What makes Hive different from other cryptos?

in BDCommunity3 months ago

Cryptocurrency holds a vast meaning to it. There are different perspectives about crypto in between people. As of today, some entities/people see it as an abuse to the current system while on the other hand, some see it as the savior of the future by bringing salvation to the economic system as of today. Cryptocurrencies are volatile and history says it all. But beyond that, there are other truths that need to be considered when you are judging crypto or throwing any sort of comment on this matter.


There are plenty of cryptocurrencies in today's market. Most of them did not see the light of the day and disappeared in the wind and some even made scam and looted people from the flesh, which till now is having a bad effect on people's lives. But upon choosing the right crypto and making the right move at the right time, not only you can make your investment secure but you can also give value to your time which shall allow you to prosper in ways, which you never thought before.


Steem was my first community-based crypto which opened a huge opportunity for me. I had to leave my home (steem blockchain) just because some fraud entered into it and changed the course of it, ripping people's money in broad daylight. As of now, HIVE is where I belong and seeing the greater future for myself as a content creator or an investor.


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What makes HIVE so different?


HIVE, a Dpos Blockchain.

DPoS is designed as an implementation of technology-based democracy, using voting and election process to protect the blockchain from centralization and malicious usage.

In simple terms, it holds values to stakeholders. And it can be used to take decision on the chain. As such which determines the value of the chain and everybody has a saying in it.

The token Hive currently listed in position 84 in CMC. There are different activities that make Hive so much attractive and not only to the crypto enthusiast but also to content creators, Investors, Developers, Entrepreneurs, and such.


  • Dedicated Community :


I am not sure where you can find such a blockchain community that HIVE is built upon. A platform can be considered successful upon determining the userbase and the activities running on its chain. Genuine and authentic users determine the authenticity of the chain and those are to be found in Hive blockchain, where users are continuously working and developing their skills within the chain which is not only helping the chain but improving the personal skillset of users.


Your voice matters. The act of community has been seen by the blockchain world when we needed it. This act came from within the users giving their prior support to make their project survive in the past takeover on the Steem Blockchain. Which drove the user to implement and make sth better than what it was. The end result of it is what we know now as HIVE. Without a dedicated community, a platform can hardly survive and it has been proven in the past and a dedicated community allows it's users to see the success of that platform. Hive has what it need!



  • Earnings :


The next question that comes to the mind of users/investors is the VALUE of TIME. Earning potential is immense in the platform of the HIVE. The way It is Designed has given privileges to its users/investors to take the benefit from it. Among the several ways, these are the most basic ways that a person can earn from this ecosystem: A detailed post you can check here

  • Content creation : There are plenty of emerging platforms that are claiming to reward their users content, as they share their contents on specific chains, Hive has shown significant growth and allowing users to earn each and every day on the chain. Any user with creativity/not sharing their perspective in the chain can get earnings from others in terms of UPvotes. The more the value of upvotes the more the earnings.

  • Investors : When you earn/buy hive a user can stake the hive as HP and can regulate that HP to make an earning from that. Every day the power regenerates allowing the holders of HP to have an influence on the chain. For instance, I hold around 5.5k HP as staked in my account and I can vote with 0.10 USD worth to 10 people (with 100%) and the next day my power (Voting power) will regenerate every hour and will come back to 100% and the cycle goes on.

  • DApps and userbase :


Currently, there are plenty of Dapps on Hive Blockchain, which is focusing on making users experience a lot easier and allowing them to share their creativity with the whole chain of users. Be that it may blogging/vlogging/gaming, Hive has it all covered.

and many others. If the above DApps were probably on any other chain, the scenario would have been a lot different. How about when you create a post/comment on someone's post and every transaction is costing a specific fee for those actions. I doubt I will be supporting or be active on that platform under those circumstances.


Hive already has dedicated users and along with dedicated DApps, the scenario is changing for users in several ways.


  • Perspective of Transactions :


Almost all the cryptos charge a small fee while making a transaction. Sometimes these transaction fees go above than expected and it turns out to be a difficult situation to handle. The image below can demonstrate the difference between BTC/ETH/HIVE, in terms of the transaction fees.


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Another chart below to describe the difference :

CRYPTOTransaction feesTransfer Duration
BTC0.0005 BTC10-40 min
ETHstarting from $0.1413 min
HIVE$ 0.00less than 3 seconds

As a trader, I have to transfer cryptos from wallet to exchange or vice versa almost everyday and transaction fees are sth which I tend to avoid in every possible way. As when you add it up the sum of these transaction fees becomes quite a lump sum and sometimes gives a headache when you think about it. But HIVE is completely different in that regard. Transfer as much as you want in between wallets of users, no fees required, and is lightning fast compared to most leading cryptos in the market. As for BTC it takes a certain amount of fees for transferring and as the price of BTC increases the amount in $ also increases. The same goes for ETH, the more amount I want to transfer, the more GAS fees I have to pay, and the transfer duration depends on the amount I am paying for GAS fees.



  • Hodling HIVE


Now there is an additional benefit of HIVE in comparison to other cryptos. When I am holding specific crypto, let's say BTC/ETH in any wallet or probable exchange, it will stay idle in those places for as long as it is there. No additional benefits for HOLDING my precious crypto in anywhere. But HIVE has given the privilege for users to make the proper use of those tokens. Once you stake HIVE you have an influence on the chain. Currently, my 5k HP is allowing me to give out $0.10 upvote to different users every day. And in addition to that, I am getting APR on staking my HIVE. Of course, a user can un-stake them at any period after a certain amount of TIME.


  • To Improve your SKILLS


Interactions, gatherings, and improving are few of the skills that a person needs to get to know the world of crypto. All of it is available in HIVE. In most simple words, Hive has given the opportunity for fellow content creators/investors/developers and almost every day to get on board in the crypto sphere and allow themselves to improve as they keep on marching forward in their activities.


If all the above points do not attract you towards HIVE, than I probably have nothing else to say for you. It's time for you to DYOR!! You either sit back and watch others build their stats or you join HIVE and build one for yourself.


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Best regards
Rehan

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Wonderful bro. It was indeed a good read. You have covered almost all the information. The article is also structured very well. Cheers! !BEER

Excluded few more points to make it as neat as possible. Hopefully, it would be an easy explanation for users to go through. Thanks for the Beer bro, Cheers!!

That's nice. Looking good. 🙂

Excellent, and very in depth! Well done bro!

Thanks bro, tried to make it as simple as possible for users to understand.

Thanks you so much for this work done, you explained almost everything that make hive different from others crypto, job well done @rehan12.

Thanks, Ola, appreciate it : )

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