Hive
Crypto Overview
Purpose and Utility
Hive is a blockchain-based social media and content creation platform that emerged from a hard fork of the Steem blockchain in 2020. It operates as a decentralized social network where users can create, share, and monetize content. The HIVE token serves multiple purposes: content creation rewards, governance voting, and resource credits for blockchain operations.
Business Model Analysis
The platform's business model centers around rewarding content creators and curators with HIVE tokens. Users can earn tokens by posting content, engaging with others' content, and running witness nodes (validators). The model appears transparent and does not inherently involve prohibited activities like gambling or interest-based lending.
Real-World Adoption
Hive maintains active usage with several popular applications built on its blockchain, including PeakD, Splinterlands (a trading card game), and LeoFinance. The platform processes thousands of transactions daily, primarily related to content creation and social interactions.
Development Activity
The platform shows consistent development activity with regular updates to its core protocol. The developer community actively maintains and improves the ecosystem, with multiple teams working on various applications and services.
Token Distribution
Unlike many cryptocurrencies, Hive had a fair launch through the hard fork, with tokens distributed to previous Steem holders who supported the fork. There was no ICO or pre-mine, and no significant concentration of tokens among founders.
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.