Image made by @projectmamabg
My journey of learning more about hive through the newbies-initiative continues, I keep learning new things every day. Last week we learn about tokens, tipping and mining of tokens and how to sell and buy tokens.
In this post, I will be answering some questions for the 5th task for the newbies-initiative.
Mention 3 Abuse of tipping/Mining token service
Establishing a new account to tip yourself. When a person creates another account to be able to increase their tokens through tipping themselves. This is a fraudulent act and an abuse of tokens.
Collaborating with someone such as a friend to use tipping bot to increase tokens is considered an abuse of tokens.
Self-tipping through the usage If wrong tipping commands such as you writing a post and using the top command without this code ` in the front and back of the tip command. The tipping bot will recognize your command and result in you tipping yourself but with the code, it looks like this
!luvand the tipping bot won't recognize your command.
What is the difference between Hive and Swap.Hive
The main difference between hive and swap.hive is that Hive is the first layer and used for commenting, voting and other transactions on the blockchain while Swap.hive works with the second layer, the tokens. It is used for trading and swapping tokens.
List 4 Decentralized Exchanges on Hive.
- Leodex (leodex.io)
- Beeswap (Beeswap.dcity.io)
- Tribaldex (tribaldex.com)
- Hive-engine (Hive-engine.com)
step-by-step conversion of Hive to Swap.hive
For this conversion I used leodex.
Step 1: I checked my hive on ecency
Step 2: I log in to leodex through my hive keychain
here's the page after I was able to sign in
Step 3: I clicked on deposit and enter the amount of hive I want to convert which is 1.1
Step 4: I confirm that I want to make the transfer
Step 4: After confirming, I went to check my hive on ecency
The hive was successfully transferred.
Step 6: I checked my tokens on ecency and saw swap.hive
To convert back my swap.hive to hive.
Step 1: I went back to hive keychain app and sign in to leodex
Step 2: then I click on withdraw and enter the amount to withdraw which is 1.09
Step 3: I was asked to confirm the withdrawal which I did
Then I got the message that my transaction was successful
Step 4: I checked my ecency to confirm
Here is my swap.hive balance
Initially, when I started my task I tried using hivesigner to authorize the transaction on leodex but I kept getting an error message that my transaction was not broadcasted, I don't know why. So I had to do the conversion through the hive keychain app and it was quite simple. To think I was so worried when the error message kept popping up, am glad I was able to get it done.
Appreciation
A big thank you to @newbies-hive, @hive-learners and to the newbies-initiative teams @starstrings01, @ksam @theycallmedan and the @aliento for this initiative that awards us the opportunity to learn. Shout out to the queen of engagement herself @hopestylist my amiable team lead for all your support and advice. I also appreciate all my teammates, you guys are the best.