Hive Blockchain, The Good And Bad

Hello everyone, how are you doing today? I am doing an article on the benefits of hive Blockchain. I tried to cover all the necessary things a novice should know about the hive Blockchain, starting from a background knowledge of a Blockchain to hive. I hope it educates you.
A blockchain is a distributed ledger with growing lists of records (blocks) that are securely linked together via cryptographic hashes. Each block contains a cryptographic hash of the previous block, a timestamp, and transaction data (generally represented as a Merkle tree, where data nodes are represented by leaves). Since each block contains information about the previous block, they effectively form a chain (compare linked list data structure), with each additional block linking to the ones before it. Consequently, blockchain transactions are irreversible in that, once they are recorded, the data in any given block cannot be altered retroactively without altering all subsequent blocks.link.
A blockchain is a distributed database or ledger shared among a computer network's nodes. They are best known for their crucial role in cryptocurrency systems for maintaining a secure and decentralized record of transactions, but they are not limited to cryptocurrency uses. Blockchains can be used to make data in any industry immutable—the term used to describe the inability to be altered.source.

I would define a blockchain as a digital ledger that records transaction; one could say it is an online bank that is self regulated, it is not government owned or controlled. Blockchains have come a long way, and it has grown to where it is today. Of course all blockchains are related to cryptocurrency, this brought about its identity as a blockchain. More importantly, each blockchain has its own wallet and token, the token serve as its own identity. Being a blockchain means they will have an interphase in which users can interact and mine the token for themselves, the tokens are kept in the wallet and they are recorded properly. Each user has an access to his account and at the same time, his wallet. The basic fact to note is that you can enter any blockchain of your choice from the comfort of your home, it is digital. This online trading has taken the world to the next level and it is not about to stop. Blockchains has provided have provided employment to many that I know of, they could not get a job in the real world. So, they started trading and now they are major traders with huge assets to show for their time and efforts. This is a promotional way to help boost the economy.

Majority of the blockchains we know today are decentralized, meaning, no single person or group has control or the decision making rights. Instead, all users collectively retain control. Decentralized blockchains are immutable, which means that the data entered is irreversible. For example, bitcoin transactions are permanently recorded and viewable to anyone.
The benefits of joining a blockchain is overwhelming, I cannot turn a blind eye to this great opportunity. So, i am also a participating in just a few blockchain myself, to mention them would be long list and I can say that I am an active participant in these blockchains. We can see that all these blockchains are good and they are promotional but our major discussion in this article is the hive blockchain. I must say that I owe my participation in the crypto space to the hive blockchain, because i was introduced to cryptocurrency when I joined hive blockchain. Since then, I have been extending my borders. I really learnt a lot from joining the blog; I explored my skills and improved on myself in other to gain the attention of curators.
Hive is a blockchain that derives its name from the bee hive. Literally, hive can be defined as a structure, whether artificial or natural, for housing a swarm of honeybees. But this blockchain houses people from all over the world together under its umbrella called hive.


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The hive blockchain is a content creating blog where users get the opportunity to showcase their skills and talent of various form, ranging from art, writing, public speaking, teaching, music, preaching, humanitarian services, promotion, influencers etc. Their contents on the blog are curated based on the quality of the work posted. These contents vary based on the communities they are posted or better still the blog where the entire user’s friend can see it. I would break down this post to give further assistance or knowledge to those not acquainted to the hive blog, I would define and explain few concepts in the blog that you need to know and how it can help you when blogging.
Communities
These are the various platforms on the hive blockchains, it is more of like a family per se. You can choose the community you want to join; and of course you can choose to join more than one community. You can choose the community you want to join by what you want to post, what you like and are interested in. It is very important to read the community description and understand them; failure to adhere to the community rules will lead to series of down voting on your post. I will name a few communities that I am acquainted with; Leofinance, Freewriters, Sketchbook, Alien Art Hive, Hive learners, etc. Each of them according to their specific interesting, for example, leofinance only accepts post on finance, while sketchbook and alien art hive are basically for artist, freewriters are writers. So, you join according to your specific content creation.
Curation
The rewards on your post on the hive blog are called curations. Depending on the quality of your content, you get votes. Upvotes means you are compensated or rewarded for your work but a downvote means your work is not rewarded and in some cases deducted. So, it is advisable to create a good content and comply strictly with the rules of the community you are posting and on hive, so as to get upvotes. The curation goes both ways, you can also up vote or down vote a post according to your liking. Depending on your hive power, you can choose the percentage in which you want to vote (10%, 30%, 60% etc).
It is important to note that the curation rewards on hive takes a 7 days window before it can be claimed. This means, if you are voted 10 $hive today, you cannot claim it or have access to it till after a 7 days window. This helps keep the system functional and an escape from people that wants to milk the system.
Wallet
Your wallet is where your funds are kept. In this aspect you can view what you have earned and also claim it when the 7 days window has elapsed. There are little features we need to note under the aspect of wallet, and I will try to explain some of them because they are crucial to this write up.
HDB (Hive Based Dollar)
The hive based dollar is used to peg hive and it is usually stable at $1 for a sustainable trading. You can convert the HBD to hive and vice versa. The rewards from your curation is usually divided into two, HBD and hive.
Power up & power down
For you to stake hive in your wallet, you do something that is called power up. When you power up your hive, the hive are kept stacked and your powered hive reflects your voting power. The more you power up, the more your voting power increases. So it advisable to power-up your hive.
Power down is when you convert your stacked hive to liquid. It takes a 7 days window for your power down to be actualized. This means after you indicate for a power down, you will get the liquid after 7 days.
Savings
You can also save your liquid hive and get 20% of your savings annually for free.
Delegation
This is the act of loaning part of your hive power to someone else for a specific period of time. You send part of your staked hive to the person of your designation and he gets it, when the selected time is completed, and the delegation is over, the hive returns back to the delegator.
Notification
Just like every blog and social network, the hive blog also has a notification bar that highlights all you need to know when you are away. The notifications are highlighted in an orderly manner.
Rules & Regulations
There are certain rules that are on the hive Blockchain, they are not much because each community has their own rules so, it is likely imbedded in that too. But there are some common rule that is peculiar to all. Some of these rules are:

You must post only original content.

When citing a reference or uploading an image, you must indicate the source.

Now, I'll like to expansiate on the benefit of Hive Blockchain.

1. Decentralized system:
   Hive blockchain is a decentralized system. Meaning you can operate from anywhere of your choice easing you of stress of moving from one place to another.
   Being a decentralized
   system, it helps to reduce cost of transportation,ability to multi-task.
2. An opportunity to learn and earn: it creates room for individuals to learn and earn in the process of earning. It is one of the best means by which one can earn funds and be financially liberated.
3. Improvement of writing skills: it helps one to add to his or her writing skills thereby adding value to ones self
4. Transparent: hive block chain business. Transparency is one of the major factors you can hold its value.
5. Low transfer fee: unlike the other platforms is very low. Thanks a lot for your time.

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