What makes Hive different from other cryptos?

in LeoFinance •  29 days ago 

There are many types of cryptocurrencies in the marketplace, literally thousands - and each claims to solve a problem of some kind or several, as the usecase described may be. However so far, very few of them are actually doing much of what they claim and while many have attracted value, most of that value is pure market speculation in the hope that adoption happens and price goes up.

In this way, HIVE is similar as investors do want the price to go up, but the key difference is that the HIVE token has something that other cryptos do not, a large, active and transparent community that uses the Hive blockchain daily to interact with each other in various ways. Through this interaction and activity, it is possible to earn HIVE tokens.


The value of creators and consumers

Hive is a DPoS blockchain, which means the HIVE token can be staked and actively also used in various ways, with one of the core uses being as a social token that gives users voting rights for decision making and, access to the refilling HIVE pool resources. Unlike the way Bitcoin is mined using computing power, HIVE is "mined" through various kinds of activity, such as being rewarded by other staked users for adding content to the chain, and those same staked voters will earn some HIVE for their consumer activity too.

All HIVE that comes out of the pool is distributed in some way back into the community to people from all over the world, doing all kinds of things. There are many artists and writers, developers and investors, people using it like social media, people using it because of the censorship protection and security for the content that is important to them. The Hive community is very diverse.

A place to build

There are many ways that HIVE can be earned and distributed and because the blockchain is fast, secure and scalable - it is the perfect place for developers to get involved and build their applications, whether it be for gaming or business or even, tokenization and monetization of pre-existing communities and websites through direct and second-layer solutions. The Hive blockchain also has free transactions built into the blockchain which coupled with the speed, security and scalability, makes it a very low-cost entry point to build upon.

And speaking of development, Hive also has the Hive Development Fund, a pool of HIVE resources that is set aside for development actions proposed by users and voted upon by the community. This can for example, fund application development or other actions that support the community, such as marketing or exchange listings. This is a powerful and decentralized fund that the community can affect. Plus, a developer has a knowledgeable and diverse community who is already primed and incentivized as owners to support development to leverage.

Owning the internet

There are many reasons to participate on Hive, but the main one is that Hive offers a user active ownership of experience, meaning that a HIVE user doesn't just hodl their tokens or trade them on an exchange, every day they are able to actively use them to interact with other users and directly affect the future of the token and community.

Nearly all cryptocurrencies are based on individual outcomes with a profit focus, where strangers trade with strangers in the hope of gaining advantage over one another on exchanges. Being a socially distributed token, HIVE is about value being added by growing the community, by creating applications that support the community, by supporting users who add value to the community.

Thousands and thousands of people are interacting daily and they are actively developing a network of relationships that span the globe. While most blockchains struggle for usage, Hive has one of, if not the, largest active crypto communities and it is made up of all kinds of people - from the highly technical all the way across to grandparents who have learned how to earn, trade and negotiate in what is too often, a complicated industry. What Hive is doing is rapidly closing the gap between new technologies and end users, it is moving toward mass adoption and already has the infrastructure to support it.

As you can see, I mention community a lot and this is because the greatest value Hive has is the growing userbase who actively build, create, engage, consume and invest on the Hive blockchain. It is this community of Hive users who have a blockchain that encourages interaction that will slowly replace the Web 2.0 internet with Web 3.0, an integrated and user owned and driven internet that is more valuable for all. With low barriers to entry and the potential to earn on activity that one might already be doing elsewhere, it is a no-brainer decision to participate and see what it is all about.

What makes HIVE different from other cryptos?

The community.

Value is driven by demand and for over four years, Hive has been able to keep a community of users engaged enough through ups and downs to keep building, creating, interacting and investing themselves into adding value to the blockchain and userbase. While other cryptos speculate on price and promise-ware, HIVE has attracted users to form an eclectic community to improve their position together, something rare in the cryptosphere and in the world in general, and something that sets it apart from the rest. And, the commitment of the community has been battle-tested and proven recently, when it forked in order to protect a decentralized blockchain, from centralization.

While other cryptos promise individual value by holding - Hive encourages the development of value by building the community itself. There aren't winners and losers on Hive, there are those who take part and those who don't.

Hive makes crypto and blockchain technology accessible to all.

[ Gen1: Hive ]

Posted Using LeoFinance

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  ·  29 days ago (edited)

Yes! Yes! Yes! I want to see posts like this everyday, no other chain can beat what we have here

Hopefully people start seeing how they can add value themselves all over the internet - a slow take over :)

The community aspect of Hive is one of its biggest qualities and advantage. Even if Hive would be low or not worth anymore, I would still be here because of the way it makes me feel. That's the power of a community beyond financial outcomes.

Even if Hive would be low or not worth anymore, I would still be here because of the way it makes me feel.

This is what quite a lot of people have proven since the falloff in the markets from January 2018 and then, even after all of that - still saw value enough to start a new chain when the community was under threat.

Hive needs this kind of people. To stick in highs and lows. That's what a true community is all about

That's what a true community is all about

No community survives without a core that will not abandon it

Yes, it is like the base pillars on a foundation of the house. You can change furniture, lose some, win some, but the pillars remain

@tarazkp great post as always,
Agreed and also encouraging to get realistic positive view on the use case of HIVE. I do however have one issue with our wonderful platform the same one I had before we moved from the platform that shall not be mentioned to HIVE, and that one thing is a huge problem, that one problem is the immense difficulty we have with the process of onboarding. I say this because I personally have lost tons of eager prospective bloggers purely due to the atronomical gymnastics one has to endure to simply get registered.

I truly think that is probably one of the major reasons why we are doing OK, but preventing us from doing great.

So we will indeed continue growing at a steady rate (nothing wrong with that) but we can, in my opinion, do so much better, if "someone" took charge of streamlining onboarding so it is easy enough for the masses to join the HIVE family, without losing a limb in the process.

Always good reads. stay safe and healthy.

I say this because I personally have lost tons of eager prospective bloggers purely due to the atronomical gymnastics one has to endure to simply get registered.

Is it still so hard to register, there are plenty of gateways in, many of which are free and instant afaik: https://signup.hive.io/

I haven't registered anything through there myself though, as I have accounts spare.

Since i posted comment I stumbled across this site

seems pretty straight forward, have not tested though

Yep, there are several now and I think that one is listed in the signup page too

This is a great post that needs to be spread.

Spread it around!

The major advantage which hive has is that it's well decentralized.
For the price, be it up or down, hundreds of thousands will still be doing what they know here.

Am a big fan of hive

Am a big fan of hive

Me too.

Perhaps it will take a bullrun to get a lot of people here, but if they find it even half as compelling as I do, we'll be fine :)

I pray for that same bullrun too.

Outstanding serious marketing summary of what the HIVE blockchain really is. A post which should be shared on every Social Network around. And one which immediately I'm gonna Rehive to my own blog and I'm gonna save in my browser favorites folder to spread the joy everywhere later on.

Cheers!! :)

Glad you liked it. It isn't often people like positive posts about this place :D

Those who don't like a well written post with such synthetic brief summary without much babbling or ass kissing. Are just peeing outta the tin. }:)

interesting visuals. :D

Haha yes, must be my folkloric prose in almighty spanglish. :D

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