NEWBIE INITIATIVE TASK 5: All you need to know about tribe token, tipping/mining tokens and the use of Hive engine
Designed by @projectmamabg
Hello dear friends, this week has been a little hectic as I was on transit almost throughout. I am so tired and discouraged not to participate in the week5 task but I couldn't imagine the disappointment on the faces of my dearest TM #hopestylist and my irreplaceable teammates. So I had to strive very hard though the network is misbehaving but I must try my possible best to where I could.
Anyways, I've learned a lot through this initiative and can't seem to thank the organisers enough for all the efforts they are putting towards the success of the programme.
Mention 3 Abuses of the Tipping/Mining Token service.
In every organization there are always rules guiding the stability and smooth running.
Hive as a blockchain has some guiding rules which when broken it's regarded as being abused.
Tipping yourself is a way abusing the services and it happens as a result of someone who tipped oneself as a means of generating tokens for oneself by their self which is highly prohibited.
Having a fake account for the purpose of tipping yourself. Sometimes people create a fake account just to tip themselves however, nothing is hidden in hive as it can be dictated and it's an abuse.
Having someone to tip your account. Sometimes some users make arrangements with friends to tip them as they also return the gesture to generate and accumulate tokens which is very wrong
What is the difference between Hive and Swap.Hive
Hive can not be used to purchase hive engine token reason being that it is not visible the second layer token however, swap.hive is visible on hive engine token. Therefore, we can use it to buy other token.
Hive is a first layer token while swap.hive is a second layer token
List 4 Decentralized Exchanges on Hive.
Below is the list of decentralized exchanges on Hive.
- Hive engine (hiveengine.com)
- LeoDex (Leodex.io)
- Beeswap (beeswap.dcity.io)
- Tribaldex ( tribaldex.io)
Convert 1.1 Hive to Swap.Hive, and convert it back to Hive.
I couldn't have gone this far without the help of my darling teammate @geelocks who stayed awake almost throughout the night coaching me, making sure I get it right. You can't imagine my respect to you darling. God bless you for me.
The following are the process of converting 1.1 to swap.hive using leodex.io
First of all, I logged into leodex using Hivesigner and clicked on deposit as since in the picture below.
And I typed the amount I intend to deposit before clicking on deposit hive .
Then it took me to another page where I clicked approved to confirm the transaction.
And it was successful and I went to check through my hive account.
Converting my hive back to swipe.hive to hive, I went back to click on withdraw.
Then I copied the available balance and pasted on the total amount where I wanted to withdraw
Then I approved the transaction
And my transaction was successful
Though I encountered serious network failure that made my transaction stuck on the way but I am grateful to God the network came through and it seems the transaction is more simpler that I thought.
All the pictures were from my screenshot and thanks for taking your time to go through.