Hi guys, my name is Lucky ali, and we are seeing a lot of scams in the Crypto World Security. In the last year, we have seen that the FTX exchange collapsed and other scams, too. But you can see that Hive stands out in this particular thing, and it has never been hacked, and that is not a coincidence, but it is tech that we are going to talk about here. So the reasons behind this are a Proactive community, a Stronger commitment to decentralisation, and smart design. So these three factors that Hive has are the reasons Hive is a safe place for the users. Now let's talk about these things in detail.
No Central point of Failure
Centralization is the reason behind any hack. Because Power is not divided here, however, Hive is doing differently and avoids such a trap because decentralisation exists in the DNA of the Hive. So there is no single entity that has full control of the hive. So that particular Single entity cannot Compromise Things Because that entity does not own them, and also the single entity does not exist here. The power. Community is a power, so it is not possible to hack the whole community. That is why it is an entirely difficult task for the Bad actors. But as a community user, you are the owner, and it is your responsibility to protect your keys and apps where you log in. That is why it is always good to use Keychain rather than trusting other login methods.
Hive's Immutable governance
Apart from this, there is on-chain governance that is a key factor here. So, new updates or any changes are first proposed and then voted on by the elected witnesses, who are also called validators. And these witnesses are elected by the community. Do you remember the last Hostile takeover in the Steem that happened? And those top witnesses were thrown out of the top list; that's the reason, but it is not possible in the hive because of transparency, divided power, and a better decision-making system.
Hive is open source and audited by the community
Do you know? That anyone can inspect the code because Hive is an open source, so it does not rely Small security team. But thousands of People can contribute, So This type of open system is best, which is why Hive is getting benefit from it. So that's one of the reasons that Hive is growing perfectly growing and avoiding security breaches.
Incentivised security
Hive is designed to reward long-term thinking. For example, if you have good staking in the hive, you have the Financial Power and governance, and you can contribute to keeping the system healthy. This particular thing discourages the Malcias and scam behaviour. Encourage those who are willing to contribute to Protect and improve the Whole ecosystem of the hive.
A powerful community that cares
Community is the heart of any project and also the power Hive has Up biggest power that is its community. There are community leaders, developers, content creators, and curators who are connected and invested deeply in the building of Hive's future. So they do not only rely on the technology, but there are other important things they focus on. Such a community is very important for any project.
Conclusion
Hive is invincible, that is why it avoids many hecks and scams. It was learned from the Steem hostile takeover. So when a community learn from a Big tragedy and a big mistake, that particular community becomes more powerful. Right now, Hive is a good example for the other decentralised projects, and Hive is proving that tight security is absolutely possible, and it can be done smoothly. I hope you agree with me. Please share this content on social media and spread the information regarding it. I will meet in my next blog. Till then, take care and goodbye.
โ_________________โ___________________โ
๐ | ||
---|---|---|
![]() | 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 โฅ |