I was recently involved in a conversation about WEB3 , cryptocurrency and social media platforms. The people who participated in the conversation had never used platforms like Hive or Blockchain, they knew about BTC and ETH of course, but that was all they knew. Of course I decided to educate them and talk about HIVE and HBD, and at that moment I thought why not write a post so that newbies can read it and get an idea of how the whole system works.
Web 3
Web 3 platforms like Hive offer some unique advantages over traditional Web 2 platforms: They are decentralized, which means they are not controlled by a single entity and are more resistant to censorship and manipulation. They also typically offer users more control over their data and content, as well as the ability to earn cryptocurrency ( HIVE + HBD ) through various mechanisms such as stakes ( APY ) and content creation.
So you asked what Hive is
I did not want to burn their brains over games, nfts, etc., so I started with a blockchain-based social media platform designed to support decentralized applications and services that allow users to share and interact with content without the need for centralized authority or control. BOOM ! (You did not ask about decentralized applications, so I thought I'd get to that another time), so back to hive. So you share your thoughts, knowledge and experiences on the platform and unlike Twitter, Facebook and Instagram the other users reward you by upvoting. You get paid in HIVE ( HP ) and HBD
***What hive use is ***
Hive is the main token on the Hive blockchain and is used for a variety of purposes including:
Voting and participating in governance decisions
Staking to earn rewards (APY) and increase one's voting power
Earning rewards for creating and curating content
Paying transaction fees on the Hive network
What is HBD
Hive Backed Dollars (HBD) is a stablecoin pegged to the US dollar. HBD can be used for:
Making purchases and payments
Earning rewards for creating and curating content
Staking and earn APY
And we have explained all this in 2 hours
Of course, all the information can be found here https://hive.io/
But human interaction is always better and gets others interested.
I hope they can come to the hive and see for themselves the vibrant community that hangs out here and get something back.
https://www.weforum.org/agenda/2022/02/web3-transform-the-internet/
https://hive.io/
https://en.wikipedia.org/wiki/Web3