Creating Content on the Blockchain Part 10 -- Native Coin & Tokens

This post is part of a series I’m building to help beginners on Hive learn the basics. My goal is to help you to get a base to build on your time on the platform.

Covered So Far

I’ve created an index post showing what is covered in each part of this series.

Visit the Index to review what has been covered.

The Native Coins

I’ve already talked about Hive, Hive Power (HP) and Hive Backed Dollars (HBD) but let’s just do a brief review.

Hive when staked becomes HP which grows your influence on the platform. The more HP you have, the higher your upvote will be. Your HP also earns interest as set by the Consensus Witnesses. It’s currently 2.88%.

To convert your HP back to Hive you need to ‘power down’. A full power down takes 13 weeks. You’ll receive weekly amounts during that time.

When HBD is paid out to you it is liquid like Hive is. Both Hive and HBD in liquid form earn no interest. If you move HBD into Savings it will earn 20%.

It’s a good idea to put liquid Hive into Savings even though it wont earn interest. Your Savings takes 3 days to be available for withdrawal. If someone manages to get into your account, they wont be able to steal your funds right away and you’ll have some time to get your account back.

The Hive Engine

Did you know in addition to earning HP and HBD you can also earn other tokens? Tokens that are traded and used on the platform. Some will build value over time, some wont.

Earning them is easier than you think.

They are called layer 2 tokens and are found in the Hive Engine.

Many of the projects running on Hive have tokens available for you to earn.

Remember I told you about DreemPort where you can curate content and then submit your own content to be curated? If you have a Hive account, you will earn DREEM tokens.

Many of the tokens were created to be earned when you post in their own frontend. There are many available so I wont try to list them all here. When you’re leaving comments, watch for a note on posts like “Posted from xxx” with a link to that frontend.

Remember, you can always use your Hive account to login.

When you post through the frontend, the upvotes will show values based on the token attached to the frontend.

Proof of Brain

I’m using Proof of Brain as an example here of the different ways you can earn tokens. Proof of Brain is a general topic frontend/token meaning you can use it for any post you publish.

If you were posting through Proof of Brain, the value on your post would be calculated in POB tokens. At the end of seven days when the posts pay out, you can look at your wallet on the POB frontend and see the POB you earned and it will show you your Hive.

The POB is actually stored on Hive Engine

You can earn POB by posting into their community or simply using POB or PROOFOFBRAIN as a hashtag on your post.

Using Hashtags To Earn Tokens

If you recall when I talked about using tags on your posts to put them into the correct categories, I mentioned putting the categories in the first five tags.

On most frontends you can use more than five tags. You put the topics or category tags where you want to be found first. The additional tags will let you add takes like for earning tokens.

There are several tags like POB that can be used on most posts like NEOXIAN, PALNET, VYB etc.

If you look at tags others use you can start to learn about more tags.

BUT, just because you see a tag, don’t just start using it. Some tags have a specific reason for use. Using them wrong can earn downvotes.

TravelFeed

Some frontends are specialized. Travel Feed is an example of this specialized content. The posts there are dedicated to travel and the only kind they would accept into the frontend and the related community.

If you’re posting on a frontend like PeakD you can use the tag TRAVELFEED but I really suggest you at least subscribe to the community and post in the community.

Tipping Tokens

Some tokens are shared by people who hold some already leaving a comment with a tag to distribute tokens through comments. For example a popular one is the Pizza tag.

A person who holds enough to be able to share leaves a tag like !pizza and you or the person they are leaving the comment to will receive them in Hive-Engine.

They can be a lot of fun to get and to tip with.

Wrapping Up Today

Tokens are a great way to build up your crypto earnings. Most of the projects distributing tokens are still working on building up the use cases and the value of the token.

Some want you to stake them.

Check Hive-Engine regularly and explore the tokens that interest you. There is an info button on each token that you can start exploring from.

Tokens can make it feel like you’re earning stacked rewards. Because you are.

Shadowspub is a writer from Ontario, Canada. She writes on a variety of subjects as she pursues her passion for learning. She also writes on other platforms and enjoys creating books you use like journals, notebooks, coloring books etc.

Would you like to receive writing prompts every day? You can subscribe to Prompt A Day to get started.

Share your posts by joining us on the DreemPort Discord