WHAT IS HIVE

10 mo
LeoFinance
5 Min Read
932 words

leofinance community witness for the hive blockchain ecosystem.pngHive is a blockchain based social media network that was created on March 2020 in which content that is stored on hive is stored on the blockchain which can be considered as a big database of content and there are websites that put content on the blockchain and retrieve it to show on the website it can be text it can be videos it can be pictures, but it can also be Jason format information if you're a programmer you probably know what Jason means this is a type of information that can be stored and read by almost any programming language this allows the hive blockchain to be like the database
for a lot of different kinds of applications there's for example an application called 3 speak
which is a vice to YouTube, so you can earn money by posting videos on 3 speak,

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image from 3speak

blockchain also allows the game creators to have a blockchain based game that allows them to transfer value because each block is the time between each block is only three seconds when you compare with blockchains like Bitcoin it's about 10 minutes per block so imagine how much information can be carried by such a blockchain and there is another great thing on hive every user has an integrated wallet that allows him to send coins to other users and so on and these transactions are 100% free money value created on hive blog
post even review or whatever on hive there is no content restriction and there is no censorship which is quite important let's say you created this content, and actually you have the whole hive community as your potential like let's like consumer of your content and if people like what you created they might give you an output these opens are very important because it's the uploads actually that determine the value of your content and let's say user a has 25 power this is staked hive the hive is token of the hive blockchain, and I've published staked the more high power you have
to more value your upload will carry so for example the user be with 505 five power will have a much higher upload value than the user but all this up to votes are cumulative and create value to your content important thing is that no value is transferred from user to you. the only thing that they transfer is there up vote they give the information to the blockchain and this is good content and accordingly the blockchain from the reward pool of the blockchain attributes value to your content, immediately you get a payout for your content seven days after the publication the value that has
been generated by the content is distributed 50% of this value goes to the author and 50% goes to the people who uploaded this content the distribution of this 50% depends on the amount of high power that you have the more you have, the bigger your part of the rewards will be so this offers very
interesting revenue possibilities you can earn on hive by simply creating content, but you can also earn by
curating content by up voting other peoples posts and the curation rewards are quite interesting, so yeah thing
is maybe you don't want to spend too much time curating people on the blockchain and reading people's post, so
you can automate these things there are services that allow you to automatize your approach you can for example
approach always the same authors that you like, and you can also delegate your hive power to other users so that
they can vote with your power so let's go now a little more into detail about how this hive really looks
like I have here the hive blocks website that is a kind of blockchain explorer that allows you to see all the transaction
for a certain account this is my account, and you see all my up votes all my correction rewards my author rewards and also there's
the possibility to comment to answer to comments you can up vote comments you can reach power regenerates overtime, but it means
that you can only up vote certain amount of time and the lower your voting power less value your up votes will have you have a
down vote power I never down vote so that's why it's 100%, but you can also down vote people there are even free down votes if you
believe that they are doing things that are not worth having on the blockchain, but I refrained from using it its up to you
or everybody else and what is also important is the resource credits for every transaction that you do on the hive blockchain
you will use resource credits and if you have very little HP this resource credits will be used very fast and this will
prevent you for example from writing comments or uploading things and so on, and you might struggle with that at the beginning, but there are some places that can delegate you high power at the beginning I think around 50 high power is enough just to be
able to do whatever you want and with time you will get your own high power, and you will have no problems no restrictions with
this resource credits.
Its a privilege to post on leo finance and i hope this post will explain more and clear more doubt about hive
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Posted Using LeoFinance Beta


10 mo

Your content has been voted as a part of Encouragement program. Keep up the good work!

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am really happy to join you all here thanks for the privilege

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This is a terrific topic that requires spreading.

Posted Using LeoFinance Beta

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