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Investing In Hive (HIVE) – Everything You Need to Know

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Ever since the internet era started, information has been the most valuable asset in the world, exceeding money, and even gold. However, the problem is that the data collecting agencies, companies, and websites are taking it without the users’ consent. Blockchain technology promises to change that in Web 3.0, which will empower users and let them choose who they grant access to their data.

However, another aspect regarding data that is just as important as its security is its information sharing. There is a fine line between protecting the data and having it available for sharing in a way that the industry can continue to function, and a project called Hive (HIVE) is dealing in finding that very line and walking it so that the crypto industry could continue to operate adequately and without problems.

What Problems Does Hive (HIVE) Solve?

Hive is a decentralized information-sharing network that features an accompanying blockchain-based financial ledger built on the DPoS protocol. In other words, it is a project that offers solutions regarding data-sharing in a unique way.

Increased accessibility of data

The project was structured in a way that allows it to support many different types of information-sharing applications. For example, it supports APIs, Myriad dApps, and front-ends, all of which contribute to the general and straightforward accessibility of transactions, data, and records. By ensuring that this data will continue to flow without interruptions, Hive is extending diversity and utility, which, in turn, ensures that the ecosystem will remain welcoming to content creators, investors, builders, and consumers alike.

Capable of storing a vast amount of content

Hive is not only thinking about data sharing, but also about storing it. In fact, its blockchain is capable of storing vast amounts of content, which can then be used for monetization. Content can be submitted in the form of a post or comment, and once submitted, it will become monetizable for a period of 7 days. During this time, it can be curated upwards or downwards through upvotes and downvotes, similarly to how Reddit works.

Enables time-based monetization

Speaking of monetization, the project tackles this issue in a unique way, as well. As mentioned, the uploaded content can be monetizable for a period of seven days. Some examples of use include social media, where content producers, interactive games, identity management, micro-loans, and polling systems can all come with monetizer rewards.

Highly scalable

Finally, it is worth noting that the project is highly scalable. Its blockchain was designed with the ability to scale with the widespread adoption of the platforms and currency alike. In other words, the project scales whenever there is a need to accommodate greater interest and usage. On top of that, it also combines lightning-fast processing times with fee-less transactions to become one of the leading chains in terms of innovation, scalability, use cases, and cost-effectiveness in the world.

Benefits of Hive (HIVE)

Hive certainly has a lot to be proud of, but what we really wanted to see is what are the benefits for individual users, and we found several very important things, including:

Get monetized rewards

As mentioned, there is a number of activities that can allow users to become eligible for receiving monetized rewards. Producing content, playing interactive games, identity management, micro-loans, and more, can all ensure that users will be rewarded for their contribution and participation.

Fee-less transactions

Making transactions in the crypto industry comes at a price, which has been the main reason why people started leaving Ethereum. With each DeFi and dApp activity involving smaller transactions, and each of them coming with a great fee, Ethereum has become nearly impossible to use. At least, unless if you are comfortable waiting for long periods to have your transactions processed.

Hive, as a much more scalable project, could ensure that users would only have to pay minimal fees when conducting transactions. However, the project decided to do its users a favor and eliminate fees entirely, becoming one of the rare few projects to feature fee-less transactions.

Governance

Being fully decentralized and in the hands of its community, Hive depends on the community members’ participation in the projects’ governance. Simply put, those who hold its native HIVE token are eligible to vote on various proposals that wish to introduce changes to the network, or to submit their own ideas and have the rest of the community do the voting. The more HIVE you own, the more weight your vote carries.

How Does Hive (HIVE) Work?

Hive is an innovative, forward-looking decentralized blockchain and ecosystem. It was designed to scale with widespread adoption of the currency and platforms in mind. It combines extremely fast processing times with fee-less transactions in order to become the most scalable and cost-efficient blockchain around.

However, the project’s true worth comes in the area of information sharing. It is a decentralized data-sharing network that is accompanied by blockchain-based financial ledger. It supports different types of data-sharing applications, all with the goal of making data, transactions, and records of all kinds more accessible and available to anyone and everyone.

All of this results in its ecosystem being more welcoming to developers, users, investors, consumers, content creators, and alike.

How to Buy Hive (HIVE)

Currently, Hive (HIVE) is available for purchase on the following exchanges.

Binance – Best for Australia, Canada, Singapore, UK and most of the world. USA residents are prohibited from buying Hive (HIVE). Use Discount Code: EE59L0QP for 10% cashback off all trading fees.

Huobi Global – Established in 2013, Huobi Global has since become one of the world’s largest digital asset exchanges, with an accumulated trading volume of US $1 trillion.  It should be noted that Huobi Global currently does not accept USA or Canadian residents.

WazirX – This exchange is part of the Binance Group, which ensures a high standard of quality.  It is the best exchange for residents of India.

Hive (HIVE) — The blockchain and cryptocurrency for Web3

Hive is a very important project for the future of data sharing in the blockchain industry, particularly when it comes to Web 3.0 — the future version of the internet, which will run entirely on the blockchain. By dedicating its efforts towards inclusion, benefits for the users, and other similar things, it will help the blockchain grow, become more inclusive, boost its adoption, and generally improve the way data is being handled. And, let’s not forget that it features a number of activities that will be rewarded, which is even further incentive for users to join this project.

Ali is a freelance writer covering the cryptocurrency markets and the blockchain industry. He has 8 years of experience writing about cryptocurrencies, technology, and trading. His work can be found in various high-profile investment sites including CCN, Capital.com, Bitcoinist, and NewsBTC.

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