There is a wave of crypto projects in the cryptocurrency field because lots of projects come and go, and you can notice one pattern there, and that is projects rising at a fast speed, and also they fall like a bubble. However, Hive is a project that is different than those bubbles. Hive is like a hard stone; even in the bear season, it happens because the hive has a next-level system. A system where community is the first priority, decentralization, and transparency. So Hive is designed for long-term stability.
Operations Without Central Authority Disturbance
Hive's core model is operations without centralization, and the system is already set for community-driven operations. This is why Hive is different. Single entity or corporate board making decisions, then this kind of centralization harms the people, but a hive has a community, witnesses that are elected by the community and the hive power holders, and these are the factors that support the whole hive economy. The powers are in the hands of people, and you can be a developer, curator, content creator, and investor on Hive and be a part of the incredible community.
Transparency, this is the word that is hated by centralized authorities in the world. They run away from transparency, but it is reversed in Hive blockchain because Hive governance has the biggest benefit, which is transparency. There are actions like witness votes, funding proposals, and even other activities that are visible to the public. If any project has transparency, then users' trust increases automatically, and here you are free from background manipulation that happens on projects that are not transparent.
Electing Witnesses on Hive
Let's understand how witness voting works so hive users have hive power, and they can use that hive power for the witness voting. Witnesses are a big group of people who maintain the blockchain and also work for it, and you can vote for your favorite witness. If you see that any witness is working hard for the community's future and development, then you can vote for them. So now you can understand that witnesses have two main works: work for the community and produce a block. Yabapmatt is the greatest example on Hive. He is a man behind the Splinterlands and Hive-Engine, also he is a witness on Hive. Top witnesses decide what to implement and what to change based on proposals. It is not like someone has decided to change something, and that happens immediately. No.
Hive has DHF, whose full form is decentralized hive fund. If you have ideas for marketing and any type of technical development for the hive community's well-being. You can propose to get funding. The next step will be voting by the hive's stakeholders, and that vote will decide the future of that proposal. Hive power holders can reject or approve your proposal. This is what is called a community-driven system. You can see Hive is not just surviving here in crypto, but slowly and steadily growing instead of an instant bubble. Also, this is the reason that the hive economy is sustainable.
Community with Long-term Stability. Slow and Steady Growth
It is difficult to find a community with long-term stability, and Hive has this. That's the reason Hive is unique, and projects like hive are gold. Do you remember that the resource credit is not a very old feature on Hive, and the community demanded it in the past? And after completing the decentralization process that I mentioned above, this change happened, and you can see how useful that feature is. This RC model is a great use case for the hive. It is also not as expensive as you see on other blockchains because if you hold just a few hives, then you will be able to generate enough RC for daily activity.
Conclusion
So RC is increasing the demand for Hive, and this is one more use case added for Hive. Anyway, I hope you liked this post about the role of hive governance for long-term stability. Please share this post and also leave a comment below. Have a good day.
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 | Hi I am lucky ali from gujarat, india. I am a crypto enthusiast, blogger, and SEO developer. You can find me on hive, twitter and discord (Lucky Ali#6343). Sharing is caring. Thank you, hive family ♥ |
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