Hive

What is the token?

• Hive (HIVE) was launched in March 2020

• Consensus mechanism: Delegated Proof-of-Stake (DPoS)

• Forked from: Steem blockchain

• Primary assets: HIVE and Hive Backed Dollars (HBD)

• Purpose: Fast, scalable, and robust for Web 3.0 applications

Tokenomics

• Native governance token: HIVE

• Stablecoin: Hive-Backed Dollars (HBD)

• Designed to support a decentralized ecosystem with dApps, communities, and users.

As of today #{today’s date}, the price of Hive is ₹30.26 INR or 0.3247 USD, with a 24-hour trading volume of 157286209.2 USD. The market capitalization for Hive is 167002166.3USD. The circulating supply is 500749242.95 Hive, with the total supply also being 500749242.95 Hive.

Token Pros and Cons

Pros

• Decentralization: Hive operates on a decentralized blockchain network, giving users control over their content and ensuring transparency in governance

• Content Monetization: Users can earn HIVE tokens for posting and curating content, providing a way to monetize social media activity

• Fast and Feeless Transactions: Hive boasts ultra-fast transaction confirmations of less than three seconds with zero fees, making it scalable and user-friendly

• Exchange Support: HIVE is backed by major exchanges like Binance, Huobi, and Bittrex, facilitating liquidity and trading

• No Gas Fees: Hive replaces gas fees with a stake-based resource credit system, reducing transaction costs for users

• Versatile Ecosystem: Hive supports a range of dApps, social media platforms, NFT projects, and games, offering a diverse ecosystem

Cons

• Complexity for New Users: The platform can be confusing for newcomers due to its difference from centralized social media

• Market Volatility: Like all cryptocurrencies, HIVE’s price can be highly volatile, which may deter risk-averse investors

• Limited Mainstream Awareness: Hive needs greater visibility as it is not as well-known as other cryptocurrencies

• Content Theft Penalties: Users must be honest and avoid plagiarism or theft, as the community enforces content integrity

• Conversion Delays: There can be a delay of 3.5 days when converting between HBD and HIVE internally on the blockchain

• Inflation Rate: HIVE has a decreasing inflation rate, which could impact the supply and value of the token over time

Why Should You Invest in the Coin

• The potential of decentralized social networks and Web 3.0 applications

• Fast, fee-less transactions and a growing ecosystem of apps

USP of the coin

• High-speed transaction processing, fee-less transactions, and decentralized governance model

The problem the coin is solving

Hive aims to solve the problems of scalability and centralization in social media and content creation platforms. It provides a decentralized alternative where users can share content and engage with communities without the control of a central authority.

Founder and team background

• Co-founders: Olivier Roussy Newton and Harry Pokrandt

• Hive Blockchain Technologies LTD was founded in 2017

ICO Price

• Seed Round: $0.0005

• Private Round: $0.00075

• Public Round (IDO): $0.001

Risks Associated in Investing in the Coin

• Hive tokens are susceptible to the volatility expected in the cryptocurrency market, which can lead to significant price fluctuations.

• Regulatory changes or actions can impact the Hive token, as with any cryptocurrency, potentially affecting its value and legality of use.

• The Hive blockchain’s reliance on the Delegated Proof of Stake (DPoS) consensus mechanism may centralize power in the hands of a few large stakeholders, which could lead to governance issues.

• As seen with other cryptocurrencies and platforms, Hive’s infrastructure and operations could be targeted by cybercriminals.

• The possibility of financial contagion due to investments and pre-paid equipment deposits has been highlighted as a risk for Hive Blockchain Technologies Ltd.

Whitepaper Insights

The Hive whitepaper outlines the vision and technical aspects of the Hive blockchain, which is designed to be a fast, scalable, and robust platform for Web 3.0. Hive is built on a DPoS consensus mechanism and features two main cryptocurrency assets: HIVE and HBD. The whitepaper emphasizes the blockchain’s ability to handle vast content and facilitate time-based monetization, making it an attractive platform for content creators, consumers, and developers.

Hive’s architecture is designed to scale with widespread adoption, combining lightning-fast processing times with fee-less transactions. This is achieved through Resource Credits (RC), allocated to users based on their stake in HIVE and regenerating over time. These RCs perform transactions on the network without direct fees, promoting a more user-friendly experience.

The whitepaper also discusses the importance of decentralization in Hive’s governance. The platform uses a DAO-like structure called the Decentralized Hive Fund (DHF) to fund significant development work and initiatives within the ecosystem. This ensures that the community has a say in the direction and growth of the platform.

Hive’s ecosystem is diverse, with numerous dApps, APIs, and front-ends contributing to the accessibility of data and transactions. The blockchain is designed to retain the integrity of content, ensuring that it remains readily available and unaltered. The whitepaper highlights the steady growth of the Hive ecosystem since its inception, focusing on welcoming new users and developers.

In conclusion, the Hive whitepaper presents the blockchain as an evolving and innovative ecosystem that aims to fuel the mass adoption of blockchain technology. By addressing the needs of a wide range of stakeholders, including content creators, investors, and consumers, Hive positions itself as a leading blockchain technology for global use.

The whitepaper is comprehensive and technical, detailing the mechanisms that underpin the Hive blockchain and its assets. It provides a clear vision of how Hive intends to contribute to advancing blockchain technology and creating a more decentralized and accessible digital world.