How does Hive (HIVE) work?

Delegated Proof of Stake is the consensus mechanism that Hive uses (DPoS). By making sure that transactions are accurately represented, this algorithm secures the blockchain. A DPoS system is a form of tech-based democracy that uses voting and election procedures to safeguard blockchain from centralization and abuse. Regarding how this relates to Hive, the weight of your vote is determined by the amount of Hive Power (HP) that you have invested on your account. The Hive server, which creates new blocks and maintains the entire network's functionality and security, is run by witnesses who are chosen by stakeholders. 

Hive is the blockchain for multimedia. Blogging stories, sharing videos, livestreams, sounds and images. Returning the value created by creativity back to the creators themselves. The users are the owners of this decentralised platform.

Team

• Aydin Kilic - PRESIDENT & COO  

Mr. Kilic has over 20 years' experience as an entrepreneur and electronic engineer with expertise in cryptocurrency, capital markets, real estate development and scientific research. He founded Fortress Blockchain Corp. in 2017 and led this company as CEO to go public as a Tier 1 Technology Issuer on the TSX-V, raising $30M in the process.

• Frank Holmes - EXECUTIVE CHAIRMAN

Renowned global investor Frank Holmes leads the HIVE board of directors, contributing to the company's vision and strategy. Frank is chief executive and chief investment officer at U.S. Global Investors, a leading mutual fund and asset management firm. Frank is a sought-after keynote speaker at international investment conferences and a regular guest in business media. His Frank Talk CEO Blog is one of the most widely read in finance.  

• Darcy Daubaras - CFO

Mr. Daubaras has over 25 years of experience working with public companies and in corporate accounting. Darcy served as a member of the executive team at FinancialCAD Corporation before joining HIVE. She has also held positions as director of corporate accounting at Mercer International and chief financial officer for a number of Canadian listed public firms. Darcy has experience with Sarbanes-Oxley and holds a CPA, CA designation from the Chartered Professional Accountants of British Columbia in addition to a CPA designation from Illinois. He graduated from the University of Victoria with a bachelor's degree in business.

• Ian Mann - DIRECTOR  

Since December 2019, Mr. Mann has served as President and a Director of HIVE Digital Data Ltd., a department of HIVE. Before joining HIVE, Mr. Mann served as president of Meridian Fund Managers Ltd. from November 2003 to July 2019, a BVI-registered fund manager with two alternative investment funds that predominantly invest in mining and oil and gas companies. Mr. Mann had previously held top management and partner positions with a number of Bermuda-based businesses. Since 1997, Mr. Mann has had non-executive directorships in three mining and oil firms with Canadian market listings that have since amalgamated with other companies, as well as Gran Colombia Gold Corp. from March 2016 to August 2017. From 2005 until 2017, Mr. Mann served as a director for two AIM-listed businesses.

Where to store Hive (HIVE)?

Hive has their own wallet called Hivewallet - a fast, secure and open source wallet for the Hive blockchain. Encryption wise it is just as safe as the cli_wallet app provided by the Hive software, using AES 256 encryption and per device & per (re-)install unique initialisation vector. Also the app obliges you to choose a difficult to guess passphrase for encrypting your wallet file. You can opt to store that passphrase in your device's native keychain, if your device provides biometric access (Touch ID, Face ID, Fingerprint) and you have that feature enabled.

Where to Buy and Sell Hive (HIVE) ?

You can Buy & Sell Hive (HIVE) here at BC Bitcoin. You can Buy HIVE by heading over to the Buy Coins page of our website. HIVE is available on BC Bitcoin trading against major fiat currencies: GBP and EUR. Buying HIVE has never been easier, simply place your order and provide your wallet address. Once your payment arrives, HIVE will be sent directly to your wallet. 

If you choose to Sell Hive (HIVE), you can send us the coins and receive a payment to your bank account. Details and a live valuation can be found on the Sell Coins page. 

Hive (HIVE) Resources:

Hive Website: https://hive.io/

Hive Block Explorer: https://hiveblockexplorer.com/ 

Hive GitHub: https://github.com/openhive-network 

Hive Whitepaper: https://hive.io/whitepaper.pdf 

Hive Twitter: https://twitter.com/hiveblocks 

Disclaimer: The information provided in this article is intended for informational purposes only. It is the readers responsibility to complete their own research and due diligence.