Hello to the entire HIVE community!

This article is the first in a series of articles that aim to analyze (sometimes in a technical way) this ecosystem with all its subsystems (Ecency, Leofinance, Peakd, etc.)

With this article we start with the Hive ecosystem, then take a ride in our imaginary DeLorean and return to May 2020.

The Fork

As we all know, Hive was born on the "ashes" of Steemit.
The famous Steemit blog, is based on the Steem blockchain, and all articles, posts, photos, etc. etc. are recorded on that. As a result of differing views of some of the founders, the working group split, and out of this split, a new blog solidly based on the Hive blockchain was born.
In fact, on March 20, 2020, the hard fork is announced; the Steem blockchain will continue to function, but another one named Hive will be born.

The new blog

Basically the usage is very similar to the Steemit blog, and especially the tolkenomics has the same basis.
This is the Eros wallet (yes, before we started blogging we sifted through all the possibilities of crypto blogs there were) and as we can see as layout is the same as Hive, one important difference is the possibility to link the Tron wallet.

Another difference between Steem's blockchain and Hive's is the duration of the Power Down: on Steem it is 4 weeks, while on Hive it is longer and lasts 13 weeks. We could consider it more conservative tokenomics.

Also on the Hive blockchain, the returns are slightly lower (2.92 Steem versus 2.84 Hive)
As you can see the GUI is very similar.

Mind you, this is not a sterile comparison about the two platforms, this is to make you understand that much of what was thought out and designed for Steemit had and still has a very good foundation that the splitting of the team was able to enhance with the creation of Hive!

Tokenomics

Hive.blog leverages the Hive blockchain and on it, in addition to using the actual Hives, it has formed 2 other tokens: the Hive Power and the Hive Backed dollars.
The genius of the blogging project is in the use of these tokens to democratically attribute the blogger's reputation.

Let us now see how these tokens work:

• Hive token (which in fact, having a proprietary blockchain is a real coin).
  The Hive token is a simple token that can be bought and sold like any other token. Since the Hive blockchain has DPoS validation, Hive tokens can be held in staking to get a reward, which is about 2.86 percent.

• Hive Power tokens
  When staking Hive tokens, these tokens are named Hive Power, to indicate the reputation of the blogger's vote.

• Hive Backed Dollar Tokens
  These tokens are tied to the value of the dollar 1:1

Can you understand the genius of the ecosystem? Let me explain!

Well, I buy 50 hives and transfer them to my wallet, as soon as they arrive I turn them into Hive Power: I put them in STAKING!

With these tokens in staking, I help the network validate the blocks and thus become an active part (even in my small of 50 hives!) of the blockchain.
Also with this force, I have the ability to vote positively (or negatively) on any post by another blogger.

Someone observant might ask: Agreed that we are talking about a DPoS blockchain, but where do we get the transaction costs from?

Good question!

Every user of Hive.Blog has credits available to be able to fund their movements: comments, Upvote, publishing. Once you run out of available credits, you have to wait a certain period to replenish them.
Obviously, as one's profile grows, RCs increase giving the opportunity to increase interactions and bring growth to the whole ecosystem.

Here, for example, are the RCs of my profile

Ah, then I understood: I buy 1000000 hives when the price is low and turn them into HP and I bought my profile weight!

Wrong, I said the ecosystem is brilliant, so the developers thought of that too; in fact, next to the profile avatar there is a little number, and you don't buy that!

To make it grow you have to bring value to the community through articles, posts, exchanging views with other bloggers.
It is basically a weighted average of all Upvotes received.
Yes it is a weighted average, in that Upvotes from major profiles carry more weight than those from smaller profiles.
All perfectly in line with meritocracy and the desire to bring value!

In short, it is as if through the keyboard we are chatting with people on the other side of the world who have a view diametrically opposed to our own-a nice way to be able to get a three-dimensional view of one of our ideas.

But the surprises are not over, in fact both RCs and HPs can be delegated, i.e., it is possible to "lend" HPs to give important profiles a way to perform article curation with more incisiveness; while RCs can be delegated to give willing profiles a chance to be able to continue interacting despite the fact that their own RCs have ended.

Now, surely these are things that many of us already know, but doesn't it sound really ingenious?

This article will be followed by others to understand every aspect of this blog, if you want to enter and start writing too, click HERE!