In March 2020, the cryptocurrency world witnessed an extraordinary event: the Steem blockchain community, dissatisfied with the alleged centralization and influence from the Tron Foundation (which acquired Steemit Inc., the largest holder of Steem tokens), made an unprecedented decision. They conducted a hard fork of the original blockchain, creating a completely new, independent chain called HIVE. This was not just a technical fork, but rather a "social fork" – a community uprising driven by ideals of decentralization and freedom of speech, making HIVE a unique phenomenon in the blockchain industry.
Born from Conflict: HIVE vs Steem
The history of HIVE is inextricably linked to the history of Steem. Steem was one of the first blockchains focused on social networks where users could earn cryptocurrency for creating and curating content. However, when the Tron Foundation acquired Steemit Inc. (the founding company of Steem and its main developer), the Steem community feared that this would lead to centralization and undermine the decentralized nature of the platform. There were concerns that Tron could use its vast reserves of Steem tokens (so-called "ninja-mined" tokens, which were allocated to early developers) to control network governance.
In response to these concerns, much of the Steem community, including developers, validators (witnesses), and active users, decided to create a new chain that would be fully controlled by the community and free from the influence of centralized structures. Thus, HIVE was born – a blockchain that is almost an identical copy of Steem at the time of the fork, but with a new, decentralized philosophy and more transparent token distribution.
What is HIVE? A Decentralized Information Network
HIVE is a decentralized information-oriented blockchain platform designed to support a wide range of Web3 applications, especially those related to social networks, content, and gaming. It operates on a Delegated Proof of Stake (DPoS) consensus mechanism, ensuring high transaction speeds and scalability.
Key Features of HIVE:
Speed and No Fees: HIVE offers "lightning-fast" transactions (typically within 3 seconds) and, notably attractive to users, almost zero transaction fees within certain limits. This makes it ideal for highly interactive applications such as social networks and games.
Scalability: Thanks to DPoS, HIVE is capable of processing a large number of transactions, which is critically important for applications aimed at mass adoption. It also focuses on scaling through Layer-2 solutions while maintaining the integrity of Layer-1 data.
Decentralization and Resistance to Censorship: As a blockchain born from the desire for decentralization, HIVE places a high priority on censorship resistance. Content published on HIVE is immutable and accessible to all.
Strong Community: The HIVE community actively participates in governance, development, and promotion of the platform, which distinguishes it from many other projects.
"Proof of Brain": Although HIVE uses DPoS for consensus, the concept of "Proof of Brain", inherited from Steem, is still relevant. It refers to a system where users are rewarded for creating and curating high-quality content, stimulating intellectual contributions to the network.
HIVE as a Bridge to Web3
HIVE positions itself as an important bridge between the worlds of Web 2.0 (centralized social networks) and Web 3.0 (decentralized internet). It provides developers and users with tools to create and use applications where users are the true owners of their data and content, and also receive fair rewards for their contributions.
Since its launch, HIVE has continued to evolve, attracting new projects and users who value its decentralized nature, speed, and active community. It serves as living proof that a strong community can not only launch a successful blockchain but also sustain its development guided by shared ideals.