The Blockchain & Hive Blockchain in perspective, The incontestable PoW For Web3

There are so many different scholarly views in the explanation or definition to Blockchain technology. These different meanings to Blockchain might be complicated to the novice of the Blockchain. So I normally explain Blockchain technology in simple terms which can easily be understood by everyone.

Let's for instance compare the Blockchain technology to the Central Banks, Local Banks or any Business company who makes distribution and render services to people. In Such operation system like Banks, there are numerous third party systems who carry out most of the activities like queueing the details of the individuals credentials manually, getting access to know a lot of information about the individual like his account numbers and certain things which needn't to be disclose. In the Central Banks or Locals Banks due to the inception of digital networks most of them lately use mobile Banking which is making their way gradually turning into Blockchain technology. At first individual customers have to be present at the Bank premise forming queue to make transactions. This as a result delay the process for many hours before clients can execute their transactions.

I believe this is quite stressful and similar to a big whole sale cold store company shop who makes distribution of fishes to retailers to be sold to consumers. The cold store doesn't have mechanisms to get the fishes reach to the destination of the retailer unless the retailer comes there in person, join a long queue, wait for couple of hours,go to the cashier pay for the quantity of fish he would require, see the distributor before the fishes are being packed for him.

All these stresses are solved by Blockchain just some few seconds. So one would ask, how? That better explains why Blockchain differ from other centrally operating system where there is third party involvement. So Blockchain is a large spectrum of distribution of network with many blocks which involves many people for one particular transaction. These network of people have unique hashtags or code that identify them. An example is peer-to-peer network of services at Binance which chunk of people are enrolled to make their transactions. For instance, a user may execute transactions of withdrawal from USDT to his fiat. The transaction is between the user and the Agent Binance peer. After inputting all your details for example for sell to your Binance peer, your fiat would be paid for you to release the crypto (USDT) for your peer. This take place in few second in comparative your local or central Banks. Secondary, there is no individual physically present. What we have to bear in mind is that Blockchain is immutable, meaning information that have shared can't be removed. It can be traced for many years even if you quit that transactions.

Many has been shared on Blockchain as general term. Let's quickly hop into what is meant by Hive Blockchain and how it operates. Hive Blockchain is a cryptocurrency mining site with lots of network of people who are passionate about blogging ( sharing blocks of content) to be rewarded. As I explained, the network of people who are users of Hive Blockchain are idenfied by unique hashtags which are only known to the individuals; what we called Hive password. When it's published during transactions it's only be coded by the Hive network so that transactions can be executed. Hive is fast meaning it takes few seconds for transactions to be validated either being contents or upvotes. It's scalable and powerful, lately with the introduction of Web3 empowering Hive one can share content, comment and own his own article after publishing.

So most of the obvious activities all novice should know on Hive is creating content, curation (upvoting) commenting and giving feedbacks, we can also make transactions through transferring Hive Tokens from Hive wallet to another Hive users that's with Hive Blockchain. In the same way transactions can be done outside Hive Blockchain. For example, Hive Tokens can be transferred from Hive Blockchain to other exchange platform like Binance, Blocktrade, Huobi and Bittrex for trading.

Hive Blockchain differs from many other Blockchain and other social networks in terms of Hive being Decentralized Blockchain which no single individuals owns it. It's no monopolistic venture of company one Boss could boast of and commanding individuals who are his subordinates This is obviously a fair deal and benefits every individual is really happy about it. With the introduction of Web3 for Hive individuals content creators can own their own content that they have created. Hive isn't also getting rich quick on like Sponzi scheme where you can pump money there and get Roi returns of 1000% within a space of time. Hive believe in long term inputs of work for outputs. We believe in Proof Of Work (PoW), originality of contents to increase the credibility of Hive Blockchain. So we value every information that we share. Despite be censorship free also means that Hive doesn't countenance and dubious showcase of work like plagiarism and abuse of work or any cheap way to scam the system. This has made the Hive name reached a great height and we continue to improve the good work.