Trivia Tuesday is a series in which I choose a topic, and provide Fun Facts or Interesting Trivia about it. This time the topic is our HIVE Blockchain, I hope the insights I chose benefit you or make you smile.
If you're unfamiliar with the terms I'm using in this article, you'll find them as clickable links that take you to Leoglossary pages that explain them.
Fun Facts
1. STEEM Fork
HIVE is a Community Fork from a blockchain called Steem (Steemit) after being sold to Justin Sun. Unsatisfied by what they called a "hostile takeover" the community copied the blockchain content into a new one called HIVE.
HIVE by its nature is more decentralized than Steem.
I'm neutral to Justin Sun, but I stopped using Steem because everyone in my audience has moved to HIVE.
2. DAPPS
Apps built on HIVE Blockchain are called Dapps, it's short for Decentralized Applications.
While the most common usage of HIVE blockchain is text-based content such Social Media and Blogging. HIVE holds all sorts of databases including Gaming, second-layer Tokens and Decentralized Video Systems.
Two different microblogging Dapps on Hive are D.Buzz and INLEO. Both of them strive to improve HIVE blockchain in their own way.
3. Censorship Resistance
The different communities on HIVE don't necessarily have the same vision for HIVE Blockchain, but something most of them have in common is advocating against censorship. Due to the decentralized nature of HIVE, no one can remove your content.
Content can be downvoted or hidden from interfaces, but it's still there on the blockchain.
While this can be abused by malicious entities, I think places that combat censorship are necessary in our world! The community always comes up with solutions for that as well.
4. Hard Forks
Hard Forks are the big updates on the blockchain and they tend to change the blockchain's code permanently.
Some of the big Hard Forks included adding the Proposal System, deciding how the rewards are distributed, and overhauling the whole Resource Credit system.
Hard Forks are always exciting on HIVE because the community always puts a lot of thought on them.
5. HBD (Hive-Backed Dollars)
HBD is one of the things unique about HIVE (and Steem.) It's a token that's soft-pegged to USD. Meaning it keeps being worth $1 as long as the community agrees to trade it at that price.
I like HBD as a currency and it makes HIVE a bit easier to learn.
What Do You Think?
The idea for this Trivia Tuesday's Topic was provided by @beststart who commented on last week's post. If you want to suggest a topic for next week comment below. If you like this format, tell me so I keep posting articles like this.
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- This article makes use of Leoglossary's HIVE page.
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