Hive (HIVE) Review
Hive defi token recognizes that transaction fees are often one of the largest challenges to facilitating development and flexibility of use on a blockchain. Instead of requiring potentially costly and inconvenient transaction fees, Hive uses a novel stake-based Resource Credit mechanism to create a fee-less model. Hive also aims to overcome mainstream adoption shortcomings in blockchain technology and content publishing by improving on their accessibility. It leverages the coined Proof-of-Brain (PoB) concept by distributing a portion of the inflation to content creators and consumers. To earn without financial investment, individuals partake in a wide range of activities. Those include blogging, participating in discussions, curating others, building and engaging with dapps, playing games and more; their limits are only constrained by their own imagination to further the decentralization of the system. All content is always readily-available on the blockchain and retains its original integrity.
Since its inception, Hive has steadily grown as an ecosystem. 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 was created as an independent and decentralized fork of the Steem blockchain. As a community-driven fork,
its intention is to continue the strong community values that have been established, while also freeing the ecosystem from the burden of Steemit Inc. and its disproportionate influence. While that influence had threatened Steem’s decentralization since its inception in 2016, it was kept in check by the means of a social contract. Following the sale of Steemit Inc to Sun Yuchen of the Tron Foundation In February 2020, the exploitation of this influence and loss of confidence in the continued viability of Steem ultimately led to the creation of the Hive blockchain.
|Hive Price||$0.153985 USD|
|Market Cap||$48,817,004 USD|
|Circulating Supply||317,024,091 HIVE|
More about Hive (HIVE):
Instead of relying on transaction fees, Hive defi token token uses a fee-less system that leverages rechargeable Resource Credits (RC). In this framework, each account holds a given amount of credits related to its stake. Those credits are then consumed when transactions are executed on the blockchain and automatically recovered with time. The amount of Hive Power attached to a given account determines its level of stake and allows for the calculation of the associated bandwidth.
The latter indicates how much a given account could transact within a specific period of time and originates from the available Resource Credits of the account, displayed as mana.
Resource Credits self-replenish at a rate of 20% per 24 hours. Such a replenishment rate acts as a self-limiter and requires the account to stake an amount of HIVE directly proportional to the account’s purpose and intent of use. An account that projects a higher rate of use will need more Hive Power than an account that rarely transacts.
Resource Credits are used up by different forms of transactions at different rates. A transaction that involves the post of a paragraph of textual material will deplete more mana than a transaction consisting in an asset transfer.
The amount of mana required to transact is also impacted by the number of transactions during the time of use. Transactions made on-peak consume more resources than those made during low usage periods. No account is entirely prevented from issuing a transaction should it be created with no investment or provisioning through a delegation.
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Hive (HIVE) Scam or Not?
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