Introduction to Hive crypto
We introduce Hive crypto and speak about all the benefits the hive.io blockchain has to offer.
Hive is a DPoS blockchain that acts as the backbone for a selection of tokenised communities and dApps.
A uniquely decentralised blockchain Hive is built on the Delegated Proof of Stake (DPoS) protocol ensuring it is fast and scalable.
Due to its unique distribution model, Hive has been battle tested against attacks and is a truly decentralised blockchain built for Web 3.0.
Following Justin Sun’s 2020 acquisition of Steemit Inc and the ninja mined stake that came along with the company, Steem was essentially centralised.
To combat the centralisation of Steem, Hive was forked from Steem and replaced Steemit’s ninja mined stake with the Decentralized Hive Fund (DHF).
While the Hive blockchain is technically a fork of the Steem blockchain, the community (otherwise known as layer-zero) chose Hive, actually making it the premier social blockchain.
Hive was officially born in March 2020.
Introduction to Hive
Primarily, Hive is known as a social blockchain due to its primary use case of allowing immutable on-chain social media-esque activities such as blogging via the LeoFinance or PeakD front-ends.
Hive is a clear gateway from Web2 to Web3, allowing users to essentially do what they already do on sites like Facebook, Twitter, Medium and Reddit.
But affords them all the benefits of Web3 such as immutable accounts, censorship resistance and the ability to make money from their own data.
It’s this social aspect of the blockchain that has allowed Hive to forge such a strong community and ultimately put it in a position to see off the might of Justin Sun.
Hive continues to position itself as one of the leading blockchain-based platforms for decentralised applications.
The Hive blockchain currently features a thriving ecosystem of over 126 popular dApps, communities and projects such as the popular Splinterlands game.
As more developers start to see the advantages that Hive’s fast and free transactions offer their users, the Hive ecosystem will continue to steadily grow.
Unlike Ethereum however, the Hive blockchain is designed with scalability in mind and its DPoS resource credit model ensures blockchain performance is maintained as adoption picks up.
Hive remains a massively underrated crypto project due to its user friendly tech and passionate community.
When comparing decentralisation, activity and simplicity to the myriad of higher ranked coins available, this Hive guide will quickly highlight the explosive potential of Hive for all to see.
Best of probabilities to you.
Direct from the desk of Dane Williams.
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This Hive crypto blog is exclusive to leofinance.io.
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