Hive
Hive[edit]
Hive is a blockchain-based blogging and social media ecosystem built to reward its users engagements with the HIVE cryptocurrencies. The blockchain is managed without central entity, thus it requires reaching a wide consensus in decision-making. The access and interactions with blockchain are made via various proprietary font-ends, which unlike the blockchain itself may be subjected to local regulations that may require content moderation.
History[edit]
On march 20, 2020 Hive hard-forked (separeted as a almost exact copy) from STEEM blockain due to major community dispute about STEEM's de facto centralisation of the chain decision process.[1][2].
Operating principle[edit]
The content published on the blockchain may receive either upvotes or downvotes. Upvotes result in increasing post payout, while downvotes represent discontent of the community about the content itself or community-perceived excessive reward resulting in decreasing the payout. The rewards are divided between content author and users who upvoted the content, which motivates users to engage.
The Hive network comes with two classes of cryptocurrency assets named HIVE and Hive Backed Dollars (HBD). Moreover, HIVE exists both under a liquid form (simply called HIVE) and a staked form (called Hive Power). HIVE is the liquid currency of the Hive ecosystem. It may be traded, staked, bought, and sold. Hive Backed Dollars are intended to be pegged to the United States Dollar (USD) at a one to one rate. Hive Power (HP), the staked form of HIVE, is vested during a process referred to as a ”power up”. Upon being powered up, Hive Power can then be entirely or partially un-staked at will, in a process referred to as a ”power down”. Staked HIVE then returns to its liquid form (i.e. HIVE) in equal amounts over 13 weeks period, with a segment delivered every 7 days[3]
Blockchain schematics[edit]
Unlike mining process typical to Bitcoin or Etherum blockchains, Hive's chain blocks are produced at 3 second intervals and are signed by “Witnesses” selected based on the total weight of the Hive Power supporting them through individual approvals. There are 20 consensus witnesses that are granted block signing operations on a rotating schedule. Every account may select up to 30 witnesses for approval, during which process it adds to the support each witness receives. The witnesses are ranked in priority based on the total amount of staked support they presently receive. While the 20 consensus witnesses have an equal opportunity to sign blocks, witnesses ranked 21 and further are treated as backup witnesses. The number of signing opportunities they receive is directly proportional to the staked support behind them.
Dapp ecosystem[edit]
Due to its scalability a number of decentralised applications (dApps) run on Hive. The most popular one is Splinterlands [4][5]. The number of dApps and fluctuates a its market is both volatile and constantly developing. The major operating on Hive dApps are:
- Games:
- Splinterlands (formerly SteemMonsters) - trading card game,
- CryptoBrewMaster - beer brewing business card game,
- dCity - NFT asset city building strategy game,
- Rabona - football manager game,
- Exode - collectible Sci-Fi strategy game,
- Rising Star - music industry strategy game,
- Holy Bread - fantasy RPG game,
- Sport and Fitness:
- Actifit.io - fitness tracking app rewarding staying active,
- Video and streaming services:
- 3speak.co ,
- DTube,
- Vimm.tv,
- General, non-specified topic frontends:
- peakd.com,
- palnet.io,
- archon,
- neoxian.city,
- Content themed front-ends:
- LeoFinance.io - finance, cryptocurrency and investment focused community,
- SportsTalkSocial - sport themed community,
References[edit]
External Links[edit]
- https://hive.io Blockchain main site,
- https://hiveonboard.com account creation tool and database,
- https://hive.blog/ the most popular hive's fron-end
This article "Hive" is from Wikipedia. The list of its authors can be seen in its historical and/or the page Edithistory:Hive. Articles copied from Draft Namespace on Wikipedia could be seen on the Draft Namespace of Wikipedia and not main one.
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