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What is Hive (HIVE)?
Hive is a decentralized open-source blockchain network that focuses on providing underlying support for Web3 applications (especially social media and content creation).
Background: Hive was born in March 2020 as a 'hard fork' initiated by the original Steem blockchain community. The reason was that the community was concerned about centralization after TRON founder Justin Sun acquired Steemit, so they collectively migrated to the new chain Hive.
Core concept: It emphasizes 'community ownership, community operation', and is a social and economic ecosystem without central authority and resistant to censorship.
Token system: A three-token model:
1. HIVE: The main token, with liquidity, can be bought and sold on exchanges.
2. Hive Power (HP): HIVE that is locked (staked) represents your voting power and influence in the community.
3. Hive Backed Dollars (HBD): An algorithmic stablecoin pegged to the US dollar.
In simple terms, Hive is a decentralized 'base camp' that converts social interactions into crypto earnings.
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How does Hive (HIVE) compare to the real world?
You can compare Hive to:
The 'collectively owned Zhihu or Douban' of the digital world.
1. Collectively owned company: It's like a media company without a boss, collectively owned by all employees (users). The articles and comments you publish earn you not just traffic likes but real salaries (token rewards).
2. Credit scoring system (HP): The longer you stay in the company and the greater your contributions, the higher your 'position' (HP) will be. When high-ranking individuals upvote others' articles, the upvoted individuals receive a larger 'bonus'.
3. HIVE tokens = company options or circulating shares: You can exchange them for cash or store them for greater speaking weight.
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What is the value of Hive's existence?
1. Content ownership: On Weibo or Twitter, your account may be banned, and content may be deleted; on Hive, your content is permanently recorded on the blockchain, and no one can delete it.
2. Earnings belong to creators: Traditional social platforms earn ad revenue through user data, with money going into the pockets of the giants; Hive distributes newly generated tokens to content creators and curators (upvoters).
3. Web3 infrastructure: Its extremely high transaction speed and zero transaction fee characteristics provide a low-cost development environment for games and social applications.
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What is the main business or purpose?
Decentralized social (dSocial): The most famous front-ends are Hive.blog and PeakD, where users post, interact, and earn tokens.
Web3 games: The famous card game Splinterlands initially exploded on Hive, leveraging its ultra-fast processing capabilities to handle game commands.
Content storage and distribution: As a decentralized database, it stores blog posts, comments, and various metadata.
Governance voting: Witnesses are elected through HP, responsible for maintaining servers and signing blocks.
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What are the core technologies and core competencies?
Core technology: DPoS consensus and ultra-fast performance.
1. DPoS (Delegated Proof of Stake): Users vote to elect 20 main validators, producing one block every 3 seconds.
2. Zero transaction fees: This is Hive's killer feature. Users can transfer and post for free by consuming 'Resource Credits', experiencing something very close to traditional apps.
3. High throughput: Officially claimed to handle tens of thousands of transactions per second.
Core competitiveness: Community loyalty and mature ecosystem.
Pure decentralization: Having gone through the battle against Sun Yuchen, the Hive community is extremely averse to centralized control and has a strong consensus.
Ecological diversity: With hundreds of DApps covering various fields such as video (3Speak), social, gaming, finance, etc.
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What is Hive's profit source?
The Hive blockchain itself does not have the concept of 'profit'; it operates through an inflation model:
1. System inflation: The network automatically generates a certain percentage of new tokens each year.
2. Distribution mechanism: Most of these new tokens are allocated to content creators and upvoters, a portion goes to HIVE stakers (earning interest), and a small part enters the 'Decentralized Hive Fund (DHF)' to fund developers.
3. Ecological value appreciation: As applications increase, the demand for HIVE tokens (especially to obtain HP voting rights) rises, thus driving up token value.
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What factors influence Hive's price?
1. Burst of popular applications: If a blockbuster game like Splinterlands emerges in the ecosystem, it will attract a large number of new users to buy and lock HIVE.
2. Social network effects: The number of creators and content quality. The better the content, the more investors and readers it attracts.
3. Token lock-up amount: If most users choose to convert HIVE into HP (lock-up requires 13 weeks to redeem), market selling pressure will be greatly reduced.
4. Similar competition: Competition from other social public chains (such as Lens Protocol, Farcaster).
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What similar virtual currencies are there?
Steem (STEEM): The predecessor of Hive, still operational but dominated by the TRON ecosystem.
BitClout / DeSo (DESO): Also a public chain focused on social financialization.
Theta (THETA): Focused on decentralized video streaming.
Lens Protocol: Although not a token, it is currently the strongest decentralized social competitor.
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What advantages does Hive have?
| Advantages | Simple explanation |
| --- | --- |
| Truly no transaction fees | Transfers, posting, and upvoting are completely free, and users hardly feel like they are using a blockchain. |
| Extremely fast | 3-second confirmations, smooth interaction experience, unlike Ethereum that requires waiting. |
| Extremely high risk resistance | Having gone through hardcore community split battles, it has strong anti-censorship and decentralization properties. |
| Mature revenue model | It has been running for years, and its logic of 'content as mining' has been validated as feasible. |
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Easy-to-understand summary.
Hive is a massive internet community 'where netizens decide'. Every good article you write and every like you give can turn into money. It's as fast as Weibo, free of charge, and no one can shut down your account. Holding HIVE is like owning a piece of land in this community; you can earn rent (dividends) from it and vote (speak) with it.
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2025