What is HIVE?

Cryptocurrency HIVE is born

Hive (HIVE), a cryptocurrency newly born from Steem (STEEM)’s hostile hard fork , is making a good start.

HIVE is a new currency created with the aim of breaking away from the current environment surrounding Steem, led by the community. The hard fork was successful on the 20th, and trading has already started on major cryptocurrency exchanges such as Bittrex.

What attracted attention was that the newly born HIVE exceeded the price of STEEM. While STEEM has been around 20 yen, HIVE has risen to about 25 yen this week.

The situation where the supply of HIVE is not reflected on the data site. On the other hand, even if the price is calculated for currencies other than the founder’s compensation (about 20%) that was the target of the snapshot at the time of hard fork, it is said that the community-led currency has high value. It will be a noteworthy case.

The 24-hour volume of HIVE at Bittrex is approaching $ 28,500 (about 3,170,000 yen), while STEEM is $ 49,500 (about 5.5 million yen).

The Hive.io team, which proposed the hard fork, also reported the success of the launch, as well as the listing on Bittrex and the fact that many dApps are up and running.

HIVE was born from a hostile hard fork, but the conflict began when Justin Sun, the founder of the crypto currency TRON, owned a large amount of STEEM. The STEEM community has expressed concern over the loss of decentralized mechanics and is in conflict over chain leadership . After that, a hard fork was made on the 20th, and it was decided to branch into two currencies.

Hard forks that branch into two incompatible crypto currencies have been done in the past with Bitcoin (BTC) etc., but it is extremely rare that the newly born currency exceeds the value of the original currency .

For future HIVE, some plans have been announced immediately, such as upgrading to fix problems and add new features. The announcement emphasized that the purpose of HIVE is to establish a truly decentralized community.

Currently, there are other exchanges that are considering listing HIVE. The air drop Exchange which has promoted the plan also six. Last week, Binance announced a response to this hard fork.

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