Hello everyone, this post was as instructed by @ kronias for all those who completed stage 01.We had an insightful tutorial about Hive tokens and how you can power up your hive tokens by moderator @prayzz as a required knowledge for stage 02 and this is what i learnt by answering the assessment questions.
How much do you know about Hive, Hive Power & HBD?
Hive is what we can all call "Legal Tendency" for the Hive blog which is similar to other Crypto currencies like Bitcoin, Etherium, BNB, etc. My understanding of Hive is that it is a currency and Hive Blog is where you can get that currency from by earning it via original content and joining communities.
Hive is also considered as "Liquid Currency" that can be used to trade, transfer and spend and it also stored in a wallet just like every other Crypto currencies. It does not have a static price as it can increase and decrease depending on the market movements. Hive can also be used on different Crypto currencies exchangers like Binance, Horbit, HBTC,etc
Hive Power
This is considered as the measure of a user's power within the network of Hive. HP shows my "influence". Hence, if I have more Hive Power I can have an influence on votes and comments on a post, it also includes allocation of rewards due to my high hive power
Hive Dollar
It is also considered a liquid token just like we have the Hive and it is tradable.It shares similarity with USD and is also stored in a wallet on the blockchain.
Is there any importance of powering up Hive?
Powering up is frequently used on the Hive Blog, from the tutorial is very necessary to understand because the amount of hive Power I have will be a determinat of how many times in a day I can post, comments and upvote. I remember as a newbie I had issues posting more or commenting until I was delegated Hive Power which eased the issue. The Hive Power gives the user the ability to have an effect on rewards of post.
How many ways are there to acquire Hive Power (HP)?
There are basically three ways of acquiring Hive Power
Post Earnings- When we make post on the Hive blog, we are likely to get rewarded, this reward we get for a post is split into four with two of out of the four going to HBD and HP wallets respectively. It is considered as a slow way of gathering Hive Power
Purchase Hive and Power Up - Just as it sounds, it very easy to understand.You simply buy hive from the market and covert to Hive Power
Hive Power via Delegation: A member on the hive blog eases the stress by giving hive Power
Show the process of converting HBD to Hive from Internal Market? (Must show screenshots)
Step one: Open your hive wallet and tap on Hive, Select MARKET
Step two: This chart opens and underneath we see buy or sell option, we insert what we want the amount of HBD to convert and the amount will be revealed. If I am okay with that price, I would click on buy and wait for my order, my exchange will be sent to my wallet
Can you power up your Hive To HP? (Must Show The Process)
Step 1: We go to Hive again on our wallet and click Power Up
Step 2: A page open requesting for the user to input the amount of hive to be powered up. INSERT amount and it will be powered up
Source of other photos: screenshots from my gallery