Hive Coin: Everything You Need to Know About Hive Cryptocurrency

With blockchain technology taking the finance sector by storm, it has proven to have a bright future and has now been embraced by the world at large. The technology continues to grow with many altcoins being created offering different services and targeting the web 3.0 future.

One of the coins to watch out for in the next decade is Hive Coin as it targets to be the future of web 3.0 and has grown its community over the past few years. Hive can be traded on many different exchange platforms and has been accepted for wide-scale market adoption.

What is Hive Crypto

Hive is a one-of-a-kind decentralized blockchain and ecosystem with a vision of building a gap between traditional capital markets and the emerging blockchain and digital currency sector. With a focus on mining and sale of digital currencies, Hive Blockchain Technologies became the first publicly traded crypto miner listed on the Toronto Venture Exchange in 2017.

What makes Hive Crypto a coin to behold is their green energy-powered data centre facilities in Sweden, Canada, and Iceland where they only source green energy to mine both Bitcoin and Ethereum. This has made it possible to lure high-end investors who want a safe environmental space to mine cryptocurrencies in contrast to previous mining models that used a lot of electricity and were considered unsafe for the environment.

Hive Coin (HIVE)

Hive coin is the future of web 3.0 as they have the vision to be the first decentralized platform that purely mines cryptocurrencies in safe environmental parameters. As Hive coin continues to grow by developing new features and developments, here are some of the features that make it stand out

Key Features

• Fast

Hive Coin has invested in high-end technology to make transactions fast and secure with an average of 3 seconds per transaction. It is one of the fastest decentralized networks of its generation.

• Powerful

As many other cryptocurrencies emerge, none can compare to the power of Hive coin which has been tested by hundreds of apps, projects, and communities around the world for 5 years.

• Low Operation Cost

Hive Coin has made it possible to operate at a high scale for its users because of its low operation cost. It is also located in politically stable jurisdictions i.e Canada, Iceland, and Sweden which makes it favourable in the eyes of investors.

Hive Dollar (HBD)

Hive Backed Dollar is a stable coin used in the hive blockchain. It is “backed” by the ability of the Hive network to convert $1 worth of Hive and to maintain a healthy Hive Economy, there are restrictions that govern its creation.

Here are some of its features:

• Low-entry barrier

HBD has low entry barriers that have made it easier for user adoption and market scalability.

• HBD market capitalization

To maintain a healthy Hive cryptocurrency economy, HBD is governed and cannot be below 10% of Hive’s total market cap with a total of 4,609,895 in circulation. This has made Hive trusted by its users.

Hive Ecosystem

There are two classes of the Hive network that are, the Hive currency and Hive Backed Dollar (HBD) which both play a vital role in the Hive ecosystem.

HIVE token

This is a native cryptocurrency of the Hive blockchain and exists in two forms: Hive coin and Hive Power.

Hive power is available to stakes after a certain amount of time “vesting period” in a process called “power-up”. After the Vesting period is over the Hive Power can be converted back to liquid tradable Hive coins in a process called “power down”. However, the Hive currency is tradable and can be sold, bought, or gambled.

Hive crypto is scalable, meaning its storage system and resource bandwidth are future-proof as the network is built for web 3.0 making it fast with a 3 second transaction time.

The Hive community has contributed to many apps and projects. Some of the applications and communities that make use of the Hive network include:

• Games
• Non Fungible Tokens (NFT)
• Decentralized Finance ( DeFi)
• Video
• Tools

Hive Wallets

The Hive wallet address opens doors to an ecosystem of blockchain-based opportunities which include expanding potential clientele, a thrilling and fantastic social network, and other innovative features that come with the Hive Crypto Network.

Hive allows its users to use simple words like your name, favourite movie, or pets as their Hive wallet address, unlike other crypto platforms. This has made it fun for the users who don’t shy away from being as unique and creative as possible.

Hive wallets are a straightforward method to transfer tokens and are cheap to use. What makes it even better is that a Hive wallet address can be used as a social media account on a plethora of social media applications and account names in Hive-based applications.

Hive crypto now offers numerous community-owned and open-source wallets that are available in Windows, Linux, macOS, web, iOS, and Android.