Hive For Newbies
Good morning everyone!
Today I would like to start introducing Hive and its ecosystem. I thought this topic might be of interest to several readers. Since the whole ecosystem of Hive is quite varied and articulated, I think that a few articles of explanation can help us all to better understand what this ecosystem is, how it works and how to make the most of it. This will be a first general article of a series that I would have the pleasure to bring forward to deepen the Hive ecosystem.
If you have any advice or questions, I invite you to ask me in the comments below the article!
What is Hive?
Hive is a very special and innovative social networking platform. Although the most famous social networks like Facebook, Instagram or YouTube are centralized and managed by companies that control what happens on them, Hive is not. In fact, it is a completely decentralized platform. It doesn't have an owner, a single server to store the data and nobody controls and verifies the users.
Hive is designed to store large amounts of content and make it available for time-based monetization. Examples of use include social media, interactive games, identity management, voting systems, and microfinance that provide monetized rewards for content producers. Considering the widespread adoption of currencies and platforms, the performance of the blockchain is intended to scale. By combining lightning-fast processing time and no-fee transactions, Hive is expected to become one of the leading blockchain technologies used by people all over the world.
But how is it possible to create such a platform?
Just rely on the blockchain, which is one of the most innovative technologies in recent years. In fact, it allows you to create completely decentralized platforms and projects and eliminate the presence of intermediaries. However, Hive is not just any blockchain, it is part of the most innovative and modern category 3.0 blockchain. It is based on the Delegated Proof of Stake (DPoS) protocol, which is an innovative protocol. In fact, it is more scalable and efficient than the Proof of Work (PoW) on which Bitcoin is based.
Hive was born in 2020 from the separation (hard fork) of the former Steem blockchain. This split is carefully planned by the community and community members fear that Steem is abandoning the values it established. From the hard fork to now, the project has grown so much. It is not yet fully known to the public, so there is still good room for growth.
Hive has a thriving ecosystem of over 126 apps, communities & projects and is home to some of the most-used Web3 apps in the world, such as Splinterlands, 3Speak, LeoFinance, PeakD and Hive.Blog.
Hive is an innovative and forward-looking decentralized blockchain and ecosystem that aims to scale up while considering the widespread adoption of currencies and platforms. By combining lightning-fast processing time and no-fee transactions, Hive is expected to become one of the leading Web3 blockchains used by people all over the world.
Hive is:
- Fast: Transaction take less than 3 seconds.
- Scalable: Future proof resource-bandwidth and storage system
- Powerful: Battle-tested for 5 years by hundreds apps, communities and projects around the world.
After this brief introduction about Hive, I hope you are a little clearer on what this ecosystem is. But don't worry. I will continue in the future to publish new more specific articles, in which we will go to see well all the various facets of the Hive ecosystem. In the next article we will also talk about the Hive token.
Are you on Hive for a long time? Write a tip for the community in a comment below.