Hive, Hive Power and Hive-Backed Dollars Explained | LeoFinance Podcast Clips
There are 3 primary “currencies” on the Hive blockchain network. HIVE, HBD and HIVE POWER. HIVE POWER (HP) is a “currency” in quotes because it is not actually a tradable currency.
Instead, it is a variation on the HIVE currency indicated in an illiquid form that allows for power over the network. HP is the main thing that users are focused on as it allows one to influence the direction of the rewards pool, decentralized proposal voting for developments on-chain and also for witness voting (block validators).
Holding 1 HIVE POWER is the same thing as holding 1 HIVE. The only difference is that 1 HIVE POWER is illiquid and 1 HIVE is liquid. The 1 HIVE POWER has the ability to influence stake-based voting and the 1 liquid HIVE does not.
Learn more about Hive at https://leofinance.io/hive
Watch our “Complete Guide to Hive” on YouTube: https://youtu.be/Og7hRmy1p1I
