Home » Trading Hive (HIVE) on Beaxy

Trading Hive (HIVE) on Beaxy

Trading Hive (HIVE) on Beaxy

Hive was developed as a hardfork of the Steem blockchain and is intended to maximize the social blockchain’s decentralization in the wake of the Tron Foundation and its CEO Justin Sun’s corporate takeover of Steem and Steemit. Hive continues to be a social blogging platform that supports dApps and the use of Smart Media Tokens (SMTs) and offers cryptocurrency rewards.

Users of the Hive platform can publish their own original articles, which are permanently stored on the Hive blockchain and cannot be altered. By upvoting their work, other users give creators native Hive dollars (HIVE). The distribution of rewards is determined by the value of the HIVE token and by an inflation mechanism built into the blockchain code.

Through a process known as staking, users can also exchange Hive dollars for Hive power, and vice versa. Influence tokens known as Hive Power allow users to earn on curation rewards and have more control over post payouts.

Users can also vote with them for the witnesses who govern the blockchain. The 30-day vesting period for newly-staked Hive tokens is a deviation from the original Steem chain. Delaying governance and voting, this helps prevent potential takeover attempts.

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Hive Technology

The Delegated Proof of Stake consensus (DPoS) model used by Steem is upheld by Hive. This enables the use of Witnesses and the voting for those witnesses by token holders, who can then assign their voting rights to the Witness of their choice.

The blockchain is governed and maintained by the witnesses. Hive is attempting to eliminate the centralization point that allowed Tron to control the voting system and blockchain governance. This is achieved through removing the sizable ninja mined stake on the Steem blockchain.

Use Cases

Users of the Hive blockchain can benefit from the following technological features in addition to the decentralized governance:

  1. 3-second block times;
  2. free transactions;
  3. scalability;
  4. personalized account/wallet names;
  5. escrow options;
  6. a rewards program applicable in gaming, publishing, and social media.

Team & Community

30 core developers have supported the network since the blockchain’s inception, according to the Hive team. Former active Steem community members and witnesses make up the bulk of this group.

There are also reportedly more than 80 other people working on development projects unrelated to the core blockchain software. The team also emphasized to the community that anyone who wishes to participate in the blockchain’s future direction may do so without restriction and that the community consensus will decide its future course.

The Hive About page reads:

People can feel true ownership in a decentralized blockchain and cryptocurrency with a diverse stakeholders’ community free of bad actors in control.

As Hive is committed to decentralization, a strong community and lack of undisputed leadership are its biggest selling point. This community, which continues to be extremely dedicated to the decentralization concept, has so far supported this.

The Decentralized Hive Fund

The Decentralized Hive Fund (DHF), a trustless development model setting aside a portion of new tokens to be created and airdropped funds for the project’s community-managed development, is one of Hive’s most significant, exciting, and innovative features.

By allocating a certain share of new HIVE tokens to the DHF at launch, the Hive blockchain was able to rival Steem in the level of tokens while building a sizable, robust pool of resources to support the network’s community and decentralized growth.

The platform’s primary liquid currency token is called HIVE. This asset can be exchanged for Hive Dollars, upgraded into Hive Power, or moved between accounts. Similar to bitcoin, it is a cryptocurrency token.

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Hive historical price

HIVEBTC Chart by TradingView

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From April 22, 2020 to April 27, 2020, the price of HIVE skyrocketed by nearly 800% thanks to listing at a number of significant exchanges, including Huobi Global and Binance. The Hive blockchain is off to a strong start thanks to the participation of long-time Steem users and witnesses, and the dApp ecosystem is expanding quickly and appears to have a bright future: HIVE/BTC.

 

Hive

The HIVE token price surge in April 2020, which helped the blockchain surpass its parent Steem by value, highlighted that positive start. While that is not the only factor in a blockchain’s success, it is one that might spark interest in the Hive community and a growth of its user base. Since HIVE’s value fluctuates frequently and noticeably, it is regarded as a moderately volatile coin. This makes for favorable trading conditions and quick increases in earnings. Cryptocurrency traders have twice as many opportunities to profit since they can earn off both the rise and decline in the coin’s value.

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Hive Buy

Hive is the first fully decentralized, user-controlled, massively scalable delegated proof-of-stake blockchain in the world. Joining a cryptocurrency exchange is one of the simplest ways to figure out how to purchase Hive cryptocurrency. The reason for that is that Hive cannot be purchased directly; however, you can either transfer your bitcoin to your Binance account and convert it to the Hive cryptocurrency, or you can purchase Bitcoin with cash, a credit card, or a debit card and then convert it into Hive. Once you’ve put Bitcoin you own or have purchased in your wallet, you can go on to obtain Hive cryptocurrency. Limit orders and market buys are the two methods available for purchasing Hive.

When you purchase Hive using a limit order, you manually set the price based on the amount you wish to purchase. You have to specify how much Bitcoin you’re willing to spend to buy Hive. Learning how to purchase Hive cryptocurrency is a simple and easy process.

Hive exchange

You can use your Hive wallet on Windows, MacOS, Linux, iOS, Android, and the web. The full list of currently available wallets is readily available. If Hive tokens were airdropped as part of the hardfork, this is undoubtedly the simplest way to store them. An alternative option called Peakd offers wallet functionality in addition to serving as a better user interface for the Hive blockchain.

  • A Chrome extension called Hive Keychain also enables users to view every Hive dApp in their browser.
  • Android and iOS device users can opt for Hive Wallet as a mobile app. It supports the creation of multiple accounts and the use of QR codes, being marketed as a secure option.
  • Another Chrome extension tool for managing Hive private keys is called Hivesigner.
  • Esteem is a visually striking and easy-to-use wrapper interface for the Hive blockchain network that lets you scroll through your feeds, write posts and comments, read replies, vote for what you like, perform wallet operations, and do even more – like searching, browsing tags, etc.