Review on Hive by David Olayide
The HIVE PROJECT
Hive is a cryptocurrency for an open source social media blockchain. It was developed and established through a hard fork of the original Steem blockchain after a group of the community decided to split away and form their own chain. According to the information I have about the project, Hive will be a copy of the Steem Blockchain when it is eventually launched. All eligible STEEM stakeholders will receive a perfectly mirrored balance of their current STEEM holdings in the new HIVE coin.
In essence let’s actually talk about what the Hive Blockchain is. Hive is an innovative and forward-looking decentralized blockchain and ecosystem, designed to scale with widespread adoption of the currency and platforms in mind. The project makes use of very fast processing times and zero fee transactions and this feature makes Hive one of the leading blockchains used by people around the world.
Transactions take less than 3 seconds and the Hive network is highly scalable making use of a future proof resource-bandwidth & storage system. Hive coins have a circulating supply of 370 Million HIVE coin. O don’t have a figure yet for the maximum supply available.
Hive has a very large ecosystem consisting of a lot of components. I feel that if this ecosystem is adopted by a majority of people worldwide, then there could be almost limitless potentials to a sustainable economy free of many of the complications that we now face today.
Pros
- Fast and scalable network
- Hive has an Ecosystem with various parts and components
- Hi e is reportedly a mirror of the Steem project
Cons
- Mass adoption is needed for the potentials of the project to be realized
