About Hive (HIVE)
Hive is a decentralized blockchain ecosystem built on the Delegated Proof of Stake (DPoS) protocol. The project is tailored for broad Web3 adoption and it supports a fee-less operation through a their Resource Credit system. This system enables substantial content storage and time-based monetization opportunities, which is advantageous for content creators, developers, and consumers. According to their website, Hive provides a quick, scalable, and flexible solution within the blockchain space.
Hive uses a system called Delegated Proof of Stake (DPoS) at its heart. This allows those holding the HIVE cryptocurrency to vote for certain individuals, known as witnesses, to oversee the network's operations. Each Hive account holds a certain amount of credits related to its stake (Hive Power). Called Resource Credits, they are used when transactions are executed, and then recovered over time. Hive also has a component called the Hivemind layer, which helps the blockchain store and manage more data. This makes Hive flexible enough to support a range of digital apps.
As per the team, Hive is suitable for multiple utilities from social media to gaming apps and decentralized financial services. It lets users make money from their content using its own currenciesâHIVE and Hive Backed Dollars (HBD). The live price of HIVE is available and can be tracked in real-time on Binance.