Hive (HIVE)

What Is Hive Cryptocurrency? Hive cryptocurrency (HIVE) is an open-source, blockchain-based project that was first launched in March 2020. It was created as a fork of the renowned social sharing platform, Steem, by Jred Markus, former CTO of Steem. The primary motivation behind the hardfork is to resolve the challenges in the governance of Steem, as it is a decentralized network that has since had troubles in allocating their value-added applications. Hive cryptocurrency is a cryptocurrency that can be bought and sold, like Bitcoin and Ethereum, and it can be used as a medium of exchange to transact between individuals, too. It can be used to pay for goods, services, and even rewards. Furthermore, Hive also gave rise to an entire ecosystem of decentralized applications (Dapps) and websites being developed by blockchain entrepreneurs and developers. Who Founded Hive? Hive was first founded in March of 2020 by Jed McCaleb, the former CTO of Steem. He was inspired to create Hive after experiencing a great amount of frustration in the Steem network’s cumbersome governance process. Developingit in the form of a hardfork, Jed and his team decided to create Hive, a faster, fairer, and more secure blockchain. What Makes Hive Unique? Hive is particularly unique in that it incorporates delegated proof-of-stake (DPoS) as its consensus mechanism. This means that instead of mining blocks of data on the chain, validators are assigned and randomly selected to work on the data blocks instead. This makes it much more energy-efficient and less costly than traditional proof-of-work (PoW) consensus mechanisms such as those used by Bitcoin and Ethereum. Hive is also unique in that it allows for faster transaction speeds and lower fees than most other cryptocurrencies. This makes it an attractive choice for those who want to quickly send and receive payments, as well as for developers who want to test and deploy their decentralized applications more conveniently. Where Is Hive Used? Hive is used primarily by developers and investors alike as a platform to develop and launch decentralized applications (Dapps). The Hive community is primarily composed of developers who are passionate about creating useful, secure, and innovative applications on the blockchain. The other primary use of Hive is by the growing population of investors and traders who wish to capitalise on the incredible returns of the cryptocurrency markets. Hive is currently one of the most popular altcoins, with a favourable outlook and an active trading community. Where to Buy/Sell Hive? Hive is a popular and highly liquid cryptocurrency that can be found on most of the major cryptocurrency exchanges, such as Binance, Coinbase, Kraken, Poloniex, and Huobi Global. These exchanges also provide trading pairs for many other major cryptocurrencies as well, such as Bitcoin and Ethereum. The safest and more convenient way to purchase HIVE is via an online platform such as Crypto.com, where you can purchase HIVE with a credit or debit card. You can also send your HIVE to a compatible wallet and store it offline, away from potential hackers and malware attacks. Conclusion Hive cryptocurrency (HIVE) is a fascinating project that has a lot of potentials for an expansive blockchain-based ecosystem. It boasts low fees, fast transactions, and high levels of security, as well as a highly engaged and active community of developers and investors. As cryptocurrencies continue to rise in popularity, Hive will certainly continue to gain strength in the markets, making it a cryptocurrency worth taking a closer look at.