Hive is a Decentralized information-sharing network with an accompanying blockchain-based financial ledger built on the Dpos (Delegated-Proof-Of-Stake) protocol.^[1]

Hive is a cryptocurrency for an open source social media blockchain. It was conceived through a hard fork of the original Steem blockchain after a group of the community decided to split and form their own chain.  Hive supports many different types of information sharing applications.^[2]

Myriad dapps, APIs and front-ends contribute to a general and straightforward accessibility of data, transactions and records, so that this existing diversity and utility ensure that the ecosystem is welcoming to content creators, consumers, investors and builders.^[3]  

Overview

Hive is an innovative and forward-looking Decentralized Blockchain and ecosystem built on the @Delegated Proof of Stake (DPoS) protocol . It is the first highly-scalable DPoS Blockchain independent of central authority that addresses the problems of mass adoption and versatility of use.^[2]

Hive allows the easy storage and retrieval of immutable strings of data and information. It sports three-second zerofee transactions and is designed to store vast amounts of content and to make it available for time-based monetization.^[1]

Hive recognizes that transaction fees are often one of the largest challenges to facilitating development and flexibility of use on a Blockchain. Instead of requiring potentially costly and inconvenient transaction fees, Hive uses a novel stake-based Resource Credit mechanism to create a fee-less model.^[3]

Hive also aims to overcome mainstream adoption shortcomings in Blockchain technology and content publishing by improving on their accessibility. It leverages the coined Proof-of-Brain (PoB) concept by distributing a portion of the inflation to content creators and consumers. To earn without financial investment, individuals partake in a wide range of activities. These include blogging, participating in discussions, curating others, building and engaging with dapps, playing games, and more; their limits are only constrained by their own imagination to further the decentralization of the system. All content is always readily-available on the Blockchain and retains its original integrity.^[2]

Since its inception, Hive has steadily grown as an ecosystem. Myriad dapps, APIs and front-ends contribute to a general and straightforward accessibility of data, transactions and records, so that this existing diversity and utility ensure that the ecosystem is welcoming to content creators, consumers, investors and builders.^[3]

Hive was created as an independent and decentralized fork of the Steem (blockchain) ]. As a community-driven fork, its intention is to continue the strong community values that have been established, while also freeing the ecosystem from the burden of Steemit Inc. and its disproportionate influence. While that influence had threatened Steem’s Decentralization since its inception in 2016, it was kept in check by the means of a social contract. Following the sale of Steemit Inc to Sun Yuchen of the Tron Foundation In February 2020, the exploitation of this influence and loss of confidence in the continued viability of Steem ultimately led to the creation of the Hive (blockchain).^[3] 

Features

Fast:

Transactions take less than 3 seconds

Scalable:

Future proof resource-bandwidth & storage system.

Powerful:

Battle-tested for 4 years by hundreds of apps, communities & projects around the world.^[2] 

Hive technology and scalability

Hive’s support for high transaction volumes, combined with its fast 3-second block times and fee-less transactions, make it an ideal platform for building highly interactive applications that would bog down on most Blockchain networks. It also has a unique focus on a 2nd layer architecture for distributing application loading across distinct Side-chain to enable scaling beyond the limits of traditional smart-contract networks. To mitigate scaling limitations, an application’s proponents can allocate additional CPU resources as needed at the second layer to power their preferred applications, without worrying about congestion from other apps in the network, yet still benefit from a common first-layer Blockchain backbone to ensure distributed data integrity. This scaling ability also enables a unique competitive landscape for applications developers.^[2]  

Hive governance and software development

Hive was founded by a diverse group of community members, developers and investors who believed in the common goal of decentralization. There is no set team and no company behind it. Hive is not based in any specific jurisdiction and has nodes, stakeholders and contributors in many countries all over the globe. Hive relies on decentralized governance, both for software development and for decisions about protocol upgrades, employing the DPOS consensus protocol. Stake-weighted voting is used to elect block producers known as witnesses that must agree to enable changes to the 1st layer protocol shared by all applications, providing a stable base layer, while leaving 2nd layer applications free to innovate rapidly. All protocol changes are proposed, developed, prepared for and implemented through a transparent and collaborative team-working environment. They are entirely open source from initiation to their final release. Hive (HIVE).(Launched on March 20th, 2020) is a Decentralized information sharing network with an accompanying blockchain-based financial ledger built on the Dpos (Delegated-Proof-Of-Stake) protocol. Hive is a cryptocurrency for an open source social media blockchain. It was conceived through a hard fork of the original Steem blockchain after a group of the community decided to split and form their own chain.  Hive supports many different types of information sharing applications. Myriad dapps, APIs and front-ends contribute to a general and straightforward accessibility of data, transactions and records, so that this existing diversity and utility ensure that the ecosystem is welcoming to content creators, consumers, investors and builders.^[1]