{"id":"hive","title":"Hive","content":"**Hive** is a decentralized information-sharing network and [Web3](https://iq.wiki/wiki/web3) [blockchain](https://iq.wiki/wiki/blockchain) ecosystem. It operates on the [Delegated Proof-of-Stake](https://iq.wiki/wiki/delegated-proof-of-stake-dpos) (DPoS) consensus protocol, featuring 3-second block times and fee-less transactions. [\\[2\\]](#cite-id-wrlkSVjSnG6xmvdF) [\\[3\\]](#cite-id-fDuhpAQJg6IIcQhG) The network was launched on March 20, 2020, as a community-led hard fork of the Steem blockchain. [\\[4\\]](#cite-id-u7bSYw5kzUrjRZXr)​\n\nHive is designed to store vast amounts of immutable content, enabling time-based monetization for creators and curators through a \"Proof-of-Brain\" (PoB) mechanism. The ecosystem supports a wide range of [decentralized applications](https://iq.wiki/wiki/decentralized-application) (dApps), including social media, games, and [DeFi](https://iq.wiki/wiki/defi). It has two native tokens: HIVE, the liquid governance token, and Hive Dollar (HBD), an algorithmic [stablecoin](https://iq.wiki/wiki/stablecoin) pegged to the U.S. dollar. [\\[1\\]](#cite-id-55ip0twbo29) [\\[5\\]](#cite-id-DZ3zMCZQBCfco35U)​\n\n## History\n\nHive was created as a community-driven hard fork from the Steem [blockchain](https://iq.wiki/wiki/blockchain). The [fork](https://iq.wiki/wiki/fork) was a direct response to the February 2020 acquisition of Steemit Inc., the founding company of Steem, by [Justin Sun](https://iq.wiki/wiki/justin-sun) of the [Tron](https://iq.wiki/wiki/tron) Foundation. A significant portion of the Steem community perceived this acquisition as a threat to the network's decentralization, citing concerns over the influence of a single entity. [\\[2\\]](#cite-id-wrlkSVjSnG6xmvdF)​\n\nThe Hive [blockchain](https://iq.wiki/wiki/blockchain) officially launched on March 20, 2020. The initial distribution of HIVE tokens was a 1:1 airdrop to STEEM holders based on a snapshot of the Steem blockchain. However, in a controversial move, the Hive community excluded certain Steem accounts from the airdrop, which they believed had participated in centralizing the original chain. [\\[2\\]](#cite-id-wrlkSVjSnG6xmvdF) [\\[3\\]](#cite-id-fDuhpAQJg6IIcQhG)​\n\nSince its launch, the network has undergone several major upgrades (hardforks) to enhance its features and performance. Notable hardforks include \"Equilibrium\" (Hardfork 25) on June 30, 2021, and a subsequent upgrade on November 19, 2025 (Hardfork 28), which was deployed seamlessly. [\\[6\\]](#cite-id-pTRFJ25H76hGQ30W) [\\[7\\]](#cite-id-JcaAD5rsQl77WOEr)​\n\n## Technology and Architecture\n\n### Consensus Protocol\n\nHive uses [Delegated Proof-of-Stake](https://iq.wiki/wiki/delegated-proof-of-stake-dpos) (DPoS), a [consensus mechanism](https://iq.wiki/wiki/consensus-mechanism) where token holders use their staked HIVE to vote for individuals, known as \"witnesses,\" to secure the network. The top 20 elected witnesses are responsible for producing and signing transaction blocks, with additional backup witnesses on standby. Witnesses are also responsible for maintaining a reliable price feed for the HIVE/HBD market and approving protocol changes. [\\[2\\]](#cite-id-wrlkSVjSnG6xmvdF)​\n\n### Core Features\n\nThe Hive [blockchain](https://iq.wiki/wiki/blockchain) is built on a Graphene-based framework and features several key technical specifications:\n\n* **Block Time:** Transactions are processed in 3-second blocks. [\\[3\\]](#cite-id-fDuhpAQJg6IIcQhG)\n* **Fee-less Transactions:** Hive replaces traditional gas fees with a stake-based \"Resource [Credits](https://iq.wiki/wiki/credits)\" (RC) system. [\\[8\\]](#cite-id-cXTedidoueyOK0R9)\n* **Transaction Finality:** The network's DPoS implementation achieves one-block irreversibility, meaning transactions are considered final within 3 seconds. [\\[3\\]](#cite-id-fDuhpAQJg6IIcQhG)\n\n### Resource Credits\n\nInstead of charging per-transaction fees, Hive uses a \"freemium\" model based on Resource Credits. Users stake HIVE (as Hive Power) to receive an allotment of RCs. These credits are consumed when performing on-chain actions like posting, voting, or transferring funds. RCs regenerate over time, allowing active users with sufficient stake to transact for free. New accounts are provided with a starting amount of RCs to facilitate initial activity. [\\[1\\]](#cite-id-55ip0twbo29) [\\[2\\]](#cite-id-wrlkSVjSnG6xmvdF)​\n\n### Account System\n\nHive accounts feature human-readable usernames, which also serve as [wallet](https://iq.wiki/wiki/cryptocurrency-wallet) addresses. The system includes a hierarchical key structure to enhance security:\n\n* **Owner Key:** The master key used for account recovery and changing other keys.\n* **Active Key:** Used for sensitive operations like fund transfers and governance votes.\n* **Posting Key:** Used for social actions like posting, commenting, and voting.\n* **Memo Key:** Used to encrypt and decrypt private messages included in transactions.\n\nA compromised account can be recovered by its designated \"Trustee\" account within 30 days of an unauthorized owner key change. [\\[2\\]](#cite-id-wrlkSVjSnG6xmvdF)​\n\n## Hive Ecosystem Tokens\n\n### HIVE and Hive Power (HP)\n\nHIVE is the native liquid [cryptocurrency](https://iq.wiki/wiki/cryptocurrency) of the [blockchain](https://iq.wiki/wiki/blockchain). It can be staked in a process called \"powering up,\" which converts it into Hive Power (HP). HP represents a user's vested interest in the network and grants them influence over reward distribution (curation) and governance, such as voting for witnesses and DHF proposals. Unstaking HP, or \"powering down,\" takes 13 weeks, with the funds released in equal weekly installments to protect the network from rapid capital flight. [\\[2\\]](#cite-id-wrlkSVjSnG6xmvdF)​\n\n### Hive Dollar (HBD)\n\nHive Dollar (HBD) is the native algorithmic stablecoin of the Hive ecosystem, designed to be pegged 1:1 with the U.S. Dollar. [\\[9\\]](#cite-id-N4thru64opg7yIdT) [\\[10\\]](#cite-id-h8HAkvVCir2mIlkQ)​\n\n#### Peg Stability Mechanism\n\nHBD maintains its peg through two on-chain conversion operations that create an arbitrage framework:\n\n* **HBD to HIVE Conversion:** Users can convert HBD into an equivalent of 1.00. [\\[9\\]](#cite-id-N4thru64opg7yIdT)\n* **HIVE to HBD Conversion:** This collateralized operation allows users to convert HIVE into HBD. It also takes 3.5 days to complete, with a 5% fee charged on the value of the conversion. The fee is burned, creating a deflationary effect on the HIVE supply. [\\[9\\]](#cite-id-N4thru64opg7yIdT)\n\n#### HBD Savings\n\nHBD holders can deposit their tokens into a dedicated on-chain savings account to earn interest. The Annual Percentage Rate (APR) is variable and is determined by the consensus vote of the Hive witnesses. As of late 2025, sources report this rate to be around 20%. Funds deposited into savings are locked, and withdrawals require a 3-day unlocking period. [\\[9\\]](#cite-id-N4thru64opg7yIdT) [\\[10\\]](#cite-id-h8HAkvVCir2mIlkQ)​\n\n#### Risk Management: The Haircut Rule\n\nTo protect the ecosystem from excessive debt, the Hive protocol includes a built-in safety mechanism called the \"Haircut Rule.\" This rule activates if the total [market capitalization](https://iq.wiki/wiki/market-capitalization) of HBD reaches or exceeds 30% of the market capitalization of HIVE. When triggered, the protocol temporarily deactivates the HIVE-to-HBD conversion and modifies the HBD-to-HIVE conversion to return slightly less than $1.00 worth of HIVE per HBD. This intentionally breaks the peg in a controlled manner to reduce the system's overall debt ratio. [\\[9\\]](#cite-id-N4thru64opg7yIdT)​\n\n### Inflation\n\nHive launched with a decreasing inflation rate, which started at 9.5% and lowers by approximately 0.5% each year until it reaches a terminal rate of 0.95% per year. The newly created HIVE tokens are distributed as follows:\n\n* **65%** to the Reward Pool for content creators and curators.\n* **15%** to Hive Power (HP) stakeholders.\n* **10%** to Witnesses for block production.\n* **10%** to the Decentralized Hive Fund (DHF). [\\[2\\]](#cite-id-wrlkSVjSnG6xmvdF)\n\n## Governance and Monetization\n\n### On-Chain Governance\n\nHive's governance is decentralized and managed by its stakeholders. Key decisions, such as protocol upgrades (hardforks), require the approval of at least 17 of the top 20 consensus witnesses, who are elected by stake-weighted voting. [\\[2\\]](#cite-id-wrlkSVjSnG6xmvdF)​\n\n### Decentralized Hive Fund (DHF)\n\nThe DHF is a community-governed treasury funded by 10% of the blockchain's inflation. It operates as a [decentralized autonomous organization](https://iq.wiki/wiki/dao) (DAO) where community members can submit proposals for development, marketing, or other projects to benefit the ecosystem. HP holders vote on these proposals, and those that receive enough support are funded directly from the DHF. [\\[8\\]](#cite-id-cXTedidoueyOK0R9)​\n\n### Proof-of-Brain (PoB)\n\nProof-of-Brain is the content monetization mechanism that distributes rewards from a dedicated pool funded by 65% of Hive's inflation. When users publish content, other members can vote on it for a 7-day period. The weight of a vote is determined by the voter's Hive Power. At the end of 7 days, the rewards for the post are finalized and split: 50% to the author and 50% to the curators (voters). This system is designed to reward the creation and discovery of quality content. [\\[2\\]](#cite-id-wrlkSVjSnG6xmvdF)​\n\n## Adoption and Ecosystem\n\nThe Hive ecosystem includes hundreds of dApps, APIs, and front-ends. [\\[1\\]](#cite-id-55ip0twbo29)\n\n* **Applications:** Major applications on Hive include the play-to-earn game *Splinterlands*, the social front-ends *PeakD* and *Ecency*, the video platform *3Speak*, and the microblogging service *DBuzz*. [\\[11\\]](#cite-id-VZ4bBCETaSnVjEpx)\n* **Wallet Support:** The Hive ecosystem is supported by browser extensions like *Hive Keychain* and mobile wallets. It also has hardware wallet support through Ledger devices. [\\[12\\]](#cite-id-5NHWR7AHoQTuj1nj) [\\[8\\]](#cite-id-cXTedidoueyOK0R9)\n* **Exchange Listings:** The HIVE token is available on numerous centralized and decentralized exchanges, including [Binance](https://iq.wiki/wiki/binance), [Upbit](https://iq.wiki/wiki/upbit), [HTX](https://iq.wiki/wiki/huobi), Gate.io, and [MEXC](https://iq.wiki/wiki/mexc). HBD is primarily traded on [Upbit](https://iq.wiki/wiki/upbit). [\\[11\\]](#cite-id-VZ4bBCETaSnVjEpx) [\\[13\\]](#cite-id-B1BLz7VxPdzzPTSz)\n* **Partnerships:** Hive has engaged in various sponsorships and partnerships, including a long-term collaboration with esports organization Mazer Gaming and sponsorship of a World Rally Championship (WRC) team. [\\[14\\]](#cite-id-sQ9AfYRw2s3QTsCV)","summary":"Hive is a Decentralized information-sharing network with an accompanying blockchain-based financial ledger.","images":[{"id":"QmZ9yvPDb7VsNaXX3HAu8F3gFhtPLykXRUco9iqZbgi3EZ","type":"image/jpeg, image/png"}],"categories":[{"id":"cryptocurrencies","title":"Cryptocurrencies"}],"tags":[{"id":"Protocols"},{"id":"Blockchains"}],"media":[{"id":"QmWBd8DzJr1K8nhRRUJWSNzj8n4M4gCNKiL3FPY3YPWzXv","size":null,"name":"Cópia de Design sem nome (4).png","type":null,"source":"IPFS_IMG"},{"id":"QmYzuT49kJKSbArJpKb9zdWm3XEnT5NSELH8CGwXmppndM","size":null,"name":"Cópia de Design sem nome (3).png","type":null,"source":"IPFS_IMG"},{"id":"QmWS3NyzwDCi6hR81Z9upWC2owy6Fv4pJQqVt2qwbmXYQj","size":null,"name":"Cópia de Design sem nome.png","type":null,"source":"IPFS_IMG"}],"metadata":[{"id":"website","value":"https://hive.io/"},{"id":"twitter_profile","value":"https://twitter.com/hiveblocks"},{"id":"youtube_profile","value":"https://www.youtube.com/channel/UCwM89V7NzVIHizgWT3GxhwA"},{"id":"telegram_profile","value":"https://t.me/hiveblockchain"},{"id":"github_profile","value":"https://github.com/openhive-network/hive"},{"id":"references","value":"[{\"id\":\"55ip0twbo29\",\"url\":\"https://hive.io/\",\"description\":\"Hive website\",\"timestamp\":1661021895992},{\"id\":\"wrlkSVjSnG6xmvdF\",\"url\":\"https://hive.io/whitepaper.pdf\",\"description\":\"Hive Whitepaper\",\"timestamp\":1764455540486},{\"id\":\"fDuhpAQJg6IIcQhG\",\"url\":\"https://github.com/openhive-network/hive\",\"description\":\"Hive GitHub repository\",\"timestamp\":1764455540486},{\"id\":\"u7bSYw5kzUrjRZXr\",\"url\":\"https://hiveblocks.medium.com/launch-of-hive-the-blockchain-for-web-3-0-2099a7434ce8\",\"description\":\"Hive Launch Announcement\",\"timestamp\":1764455540486},{\"id\":\"DZ3zMCZQBCfco35U\",\"url\":\"https://coinmarketcap.com/currencies/hive-dollar/\",\"description\":\"CoinMarketCap: Hive Dollar\",\"timestamp\":1764455540486},{\"id\":\"pTRFJ25H76hGQ30W\",\"url\":\"https://hiveblocks.medium.com/equilibrium-is-coming-hive-hardfork-25-33a8f5713437\",\"description\":\"Hive Hardfork 25 Announcement\",\"timestamp\":1764455540486},{\"id\":\"JcaAD5rsQl77WOEr\",\"url\":\"https://x.com/hiveblocks/status/1726227246187761899\",\"description\":\"Hive Hardfork 28 Completion\",\"timestamp\":1764455540486},{\"id\":\"cXTedidoueyOK0R9\",\"url\":\"https://developers.hive.io/\",\"description\":\"Hive Developer Portal\",\"timestamp\":1764455540486},{\"id\":\"N4thru64opg7yIdT\",\"url\":\"https://hive.io/hbd/\",\"description\":\"HBD - The Hive Backed Dollar\",\"timestamp\":1764455540486},{\"id\":\"h8HAkvVCir2mIlkQ\",\"url\":\"https://www.cryptohopper.com/currencies/detail?currency=HBD\",\"description\":\"Cryptohopper: HBD details\",\"timestamp\":1764455540486},{\"id\":\"VZ4bBCETaSnVjEpx\",\"url\":\"https://hive.io/eco/\",\"description\":\"Hive Ecosystem dApps\",\"timestamp\":1764455540486},{\"id\":\"5NHWR7AHoQTuj1nj\",\"url\":\"https://hiveblocks.medium.com/hive-support-on-ledger-devices-is-here-9d92b77543a\",\"description\":\"Hive Ledger Support Announcement\",\"timestamp\":1764455540486},{\"id\":\"B1BLz7VxPdzzPTSz\",\"url\":\"https://www.coingecko.com/en/coins/hive\\\\_dollar\",\"description\":\"CoinGecko: Hive Dollar Markets\",\"timestamp\":1764455540486},{\"id\":\"sQ9AfYRw2s3QTsCV\",\"url\":\"https://hive.blog/@hiveio/hive-5-celebrating-our-5th-anniversary-as-hive-and-what-a-journey-it-has-been\",\"description\":\"Hive 5th Anniversary Post\",\"timestamp\":1764455540486}]"},{"id":"coinmarketcap_url","value":"https://coinmarketcap.com/currencies/hive-dollar/"},{"id":"coingecko_profile","value":"https://www.coingecko.com/en/coins/hive_dollar"},{"id":"previous_cid","value":"\"https://ipfs.everipedia.org/ipfs/QmSoNb1ivVsjHxpVfzyRBGmLFBPeXPpmBZe8qLo67B5MNg\""},{"id":"commit-message","value":"\"Updated ID and added Hive blockchain\""},{"id":"previous_cid","value":"QmSoNb1ivVsjHxpVfzyRBGmLFBPeXPpmBZe8qLo67B5MNg"}],"events":[],"user":{"id":"0x8af7a19a26d8fbc48defb35aefb15ec8c407f889"},"author":{"id":"0x704E3d9c38E339b15631C1bedd7aCfd476ADB7a6"},"operator":{"id":"0x1E23b34d3106F0C1c74D17f2Cd0F65cdb039b138"},"language":"en","version":1,"linkedWikis":{"blockchains":["hive"],"founders":[],"speakers":[]},"recentActivity":"{\"items\":[{\"id\":\"851fdc0c-87f9-414c-bcf4-537cedbff51f\",\"title\":\"Hive\",\"description\":\"Hive is a Decentralized information-sharing network with an accompanying blockchain-based financial ledger.\",\"timestamp\":\"2025-11-29T22:43:39.455Z\",\"category\":\"Wiki Update\",\"status\":{\"icon\":\"RiGlobalLine\",\"label\":\"Wiki Updated\",\"iconClassName\":\"text-green-500\"},\"user\":{\"name\":\"0x704E3d9c38E339b15631C1bedd7aCfd476ADB7a6\",\"address\":\"0xd5893989b9952c6568a99F854795AcC5Ae480D56\"},\"button\":{\"label\":\"View Summary\",\"icon\":\"RiFileTextLine\"},\"summarySections\":[{\"title\":\"Title\",\"subtitle\":\"The wiki title was updated.\",\"variant\":\"modified\",\"changeCount\":1,\"changes\":[\"Changed title from 'cryptocurrencies' to 'Cryptocurrencies'.\"]},{\"title\":\"Content\",\"subtitle\":\"The article content was completely rewritten and restructured, replacing old sections and adding extensive new information.\",\"variant\":\"modified\",\"changeCount\":11,\"changes\":[\"Removed section 'Overview'.\",\"Removed section 'Features'.\",\"Removed section 'Hive technology and scalability'.\",\"Removed section 'Hive governance and software development'.\",\"Added a new introductory section summarizing Hive's features, history, and tokenomics. [[1]](#cite-id-55ip0twbo29) [[2]](#cite-id-wrlkSVjSnG6xmvdF) [[3]](#cite-id-fDuhpAQJg6IIcQhG) [[4]](#cite-id-u7bSYw5kzUrjRZXr) [[5]](#cite-id-DZ3zMCZQBCfco35U)\",\"Added new section 'History' detailing the fork from Steem and subsequent upgrades. [[2]](#cite-id-wrlkSVjSnG6xmvdF) [[3]](#cite-id-fDuhpAQJg6IIcQhG) [[6]](#cite-id-pTRFJ25H76hGQ30W) [[7]](#cite-id-JcaAD5rsQl77WOEr)\",\"Added new section 'Technology and Architecture' explaining the DPoS consensus, core features like Resource Credits, and the account system. [[1]](#cite-id-55ip0twbo29) [[2]](#cite-id-wrlkSVjSnG6xmvdF) [[3]](#cite-id-fDuhpAQJg6IIcQhG) [[8]](#cite-id-cXTedidoueyOK0R9)\",\"Added new section 'Hive Ecosystem Tokens' describing HIVE, Hive Power (HP), and the Hive Dollar (HBD) stablecoin mechanism. [[2]](#cite-id-wrlkSVjSnG6xmvdF) [[9]](#cite-id-N4thru64opg7yIdT) [[10]](#cite-id-h8HAkvVCir2mIlkQ)\",\"Added new section 'Inflation' outlining the token distribution model. 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