added and more apps start using it.
