Power Up in Hive:
Hive Power is your influence in hive blockchain. Your Hive token can be powered up into Hive Power. When you power up, you get several benefits in hive blockchain. I want to share some advantages of powering up.
Power Up is Security:
You can treat power up as security because when you power up it takes about 13 weeks to power down completely. So, you can be in safe side in the context of id theft or hacking. For example, you have 100 Hive and 26 Hive Power (HP) in your wallet. If anyone steal your id with your active key, then he can easily transfer 26 Hive into any account instantly when you will know the matter. On the other hand, he needs 13 weeks to power down all your hive by 2 hive in each week. So, you will have a week to protect that transfer or power down. You can take necessary action by a week if you see power down command has been executed automatically. Through different exchanges like #blocktrades you can input HP for any amount of other currency but you can’t sell your HP directly. So, it acts as a security of your account along with other features.
Source: Image by OpenClipart-Vectors from Pixabay
Power up is Investment
In some of my previous vlog I have shown you that you can earn 10% return on investment annually from your simple crypto investment. For this you don’t need to have brain or work here. Just investment is needed in this case. If you delegate your Hive Power (HP) into different good upvoting services like #bdcommunity #tipu #rocky1 who are searching for quality contents here in the blockchain and upvote those, then you will get profit from your share of delegation in return. By this way you can earn about 10% from annually from your Hive Power as an investment. Another way is, just hold a good amount of HP to follow the upvote services & good content creators as fan by auto voting services. In such way you will get some curation reward regularly from your HP. Thus, Powering Up obviously a good investment.
Source: Image by LoveYouAll from Pixabay
Power up is profit
As I have shared in previous part that power up is an investment. So here there will be some investment return as profit. For example, when you delegate 1000 HP, then you may get 0.28 Hive daily from any good curation service provider. Annually its (0.28 Hive * 365 days) = 102.2 Hive. So annual profit percentage is (102.2 * 100%)/1000 = 10.22%. Similarly, you can get profit from your curation through Hive Power as well. In Blockchain, you are also getting some APR which is about 1.5% from your powered-up balance.
Source: Image by Clker-Free-Vector-Images from Pixabay
Power Up is Influence
Hive Power is treated as Influence in the Blockchain and exactly it is. The more HP you have the more influence you can create in the blockchain. When you upvote for example 100 % on anyone’s content, how much should be the vote amount will be determined directly by your holding HP. When you have more HP, then your Resource Credit will be high, thus you will have more and more voting ability with good influence in the form of vote value.
Image by BedexpStock from Pixabay
Power up is hedge
Power up protects you from changing the price of the token. The amount of hive you powered up, will power down the same amount. So, you can get back the exact amount when power down, along with that you can have influence or profit return during the session of power up. For getting some reward, you are not losing your hive amount through Power up. There are some APR on Powered up amount from the blockchain itself that is about 1-2%. This is working as a fence of your money with some return.
Image by Pixaline from Pixabay
Hope you have got a good idea on this topic. If you like to add some points or correct anyone, can comment here. Thanks for stopping by.
Who I am:
I am lecturer of Textile Engineering in Bangladesh and a newly married husband. I love to share my thoughts and ideas to my friends and community. I want to express whatever I have learn so far in YouTube, DTube etc. I explain Textile, Earning and Cryptocurrency related vlogs. I love to capture Natural Photography. I am always a learner and wants to make huge community here in Blockchain to reach to the moon with Blockchain.
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