As Hive uses a consensus mechanism called Delegated Proof of Stake (DPoS), you make money by contributing content to the platform.
In essence, this is called Proof of Brain (PoB). By using your brain to create engaging and informative content, you attract upvotes from users with staked Hive and receive a portion of the reward pool for your content.
This Hive Guide will outline the three ways to earn money through the Hive platform: Authoring Content, Commenting on Content or Curating Content.
Authoring Content
Many users create posts to author new and informative content on Hive. This is the main way to make money on Hive. Informative, relative and engaging content is the best way to ensure you attract the most upvotes and reward for your time.
Make sure your content is informative and connects with people. You can write one average post a day with relevance and most users will understand, send some votes your way and engage. Author 10 posts a day and they are all average/mediocre, then readers will start to skip over your content and not read any of it.
Be cautious about what you post and understand that others might not see the value in what you post. In the beginning, your content may not attract the attention and reward you feel it deserves, but by connecting and persisting, you will find that, in time, if your content is high level, you will reap the rewards for your efforts.
Authors can also add #tags to their content so that topic content is easily found. For example, if I wanted to read about any content regarding #BTC, then I would search the #BTC tag for that content. As there are many posts authored on a daily basis, the tag methodology enables an easier way to navigate the content on the Hive Blockchain.
Commenting on Content
The second way for users to access reward is to read and interact with authors. On the Hive Blockchain you are able to comment and provide feedback or commentary on a post. This enables users to interact with the author and ask questions or provide further information that is relevant to the original content.
If these comments are deemed to be relevant to the original post, users can upvote comments and reward these in the same way posts are rewarded. Usually, comments attract lower vote percentages than posts do.
Curating Content
Rewarding content involves upvoting posts and comments with a percentage vote. Upvote amounts are relative to the amount of staked Hive you have in your wallet. The greater the staked Hive in your wallet, the higher value your upvote will have.
To reward users for staking, reading and upvoting content, curators are given a percentage of the rewards for curating/upvoting content.
Rewards are split 50/50 between curator and creator. So if you receive $1 for your post, 50c goes to curators and 50c goes to the author.
Each post or comment is only open for voting to earn on for seven days, at which point it will close and the earnings for creator and curators will be paid from the rewards pool into individual accounts.
Earnt Hive can then be sent to and traded on popular exchanges such as Binance and Bittrex.
Thanks for reading.
