Hope you all are well and enjoy your good health by the grace of God Almighty. As I have completed Stage 2 Task 1 in the Hive Learners community, I am now going to complete Stage 2 Task 2, which is about Hive and Hive Power.
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In fact, Hive Blockchain has three types of assets that can be earned, used, exchanged and traded. These are Hive, Hive Power (HP), and Hive Dollar (HBD). Let's discuss them one by one.
Hive is the largest token on the Hive Blockchain. This is the local currency of the Hive Blockchain, a so-called cryptocurrency that can be exchanged, stored and staked. Hive can be traded or exchanged on various exchanges such as Binance, Poloniex, Huobi Global, etc.
The only way to get a Hive token is by posting, commenting on the Hive Blockchain. Users can post standard posts on hive.blog and receive prizes in the form of Hive tokens that can be easily exchanged. In addition, people can trade Hive tokens for profit and good profits.
The Hive Blockchain is another local currency known as the Hive Dollar, or simply HBD, which can be converted into a Hive Token by an internal exchange of the Hive Blockchain.
Users can get HBD by posting, commenting on Hive Blockchain. Rewards given through up votes are actually in the form of Hive Dollars and these HBDs can later be converted into Hive Tokens.
Hive Power is not a cryptocurrency in itself, but is actually a stain of Hive tokens in Hive Wallet. Yes, stacking of Hive Tokens is called Hive Power or HP only.
HP can also earn in many ways such as commenting, posting and voting on other people's posts. Although this process of accumulating HP takes a long time, HP can also be enhanced through a process known as powering up. In the process, hive tokens are converted into hive power. Another way to increase HP is to buy Hive Tokens from an external exchange and then power them up.
There are actually three ways to get maximum hive power (HP). The methods are as follows.
As I told you earlier, we can convert HBDs derived from Hive blockchain internal exchanges into Hive tokens. The steps that are followed are as follows.
As I told you earlier, we can power up Hive tokens with Hive Power (HP) which is called Power Up. For that we have to follow these steps.