Hive
Crypto Overview
Overview
Hive is a decentralized social blockchain platform that emerged as a hard fork of Steem in March 2020. The platform serves as a foundation for decentralized applications (dApps) with a particular focus on social media and content creation.
Intended Utility
Hive's primary purpose is to serve as a blockchain-based content hosting and rewards platform where users can earn tokens for creating and curating content. The HIVE token functions as both a governance token and a means of value transfer within the ecosystem.
Actual Utility and Usage
The platform hosts several active applications including Splinterlands (a trading card game), PeakD (a blogging platform), and Hive.Blog (social media). On-chain data shows consistent daily activity with thousands of active users creating content, commenting, and participating in the ecosystem.
Token Distribution and Economics
The initial distribution of HIVE tokens was based on a 1:1 snapshot of STEEM holdings at the time of the fork, excluding certain accounts associated with Steemit Inc. New tokens are created through inflation, primarily distributed to content creators and witnesses (block producers) who secure the network.
Development Activity
The platform maintains active development with regular updates to core protocol and second-layer applications. Github repositories show consistent commits and improvements to the ecosystem's infrastructure.
Revenue Model
The platform operates on a proof-of-stake consensus mechanism where token holders can power up their HIVE to HIVE Power for increased influence and rewards. The model does not involve traditional interest or riba-based mechanisms.
Crypto Impact
To assign a comfort level investing in Hive from a halal perspective we need to determine whether it has a net positive or negative impact.
Towards this end, the table below is used to tally all the positive and negative considerations our members can think of related to Hive.
If you don’t see something that should be listed, positive or negative, feel free to submit your own contribution using the button “Contribute”.
We will review your contribution for accuracy before publication.
Importantly, you can review listed contributions and vote on which one you think has the greatest impact, positive or negative.
You only have one vote per asset so use it wisely.
You can change your vote if you change your mind.