Hive

Hive (HIVE) operates as a blockchain utilizing a delegated proof-of-stake (DPoS) consensus system. It debuted in March 2020 as a hard fork from the centralized Steem blockchain, serving as a bridge from Web 2.0 to Web 3.0. This blockchain boasts "extremely fast processing speeds and no transaction fees." Some of its applications include social media platforms rewarding content creators with monetized incentives, interactive blockchain games, identity verification, micro-loans, and more. The platform supports decentralized applications (dApps) such as Splinterlands, PeakD, and HiveBlog.

Hive functions as a social hub comprising apps and services where users can explore blockchain capabilities, engage with the platform, and share content securely, all while redistributing value fairly. As a result, users effectively own the network, and sponsors can directly engage with communities and artists, bypassing intermediaries.

Hive's open-source blockchain emphasizes scaling through layer-2 sidechains while maintaining a shared layer-1 blockchain foundation to ensure reliable data integrity. The Hive ecosystem is powered by two cryptocurrencies: the native governance token, HIVE, and the HBD stablecoin, which is pegged to the US dollar.

The project was initiated by members of the Steem community. Hive emerged from a conflict over management control between Justin Sun, who is the CEO of Tron, and Steemit Inc. To preserve independence and prioritize decentralization, developers created a hard fork of the original Steem blockchain.

Hive is a blockchain crafted for Web 3.0 applications and social media dApps, with a focus on quickness, scalability, security, and ample storage capacity.

Hive's infrastructure is designed to handle bandwidth and resource storage with future-proof solutions. It can securely store vast amounts of data, making it accessible for monetization over time.

Original content posted on Hive is permanently recorded on the blockchain. Users can vote for content creators on the platform using HIVE and HBD tokens within a seven-day window. The Proof of Brain protocol helps maintain high content quality, fostering the creative economy by tapping into human judgment and subjectivity.

The blockchain also claims to be developer-friendly, facilitating the creation, deployment, and management of dApps. Developers can opt to implement new public or private networks using Hive's open-source code.

HIVE is the native token of the Hive network. According to the DPoS protocol, users who stake more HIVE have the opportunity to earn more from a rewards pool.

HIVE is an inflationary cryptocurrency without a predetermined maximum supply. New HIVE tokens are released according to a schedule and are allocated as follows: 65% goes to content producers and curators (split equally), 15% to HP stakers, 10% to Witnesses, and 10% to the Decentralized Hive Fund (DHF).

The blockchain's security is rooted in the Delegated Proof of Stake (DPoS) consensus model. Delegates, known as Witnesses, are responsible for verifying transactions and generating new blocks on behalf of investors. Out of these, 20 chosen Witnesses produce blocks randomly, and users can cease delegating at their discretion. This system generally minimizes centralized control over the network.

The platform incorporates a decentralized governance system where users have a stake in the network, empowering them with voting rights. This stake is represented by locked coins stored in specialized wallets, safeguarding the protocol. The company behind HIVE keeps all digital currencies secure in cold storage.

As of September 2022, several cryptocurrency exchanges and trading platforms offer HIVE, including Binance, Bithumb, Gate.io, Huobi Global, Bittrex, ProBit Global, MEXC, Indodax, Tokocrypto, WazirX, Upbit, CoinEx, Nominex, BKEX, Pionex, CoinDCX, Bitcoiva, Jubi, and ProBit.

Want to monitor HIVE in real-time? Consider downloading the CMC mobile app.