We are coming to the end of the month and we approaching the Hive Power Up Day(HPUD), for the newbies this is the day we power up our Hive to increase our Hive power. If you happen to be a newbie reading my post and finding out about Hive Power or HPUD, and you don’t know what that means, I will explain what they mean.
What Is Hive Power?
Hive is a blockchain social media platform, it’s a digital community where people interact. Just like our normal physical community, some people have power, this power can be called influence. Their power has value and can influence the choices they make. So Hive power can be explained as your influence in the Hive eco-system. The difference between Hive power and Hive is, Hive is liquid, which means can be converted to fiat instantly while Hive power is locked in the Hive blockchain. Their values are the same hence 1 Hive = 1 Hive Power.
How Do We Power Up?
Depending on which front end you are using, well if you are using the Hive.blog wallet front end you can power up like this:
Click on the down arrow
Then click on power up
You can do the same on @peakd and
@ecency. Just different front ends.
So now we know what Hive power and how to power up are, the next question should be why should we power up?
Well if you are going to be involved in a community you have to have influence and add value to the community. That’s why it’s a decentralized community, where everyone help each other in achieving their goals one way or the other. Your Hive power is what gives you influence to adding value to the blockchain. With your hive power your upvotes get value and your activities get value also. When you have hive power and upvote someone’s post, your value on that post will be based on your Hive power. The author earns from your upvote and you also earn from these upvotes you execute. The value of what you both earn from the upvotes is based on your Hive power. If you have a higher Hive power you earn higher.
This is a big win-win mutual relationship right here. This Hive power just don’t influence your curation and earning alone, it also influence your witness voting.
witness voting is choosing the people that you want to run the blockchain based on the skills they have or can contribute to the blockchain
So you have your Hive token locked in the blockchain and you earn more from voting without depleting your locked Hive(Hive power), and you also get an interest of 3.08% for locking your Hive.
So these are just your benefits for powering up, but do you know that doing so also means a lot to the community and to the blockchain.
This is why the first day of every month has been set aside for people on the Hive blockchain community to participate and advised to power up their Hive tokens. This is to show solidarity in your Home(Hive) and the support you have for your home. This is another way of giving back, even if you are not truly giving back, but it just shows support you have for the community. You can buy hive from different crypto exchanges and send them to your Hive.blog account and power up.
You can decide to power up your liquid Hive in your wallet rather than sell it, but it will be nice to the community if you participate, this is another way to help boost the price of Hive, when more people are buying and powering up and less people are powering down and selling, it will help boost the value of Hive. The next Hive Power Up Day is on the 1st of October that’s probably in the next two days depending on your time zone.