Hive (HIVE)

Hive is currently trading at $0.3060, after a price change of 0.80% in the last 24 hours.

Ranked as cryptocurrency #147 by capitalization today, HIVE market cap is valued at $150,794,641. HIVE trading volume reached $6,496,872 in the last 24 hours. We track cryptocurrency data live in real-time. Make your own forecast on HIVE coin price prediction page.

What is Hive?

Hive is a protocol for decentralized applications focusing on content distribution. The protocol supports big data use cases in social media, gaming, and identity verification. The platform was created as a fork of Steem after a split. The split was caused by a disagreement between the Tron Foundation and the Steem community when the former acquired Steemit app. Hive moved with most of the aspects of Steem while introducing new tokens in the process. 

Hive network is secured through a delegated proof-of-stake consensus. DPoS selects block producers, also referred to as witnesses, based on the weight of the staked funds. 

Hive Network is a dual token economy featuring HIVE and Hive Backed Dollars. HIVE is the native token of the platform that can be traded, while HBD is pegged to the dollar at a 1:1 ratio. HIVE can be in a liquid form called HIVE or in a staked format called Hive Power.

There are 401,241,654.73 circulating HIVE tokens from an equivalent uncapped supply. Hive conducted an airdrop of HIVE tokens following the fork to existing Steem addresses, except those associated with Tron, to cut off influence. Hive token issuance system, like that of Steem, features a token inflation rate of 8%, which decreases by 0.01% after every 250,000 blocks. The decrease will continue until an inflation rate of 0.95% is reached. Hive was launched in 2020.