NEWBIES INITIATIVE TASK5// TIPPING AND TRIBAL TOKEN AND BESWAP TUTORIALS
Hello everyone, it's a pleasure to be participating in this huge program of the Hive Learners Newbiesinitiative, this program has brought alot of knowledge about the hive blogchain and has been an interesting one so i'w not be tired of giving a big kudos to the organizers.
This is my participation for the fifth task of the program and on this one we would be talking on tipping and mining tokens and how they can be converted to hive, i'w be bringing answers to this question to the best of my knowledge and i'w make sure I do it in a more understandable way, so let's get it.
1. First Question
How is swap.hive different from hive.
This will be alot easier if we understand them before finding out their difference.
Hive is a crypto currency which is the native blogchain token on hive, it's the liquid currency of the blogchain and can be converted and traded for other currencies.
After knowing what Hive is, swap.hive is a second layer hive token basically used in exchange or for the trading of the second layer tokens also known as the tribal tokens, this secondary tokens can be traded for the native hive but tye process requires that it be converted to swap.hive and then to hive so swap.hive is a secondary token on the hive blogchain.
Hive is the native currency of the hive blogchain while swap.hive is a second layer token essential in the converting of eaither hive to second layer tokens or from second layer tokens to hive and then to any other currency.
2. Second Question
Mention two examples of tipping tokens and and state two abuse of the service with practical exercise.
First of all, Tipping tokens are tokens that are gifted or that can be given but we must understand that before the are gifted, there are principles that must be taken such as;
For the tipping tokens we have LOV token and PIZZA token, let's take an example with the LOV token, before you gift another hivian one LOV token you must have 10LOV token in your wallet so to command the token requires you to have stored in your wallet more than 10LOV token, see the diagram below 👇
Ways they can be abuse
Self tipping is one of the ways the service can be abuse, it's an offense that is not taking likely by the hive authorities, it's more like self upvoting or self promotion, it gives the impression of trying to cheat the system so it's not accepted on the blogchain.
Another way the system can be abuse is by making arrangements with another hivian to gift yourself, it's also cheating the system and itsbnit accepted in the blogchain.
3. Third Question
Convert 1.1 hive to swap.hive and convert it back to hive.
For this transaction there's need to download the hive keychain app on your mobile, it's the method that I will used for the transaction.
After lunching the app on your mobile, go to browser and then paste the link below
It will take you to the beswap page
Them you click on the Three dot as shown below 👇
And click on the login
Then put in your username and click on login with keychain
After the you've logged in your account, then click on convert
Automatically the beswap setting is from swap.hive to hive so I clicked on the double reverse arrow inorder to change the setting
For this takes we were ask to convert 1.1 hive to swap.hive so I imputed 1.1 hive and it gave me 1.09725 swap.hive and so I clicked on convert and then confirm and then it was converted.
And then I received a notification for the successful transaction.
To convert it back was quite not hard as I had already logged in my account
I clicked that same double reverse arrow to change it back to swap.hive to hive and I imputed the amount it gave me when I first wanted to convert 1.1hive, 1.09725 was the amount and so I clicked convert and confirm and it was successful.
Alright guys, that's all for now thanks for reading my post, see you in the next task.
image were taken as screenshot from my mobile phone, edited through Canva and Inshot