What is Hive?
Hive is a highly scalable Delegated Proof of Stake (DPoS) blockchain and social decentralized finance (DeFi) ecosystem providing a fast and fee-less infrastructure solution for content creators, consumers, investors and developers to store and monetize large amounts of content to the Hive blockchain. Hive uses a novel staking-based Resource Credit mechanism to fund its fee-less transaction model. Leveraging the unique Proof-of-Brain (PoB) concept model, Hive distributes a portion of HIVE token inflation value among its network of creators and consumers. Transactions can be made immediately upon account creation with no financial investment required for users to participate in the Hive ecosystem. Non-investment stake growth is determined by individual ecosystem participation including contribution of textual content (publishing) to blogs and discussion posts, curation of Hive sharable content, and building and engaging with DApps. The Hive ecosystem is home to many well-known DApp projects including NFTMart, LeoFinance, and Splinterlands trading card game. Hive simplifies cross-platform integration by allowing the declaration of custom JSON objects to store text data on-chain, enabling any modern web application to be integrated with Hive blockchain. To mitigate the risk of a 51% attack, the Decentralized Hive Fund (DHF) was created as a proposal-based DPoS financing alternative placing the consensus behind direct financing of development and other ecosystem-positive projects into the hands of stakeholders using the Hive Proposal System. Hive features two classes of cryptocurrency assets named HIVE and Hive Backed Dollars (HBD), a collateral backed stablecoin pegged 1:1 to the value of the US dollar. Hive Power (HP), the staked form of HIVE, can be used to participate in community governance. HP can also be vested during a process referred to as a "power up". After being powered up, HP can then be entirely or partially un-staked as needed in a process referred to as a "power down". Rewards for user content are paid as HIVE or HBD, with option to claim a modified percentage as HP to further encourage staking within the ecosystem.
