$0.0443

Hive (HIVE) is a blockchain that uses a delegated proof-of-stake (DPoS) consensus mechanism. It was created in March 2020 as a hard fork of the Steem blockchain, which was centralized at the time. The project aims to bridge Web 2.0 and Web 3.0, offering fast processing and feeless transactions. Use cases include social media with rewards for content creators, games, identity management, and micro-loans. The platform supports dApps like Splinterlands and PeakD. Hive is open source and focuses on scaling via layer-2 sidechains while maintaining a layer-1 backbone for data integrity. The ecosystem uses two tokens: HIVE for governance and HBD, a stablecoin pegged to the US dollar.

The project was announced by members of the Steem community. It originated from a conflict over control between Justin Sun, CEO of Tron, and Steemit Inc. The developers forked the original Steem blockchain to operate independently, with a stronger focus on decentralization.

Hive is designed for Web 3.0 and social media dApps, emphasizing speed, scalability, security, and storage. It has a system for bandwidth and resource storage, allowing large amounts of data to be stored securely and accessed through time-based monetization. Original content posted is permanently stored on the blockchain. Users can vote for content creators using HIVE and HBD tokens within a seven-day period. The Proof of Brain protocol maintains content quality by leveraging human judgment. Developers can easily create and deploy dApps, and they can choose to implement public or private networks using Hive's open source code.

HIVE is the native cryptocurrency of the Hive network. It is inflationary, with no fixed maximum supply. New tokens are issued on a schedule and distributed as follows: 65% to content producers and curators (split equally), 15% to HIVE Power stakers, 10% to Witnesses, and 10% to the Decentralized Hive Fund (DHF).

The network uses the Delegated Proof of Stake (DPoS) consensus mechanism. Witnesses, who are delegates, verify transactions and create blocks. Twenty selected Witnesses create blocks randomly, and users can revoke their delegation at any time. This reduces central control. The platform has a decentralized governance system where users with staked coins can vote. These locked coins are stored in special wallets to protect the protocol. The company behind Hive stores its digital assets in cold storage.

As of September 2022, HIVE can be purchased on several exchanges, including Binance, Bithumb, Gate.io, Huobi Global, Bittrex, ProBit Global, MEXC, Indodax, Tokocrypto, WazirX, Upbit, CoinEx, Nominex, BKEX, Pionex, CoinDCX, Bitcoiva, and Jubi.