Buy Hive
What is Hive?
Hive is a blockchain and cryptocurrency utilizing a Delegated Proof of Stake (DPoS) consensus mechanism. It is designed for fast transactions and operates with zero transaction fees. Hive supports a diverse ecosystem of decentralized applications (dApps) such as Splinterlands, PeakD, and HiveBlog. Central to its operation are community-driven initiatives, thriving communities, and easy-to-use wallet addresses. Hive also supports the Hive Backed Dollar (HBD), an algorithmic stablecoin pegged to the US dollar.
How does Hive work?
Hive functions on a Delegated Proof of Stake (DPoS) consensus mechanism. In this system, users elect delegates, called Witnesses, to validate transactions and create new blocks. Hive's transaction model does not involve traditional fees; instead, it uses a Resource Credit system. This approach allows transactions to occur based on the user's staked Hive power. Additionally, Hive has incorporated the Proof of Brain protocol which incentivizes content creation and engagement through token rewards. It also facilitates the creation of custom tokens through its Smart Media Tokens feature.
What are the potential use cases for Hive?
Hive's potential use cases are varied and span multiple sectors, such as:
- Decentralized Social Media: Platforms where users can create, share content, and earn rewards.
- Decentralized Marketplaces: Supports dApps for secure transaction processes.
- Decentralized Finance (DeFi): Provides platforms for lending, borrowing, and utilizing a stablecoin.
- Gaming Applications: Facilitates blockchain games through fast, fee-less transactions.
- Identity Management Systems: Offers decentralized control over personal data.
Notable projects on Hive include Splinterlands (blockchain-based game), PeakD (social media platform), and Ecency (blogging platform).
What is the history of Hive?
Hive was created in March 2020 as a fork of the Steem blockchain in response to centralization concerns following the acquisition of Steemit Inc. by Tron Foundation. The community initiated this fork to maintain decentralization. In its evolution, Hive has emphasized scalability and community-driven improvements, introducing mechanisms like the Resource Credit system. Key historical milestones include a significant hard fork and various protocol modifications aimed at ensuring security and enhancing decentralization. The vibrant community involvement has been central to its growth and ecosystem expansion.
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The information presented in this comparison table is for educational purposes only and is not an investment recommendation for your personal circumstances. Past performance is not an indicator of future performance.
The data points in this table are sourced as follows: ASX200 from Google’s ASX200 index price, Gold from ABC Bullion’s website (abc bullion.com.au), and BTC from CoinGecko (coingecko.com.au). All data is recorded at 10 am AEST on the first day of each calendar month.
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Frequently Asked Questions (FAQs)
What is the current price of Hive (HIVE)?
The Hive price is $0.5793506 AUD, representing a +1.28% from the day prior.
Where is the best place to buy Hive (HIVE) in Australia?
The best place to buy Hive (HIVE) in Australia is right here! Coinstash is one of Australia's leading and most trusted cryptocurrency exchanges. Built by investors, for investors - Coinstash offers a secure and user-friendly platform to buy and sell Hive (HIVE) and over 1,000 other cryptocurrencies. Enjoy low fees, excellent customer support and access to an array of powerful trading tools and investing features.
What is the daily trading volume of Hive (HIVE)?
The trading volume of Hive (HIVE) is $20.7M AUD in the last 24hrs, representing a +1.28% from the day prior.
How can I buy Hive (HIVE)?
Hive (HIVE) can be purchased on Coinstash with AUD or by trading other cryptocurrencies for it. Coinstash offers various AUD deposit methods including bank transfers, POLi and PayID.
What is the market cap of Hive (HIVE)?
The current market cap of Hive (HIVE) is $265.9M AUD.
Can I convert Hive (HIVE) to cash?
Yes - With Coinstash you can convert your Hive (HIVE) to AUD instantly. You can also withdraw AUD to your Australian bank account instantly and for free with no withdrawal fees.
How many Hive (HIVE) are there?
The current circulating supply of Hive (HIVE) is 463.3M.
Is Coinstash a safe place to buy Hive (HIVE) in Australia?
Yes - Coinstash is one of Australia's safest and most trusted platforms for buying and selling Hive (HIVE) and other cryptocurrencies. Coinstash's industry-leading security practices provide the highest level of protection for your investments. Coinstash is licensed, compliant and AUSTRAC registered in Australia. You can learn more about our security practices.