In my second article, I wanted to give some information about the ecosystem I am in. I have compiled what I have read and researched below. Please let me know in the comments what I may have done wrong.
If I make a short review before I start writing general definitions; The price is moving up and down in the range of about 29 to 38 cents.
The HIVE ecosystem is a decentralized social media platform built on blockchain technology. It allows users to create and improve content and also earn rewards in the form of cryptocurrency for their contributions to the platform. This is how I got involved in this platform.
The Hive ecosystem consists of a number of different components, including the Hive blockchain, which serves as the backbone of the platform, and various decentralized applications (dApps) that run on top of the blockchain. These dApps include popular social media platforms such as Hive.blog, Ecency and PeakD, as well as other apps that offer services ranging from online markets to gaming and gambling. I plan to test them all in turn.
One of the key features of the Hive ecosystem is its focus on community and user empowerment. Unlike traditional social media platforms, which are usually controlled by a small group of centralized entities, the Hive ecosystem is decentralized and operates on a distributed ownership model. This means that users have more control over their own content and the rewards they earn for their contributions to the platform.
Another important feature of the Hive ecosystem is the use of cryptocurrency. The platform uses its own native cryptocurrency called Hive (HIVE), which is used to reward users for their contributions to the platform. This allows users to earn a passive income from their activity on the platform and also incentivizes users to create and improve high-quality content.
Hive Dollar (HBD) is a cryptocurrency used on the Hive blockchain. The platform uses HBD as a form of payment. Users can earn HBD by creating and editing content on Hive and use it to purchase goods and services or transfer value to other users on the platform. The HBD is pegged to the value of the US dollar, so one HBD is always worth approximately one US dollar.
This ecosystem offers a unique and innovative approach to social media by combining the power of blockchain technology with a strong emphasis on community and user empowerment. It provides a decentralized and transparent alternative to traditional social media platforms and offers users the opportunity to earn rewards for their contributions to the platform. This is the reason why I don't understand why people waste their time on different platforms.
This system, which has a lot of pros, should have been recognized by people. Maybe this increase in awareness will be realized after the end of the Bear season.