Hive

What is a Hive?

The Hive Token or HIVE is one of the main tokens powering the Hive network. Last thing Web3 information exchange platform where users are interested in contribution and participation. These stimuli are presented in HIVE form. Contributions can range from photos and videos to short and long blog posts.

Hive Tokens can be earned by interacting with content on the Hive network, such as liking, sharing, and commenting on it. Curation—voting up or down on posts—is another way to earn HIVE tokens.

Network participants can easily buy, sell and trade Hive tokens. It is available on decentralized and centralized exchanges. Moreover, HIVE can be at stake. Hive Power or HP is the Hive token stake that can show how much power and voting influence a single user has. This can increase content upvotes, curation rewards, and resource credits (RC). The latter replaces the transaction fee. By betting Hive coins, you will increase the number of votes.

Another native token is Hive Backed Dollar, or HBD, which is pegged 1:1 to the US dollar.. This token can be traded, exchanged and converted into the Hive token. The conversion takes about 3.5 days. Owners who deposit their HIVE into a Hive-powered savings account will receive interest payments every month. As of July 2022, the annual interest rate on all HBD savings is 20%.

Users who own STEEM tokens can exchange them for Hive tokens.

There is no official maximum number of HIVE tokens. This means that it will not become scarce due to its limited supply.

Hive tokens have an inflation reduction mechanism where the inflation rate is reduced every 250,000 blocks until a level of 0.95% is reached.

Since Hive is a cryptocurrency, its price tends to fluctuate. To make an informed purchasing decision, view Hive’s price history and Hive’s current price in the chart above.

What are the main features of Hive?

The Hive cryptocurrency project is a type of social media platform based on blockchain technologies. He was a hard fork from Steam. Hive has eliminated the need for transaction fees by implementing an exclusive self-replenishing resource credit model. This means that instead of transaction fees, Resource Credits are deducted.

The Hive ecosystem consists of various APIs, interfaces and dApps focused on data exchange. Eat over 126 projects created on Hive.

As discussed in the What is Hive section, HIVE is the official cryptocurrency of the platform.

New Hive tokens are continually produced whenever a new block is created. These new tokens are distributed as follows:

• 65% – reward pool;
• 15% – HP stakeholders;
• 10% – witnesses;
• 10% – Decentralized Hive Fund (DHF).

Hive is based on Delegated Proof of Stake (DPoS) consensus mechanism and graphene technology. DPoS is the basis of Hive governance as it allows shares to be weighted when determining witnesses, i.e. block producers. These witnesses accept or reject proposals to change the Level 1 protocol without interfering with the Level 2 protocol.

Be sure to do proper research before starting a project. You can start by checking the current Hive price and other details in the chart above.

Who developed the Hive?

The Hive crypto project was Hive Blockchain Technologies launched. The idea for the project was born in February 2020 after Steemit Inc was sold to Justin Sun. Hive was also heavily impacted by the 51% attack on Steemit. Around this time, Hive was a hard fork of the Steem blockchain. It was officially presented in March 2020.