Coinmarketcap writes that “Hive is positioned to become one of the leading blockchain technologies used by people around the world.” The reason for this sentiment is not hard to see. The Hive blockchain is fast, scalable & ‘feeless’, making it the right Web3 ecosystem for social media networks, games & a host of other applications.
Hive.io has multiple “Frontends”, built by groups of engineers, & all these apps are run by “peers” & distributed on the blockchain. Additionally, all these apps are “owned” by the users who create Content or interact on various platforms to add value to the community economy. Users earn directly from their contribution, but also by “staking” Hive on the system.
Hive claims to be an innovative & forward-looking decentralized blockchain & Web3 ecosystem, designed to scale with widespread adoption of the currency & platforms in mind. Thousands of developers are currently working on building social networking experiences, games, financial Dapps & countless other Dapps.
Hive, the Web3 ecosystem, is built on a Delegated Proof of Stake (DPoS) system & as a result it supports a host of social applications.
The Dapp is available on mobile (iOS, Android) & the Web. The app serves as both a Hive wallet & a social network. Users earn on the Dapp by posting Content, blogging, commenting & voting on other user’s content. The app boasts 600K unique visitors/month. There are 4 tiers of earning potential on Ecency users earn a combination of HP, HBD & points.
- Ecency points: These points are distributed exclusively through this Dapp & can be used to promote Content on the app. Every action on Ecency results in earning points. The points carry a dollar based value (US dollars)
- Hive: This is the liquid cryptocurrency issued by the Hive blockchain & can be converted into fiat (ordinary currency). The value of HIVE is currently around $1.5
- HBD: This is the Hive-based dollar. It’s meant to have an equal value to the US dollar ($1 = HBD1)
- Hive Power: Hive Power allows users to interact with the Hive blockchain & can be converted to Hive
Average users are earning around $100/month, with top creators earning around $60-100/day.
A Dapp aimed at minting, selling & buying NFTs. The Dapp is phenomenally popular due to Hive’s low transaction fees. (NFT creation costs 5 SWAP.HIVE + 1 SWAP.HIVE per edition. NFT Showroom collects a 10% commission.) (1 SWAP.HIVE = 1 Hive).
Similar to YouTube, except that users earn directly for their Content, votes & views.
NFT Card-based battle game with amazing Hive user support. This is a “get-paid-to-play” game with its own in-game currency. Users can buy “land”, powerful cards & more from the game’s marketplace. Some users are reporting earnings in excess of $2000/month.(PS: this is a risk based game)
Buy & sell NFT Hive Punks. 10000 punks were originally generated via the app. All were sold in a matter of hours. The rarity of each punk’s computer generated attributes contributes to its value.
There are many other Dapps (over 126 projects have been built by the Hive community) & they are increasing daily.
Another initiative by Hive is Tribaldex, which allows individuals & organizations to write Smart Contracts to the Hive & create community (tribal) based tokens. This platform offers users the opportunity to engage with Hive without writing a single line of code.
Image credit: Hive
