What is Hive (HIVE)? How To Buy HIVE Token In India?

What is Hive (HIVE)?

Hive blockchain is a community drive hard fork of the Steem blockchain (STEEM), created with the goal to remove centralization from Steem blockchain. It is an immutable and scalable social network of applications where users can connect, create and share content, participate in discussions, build and engage with dApps, and more to earn rewards. Hive offers three-second zero-fee transactions, storage, and fast retrieval of vast amounts of content. Hive is Graphene based, which makes it an ideal platform for the development of dApps and projects.

HIVE and USD-pegged HBD stablecoin are two native crypto classes of the Hive network. HIVE coin is liquid crypto of the hive ecosystem which can be traded, staked(Hive Power-HP), bought, and sold. 

Who are the Founders of Hive?

The Hive network resulted from the conflict between Justin Sun(TRON CEO) and Steem community. The network was founded and developed by community members as a decentralized and independent fork of the Steem blockchain, where users have control of the network and its governance.

How does Hive work?

The Hive network comprises a Hive ecosystem, secure wallets, a Decentralised Hive Fund(DHF), and Hive Backed Dollar(HBD). The features of the network are as follows:

• Consensus Protocol: The hive network uses Delegated Proof of Stake(DPoS) to verify and validate transactions for creating new blocks. Blocks are produced every 3 seconds and are signed by 20 consensus witnesses who are selected based on total Hive Power supporting them through individual approvals.
• Protocol Changes: About 17 of the 20 consensus witnesses either accept or reject the protocol changes in Hive. They are the one who accept changes by updating their nodes. These protocols are proposed, developed, and prepared transparently and are open source from initiation to their final release.
• Governance: The hive network has a decentralized governance system where users are required to stake their assets (represented by locked coins) to participate in various aspects of the network. Once staked, users can participate in governance by voting on proposals and electing consensus witnesses.

What makes HIVE Unique-Use Cases?

• Network users can partake in various activities like blogging, community discussions, building and engaging with apps, playing games, etc., to earn rewards without investment.  
• Hive can host both short and long-form content that the community can curate and reward.
• Hive blockchain is capable of storing massive data securely and making it available for time-based monetization.
• All content is stored on the blockchain and retains its original integrity.
• It offers an easy-to-integrate and adaptable platform for developers to build, deploy and run decentralized applications. 
• Users can stake their coins to vote and participate in the development of the network, as it is also a governance token.

Hive (HIVE) Price Analysis

Source: TradingView

• The HIVE price today is running at $0.3745, with a 24-hour trading volume of $3,859,416. The HIVE price has seen a drop by about 2.14% in the last 24 hours. The market cap of HIVE is standing at $181,224,392, as of May 11, 2023.
• The price has been seeing a drop to its resistance of $0.38 levels in May, with a possibility to rise in the coming days.
• If the bulls strike the HIVE price by the end of May 2023, the price of the token can reach the $1 mark by the starting of H2 2023.

How to Buy HIVE Coins in India?

To buy Hive Token in India, just follow the below-mentioned steps:

• Download the CoinDCX App on your Smartphone
• Enter the details required for registration.
• Complete KYC
• After your profile is verified, fund your wallet and buy an HIVE