HivePrice

(HIVE)

Hive was created in March 2020 as a "hard fork" of the Steem blockchain. The community initiated the fork to escape centralized control after a controversial takeover of Steemit Inc. by Justin Sun. This event led to the community-driven creation of Hive, establishing it as an independent, decentralized blockchain.

"Powering Up" is the process of staking your liquid HIVE tokens to acquire Hive Power (HP). This action increases your network influence and Resource Credits. Conversely, "Powering Down" is the process of unstaking your Hive Power back into liquid HIVE. This unstaking takes 13 weeks, with funds distributed in 13 equal weekly payments, a mechanism designed to prevent sudden market dumps and protect the ecosystem's stability.

You can earn HIVE through several avenues within the ecosystem. Content creation, such as writing posts on platforms like PeakD, allows you to receive rewards. Curation is another method, where you earn by upvoting high-quality content; 50% of a post's reward goes to the author, and the other 50% is shared among curators. Additionally, depositing Hive-Backed Dollars (HBD) into a savings account can yield significant interest, and playing Play-to-Earn games, like Splinterlands, offers further earning opportunities.

Yes, Hive operates without traditional transaction fees. Instead, it utilizes a system called Resource Credits (RC). Every account is allocated RCs that regenerate over time. As long as your account holds a small amount of Hive Power (HP), you will have sufficient Resource Credits to perform common actions like posting, commenting, and transferring tokens without incurring any direct costs. This design promotes accessibility and frequent engagement on the blockchain.

Hive implements a tiered permission system with four distinct keys to enhance security and granular control. The Posting Key is for routine social actions like voting and posting. The Active Key handles wallet transactions and token transfers. The Memo Key encrypts private messages. The Owner Key is the most powerful, used to reset all other keys and for critical account recovery. This separation limits potential damage if a less powerful key is compromised, safeguarding your assets and account.

No, this is a very common point of confusion, but they are entirely distinct entities. Hive (HIVE) refers to the decentralized, community-governed Web3 social blockchain project. In contrast, HIVE Digital Technologies (formerly HIVE Blockchain Technologies) is a publicly traded company primarily focused on Bitcoin and cryptocurrency mining. Despite the similar names, they are unrelated entities with different missions and operational structures.