What is Hive - A short guide to get you started

Hello friends.

As you know, in my posts, I wish to either educate or entertain you - and of course myself with our interaction.

I decided to write another post about Hive Blockchain, because I am receiving a few questions and I wanted to shed some light to your queries.

Why you should read my post? Because I have been with Hive since its birth in 2020. I am a proud, very proud member of this huge web3 community.

Is it perfect? Nothing new is perfect. But it is a community that has visionaries, people believing in people and in the real meaning of web3. Freedom, Independence, Empowerment.

Let me share more information below:

So, What is Hive?

Simple. Many many people together in a community, doing various things, all of them using the same technology. Hive Blockchain.

What is Blockchain? (simplified) Think of a database, where every piece of information is secure, immutable (not possible to be modified) and publicly available. To everyone!

So, what do the hive users do?
*They write posts and comments, they upvote (like) or downvote, they earn or reward other with the hive token, they play games, they communicate etc

What will you earn if you sign up and post on hive?*

Users earn $hive and $hbd (layer 1 tokens) or various layer 2 tokens depending on the community they post in.

All the tokens can be swapped to each other, and the main token, $hive can be sent to certain exchanges (i.e. Binance) and then be swapped with other crypto or with $. There also apps (changelly, SimpleSwap etc), where you can simply send $hive and it will be swapped with another crypto to be sent to the wallet you set it (i.e. Metamask or any other)

If you do not have any experience with crypto, this part will take some time to learn and to execute. You may also need sometime until you earn enough $hive to be able to swap it.

An example:

In this post, we see that it earns in total: $6.8 in $HBD and same amount in $HIVE (50% + 50%), also a layer 2 token which is $leo

From the total amount of $13,87–50% goes back to the people who upvoted (liked) my post - because this amount comes from the total of users who upvoted me.

Also, the 50% of the amount I receive will be in 'liquid' form - which means I can do whatever I want with it, while the rest 50% will become Hive Power. (more on this in a bit)

More about Hive Rewards

Every few seconds (3 to be accurate), an amount of $HIVE is created and put in the reward pool. (More information and technical information is found in the whitepaper)

Every action a user does in the blockchain (i.e. upvote) is equal to a certain amount of reward. This is based to too many factors to mention right now, but the most important is the amount of Hive Power that a user has staked.

For each post/comment, their rewards are finalized exactly 7 days after their creation.

(Simply, when a post is rewarded, the amount is removed from the reward pool and goes as follows: 50% to the curators (the users who upvoted) and then 25% to the user as liquid and 25% as hive power)

Can you get rich from hive?

You get paid/rewarded to post there, that's for sure. But there are some requirements.
If you simply post and wait to be seen, it may not happen. You should also interact and communicate with others.
Your post should be original (if posted in another platform, you should always mention the source). You should not pretend you are someone else.

It can take time.

You will need to get familiar with the platform and with how it works.

There are also mechanisms for spammers, impersonators to prevent spam and fake content. There are a lot of different communities where users can write specific topics and follow specific guidelines (i.e. travel, finance, photography, gaming, etc)

You can take a look at the communities here: https://inleo.io/communities

Why is Hive different?

Hive blockchain allows you to enter the web3 world in a very easy way. You use a block chain to do a variety of normal actions, such as blogging, commenting, gaming etc. and you are rewarded for that!

Users can also create their own communities, they can even create their own layer 2 token (this is a bit more technical, so please note that certain skills are required to do those)

In Hive there is transparency in everything.

When I make a post, I can see who upvoted / downvoted my post, I can also see that for every other post. All information is available for everyone.

Also: Hive is owned by NOONE. It is owned by all its users, who vote for witnesses (they are the ones who keep the blockchain running)

This is called Delegated Proof of Stake

You get a whole web3 identity with a new account. Your username is also your wallet address! You own your own data and no one can do anything with it!

A few basic knowledge you need to start

Make sure you know more about the importance of your keys.

Upon sign up you will receive your account keys, which you should be very careful with.

You are the only person responsible for your account, there is not (an easy) recovery process.

Hive provides to its every user some RC (resource credits) every day (analogue to their Hive Power) so that they can post and do other transactions. If you are new, you may not be able to perform many transactions the first days.

What you can do?

You can find someone to lend you (this is called delegation) some Hive Power or you can go to this free website and get some of your own

How to sign up?

I have written a guide about how to sign up with inleo (using your G or X account)
Tutorial: How to create a free hive/inleo.io account

You can find more options here: https://signup.hive.io/

Why join hive?

You take the first step to web3.

You have nothing to lose, only to gain.

It will be a brand new experience that will open new paths for you.

I can think of a thousand other reasons, but this will create a huge post - and that was not the scope.

You can see what some of the users think of hive in this post of mine

https://twitter.com/katerinaramm1/status/1459480152296067074

How to start?

Think of a username to use, it cant be changed after you create it.

Make sure you have a way to back up the keys you will have access to.

Sign up.

Get some free HP by gift giver

Prepare an Introduction Post, it is important to show that you are a real person. Read some of the most successful introduction posts here

Take time to observe, to learn how things work. Familiarize yourself with the different front ends (inleo.io - peakd.com - hive.blog - ecency and more)

Then, the whole world is yours to create and to discover!

Check out this tool that you will certainly need and will make your life easier: https://hive-keychain.com/

I would like to ask feedback by @learningpages and by @revolverocelotyt who are new to hive and they may want to share some of their challenges!

Thank you for stopping by!

Posted Using InLeo Alpha