What is the Reward Pool and How it Works in the Hive Blockchain

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Reward pool is an important part of the Hive blockchain. Based on this, the amount of curation of all content belonging to the blockchain is determined. So all the active members of Hive should be well aware about it. I myself did not have a detailed idea about the reward pool. Later I was able to get some basic ideas about it through research. I will present them to you now.

What is the Reward Pool?

Every day, a fixed amount of HIVE tokens are allocated to the network reward fund, commonly called the "reward pool." These get distributed to authors and curators for posting and voting on content.
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There is a fixed amount of HIVE coins that gets added to the rewards pool each day. In the short term, the amount of coins that get paid out may be higher or lower depending on the amount of voting activity, but over time it will pay out the full amount of rewards regardless of who votes.

Votes in Hive are stake-weighted. Therefore voters with more Hive Power have a greater influence over the allocation than voters with less HP, but their votes do not increase the amount of rewards in the rewards pool. Source

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That means the reward pool largely depends on the voting weight of the curators. Daily rewards are distributed based on the number of votes they cast each day. Hive tokens are awarded as Hive rewards. This requires generating a certain amount of Hive Tokens per day. Witnesses on the Hive Blockchain generate a certain amount of Hive Tokens through Block Produce every day, of which 65% of the tokens are included in the reward pool. And they are distributed among authors and curators.

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My opinion about fair Reward Distribution

I think upvoting should consider quality of content rather than high reputation or partiality. If curators put more emphasis on upvoting high quality content, it will gain traction over other social platforms. Active users should also be given a lot of attention. It is because of their activity that the ecosystem is constantly moving forward.

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So that's all about my opinion. Actually I myself am still in the learning stage. So trying to gain knowledge about everything details on the Hive blockchain.

All the Images collected from https://whyhive.co/

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