Question 1

What is HIVE?

Accepted Answer

HIVE is the native transferable asset of the Hive blockchain. It can be traded, transferred, or staked. Hive is a DPoS blockchain for social applications, games, and financial tools; when accounts perform on-chain operations, they use stake-related resource credits rather than paying conventional fees separately for each operation. HIVE is not a token from a new network created independently of its history. Hive was established in 2020 as an independent fork of Steem. Eligible former Steem account balances were mapped to HIVE, HBD, or Hive Power on the new chain after the fork snapshot; the whitepaper also states that stake associated with participants in the centralized attack at that time was excluded from the initial distribution.

Question 2

What does staking HIVE do?

Accepted Answer

Staking HIVE converts it into Hive Power (HP), allowing holders to participate in governance voting, including for witnesses and funding proposals, with weight based on the HP they support. Witnesses are ranked by the staked weight supported by token holders and are responsible for signing and producing blocks on a schedule; therefore, staking affects voting weight and network resource capacity, rather than meaning tokens are handed to a validator in exchange for a fixed return. HP also determines the amount of resource credits an account can receive. Account operations consume resource credits, which automatically recover over time; accounts with higher usage frequency, more resource-intensive operations, or activity during high-load periods generally need more HP to continue operating.

Question 3

What is the difference between Hive Power and HIVE?

Accepted Answer

HIVE is the liquid form, while Hive Power is the staked form of the same asset. Converting HIVE into HP is called powering up; after conversion, HP can be used for governance voting and to provide resource credits to an account, so it cannot be immediately traded freely like liquid HIVE. To restore liquid HIVE, a holder can initiate a full or partial power down. Released HP is not returned all at once: the whitepaper specifies that it is returned as HIVE in equal installments, one every 7 days over 13 weeks. This waiting and installment arrangement means that being able to unstake does not mean all HP can be sold immediately.

Question 4

Why does Hive generally not charge a fee for each transaction?

Accepted Answer

Hive's no-per-transaction-fee model is implemented through resource credits, rather than meaning that operations have no resource cost. When an account initiates transactions such as transfers or posts, it consumes resource credits; those credits are linked to the account's HP and automatically recover. Different operations consume different amounts of credits: publishing text generally consumes more than an asset transfer, and peak network usage also increases the resource consumption of comparable operations. Even accounts without HP may be able to perform limited operations when current resources and network load permit; if credits are insufficient, users need to wait for recovery, reduce operations, or obtain more available HP.

Question 5

How is new HIVE created and distributed?

Accepted Answer

New HIVE is issued by the protocol rather than minted arbitrarily by a single account. The issuance described in the whitepaper goes to different purposes, including the content rewards pool, HP holders, witnesses responsible for block signing, and the decentralized Hive fund; the content rewards pool is then shared by content creators and curation participants. Therefore, content or community participation is not itself a condition guaranteeing a fixed amount of HIVE. Rewards must first form a rewards pool under the network's issuance rules and are then distributed according to the relevant on-chain activities and rules; HP holders, witnesses, and supported proposals also have different participation conditions and settlement paths.

Question 6

What is the difference between HIVE and HBD?

Accepted Answer

HIVE and HBD are not the same asset. HIVE is the network's native asset that can circulate and be staked into HP; HBD is another asset on the Hive network, designed to maintain a 1:1 peg with 1 USD. Their uses and price characteristics are not interchangeable: staking HIVE creates HP and affects governance and resource credits, while HBD is designed around USD-denominated stability. A target peg describes the protocol design and does not mean its market price must equal 1 USD at all times.

Question 7

How do Hive governance and block production work?

Accepted Answer

Hive uses delegated proof of stake (DPoS). Holders support witnesses with HP weight; leading consensus witnesses sign blocks in rotation, and if one fails to sign, the next scheduled witness takes that opportunity. Holders can also use their staked weight to support proposals for the decentralized Hive fund. Protocol changes do not take effect through a single token-holder vote: under the process described in the whitepaper, consensus witnesses must upgrade nodes and reach the required consensus before a change is implemented on the network.

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