Guest: Dan Hensley,The representative of Hive community
Host: Molly
Introduction:
Dan:
Hi! Thanks for having me! My name is Dan Hensley, I'm a large Hive investor, Co-founder of 3speak.online (YouTube Alternative built on HIVE), and a big believer of Web 3 and the decentralized movement.
In short, Hive is a decentralized, highly scalable blockchain that empowers Web 3 dapps.
Question from community.
When & Why was HIVE created?
Sure! Hive is a community-initiated fork of the four-year-old Steem blockchain. Hive puts responsibility for future development back into the community, and already development is a hive of activity. The vision behind it is to continue the strong community values that have been established while also freeing the ecosystem from the burden of Steemit Inc’s influence.
What is the purpose of HIVE?
Hive is a community-initiated fork of the Steem social media blockchain. The community forked on 20 March 2020 to preserve the original vision of censorship-resistance and decentralization. Hive puts responsibility for future development back into the community, and already development is a hive of activity.
The goal of Hive is to flourish as a decentralized ecosystem that can support and provide an outlet for the voices and needs of a global userbase and audience. With Hive's ease of use and low barrier to onboarding, it makes Hive an ideal choice for buidling Web 3 sites. HBD (HIVE Backed Dollar) is a token that is meant to be worth about $1 by promising to pay one-dollar worth of HIVE when it is redeemed. HBD can act as a stable currency for many businesses to leverage when selling goods and services on Hive. Although Hive initially launched as a social media blockchain, and continues to strive to do so, more and more external (d)apps use the network. Not only to connect to the Hive content reward mechanism but also to utilize the fast, feeless transfers and immutable account & community creation.
With its flexible and easy to use, recognizable RESTful APIs it is a breeze to implement a Hive integration to any app, whether it is a utility, gaming, or in the social sphere. With the continued development on Smart Media Tokens, the Hive chain will cater to those other (d)app projects willing to launch a token-based reward system, which runs on the Hive network. As a result, Hive has a wide range of utility and organic growth. It also has the increased security that comes from a truly open source and public blockchain, where all stakeholders have a say in its direction. Its sports resilience by design from the exit scams and other similar issues affecting the Altcoin community.
What features does HIVE have?
Hive is decentralized, feeless, has 3-second block times and your social username is your wallet address. Hive offers agile governance for more efficient upgrades via a battle-hardened Delegated proof of stake governance model combined with extremely high TPS (transactions per second). Hive also has easy JSON based APIs and layer one operations for dApps and social media: including posting, commenting, and voting. Hive offers a "plug and play" Web 3 experience.
There is also a substantial decentralized hive fund which allows for the continuous growth of the development of the chain and the dapps building on the blockchain.
Does HIVE have an official marketing team or CEO?
No. Hive is a decentralized, community-driven blockchain that works without a singular Centralized Executive Officer. No one centralized organization will be representing Hive but instead grassroots groups of dedicated users have and will form to take on those key marketing and representation roles. Hive does not rely on one entity to keep it going, it is a global project. It is designed to remain viable in the long term as it may be carried on by any member or group within the community.
Additionally, with Hive as the platform, our dapp builders, content creators and communities promote Hive when they promote themselves. Hive is a diverse community with the talent pool to accomplish anything.
In a ecosystem where anyone can build anything and the blockchain is the skeleton that allows businesses, projects, services, and dapps to flesh out their ideas, marketing Hive goes hand in hand with marketing the ventures.
Free asking session
2.I know you already tackle this one as Hive's investor. Can you explain more about the the trustless “Decentralized Hive Fund” (DHF)? @Fulltimer000
Hive’s economic model is based around inflation, which lowers annually but lies currently around 8.5%.
Previously out of this inflation the content rewards were paid, as well as block producers and insurance for “staked tokens” to safeguard them against inflation.
Nowadays the inflation is still the same… Yet another “receiver” has been added to the mix: The Decentralized Hive Fund. Since the DHF receives funds via inflation into a wallet know one controls, it is therefore trustless.
To get proposals voted in you need to earn enough stake based votes to be funded. The funding is trustless and the voting for proposals is democratic based on stake weighted vote.
3.ls HIVE Wallet easy to use to people who is just getting into crypto? What are the features of HIVE Wallet that would guide it to mass adoption? @minseo2
Hive wallet is very easy to use for those just getting into crypto. Rather than having to copy and paste long and confusing wallet addresses, they simply just use their Hive username.
That’s one of the many aspects of Hive that make it a nice bridge for those not familiar with crypto yet. In fact, for many users, it will be their first crypto experience.
So with the easy wallet addresses (Hive username (ex: Theycallmedan) and mobile-friendly design, Hive wallets are great for attracting new users and therefore mass adoption.
