Markethive | Evolving Technology Challenges The Status Quo

 

 

Evolution is the operative word poignant to every living thing and inanimate object on the planet. One of the fastest evolving elements I’ve seen in my lifetime is in the field of technology. We’ve seen more growth and emergence in technology in the last 100 years than in all the centuries leading up to today, and it’s accelerating. It has undoubtedly created a faster pace, more convenient, and comfortable lifestyle. The one thing that is still around is the age-old oligarchal type monopolies, wielding their clout, but for how long? 

Digital technology stems from divine inspiration. When used correctly for the betterment of humanity, it is a beautiful thing; however, we’ve all been subject to nefarious activity driven by greed, power, and control. Like everything else, technology must evolve, or it becomes obsolete eventually. The issues that have manifested and become problematic give rise to emerging technologies to counter them. 

Since the dawn of the internet, we have seen a consistent evolution in technology. One example is Yahoo back in 1994, providing a web portal, search engine with related services including email, finance, video sharing, etc. Then the MySpace social network came on the scene in 2005, surpassing Yahoo and even Google in 2006. But in 2009, MySpace was overtaken by Facebook globally.          

Falling From Grace

Complacency or the attitude of “too big to fail” can often be the demise of a successful organization. Ongoing research and development is a must to stay at the forefront. I also believe a company’s values, ethics, and purpose for the higher good play a prominent role, especially in the current circumstances being experienced worldwide. 

Many may think that Amazon, Microsoft, Google, Facebook, and a few others are here to stay as they have a dominant position in the market; however, it’ll be because they improve technology and evolve if they remain. Being number one in the market is not automatic, nor is it free. It takes money to develop technologies along with marketing to retain users. 

That might seem doable for these tech giants, but what of their underlying agendas and motivations? Can or will a conglomerate evolve spiritually and humanistically? Or have they fallen into the ego trap giving them a false sense of security? Will they survive in a world of enlightened human beings? 

History tells us that competitors, at some level, can overtake large organizations, and now it is more critical than ever that people feel safe, secure, and free from the violations that have become so commonplace in the online space. Evolution on every level is the key to survival in the world of digital technologies. Evolution is not static; it is a dynamic process. 

Evolution in the technological world is fast becoming a revolution; A battle between good and evil, a tug of war between humility and ego drive. It may have been enough to surpass the top dog with only better technology in the past, but now it’s crunch time. The advent of the third millennium gives rise to the evolution of the human spirit, and altruistic motives need to be present in the next tech giant. 

Getting back to the technology side of things, users also desire the best in available technology. In the context of the digital world, people expect everything to happen in seconds and be very cheap, if not completely free. There’s also the need to have fewer entrance barriers, the better. It must be readily available, reliable, and user-friendly, and now we can add privacy, autonomy, and free speech to the list of needs that are fundamental human rights. 

The status quo of social and digital media, even marketing platforms, leaves a lot to be desired. Can they evolve in order to keep their top position? Are they in too deep and unable or unwilling to implement emerging technologies such as decentralized blockchain? 

Ecosystems Are Evolutionary

Evolution is a must and a natural process, and it’s no different when it comes to digital media. A few attempts have been made at creating an alternative to the tech giants that currently monopolize the online environment with cancel culture being the new order. We presently see a balkanization with many linear platforms in the mix. 

Just as the planet is an entire and complete ecosystem, we are now experiencing ecosystems in technology. This is an evolution in itself and is required if a platform is to be sustainable. Blockchain and crypto technology has made it possible for an innovative company or platform to develop a system from the ground up, which will solve many controversial issues plaguing social media today. 

At the forefront is Markethive, a complete ecosystem for the online user, be it social, professional, inbound marketing, commercial, artistic, or entrepreneurs from all walks of life, where every individual is empowered financially, professionally, and personally. 

Markethive, the Social Market Broadcasting Network, is constantly evolving, providing creative solutions and a sanctuary from the chaos of the internet. Blockchain technology has made it possible for Markethive to become the first completely decentralized social network, giving it the edge over technologies and systems of previous generations, including humanitarian values so desperately needed right now.      

The Evolution of Money

Paper money and coins are not the only money we use today. Money has evolved into a digital form using internet banking for transferring money and credit or debit cards. More and more people are using the internet for their banking needs. 

The banks are notorious for working at a snail’s pace and are not the best information technology innovators, so they evolve slowly. The trust factor has also become precarious. This has brought forth an evolution in decentralized blockchain technology that has a real potential to disrupt traditional banking, digital or otherwise.  

Cryptocurrency technologies can disrupt financial services, with the probability of becoming money and a store of value. Further technical development and evolution will see this happen to rival legacy banking and fiat currency with its hyperinflation. 

From a technological standpoint, money needs to evolve. The development of technologies needs to be a dynamic process, but the monetary base can and should be static. That means assets used as a store of value necessitate a fixed or predictable number of units. A predictable inflation rate is required with money when used as units of account and means of exchange. The inflation rate should be kept very low, and theoretically, it could even be at zero. 

 

Cryptocurrency Evolution 

Cryptocurrency technology must continue to evolve to become a viable alternative to traditional banking. There are now thousands of altcoins in the crypto space, many created by opportunists jumping on the bandwagon with no real purpose. They generate a coin for the sake of a coin with nothing substantial underpinning it. The outcome is a static one gaining no real value because their utility is limited or non-existent due to lack of development and foresight. 

Even Bitcoin has not evolved. Its progress in technology is plodding. Although we see much more awareness within the community now, even institutions invest in Bitcoin; it has its drawbacks and issues. It is not as decentralized as many think or expect. The PoW (Proof of Work) team behind Bitcoin is at odds with each other when issues arise. This stunts growth and evolution. 

However, Bitcoin is becoming an established store of value, and people are reluctant to tamper with it for fear of breaking anything. So it sits there, recognized as being the first crypto, allowing others to evolve, addressing the problems, finding solutions, and making it an all-around better experience for users. 

Bitcoin doesn’t have smart contracts and probably never will have. Ethereum came out with a smart contract protocol that is now experiencing bugs and human error in their PoW system. People have lost money as it has severe security issues and now very high gas (transaction) fees. 

The smart contract concept is very sound but needs to evolve and be better executed. Ethereum has realized this and declared it would integrate a PoS protocol. This is a huge undertaking and will take time, so of course, no timeline has been given as yet, to when this will take place. 

Bitcoin and Ethereum are not the be-all and end-all of cryptocurrency and smart contracts; it’s just the beginning. Evolution is in full swing with Cardano, having identified the issues that have manifested, working methodically, scientifically, and philosophically to create a fully decentralized blockchain PoS (Proof of Stake) platform and also become a better alternative to traditional banks or make them more fair and transparent.   

The Evolution Of Decentralization

But it’s not only about smart contracts. It’s also about the evolution of the quality of decentralization. Blockchain is the technology; decentralization is the movement. Relying on the PoW protocol is becoming doubtful and expensive! PoS allows for a more decentralized and scalable network. 

Let’s be honest. The current most extensive networks Bitcoin and Ethereum have costly fees. Expensive fees kill the usability of networks. Maybe it’s tolerable to pay a high fee when you use Bitcoin as a store of value and only make one transaction a month. We need to be able to afford to transact anytime, all the time, if we want a proper global payment system. 

Just the other day, I sent $10 worth of Bitcoin and paid more than double that in fees! We can have a global decentralized network with cheap and fast transactions. It is a natural evolution of technologies: no magic, just pure math and science.

Cardano can be thought of as a kind of insurance that can and is building a fully decentralized, stable, and scalable network regardless of what will happen with Bitcoin.
What About The Environment?
How much thought has gone into the impact on the global environment? We see the environmental impact of PoW (Proof of Work) like Bitcoin and other altcoins that use this model which consumes massive amounts of electricity. 

Why? Because this type of consensus mechanism needs an excessive amount of computational power with hardware devices that are expensive to buy and more expensive to run. The cryptographic algorithm that the miners must solve is complicated, and the power consumption used by Bitcoin recently estimated is more than that of the whole of Argentina. 

And what type of electricity are they using? Will they continue with fossil fuels, or will they commandeer renewable energy resources? Either way, it leads to unfathomable repercussions. 

 

According to this site, a single transaction of bitcoin has the same carbon footprint as 680,000 Visa transactions or 51,210 hours of watching YouTube.

Not only is PoW considered unhealthy for the environment, but it also slows down the rate of cryptocurrency adoption in the real world, as electricity bills can only be paid with fiat currency. There are also scalability issues as Bitcoin can only process seven transactions per second, and Ethereum comes in second place, transacting at only fifteen.

Bitcoin advocates have clearly expressed that they believe any environmental costs induced by mining Bitcoin via PoW are worth the broader implications it could have on society. Evolution in technology will prove there does not need to be any type of trade-off between cryptocurrency and the environment. 

This is where the PoS (Proof of Stake) method comes into play. The cost-effectiveness is extensive compared with PoW. It guarantees that much less electricity is used to mine cryptocurrency and verify transactions. 

Furthermore, the speed and number of transactions (scalability) increase thousandfold making it a far better option for mainstream adoption. The Cardano blockchain platform has effectively solved the three elements of the scalability issue: Throughput (Transactions per second), Network, and Data scaling. 

Markethive, now deploying the Cardano blockchain ecosystem, also plans to establish many mining hives distributed globally. This will create a massive surplus in electricity and be built on 100% green energy that supports the core distributed decentralized data-based systems using dWave computers, which utilizes the advanced theoretical technology of multiple parallel universes. 

 

Centralization Issues

These powerful computational devices are known as ASICs and have resulted in centralized organizations pooling their resources to buy thousands of devices that generate the highest mining power to more efficiently solve the cryptographic sum first (confirms and validates transactions). The winner gets a reward paid in Bitcoin.

The PoW system has proven to be unfair as the average individual has no chance of ever participating or competing to win the mining reward. The PoS (Proof of Stake) model prevents groups of people from joining forces to dominate the network. 

The Proof of Stake system essentially allows the community to contribute by buying any number of coins (although there is usually a minimum required) and holding them in a dedicated wallet. It freezes the coins where they are used to stake the network. PoS still uses a cryptographic algorithm; however, it uses a different process to confirm transactions and reach consensus.

The PoW model requires all of its miners to solve a complex equation, and the winner is usually the person or group with the most powerful and quantity of hardware. The PoS model randomly chooses the winner based on the amount they have staked. There are no block rewards; however, they get paid the transaction fee, which is determined by how much they’ve staked.

With PoS, there is no need for expensive hardware or high electricity costs. It’s proven to be faster, and you can simply mine from a typical laptop. So, of course, this negates any centralization issues making it a more fair and equitable system for all.  

 

The Beauty Of Evolution 

In its purest essence, technological evolution is brought about by innovative ideas and creative visions sourced from divine consciousness. It needs to improve on the current status quo, enhancing the lives of all humanity on every level. 

The first mover doesn’t necessarily secure its top spot in the marketplace, nor is it the best. Companies with foresight can learn from their predecessors’ mistakes combined with a culture of goodwill, can go far in succeeding for the company and the people they serve.  

As I mentioned earlier, this millennium brings to light the humanitarian, spiritual element. Unlike the industrial age, it’s not just about business and the bottom line; it’s about the development and well-being of the community holistically and cohesively. It is the era of love and peace. 

 

Written by Deb Williams
Chief Editor and writer for Markethive.com, the social, market, broadcasting network. An avid supporter of blockchain technology and cryptocurrency. I thrive on progress and champion freedom of speech and sovereignty.  I embrace "Change" with a passion, and my purpose in life is to enlighten people en masse, accept and move forward with enthusiasm.

 

The Humanistic Values Of Cardano And Markethive - A Divine Synergism

Cardano and Markethive - Two systems of the next generation on the rise, making their mark on so many levels. They will eclipse big tech disrupting the monopolizing status quo that the populace has come to accept and is part of their daily lives. As the monopolies conspire on who or what they will boycott or cancel out next, Markethive and Cardano have secured themselves in a position where the oligarchs cannot manipulate them. 

Markethive, the social market network, and Cardano, the blockchain technology company, are congruent in many areas. Apart from both being blockchain projects, the spiritual, humanitarian aspect is a major common denominator with the synergistic purpose of manifesting personal and financial sovereignty, delivering freedom and connectivity to emerging countries, aligning them globally.   

The blockchain projects and cryptocurrencies that have endured the “crypto winter” of 2018/19 are not the scams associated with the industry’s early days and are now positioning themselves to deliver ecosystems that are unique and evolutionary. 

Both Cardano and Markethive have watched other blockchain projects follow the more Silicon Valley approach of “move fast and break things,” resulting in subsequent issues with security and scalability. Cardano’s prominent team has taken a notably academic and philosophical approach publishing 102 peer-reviewed papers, and Markethive’s approach is an innovative, holistic and evolutionary one. 

Both companies are of Divine inspiration and a massive undertaking building a solid foundation for the sustainable long-term growth of sovereign ecosystems empowering societies bringing the people of the world together equitably. 

CARDANO ECOSYSTEM - Crypto ADA
Blockchain And Defi Network

Cardano is wholly human-centered, with its ultimate mission to bring innovation and scientific-based technology, creating an ecosystem that is balanced, sustainable, and focused on the needs of its users. With the numerous applications Blockchain has, Cardano’s decentralized technology enables digital payments, smart contracts, food traceability, etc., all the technology necessary for systematic change. 

One of the aspects that the Founder and CEO of Cardano, Charles Hoskinson, is passionate about is using Cardano to unleash the potential of people in emerging countries. There are approximately 3 billion people “unbanked” who cannot access the infrastructures and institutions many of us take for granted. 

Cardano is taking its decentralized technology beyond Africa into other developing countries of South America and Asia in the food supply chain and Defi (Decentralized Finance). Charles says this technology has no owner and no central point of failure, and no one in control. Instead, it is a global infrastructure that uses the same infrastructure no matter how rich or poor you are.

A peer-to-peer lending protocol is one project of Cardano that will see a merger of markets in Ethiopia and other places with Defi. Micro banks cater to people with no bank accounts but are internet-enabled with increasing access to smartphones, building wealth, and desperately needing to globalize. 

Companies and individuals that get into this Defi ecosystem are the first movers in these marketplaces that will enable Africa and other places to grow and thrive in this new economy that is honest, fair, and transparent. A soulful Charles Hoskinson explains more in the video below.   

Decentralization With Good Governance

Blockchain is the enabling technology, but decentralization is the movement. Cardano is aiming to be the most decentralized platform in the world and is achieving its goal. It’s currently ranked number 5 on coinmarketcap.com and 71% of Cardano’s ADA token in circulation, with a total market capitalization of $38.7 billion at the time of this writing. 

Cardano has launched support for smart contracts as part of its ‘Goguen’ era, a time when decentralization and solutions to increase trust have ostensibly never been more crucial in modern history.

One of the reasons Charles Hoskinson ceased to work with Ethereum was a dispute over its governance structure. Cardano’s framework intends to - marginalize none and give power to all - through a system that incentivizes participation by individuals, and votes are immutably recorded. Hoskinson has prominently said that Cardano “will be 100 times more decentralized than Bitcoin.” 

Charles Hoskinson doesn’t dwell on price or get caught up in the short term. He says it’s more to do with the principles, vision, and a high-level goal to move from high-level to something to create real value for your token. If you have that, then the price works itself out. 

As Charles Hoskinson stated,

“There is a higher purpose and more meaning than digits on a computer screen. All we need to do is grow up and realize this is bigger than our egos and bigger than our wallets.”

 

 

MARKETHIVE - Ecosystem For Entrepreneurs - Crypto MHV
Sovereign Social Media & Broadcasting Market Network 

Markethive is committed to uplift our expanding community and bring forth the entrepreneurial spirit within each individual. Markethive is the ultimate market network, a complete ecosystem for Entrepreneurs leading the curve with Blockchain technology and cryptocurrency, making it a viable ecosystem that will survive the current and depreciating world economy. 

The Markethive platform is not only a forum for free speech on a social media front but also inbound marketing, saas, blogging, email, video, and media broadcasting network built on Blockchain with its consumer cryptocurrency coin (MHV). 

Wholly independent, the monolithic Markethive Network encompasses all facets of social media, inbound marketing, and digital media, making it the only platform to fully embrace an attainable sovereign income for all associates, particularly those in developing countries. 

As the Markethive community grows, we see an influx of souls from all walks of life experiencing the latest aftermath of a declining economy in the so-called “real world” of governments and bureaucracy. 

 

A True Decentralized Social Network

Markethive is a global company that caters to everyone. We are not specific to any national identity. We have no agenda, no left or right that invokes radicalization. Markethive is a meritocracy whose heart and soul are freedom, liberty, financial sovereignty, and entrepreneurialism. 

Markethive is unique with its cottage industry concept and driven by two engines that work simultaneously, bringing in the masses who aspire to be entrepreneurial and out from under the tyrannical pressures. Markethive runs on a decentralized network and is expanding continuously, facilitated by a dedicated team of engineers with CTO, Douglas Yates at the helm. 

With Markethive’s migration to the Cardano blockchain, we’ll soon see the release of the Markethive multi-dimensional wallet and MHV listed on significant coin exchanges. Then we’ll see the floodgates open. 

All the while, Markethive’s focus is to stay at the forefront of emerging technology, introducing unique and better solutions, enhancing all users’ experience, and who are the lifeblood of our entrepreneurial infrastructure. Markethive’s goal is to enrich the lives of people and humanity on every level. 

Just like Cardano, where the community will direct governance, Markethive is for the people, built by the people and of the people. This rules out the inequitable and autocratic power of the few at the top and cultivates a harmonious, more transparent environment.  

Founder and CEO of Markethive, Thomas Prendergast said,

“I got goosebumps when I became aware that Charles Hoskinson of Cardano’s passion was to bring economic sanity, stability, and entrepreneurial wealth to Africa. That is our calling too! Markethive is a mighty light on the mountain attracting the multitudes, the millions into our city to prepare for financial sovereignty and be free in this world of suppression and authoritarianism.” 

 

Creating And Facilitating Change In The World

Markethive and Cardano are here to create change, revive humanitarian values, working in synergy for all to have the freedom and autonomy to realize the goals, dreams, and life purpose of all individuals globally. The freedom to deviate from being just a cog in the wheel, to work, and be part of the legacy that has indoctrinated us from a young age and enslaved us to the system that looks at people as commodities and a lifestyle viewed as safe and predictable, but in essence, is restricted and soul-crushing. 

The world has changed, and the point of this technology is to change how society, organizations, and companies work. How we think and make decisions, what we value, to enable people to monetize things they never thought were monetizable. 

Cardano’s blockchain can facilitate Markethive in building distributed database clouds that are controlled by the blockchain. This will enable us to develop and issue downloadable wallets apart from the exchange wallet that will be made available as the first of Markethive’s wallet integration. 

It will also give us the ability to produce the type of blockchain that no social network has achieved; simply because social media platforms have so much data in terms of video, images, and content, previous blockchain generations can’t accommodate. 

You could fundamentally change the incentives behind passions and give people the means they need to pursue the things they love. What Markethive and Cardano are fundamentally doing is allowing the broader community to wake up every day and autonomously work for a cryptocurrency, knowing you are part of something much bigger where every individual can attain freedom of expression and financial sovereignty.

People are paid to have opinions and their passions, whatever they might be; art, psychology, science, engineering, writing, or marketing, to name a few, now have the opportunity with the systems Cardano is constructing. The many diverse platforms, hubs, and portals Markethive has and will be integrating bring your work or passion to the forefront in a liberated and equitable online world. This is the mandate of Charles Hoskinson of Cardano and Thomas Prendergast of Markethive to change the world. A match made in Heaven.  

 

Written by Deb Williams
Chief Editor and writer for Markethive.com, the social, market, broadcasting network. An avid supporter of blockchain technology and cryptocurrency. I thrive on progress and champion freedom of speech and sovereignty.  I embrace "Change" with a passion, and my purpose in life is to enlighten people en masse, accept and move forward with enthusiasm.

 

 

The Humanistic Values Of Cardano And Markethive - A Divine Synergism: The Humanistic Values Of Cardano And Markethive - A Divine Synergism ...

BANNER IMPRESSIONS EXCHANGE REVIEW

BANNER IMPRESSIONS EXCHANGE REVIEW:   BANNER IMPRESSIONS EXCHANGE REVIEW ...

 

BANNER IMPRESSIONS EXCHANGE REVIEW

 

Understanding The Metrics And Strategies Of Marketing 

There are many facets to Markethive - It is a complete Market Network and broadcasting platform with a Social Media interface. It has everything you need to succeed in whatever you do online, including the potential of extra revenue made available to Entrepreneur One (E1) associates through the first of many upcoming money machines - The Banner Impressions Exchange. 

It is a concept and unprecedented innovation where Markethive returns 100% of the ad-revenue into your pocket. There have been 20+ years of high energy poured into Markethive. This is a Divine inspiration and places all of the members of Markethive first and foremost. 

It’s been almost a year since the launch of the Banner Impressions Exchange (BIX), with many seeing great results on both fronts.

1. Selling impressions on the exchange.
2. Banner advertising campaigns

Still, many are still unfamiliar with the strategies of metrics and the unique system Markethive offers by sharing its significant and ever-increasing traffic with the community. Given that it’s coming up to the first anniversary of BIX, I thought it appropriate to revise and update the Banner Impressions Exchange features and benefits and how you can maximize your marketing efforts by understanding the metrics.

 

Markethive Banner Impressions Exchange (BIX) Overview

The Banner Impressions Exchange is a system that delivers to the media buyer a transparent value for their impressions in an exchange-type environment. This ensures open market principles, allowing anyone who wants to advertise their banners on all of Markethive’s domains to buy impressions from the exchange, similar to purchasing coins in a coin exchange. The market sets the price. 

This means that the CPM (Cost Per Mille = 1000 impressions) you pay is based on the market setting the price based on demand, effectiveness, and availability. This also means third-party sites can join the Markethive Banner Impressions Exchange to put their impressions up for sale based on the same principle of supply and demand and the free market driving the value accordingly.

The BIX is part of the Entrepreneur One Upgrade arsenal, where an equal share of impressions derived from Markethive’s massive traffic is allocated to each E1 member every month.  An E1 member can create a Banner Ad business within the Markethive system by reselling their impressions on the exchange for any member of Markethive to purchase. If you do not need to use them yourself, why not sell them?  

Furthermore, the remaining impressions allocated for any given month are rolled over to the following month. This means that if they are not assigned to a particular banner advertisement or sold to a buyer within the current month, they can be used the next month along with the new allocation of impressions. 

However, the end goal is to utilize this commodity by either placing your banners on prime real estate or on-selling them to someone who wants to use them. It’s not practical to hoard your supply of impressions - they are a limited resource to an ever-expanding market. The demand is going to continue to increase.

Forms of payment for impressions can vary and are at the seller’s discretion; however, choosing MHV, Markethive Coin, as the transaction process is straightforward, as payments are automated within the system. The other methods such as BTC, ETH, Paypal, and others are done manually and need to be managed by the seller.

Banner Advertising Campaigns

This banner service is for Entrepreneur Level Members Only and all members that have purchased banner impressions through the BIX. 

In other words, anyone who is holding impressions in their Markethive account can create a banner that is displayed on what is considered AAA online real estate. The complete Markethive Network includes all pages, websites, and the many domains Markethive owns. This means your banners are viewed not just by members within Markethive but also by the vast internet traffic and onlookers. 

Important to note: Some specific guidelines and qualifications need to be followed when creating a banner: 

• Ensure your banner is sized to 960px x 80px.
• Use images with white or transparent backgrounds.
• Images must not touch the border and can only be 20% of the banner area.

For more clarification on the banner creation and the guidelines, please refer to MARKETHIVE BANNERS SLIDES AND INFOGRAPHICS FREE & AVAILABLE. 

Keep in mind these banners are viewed on the complete Markethive Network and all other systems we have, so the number of impressions any banner receives will be exponential. 

Understanding The Different Metrics

Many randomly post advertisements hoping they bring results without knowing the statistics of the process. Sorting out the data produced by an online advertising campaign can be an intimidating task, especially if you’re new to online advertising. If you’re a marketer, you will have heard of the terminology used to measure online ad campaign statistics. Still, it’s not always clear or understood how they are differentiated and why all metrics are equally important. 

Many understand the importance of social media engagement; however, when it comes to strategy, it’s critical to know the difference between the key terms or metrics that are frequently used, as it will help you make sense of your campaign statistics. It’s all about accurately measuring your data to know what’s working and identifying areas where you can increase your efforts or improve on your content where it’s not working so well. 

 

Identifying The Fundamentals Of Metrics  

Reach

Reach is the total number of unique people who can see your ad or content. If 1000 people in total have seen your ad, that means your ad’s reach is 1000.

The advantage of having accounts on various social media platforms and a central system that allows you to broadcast your blog or advertisement to those individual platforms have the potential to increase your reach into the millions. Markethive, with its proprietary blogcasting system, is the springboard and gives you the ability to create massive reach, which is exponential and very powerful. 

For example, If I subscribe to your blog and have 20,000 followers across all my social media accounts, and you have 15,000 subscribers, each with a similar following, your blogs have now been potentially seen by around 300,000,000 people, by-enlarge are not directly subscribed to you. 

Every time you publish a blog with Markethive as the core platform, that article is posted to hundreds, even thousands of social network news feeds and WordPress sites. 

 

Impressions 

Impressions are the number of times your content or advertisement is delivered and displayed on any given website or page. Let’s say that your ad from the previous example above popped up on those people’s screens a total of 3000 times. That means the number of impressions used for that ad is 3000.

Impressions are where your online advertising begins, and most likely where you will see the highest numbers as an impression is generated every time a web page is loaded and potentially viewed. It’s important to note that just because the banner was displayed doesn’t guarantee the visitor saw it. 

It’s a bit like driving past a billboard on the side of the road, the ad is displayed continuously, but it doesn’t mean that you took any notice of it. So, in a sense, every car that passes the billboard would represent an impression, as the potential for the ad to be viewed is there but no guarantee that every driver saw it.

Impressions are typically used for displaying banner advertisements across the internet on any site that allows this type of advertising. This comes at a cost that varies across the board and is usually set by the management of the company website. See some comparisons here. 

This protocol has now been preceded by a new unprecedented system, as Markethive, the social market network and ecosystem for entrepreneurs, has developed a Banner Impressions Exchange (BIX). It is advertising as a non-fungible token built into an exchange.

Are Impressions Important For Your Business?

Yes, they are the very foundation of the advertising process. They are essential for branding campaigns. Awareness is created from impressions, and continuing to drive impressions will be crucial to brand success. Increased impressions will lead to increased engagement and community size.

• Impressions are the “eyes” that see your ad. It could be as little as a three-second scroll in some cases.
• Reach/Engagements involve some kind of interaction, usually. But the impression comes first.
• Lastly, clicks or actions are the most important. That is where your leads, and ultimately, your sales come to fruition.

You can’t have reach or clicks without impressions first. Without impressions, which is the availability to view, there would be no clicks.

 

Clicks 

Clicks are usually seen as the most important step in the online advertising process, as a click means you have an interested visitor and a potential sale. 

A click is recorded when a visitor clicks on your banner, takes them to your website, where a lead is captured, or the possibility of a sale. But when it comes to clicks, relative to impressions, you need the impressions to generate a click, and since not every person who views your banner (which is counted as an impression) will click on it, you will always have more impressions than clicks. 

This ratio of clicks to impressions is measured by what’s known as the click-through rate (CTR). To calculate CTR, simply divide the number of clicks by the number of impressions.

For example, if your banner received 1,000 impressions and, out of that, you got 25 clicks, you would have a 2.5% CTR. The rule of thumb is that a banner with a high CTR effectively grabs a visitor’s attention, while a low CTR banner means that you may need to tweak something about the banner image or ad text to harvest more clicks, hopefully.

Your ideal ad click-through rate takes time to determine. It’s not the same for everyone, and the average CTR also depends on such factors as your industry and keywords and how competitive they are.

Based on the internal data of Wordstream, they’ve determined that the average CTR across all industries in Google Ads is 1.91% on the search network and 0.35% on the display network. The graphic below shows the variation in the average click-through rate for twenty different industries.

Image Credit - Wordstream

 

Conversions 

Conversions are the ultimate goal and end-result that every marketer sets out to accomplish.

Generating conversions means that the purpose of the advertisement/banner has been achieved. The term conversion covers a broad spectrum of actions, including capturing a lead, making a sale, or just having a visitor download an ebook or whitepaper. It’s good to measure the effectiveness of any campaign by determining how many conversions are achieved to how many dollars are spent. This calculates your return on investment (ROI). 

 

All Metrics Are Equally Important

When you’re analyzing your campaign data, it’s not a good idea to draw conclusions based upon only one metric. You always need to consider how each metric relates to the other. 

For example, (1) you may have an ad with an exceptionally high CTR but a disheartening conversion rate. Conversely, (2) you may have an ad that gets very few clicks, but it almost always converts when it does. 

The first scenario is not ideal because you’ll spend a lot of money on clicks but have little to show for it, especially if you’re using pay-per-click (PPC). The second scenario is not okay either because you won’t be able to scale that campaign to any significant size properly.

One of the most reliable ways to determine where best to channel your resources is by using a metric known as “Profit per Impression” (PPI). This metric takes both the beginning being impressions and ending being conversions or (profit) points of the advertising process. It uses them to determine the ultimate viability of an ad campaign. 

This is particularly helpful when participating in Markethive’s Banner Impressions Exchange, where you can purchase impressions for your Banner Ad Campaigns and view the detailed statistics of any given active banner in your BIX section of Markethive. 

 

 

How Do You Calculate PPI? (Profit Per Impressions)

The way to calculate PPI is to simply find out how much profit (not revenue) you generated from a campaign and then divide that by the number of ad impressions it took to produce that profit. 

For example, if it took a total of 90,000 impressions to produce $20,000 in profits, then your PPI would be $0.22 ($20,000 divided by 90,000 impressions). This enables you to see how well your banners perform after all costs have been covered. Campaigns with high PPIs will ultimately be the best candidates for scaling and growth.

By keeping the Profit per Impression (PPI) metric in mind gives you more confidence, and you will be more clear as to which ads will ultimately generate the most profit for your advertising campaign.

Another Factor To Consider - The Rule Of 7 - What Is It?

The Rule of 7 is a marketing principle that states that your prospects need to come across your offer at least seven times before they notice it and start to take action. Your prospects can be exposed to your offer significantly more than seven times, but they need to see it at least seven times.

This helps them remember you amongst an overwhelming amount of marketing messages, other information or clutter, and positions you to get better results from your marketing efforts. It’s not just about banners - social media and digital marketing require a thoughtful content strategy approach. This is accomplished by sharing content, interacting with people, and targeting ads to people interested in what you sell.

Socially-savvy companies like Markethive have the best of both worlds when it comes to marketing your business. It has the social newsfeed and specific storefront groups, inbound marketing tools, and now the banner impressions exchange. This gives you the ability to engage with prospects at every level of the buying process, as it’s been proven that the more positive contact you have, the easier it is to develop and sustain relationships and ultimately attain more sales. 

 

What Can Marketers Do To Capitalize On The Rule Of 7?

So if the Rule of 7 involves encouraging repeat interactions with prospects, how do you do this?

• Have a very clear idea of who your customers are. Develop a plan to make yourself visible amongst your target customers and know where they hang out or which websites they visit. 
• Make quality and consistent use of Banner Advertising on high-profile sites with lots of relevant traffic.
• Have a content marketing plan that gets your prospects to notice you, so you need to provide content they perceive to add value. Your blogs or articles should start conversations and prompt people to want to find out more about you and your product, so make sure you have the necessary calls to action to lead them to where you want them to go. 
• Amplify your content into social media. Ideally, your content will get you some SEO visibility, but broadcasting your content to the various social media channels will increase your reach. 
• Have an email nurture campaign. Don’t think of email as an opportunity to make sales. Think of it as a way to help and nurture your prospects and customers. Drive email opt-ins by offering helpful free content so that they can subscribe.

With these initiatives in place, you will start to develop a level of visibility that will mean your prospects are being more frequently exposed to your brand. This can all be achieved and facilitated within the Markethive Platform utilizing its comprehensive range of marketing tools. 

The result will be an increase in brand searches, increasing the number of inquiries, leading to a rise in sales. Don’t expect overnight results; this requires a consistent, long-term effort.

You need to have a bigger picture view to see how all these metrics and systems with all their different moving parts work together, especially when it comes to valuing impressions, clicks, and conversions. The best way to understand how these factors work together and track your results is to test and tweak your marketing campaigns continually. 

 

 

Written by Deb Williams
Chief Editor and writer for Markethive.com, the social, market, broadcasting network. An avid supporter of blockchain technology and cryptocurrency. I thrive on progress and champion freedom of speech and sovereignty.  I embrace "Change" with a passion, and my purpose in life is to enlighten people en masse, accept and move forward with enthusiasm.

Markethive's Apprentice Platform Explained (blog)

Markethive's Apprentice Platform Explained (blog): Markethive’s Apprentice Platform Explained (blog) ...

Markethive’s Apprentice Platform Explained (blog)

Entrepreneur One To Be Phased Out - Apprentice Upgrade To be Phased In 

As Markethive moves forward, our Entrepreneur One Loyalty upgrade (the ultimate loyalty program for Markethive’s early adopters) will be phased out and not available to new members. However, this makes way for our next phase, the Apprentice Loyalty Upgrade, which is in preparation for launch and will be released about the same time the Markethive wallet is integrated. 

Currently, the Entrepreneur One Upgrade (E1) is still available to new members. There will be a countdown ticker badge of 30 days placed on the Markethive home page for you to view, giving you ample notification of its cessation to new members. 

There is also a moratorium for canceled or lapsed E1 accounts for 60 days in total, starting at the same time as the countdown badge. This allows former Entrepreneur One members to resume their membership as though they never left. The months that lapsed will be compressed to show a continuation of a paid year to date. 

Once this two-month period has ended, the wallet and Apprentice Loyalty Program will be released. We have a lot going on now; it’s thrilling that Markethive is coming out of BETA with this launch. The innovative visions and tireless work of the Founders’ are coming to fruition for all of us. 

Apprentice Upgrade Illustrated 

The Apprentice Program will include everything stated below. This is the first and basic draft, so there might be a few additions and maybe subject to change, but this is primarily the features.  

1. The first is the large wallet transfer/transactions. There's no limit for the Entrepreneur One member; however, the Apprentice Program will be the second-largest wallet transfer. So the number of MHV coins that you will be able to transfer out with this wallet will be substantial. 

2.  You will enjoy a matching bonus when you refer new members, just like the Entrepreneur One has a matching bonus. This consists of a 100% matching bonus on the first three that sign up with you, which is 50% more than a free member, and then 25% on each subsequent sign-up for the duration of your active membership.

For example, if the new sign-ups airdrop is 100 MHV, you're going to get 25 coins for as long as you are active in the Apprentice upgrade. 

3. You get the full inbound marketing system. All the features and functions will be available, except for the email broadcasting system, which is limited. You will be able to email your associates (sign-ups) and your group members, but not your friends you have accumulated on Markethive; that is only available to Entrepreneur One associates. 

4. You will have access to full data on the first 16 visitors. This includes their other social media accounts, phone number, and email address. This means you'll get access to the first 16 people who visit your Markethive profile and be able to see who they are. You can contact and reach out to them because they are obviously interested in you, as they came to see you.

5. Access to a friend’s “Friends List”  giving you access to your friends’ list, similar to LinkedIn and Facebook.

6.  Automatic video and blog posts to the news feed. Coming very soon is the four different types of newsfeed that are four different types of feeds. As an Apprentice Upgrade, you will have access to the first three.

1. First is the general newsfeed, similar to a Twitter/Facebook type of feed.
2. The second is the blogging system, so your blogs will be displayed in that feed. 
3. The third is the video feed where you can upload organic videos to the Markethive Video Channel and your videos from 3rd party video platforms. All your videos you upload will be shown in your video newsfeed. 
4. The fourth newsfeed is the curation newsfeed which is limited to Entrepreneur One members only. 

7. Increased Limits On your Video Uploads. Notably, with YouTube, you need to be qualified to be able to upload unlimited videos. If you do not pass their qualifications, they limit the size of your video uploads. As an Apprentice Upgrade, there is no limit to the size, length, or number of videos you can upload.

8. 10% Discounts on Services, such as Press Releases, Banner Impressions rebate, Boost, Video Ads, etc. E1’s get more discount; however, free members will need to negotiate with either Entrepreneur One or Apprentice level and pay them to acquire any of these services or purchase them at full price from Markethive, the company.     

9. Upgrade activities interest (staking) on the Vault.  As an Apprentice Upgrade, you will receive an increase in micropayments for all your activities in Markethive. Plus, any MHV you hold in the Vault will be paid interest. 

10. KYC (Know Your Customer). All Apprentice level and Entrepreneur One associates will have a blue verification checkmark on their profile. So your KYC verification steps will be a lot easier to do as an upgrade than they would be if you were a free member.

11. Newsfeed Rich Text Formatting. You will be able to highlight with bold, italics, or underline in your newsfeeds as an Apprentice Upgrade. This makes your posts stand out a lot more. 

12. Fully Functioning Storefronts. It is also known as Groups but with the added advantage of monetizing it with capture pages, custom Splash pages, videos, co-ops, shopping carts, etc. You create a complete campaign with a capture page that lands on the splash page built into the group. Essentially, this is a Storefront where people can visit and buy your products listed via your shopping cart.

So you can essentially turn your group into a landing page that also gives you the ability to communicate with those in that storefront group, much like a forum. It really is an innovation that takes the whole thing and turns it into a turnkey Marketing System.

A free membership gets the group, but you’re getting a storefront when you upgrade to Apprentice or Entrepreneur One.

13. Group/Storefront posts in profile feed option.  So whenever you post in your group newsfeed, you have the opportunity to post into your profile feed automatically.

14. Full Video Channel System is a full YouTube-like video system where followers, friends, and associates can subscribe to your channel. They can comment on your videos, and all the features on YouTube will also be in the myhive.tube video system. 

The other great thing about the full video channel system is that as an Upgrade, the system will ask if you have accounts on other video platforms whenever you upload your video. (e.g., YouTube, Vimeo, Daily Motion, Facebook, Twitter) You'll be able to link to all of these 3rd party video platforms. 

So you upload your videos into Markethive, which will also upload your thumbnail to those videos and remotely publish out to all the other video accounts that you may have so you get extensive video distribution.

It’s worth noting that when videos are posted on another platform, only a snippet of the video can be viewed. To watch the whole video, users will be directed back to the Markethive platform. This is a huge advantage considering YouTube’s predilection to censorship.

15. Full Conference Room Channel. All members will have access to Markethive’s free conference rooms; however, they will be limited according to your membership level. Free members will have two seats (you and a guest). Apprentice will have ten seats, and the Entrepreneur One Upgrade will have unlimited seats.  

Our conference room system is integrated into inbound marketing, calendars, and timers, making it a very sophisticated system.

16. Bookmark Newsfeed Management. If there are posts in the news feed that you like or want to remember, you will be able to bookmark them if you’re going to reference them again, creating easy access to them in the future. 

17. Self Deleting Posts (Set timer option) Like Snapchat, you will be able to send a message to someone or make a post, then set a timer for it to self-delete. This is an excellent option if you have a message or post that is time-sensitive. 

18. Send Messages to anyone in Markethive. (Limited to (?) per month) The number of people you can message is still yet to be determined. However, as an upgrade, you will be able to message any member, no matter their level. If you see their profile page or a post they did, you can send a message to them. 

Once this feature is in place, nobody else can send messages to anybody unless their first level friends.

19. Markethive sub-ROKU Channel. Markethive already has a Roku Channel, and we can build Roku sub-channels into it. What this means is, as an Apprentice or E1, you will be able to have your own sub-channel, which will be named, yourusername.markethive.  

So when you upload a video into Markethive, you can designate to upload it as well to your Roku sub-channel. 

To gain more insight, watch this recording of the Sunday meeting - Feb. 28, 2021, presented by Founders,  CEO, Thomas Prendergast and CTO, Douglas Yates

 

Apprentice Platform Plan Proposal

So there you have it. This is an impressive menu of options for the Apprentice Loyalty Upgrade, which can be paid in part using MHV along with BTC or credit/debit card. The subscription prices are not set in stone as yet; however, if you attended Sunday’s meeting or viewed the recording, you would have seen the mock-up of the various plan options proposal pictured below. The MHV is based on the value of one penny in the image. However, the coin price will fluctuate when listed on the exchanges, so the amount of MHV will be adjusted accordingly. 

 

Markethive built this system to lift you up financially while giving you a mighty broadcasting Social Network. Our foundation is built upon the precept that freedom and liberty are very much at the forefront and our main product. Upgrading to the Apprentice Platform gives you additional leverage and greater power to broadcast your message while supporting our mission to lift up the entrepreneurial spirit found in all of us. 

 

There's Still Time To Secure Your Entrepreneur One Upgrade

And of course, there is still time to upgrade to the ultimate loyalty program, The Entrepreneur One, for US$100 per month, which includes a 1/10th ILP (Incentivized Loan Program) after 12 months of consecutive payments. Essentially you have shares in the company! This is a golden opportunity; think of the Web 2.0 social media platforms like Facebook et al., when they were looking for funding; they engaged the affluent Venture Capitalists. The difference here is you are the VCs, without needing the capital, and you will reap the rewards as Markethive becomes the next tech giant of Web 3.0. 

Finally...

Stay up to date with the progress by attending the Markethive meetings, on Sundays at 10 am Mountain Time. The link to the meeting room can be found on the Markethive Calendar. Come with us as we make our way through the final stages of BETA, where the full potential of Markethive will be realized creating more leverage, opportunities, and the ability for you to achieve your personal and professional goals. 

 

 

 

Written by Deb Williams
Chief Editor and writer for Markethive.com, the social, market, broadcasting network. An avid supporter of blockchain technology and cryptocurrency. I thrive on progress and champion freedom of speech and sovereignty.  I embrace "Change" with a passion, and my purpose in life is to enlighten people en masse, accept and move forward with enthusiasm.

 

 

Markethive Coin ( MHV ) Migrating to Cardano Blockchain

 

Cardano Blockchain To Take The Lead In Scalability With Hydra -

The Migration Begins...

Cardano Blockchain - The Fastest System On Earth

As a follow-up to my last two articles explaining, Cardano is a 3rd generation blockchain that started as a project in 2015 and launched in 2017, focusing on three elements. Cardano has made great strides since then. The team’s aspirations are now coming to fruition in 2021, solving some critical problems, one being scalability, which has become very apparent with the 1st generation, Bitcoin, and 2nd generation blockchain, Ethereum, in the last five years. 

Cardano’s key features are the academic and scientific philosophy behind it. The team consisting of engineers, mathematicians, scientists, and business professionals has published over 90 whitepapers for the technology. With a well-defined roadmap, the Cardano network is known for its ingrained security, scalability, and interoperability. 

Previous generation blockchains suffer from bottlenecks that essentially limit the amount of throughput they can handle. Proof of this can be seen in the fluctuating BTC and ETH transaction times over the years, making them an inefficient choice for global-scale mass use. 

When the Cardano blockchain was first tested in 2017, it could process around 257 transactions per second (TPS). To put that into perspective, today, Bitcoin can only process 7 TPS and Ethereum a little higher at 25 TPS. 

Cardano is built and a comparison to VISA as a competitor and a theoretical goalpost. Currently, VISA’s transactions per second are approximately 2,000 TPS which is unreachable in the blockchain world. Particularly with Proof of Work protocols that can only reach into the tens. Proof of Stake (POS) networks can deliver a few hundred. However, with the introduction of Cardano’s Ouroboros Hydra solution, it is now looking at more than 1 million TPS.

With this new groundbreaking technology in PoS scalability, the Hydra, the Cardano blockchain can become a real alternative to current fiat currency and payment systems for their Native ADA token and other altcoins and ecosystems with all the necessary building blocks to be a potent fintech disruptor. 

 

The body of Hydra is like the mainchain. Hydra can have more heads. Every head can process 1,000 TPS.

 

What is Cardano's Hydra? 

Founder of Cardano, Charles Hoskinson, explained in the video below recorded in March 2020 that Hydra is a Layer 2 scaling solution implemented over Cardano's Proof of Stake protocol while fitting "very well with the Pool staking model.” It implements state channels that enable the fast processing of payments and smart contracts beyond the blockchain (off-chain). 

Simulations have shown that each "Hydra head" can currently process about 1,000 transactions per second (TPS). With 1,000 stacking pools, each of which processes 1,000 TPS, Cardano could achieve a throughput of up to one million transactions per second.

Hoskinson further emphasized that each "Hydra head" will reach the so-called "Fast Finality,” which means that the irreversibility of a transaction can be done almost in real-time, as commonly used in a Byzantine Fault Tolerance (BFT) protocol. Thanks to the "Fast Finality" and the high transaction speed, even micro-transactions will become possible. 

Hoskinson also said.

“A serious disadvantage present in current layer-two state channel protocols is that existing layer-one smart contract infrastructure and contract code cannot be reused off-chain without change. In this paper, we introduce Hydra, an isomorphic multi-party state channel. Hydra simplifies off-chain protocol and contract development by directly adopting the layer-one smart contract system. We present the onchain contracts to open and close Hydra heads (our isomorphic state channels) and a novel off-chain protocol for the fast evolution of heads.”

 

Put more simply, data from the blockchain is loaded into Hydra, and participants can make transactions or run smart contracts in the Hydra. Once their job is finished, they close the Hydra, and the final state is updated in the blockchain. As multiple hydra ‘heads’ can be created, it allows fast and cheap parallel processing.

Hydra will enable high scalability, which is imperative for greater adoption of cryptocurrencies, not just for faster transactions; Hydra can also execute smart contracts so developers can easily build Dapps and utilize micropayments, voting, among other things. Hydra will ensure low latency and minimal storage of data per node.

For a more in-depth look at Cardano’s solution to scalability and Hydra, read this blog by cardanians.io

 

Reduced Power And Fees - Increased Security 

Cardano’s PoS consensus mechanism, called Ouroboros, also reduces energy cost compared to PoW. It also provides provable security guarantees with transactions and seamless execution of smart contracts with Hydra’s Extended-UTxO model.

With the current setup of Ethereum (PoW) and Cardano (PoS), Cardano appears much more robust than Ethereum in terms of TPS. Ethereum also lags due to its problems with expensive gas fees when it comes to transaction costs.

The recent bull runs resulted in ETH and other Ethereum blockchain tokens experiencing extremely high gas (transaction) fees due to network congestion, therefore discouraging retail investors from being involved. 

 

Comparison Chart between Cardano Native Tokens and Ethereum ERC-20

 

Cardano Native Token Design Distinction - A Unique Selling Proposition (USP)

The Goguen Era, just one of the many phases of the Cardano roadmap, is set to launch in March 2021 allows more comprehensive interoperability with existing smart contracts, regardless of the different coding language used to develop them initially. Goguen enables smart contracts to be written in different languages, whereas Ethereum smart contracts use Solidity only. 

Cardano also applied the Goguen native token upgrade, known as the Mary upgrade, to Cardano’s testnet, which transforms the blockchain into a multi-asset network similar to Ethereum. Still, design differences set it apart, which opens up various and differing business use-cases with high-scale enterprises.

With the well-thought-out and tested infrastructure, Cardano is poised to capture a diverse and completely different market share than Ethereum; areas such as national-level identity solutions, back-end financial infrastructure, and robust enterprise use cases like decentralized social media.

A significant difference is that there are no execution fees charged to the user in conjunction with a token smart contract on Ethereum. (Gas fees) 

Smart contracts on Ethereum are also vulnerable to human error, fraud, and other risks associated with Ethereum design protocols that require conversion between the two layers. The two layers’ scripting language is significantly different, and Solidity cannot work with the second layer, so conversion is necessary. 

Native Tokens on Cardano are forged on-chain with both layers using the same scripting system, so no conversion is needed. The opportunity to siphon funds through a smart contract is eliminated.

 

Hinrich Pfeifer of the Cardano Foundation said,

“User-defined native tokens on Cardano use the same underlying token logic as the Cardano blockchain itself. Cardano’s scripting language does not have fixed-size integers, and the ledger itself tracks token movements and handles the token logic.”

In other words, according to Charles Hoskinson, organizations with cryptocurrency assets are treated as first-class citizens; they are treated the same way as Cardano treats ADA, their own crypto, whereas, in Ethereum, you’re a second-class citizen. ETHER is treated differently from smart contacts. 

This first-class citizen approach means your assets will have the same governance access, layer two portfolio access, and the same infrastructure that ADA itself has. Also, more effortless listing experiences, more comfortable wallet experience, better user experience, faster transactions, lower transaction costs, and the list goes on.   
 

Vukašin Vukoje, demonstrating the ERC-20 converter, showing options for converting BAT, DAI, AGI, USDC, and USDT.Source: Cardano Development October 2020 Update 

 

Migration To The Cardano Blockchain Begins 

Cardano’s ERC-20 converter’s introduction facilitates the transfer of tokens from the Ethereum network to the Cardano network, which encourages ERC-20 projects to port over to Cardano. In October of 2020, on the Cardano Development Show, the broadcast included the ERC-20 converter demonstrating the conversion of stablecoins DAI, USDC, and USDT, along with AGI and BAT. 

Artificial Intelligence firm SingularityNET with its AGI token, announced it is moving to Cardano. Previously, SingularityNET operated exclusively on the Ethereum blockchain. Reportedly, many have taken the news as a significant blow for Ethereum stakeholders.

The next tech social media, marketing, and broadcasting giant, Markethive, has also moved to the Cardano blockchain from Ethereum. The Markethive Coin, MHV, about to be launched on principled exchanges, is now a Native token on Cardano’s isomorphic multiparty state system instead of an ERC-20. 

Given the enormous transaction activity and data involved, along with the ILP assets in Markethive, it makes perfect sense to migrate to a completely decentralized system that will handle throughput, stability, and interoperability with ease.    

CEO and Founder of Markethive, Thomas Prendergast, says,

“The MHV coin was originally produced (8,888,888,888) according to the ERC20 guidelines from Ethereum about 1.5 years ago. The coin in Markethive has been kept in Markethive operating separate from the ERC20 on our own paper blockchain until we released the wallet. Recent trends have revealed the ERC20’s security risks, privacy risks, and even worse, the cost to transact (gas) has skyrocketed.

As we determined that the ERC20 was not for us and before we opened up to the exchanges as an ERC20, we decided to find other options. This was several months ago, and at the same time, our friend Charles Hoskinson the founder of Cardano released his final version from BETA, and perfect timing for us. 

After contacting him, CTO of Markethive, Douglas Yates, determined that to convert to Cardano was the perfect decision, and so this now opens the door for us to launch onto the exchanges as a Cardano-based Markethive coin.”

This is excellent news for Markethive; It means much smaller transaction fees, greater security, faster application speeds. It means our entire system will be stronger, quicker, and secure.

 

Cardano’s Terminology Of Native Tokens 

The terms 'coin' and 'token' are often used in the crypto world. Sometimes, these terms are interchangeable, sometimes not. A 'token' can also be a type of umbrella term that encompasses all digital assets.

It is worth noting that Cardano's approach to tokenization is as unique as the ledger itself, so here's some terminology to help understand Cardano’s native tokens framework.

In Goguen/Cardano:

• A token is defined as the representation of an asset stored on the Cardano blockchain.
• An asset is anything that can be quantified.
• A token bundle is a representation of multiple tokens.
• Native refers to token logic running on the Cardano ledger rather than using smart contracts.

Native tokens on Cardano

Ethereum requires custom code for user-defined tokens to be supported on the chain. It adds a layer of complexity, cost (gas is needed to pay for the execution of the code), and inefficiency since token code for both standards is replicated and adapted, rather than part of the system itself. 

This is an inherent weakness of the Ethereum chain because it leaves room for human error. Custom code, if done carelessly, can introduce bugs that could potentially lead to significant financial loss. In one particularly infamous incident, software bugs led to the loss of ether worth $300m. The Cardano approach aims to prevent such catastrophic errors.

Cardano supports user-defined tokens natively, without the need for custom code, through the native tokens framework. Native tokens is an accounting system defined as part of the cryptocurrency ledger and enables tokens to be transacted with (tracked, sent, and received.) This eliminates the need to use custom code or costly smart contracts. In short, native tokens remove the unnecessary layer of expensive complexity and inherent inefficiency found in the Ethereum chain.

The Heart Behind The Technology

The Creator and CEO of Cardano, Charles Hoskinson, is passionate about his work and mission to change the world’s financial system. To build a true financial operating system for the planet; for the unbanked, giving open, fair, and free economic identity to those lacking, along with dozens of companies and millions of community members.

In a recent video update, Charles stated, 

“We are on a path to Destiny. Everything we do is lining up to take us to that particular reality. Those are the billions of users that not only will enrich the network and make it something worthwhile but will change the entire fabric of how the world works and make it fairer, more just, and more transparent. Every bit of commercial progress we make as a company, as a protocol, as a community towards that end, makes me incredibly happy.”

 

 

Slow And Steady Wins The Race

It has been a gradual process for Cardano because they do real science, write real protocols, perpetually testing every aspect of this unique project. This protocol is necessary to avoid the traps many Silicon Valley startups, and the like have experienced. Move fast, break things and burden the world with their costly mistakes. Many have fundamental and architectural issues that have caused their demise or non-event. 

Because of all the hard work, philosophical and scientific approach, Cardano’s progress has expedited and now a force and on track, having built the best Proof of Stake protocol with a brilliant path to evolve that protocol to keep up with emerging technology. 

Charles Hoskinson and the Cardano team are one of integrity, empathy, and compassion with a philosophy that is congruent with Markethive. We, at Markethive, welcome Cardano and are excited to be collaborating and joining forces to help make the world a better place. One of freedom and sovereignty in the social media and financial spheres creating an all-encompassing ecosystem for humanity. 

 

 

Written by Deb Williams
Chief Editor and writer for Markethive.com, the social, market, broadcasting network. An avid supporter of blockchain technology and cryptocurrency. I thrive on progress and champion freedom of speech and sovereignty.  I embrace "Change" with a passion, and my purpose in life is to enlighten people en masse, accept and move forward with enthusiasm.

 

 

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