Mute is one of the social features that Hive have (most Hive frontend DApps honor muting).
Any account can build a list of other accounts that don't want to see the account鈥檚 posts and comments. A list of muted accounts can be followed by other accounts, which means anyone following a mute list will not see posts and comments of all accounts inside that list.
There are not so much story, explanation, theory about mute feature, is a tool that anyone can use and like the name say, to not see/read someone around Hive. I admit that it can be a very useful and healthy tool for those who suffer from some kind of bulling, for example.
Out of curiosity (or for any other reason), if you want to know if you are muted by someone just leave a comment.
To finish I want to say hello to all accounts that have muted me 馃榿
Hello 馃憢馃憢
Actually, you're not missing anything important 馃槣