Hive
Crypto Overview
Project Overview
Hive is a decentralized blockchain and social media platform that emerged from a hard fork of the Steem blockchain in March 2020. The platform aims to provide a decentralized ecosystem for content creators, developers, and users to interact, share content, and earn rewards for their contributions.
Intended Utility
The primary purpose of HIVE is to serve as the native cryptocurrency of the Hive ecosystem, enabling content monetization, governance participation, and resource credits for network operations. The token is used for rewards distribution to content creators, curation activities, and powering decentralized applications (dApps) built on the Hive blockchain.
Actual Utility and Implementation
Hive demonstrates significant actual utility through its active ecosystem: 1) Content Creation and Curation: The platform hosts several popular dApps like PeakD, Ecency, and Hive.blog where users actively create and curate content. 2) Gaming and NFTs: Applications like Splinterlands, a popular blockchain card game, operate on Hive. 3) Resource Management: HIVE tokens can be converted to HIVE Power for increased influence and resource credits in the network.
Token Distribution and Governance
The initial distribution of HIVE tokens was based on a 1:1 snapshot of STEEM holdings at the time of the fork, excluding Steemit Inc's ninja-mined stake. New HIVE tokens are created through block rewards, with approximately 75% going to content creators and curators, and 25% to witnesses (block producers). There was no ICO or pre-mine for the Hive blockchain, contributing to a relatively fair distribution.
Development Activity
The project maintains active development with regular updates to the core protocol and supporting tools. The GitHub repository shows consistent commits and multiple contributors, indicating genuine technological development rather than just marketing efforts.
Revenue Model and Operations
Hive's revenue model is based on content creation, curation, and network resource allocation, avoiding interest-based mechanisms. The platform's operations align with Islamic principles as they involve actual value exchange and utility creation rather than speculative instruments.
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.