What are Resource Credits?
Definition:
Resource Credits are non-transferable credits given to each account based on how much HivePower it has, which get “spent” whenever a user transacts with the Hive blockchain.
What is the purpose of Resource Credits on the Hive Platform?
They are a form of currency you spend to enact or perform transactions on the platform.
What are Transactions?
They are votes, comments, transfers and power ups. You pay or expend Resource Credits when you perform transactions or interact with the Hive platform. Each transaction costs Resource Credits. If you have enough resource credits to cover the cost, you can perform the transaction. If you don’t have enough resource credits you get an error message telling you that you are unable to perform the transaction or interaction. You should also be aware that the cost of transactions varies depending on factors that effect blockchain perform and the available supply of resource credits.
Commonly asked questions:
How do I get resource credits?
Answer: You are given a certain amount of resource credits in direct proportion to how much Hive Power you have. You need at least 15 Hive Power to be awarded any resource credits.
If I spend all my resource credits, do I have to buy more?
Answer: No, resource credits regenerate each day by a certain percentage, which is believed to be 22% and it takes 5 days to fully regenerate your entire allotment from zero.
Can I buy resource credits?
Answer: No they can only be given to you buy Hive when you buy power up Hive as HivePower.
Can I give my resource credits to others?
Answer: No, these tokens are non-transferrable, they are attached to Hive Power. But you can delegate part of your Hive Power and the resource credits go with the delegated Hive Power.
How much do transactions cost?
Comments; 1,570,000,000
Votes; 282,000,000
Transfers; 259,000,000
Powerups 259,000,000
Knowledge is power, keep learning.
✍🏼 Written by Shortsegments
