Hey, guys! Hope you all are well, it was an amazing time, listening to the hive community time hall. As you all know I'm new to hive and I really don't know much, so I'll just run a review on what I have heard throughout the podcast. Mind you it was crazy amazing to hear from arcange and Eric as usual.
To get started, In the Hive community, users can earn rewards by participating in a variety of activities, such as creating content, curating content, and voting on content.
These rewards are paid out from a pool of funds called the Reward Pool. The amount of rewards a user receives is based on the number of upvotes and downvotes they receive on their content.
Downvotes are used to flag low-quality or spammy content, and they can reduce the amount of rewards a user receives.
Witness activity is another important part of the Hive community. Witnesses are users who are elected by the community to help maintain.
The reward pool
The reward pool is a pool of funds that is used to pay out rewards to users who participate in the community. The funds in the reward pool come from transaction fees and other sources, such as user donations.
The amount of rewards paid out from the reward pool is determined by a formula that takes into account factors such as the number of upvotes and downvotes received on content.
One important factor is the number of upvotes and downvotes received on a user's content. Upvotes are like "likes" and they increase the reward for a piece of content. Downvotes are like "dislikes" and they decrease the reward for a piece of content. The number of upvotes and downvotes a user receives is weighted based on the reputation score of the user who gave the vote.
Another factor that affects the amount of rewards a user receives: the author reward factor. This is a multiplier that is applied to the reward for each piece of content a user creates. The author reward factor is based on the user's reputation score and the age of their account. This is to encourage users to create high-quality content and discourage spam.
The next factor is curation rewards. These are rewards that are paid out to users who upvote or downvote content. The amount of the curation reward is based on the age of the post being voted on and the amount of Hive Power the user has staked. Hive Power is a measure of a user's influence in the community, and it is earned by participating in the community.
Witness Activity
Witness rewards are paid out to users who run a node and help to maintain the blockchain. The amount of the reward is based on the performance of the node and the user's reputation score. To become a witness, a user must be voted in by other users.
One more type of reward: proposal rewards. Proposal rewards are paid out to users who submit proposals for improvements to the Hive blockchain. These proposals must be voted on by other users, and if they are approved, the proposer receives a reward.
Downvotes
As we mentioned before, downvotes decrease the reward for a piece of content. However, there are some specific rules around downvotes. For example, downvotes must be cast within 7 days of the content being published, and they can only be cast by users with a certain amount of Hive Power. Additionally, downvoting is intended to be used to flag low-quality or harmful content, not to punish users for their opinions.
We'll talk about curation trails. Curation trails are a way for users to delegate their curation power to another user. This means that the user who has delegated their power will earn rewards based on the votes cast by the user they delegated to. This is a way for users to support content creators without having to vote on content themselves. Delegation on the other hand is a way for users to temporarily transfer their Hive Power to another user. The user who is delegated to can then use that power to vote on content, but they cannot transfer or sell the delegated power. Delegation is a way for users to support content creators without having to give up their Hive Power permanently.
Note: Curation trails and delegation are related to downvotes, but they are not the same thing. Curation trails allow users to delegate their curation power to another user, while downvotes are a way to flag content that is low-quality or harmful. Delegation can be used to support curation trails, but it is not the same thing.
Conclusion
To summarize, in the Hive community, there are several types of rewards, Author rewards, Curator rewards, Proposal rewards, Downvotes, Curation trails, and Delegation. These different types of rewards help to create a vibrant and active community, and they encourage users to create high-quality content. In the Hive community, users can create content, vote on content, and earn rewards for their contributions. Curation trails and delegation allow users to support each other and build a strong community. Downvotes help to flag low-quality or harmful content. The goal of all of these systems is to create a thriving community of content creators and curators.
Zeegirl 🌻