Launched on March 20th, 2020, Hive is a decentralized information sharing ecosystem with an accompanying blockchain-based financial ledger built on the Delegated Proof of Stake (DPoS) protocol. Hive supports many different types of information sharing applications. Myriad dapps, APIs and front-ends contribute to a general and straightforward accessibility of data, transactions and records, so that this existing diversity and utility ensure that the ecosystem is welcoming to content creators, consumers, investors and builders.
Hive is developed to store vast amounts of content and to make it available for time-based monetization. Examples of use include social media with monetized rewards for content producers, interactive games, identity management, polling systems, and micro-loans. The performance of the blockchain is designed to scale with widespread adoption of the currency and platforms in mind. By combining the lightning fast processing times and fee-less transactions, Hive is positioned to become one of the leading blockchain technologies used by people around the world. Visit Hive.io to join.
Hive’s support for high transaction volumes, combined with its fast 3-second block times and fee-less transactions, make it an ideal platform for building highly interactive applications that would bog down on most blockchain networks. It also has a unique focus on a 2nd layer architecture for distributing application loading across distinct sidechains to enable scaling beyond the limits of traditional smart-contract networks. To mitigate scaling limitations, an application’s proponents can allocate additional CPU resources as needed at the second layer to power their preferred applications, without worrying about congestion from other apps in the network, yet still benefit from a common first-layer blockchain backbone to ensure distributed data integrity. This scaling ability also enables a unique competitive landscape for applications developers.
Hive was founded by a diverse group of community members, developers and investors who believed in the common goal of decentralization. There is no set team and no company behind it. Hive is not based in any specific jurisdiction and has nodes, stakeholders and contributors in many countries all over the globe. Hive relies on decentralized governance, both for software development and for decisions about protocol upgrades, employing the DPOS consensus protocol. Stake-weighted voting is used to elect block producers known as witnesses that must agree to enable changes to the 1st layer protocol shared by all applications, providing a stable base layer, while leaving 2nd layer applications free to innovate rapidly. All protocol changes are proposed, developed, prepared for and implemented through a transparent and collaborative team-working environment. They are entirely open source from initiation to their final release.
I love Hive. It’s that simple. I thought I was just going to blog and make some money here and there, but Hive is so much more than that. For those who like it simple, it can be basic blogging, but for the curious, creative types who like to know everything possible, Hive CONSTANTLY grows more and more amazing. This box is not big enough to explain what is great about Hive. There’s something for everyone here.
I’ve been looking for ways to monetize my blogging since 2005, so when I first heard about crypto blogging on Hive, I was intrigued. I’d never invested in anything before (fiat or crypto) and the idea of earning for content (either what I created, or what I supported with upvotes) was wicked appealing to me. As a “normie” blogger, I initially had a tough time figuring things out, but for every question/concern, I found someone in the community who was willing to help. Because of the support of some pretty amazing people, not only have I now become an investor (small change for most people, but big to me), I’ve also gained an incredible education in how DPOS, blockchain, and crypto works. The Hive blockchain has also given me hope that in these days of Big Tech silencing so many voices, I’ll always have a place to be heard.
I started out on Hive simply wanting to blog about my work while learning more about blockchains and cryptocurrencies. I ended up getting invested in the token, building my own decentralized app, and making it my most use digital app or product that I use.
The most important thing about Hive is its community. It’s real. Thanks to the community, Hive was created after a Sybil attack from the Chinese Tron founder, Justin Sun, on the Steem blockchain.
The development is going strong and Hive had a successful Hardfork since launch and currently is testing another Hardfork to be implemented within 2 months.
Hive has a native decentralized funding mechanism designed to pay for its own development in a decentralized manner.
Hive is a DPoS chain, every Hive node consumes the same amount of energy as your home PC. It’s probably the most energy-efficient blockchain out there.
Hive is also known as a social blockchain with its native structure for posting, commenting, voting, and many other social media features built into the blockchain.
Some of the key features of Hive:
3-second block times
Native stable token + Native DEX
30-day account protection
3-layer key management
Native social features
The features and performance offered by Hive Blockchain is truly ground breaking.
Hive has been on my home in the internet and its one of the most unique amazing places out there. It has a little bit for everyone and I encourage anyone to check it out. 3speak.tv or hive.blog are both great entry points to Hive!
Only issue is a confusing account creation and a steep learning experience, once that’s overcome the sky is the limit for users, investors and developers.