Hive

price
change

Discover Hive's fundamentals and latest news.

This content was generated by Whalee (BETA), an AI crypto assitant that analyses cryptocurrencies. Informations can be incomplete and/or erroneous. Please always double check and DYOR.

What is Hive?

Hive (HIVE) is a decentralized content sharing platform that rewards users with HIVE coins for active participation. It operates on a Delegated Proof of Stake (DPoS) protocol, where users elect Witnesses to validate transactions and produce new blocks. The platform is designed for social media dApps, emphasizing speed, security, and large storage space for media. HIVE has a unique Proof of Brain protocol, incentivizing quality content creation. Users can easily send HIVE amongst each other, and it also exists in a non-liquid form called Hive Power (HP), which can be delegated to Witnesses. Additionally, the Hive network features a stablecoin called Hive Backed Dollar (HBD), pegged to the US Dollar.

How is Hive used?

The cryptocurrency Hive (HIVE) is used in various ways within the Hive ecosystem. Here are some key uses:

  1. Factoring and Liquidity: Hive is designed to facilitate quick and cost-effective liquidity through factoring, where companies can purchase unsettled receivables and manage the money acquisition. This allows businesses to acquire claims at a lower value, benefiting both the seller and the buyer.

  2. Content Creation and Rewards: Hive rewards users for creating and curating content, including social media posts, comments, and other digital content. Users can earn Hive tokens and Hive Backed Dollars (HBD) based on the engagement and upvotes they receive from the community.

  3. Decentralized Social Media: Hive is used to power social media platforms like PeakD, where users can earn Hive tokens by creating and sharing content. The platform allows for time-limited monetized rewards, with users able to earn Hive tokens for up to seven days after posting content.

  1. Staking and Influence: Hive tokens can be converted into Hive Power, which measures a user's influence within the network. Users with more Hive Power have a greater influence over the allocation of rewards for posts and comments.

  2. Trading and Exchange: Hive tokens can be traded and exchanged for other cryptocurrencies on various exchanges, including Binance, Bittrex, and Ionomy.

  3. Decentralized Finance (DeFi) and Gaming: Hive supports a range of decentralized applications (dApps), including games, non-fungible tokens (NFTs), and DeFi projects, which utilize the Hive network for their operations.

Overall, Hive is a versatile cryptocurrency that supports a wide range of use cases, from content creation and social media to decentralized finance and gaming.

How do I store Hive?

To store Hive (HIVE) tokens, you can use a variety of wallets available for different platforms. Here are some options:

  1. Hive Wallet: This is a self-custody wallet that allows you to store, buy, send, receive, and swap tokens across multiple blockchains. It supports over 100 different tokens across 8 blockchains, including Bitcoin, Ethereum, Solana, and more.

  2. Hive Wallet (Hive.io): This wallet is available for Windows, MacOS, Linux, iOS, Android, and Web. It is open-source and offers a range of features for managing your Hive tokens.

  3. Other Wallet Options: There are several other wallets available for Hive, including Vessel, Ecency, Keychain, LeoFinance, Peakd, and Ledger. These wallets are also open-source and offer various features for managing your Hive tokens.

  1. Transferring from Exchanges: If you have Hive tokens on an exchange like Binance, you can transfer them to your Hive wallet by following a few simple steps. This involves logging into your Binance account, finding your Hive tokens, and withdrawing them to your Hive wallet using your Hive blockchain username as the wallet address.

These wallets provide a secure and convenient way to manage your Hive tokens and engage with the Hive ecosystem.

How to buy Hive?

To buy Hive (HIVE) tokens, follow these steps:

  1. Choose an Exchange: Select a reputable cryptocurrency exchange that offers HIVE, such as Binance, Gate.io, WazirX, or Pionex. Each exchange has its own set of features, fees, and supported regions, so choose one that suits your needs.

  2. Create an Account: Register on the chosen exchange's website or mobile app. You will need to provide identification and verify your email address.

  3. Deposit Funds: Deposit the desired amount of funds into your exchange account using a supported method such as credit card, debit card, bank wire, or ACH transfer. The available methods may vary depending on your location and the exchange.

  1. Buy HIVE: Use your deposited funds to buy HIVE tokens. You can do this by selecting HIVE as the asset you want to purchase and specifying the amount you want to buy. Confirm the transaction and wait for it to process.

  2. Store or Use Your HIVE: Once you have purchased HIVE, you can store it in your exchange wallet or transfer it to a personal wallet. You can also use HIVE to trade for other cryptocurrencies or participate in activities on the Hive Engine.

Remember to always follow the specific instructions and guidelines provided by the exchange you choose, as the process may vary slightly.

Discover
Hive
We give you the tools to invest your time and money in 1000+ tokens.
Subscribe

History of Hive

HIVE Blockchain Technologies Ltd., formerly known as Leeta Gold Corp, was incorporated in 1987. Initially, the company focused on gold mining. However, it shifted its focus to cryptocurrency mining in 2017, becoming one of the first crypto companies to list on a major stock exchange. This transformation allowed traditional investors to gain exposure to the crypto economy and its growth opportunities.

The company operates data centers in Iceland, Sweden, and Norway, utilizing hydroelectric power to minimize environmental impact. These facilities were acquired from Genesis Mining, a leading cloud mining provider, through several agreements. Genesis Mining holds 30% ownership in HIVE blockchain.

HIVE blockchain is listed on the Toronto Stock Exchange, making it one of the few blockchain startups to achieve this milestone. The company's all-time high on the stock exchange coincided with the 2017 bull run in the cryptocurrency market.

Today, HIVE Digital Technologies Ltd. continues to engage in the mining and sale of digital currencies, including Ethereum Classic, Bitcoin, and other coins. It also offers infrastructure solutions and operates data centers.

Discover
Hive
We give you the tools to invest your time and money in 1000+ tokens.
Subscribe

How Hive works

Hive (HIVE) is a cryptocurrency that operates on the Hive blockchain, a decentralized platform that rewards users for creating and curating content. Here's an overview of how it works:

Hive Tokens and Power

Hive has two main tokens: Hive (HIVE) and Hive Dollar (HBD). Hive is the base currency token, similar to Bitcoin or Ethereum, and can be traded, spent, or transferred. Hive Power, on the other hand, is a measure of a user's influence within the Hive network. The more Hive Power a user holds, the more influence they have over the allocation of rewards for posts, votes, and comments. Users can "power up" by converting their Hive tokens to Hive Power, which can then be used to vote on content and influence the rewards distribution. Conversely, Hive Power can be converted back to Hive tokens through "powering down."

Content Creation and Rewards

Hive rewards users for creating and curating content. When a user creates a post, they can earn Hive tokens and Hive Dollars based on the engagement their post receives. The rewards are distributed seven days after the post is created. Users can also earn up to 50% of the post rewards by upvoting others' posts, which is called consumer rewards.

Hive Blockchain and Consensus

The Hive blockchain operates on a Delegated Proof of Stake (DPoS) consensus model. This means that users who hold Hive tokens can vote for witnesses, who are responsible for validating transactions and maintaining the blockchain. The witnesses with the most votes are chosen to secure the network and validate transactions. This model is more energy-efficient compared to traditional Proof of Work (PoW) blockchains like Bitcoin.

Resource Credits and Transactions

Hive uses a resource credit system to manage transactions and interactions on the blockchain. Users are awarded resource credits based on their Hive Power, which determines how frequently they can interact with the blockchain. This system helps prevent spam and ensures that users with more Hive Power have more opportunities to engage with the network.

Hive Dollar and Savings

Hive Dollar (HBD) is a USD-pegged algorithmic stablecoin backed by Hive. Users can convert Hive tokens to Hive Dollars, which can be stored in a savings account and earn interest. The interest rate is variable and determined by the witnesses through a voting process.

Decentralized Governance

Hive is a decentralized blockchain, meaning that there is no single entity controlling the network. The community drives the development of Hive through stake-weighted voting, which allows users to fund proposals and shape the direction of the project.

Overall, Hive is a unique cryptocurrency that combines content creation, social interaction, and decentralized governance to create a thriving ecosystem.

Discover
Hive
We give you the tools to invest your time and money in 1000+ tokens.
Subscribe

Hive's strengths

The token Hive (HIVE) has several strengths that make it an attractive investment opportunity:

  1. Decentralized Governance: Hive operates on a decentralized governance model, ensuring that decision-making is distributed among the community, preventing any single entity from controlling the blockchain. This is achieved through the staking of HIVE tokens, which allows users to participate in voting for witnesses and proposals.

  2. Inflation Mechanism: Hive has an inflation mechanism that rewards users for holding HivePower (HP), which is staked HIVE tokens. This means that the more HP a user holds, the more they will earn through inflation, providing a passive income stream.

  3. Scalability and Speed: Hive boasts fast transaction times, with blocks confirmed in under 3 seconds, making it suitable for high-volume transactions. Additionally, its scalability ensures that it can handle a large number of users and applications without compromising performance.

  1. Free Transactions: Hive offers free transactions, which is a significant advantage compared to other blockchain platforms that charge fees for transactions.

  2. Community-Driven Development: Hive has a strong community of developers and users who contribute to its growth and direction. This community-driven approach ensures that the platform is constantly evolving to meet the needs of its users.

  3. Decentralized Hive Fund: Hive has a decentralized fund that allocates a portion of new tokens to support community-driven development projects, further enhancing the platform's decentralized nature.

  1. Content Monetization: Hive allows users to monetize their content through upvotes and rewards in the form of HIVE tokens and Hive Dollars (HBD), providing an incentive for creators to produce high-quality content.

These strengths make Hive an attractive option for investors looking for a decentralized, community-driven platform with a robust ecosystem and passive income opportunities.

Hive's risks

Hive Blockchain Technologies (HIVE) has disclosed several financial risks that can impact its business and stock performance. These risks are categorized into various groups, including finance and corporate, legal and regulatory, macro and political, production, tech and innovation, and ability to sell.

Finance and Corporate Risks
  • Financial and accounting risks: Risks related to the execution of corporate activity and strategy.
  • Risks related to financial performance: Fluctuations in revenue, profitability, and cash flow can affect the company's financial health.
  • Risks associated with capital management: Managing debt, equity, and cash reserves to ensure liquidity and solvency.
  • Risks related to mergers and acquisitions: Integration challenges, cultural differences, and potential financial losses from failed deals.
Other Risks
  • Legal and regulatory risks: Compliance with laws, regulations, and industry standards to avoid fines, penalties, and reputational damage.
  • Macro and political risks: Economic downturns, political instability, and changes in government policies that can impact the business environment.
  • Production risks: Disruptions in supply chains, manufacturing processes, and logistics that can affect product delivery and quality.
  • Tech and innovation risks: Failure to adapt to new technologies, cybersecurity threats, and intellectual property theft.
  • Ability to sell risks: Difficulty in marketing and selling products or services, leading to reduced revenue and market share.

These risks are important for investors to consider when evaluating Hive Blockchain Technologies as a potential investment opportunity.

Discover
Hive
We give you the tools to invest your time and money in 1000+ tokens.
Subscribe

Did Hive raise funds?

Discover
Hive
We give you the tools to invest your time and money in 1000+ tokens.
Subscribe

Hive’s team

  • Frank Holmes: CEO and CIO of U.S. Global Investors, and Executive Chairman of HIVE Blockchain Technologies, contributing to the company's vision and strategy.
  • Aydin Kilic: President and CEO of HIVE Digital Technologies, bringing expertise in cryptocurrency, capital markets, and real estate development.
  • Gabriel Ibghy: General Counsel of HIVE, with extensive experience in cryptocurrency mining, data center construction, and operations management.
  • Darcy Daubaras: CFO of HIVE Blockchain Technologies, with over 25 years of experience in corporate accounting and public company service.
  • Susan McGee: Director of HIVE, serving on various boards and committees, including the SEC's Asset Management Advisory Committee.

Whalee AI

The fundamental analysis assistant for crypto value investors.

Hive NEWS REPORT

Latest news

Want an analysis of Hive? Tell us on discord.

Help us improve!
Tell us what you think of this page and which features you would like to see next.
OPEN FORM