Analyzing today's absurdity par excellence of Trump's memecoin made me realize one critical thing, which I wanted to share with you:
One of the biggest advantages we will have on Hive with HAF (Hive Application Framework) is the fact that there doesn't need to be a side-chain or rollup. This means all transactions will happen directly on Hive, resulting in no chain fragmentation.
Why does that matter?
When you look at today's Trump memecoin launch, the reason Solana was chosen over Ethereum — even though the latter technically would have been the more solid choice — is because Ethereum's might has been reduced by too many rollups.
Launching a memecoin directly on L1 Ethereum is extremely unattractive due to high gas costs. While L2 and L3 on Ethereum have much lower gas fees, even popular L2s like Base aren't strong enough in the memecoin arena compared to Solana.
If you've been using Solana before, you know how congested it can become. If you've been using it as a developer, you might have experienced how annoying it can be to work with it. None of that matters though, because enough memecoins have been launched on it, attracting liquidity and making it the de facto standard for memecoins. Ethereum's focus on rollups, rather than cheap native transactions, is, in my opinion, the primary reason it has lost this historic and absurd battle for Trump's memecoin.
To summarise:
By focusing on native transactions on our L1 via HAF, rather than abstracting away to multiple sidechains, we channel all of our reputation as a blockchain on a single branding, rather than multiple layers/rollups competing. As HAF continues to mature in 2025 with lite accounts and hopefully smart contracts (smarc), it will allow developers to build scalable applications without fragmenting the ecosystem.
I honestly don't know much about Solana, but I thought Solana was chosen because it's an easier onboarding experience, especially for non-crypto people. Is that what you meant in the comparison with Base? Or is it more of a liquidity thing? (Or something else?)
Base should be on the same level in terms of onboarding. It's probably that more people have liquidity on Solana for memecoins than on any other chain, which in return attracts more memecoin projects to it, resulting in a positive reinforcement circle.
Yeah, that makes sense to me.
Also, I searched for you on Warpcast under therealwolf but couldn't find you. I'm pretty active there. Would you mind sharing your account name?
Sure. I haven't been active on there for a while though: https://warpcast.com/wolfonchain
Thanks!
All in-house transactions means NO FEES!! 😉😎🤙
SPS chain is going to be a Layer 2 on Hive, right?
Yes, correct.