Huobi has listed Hive! Read on for some helpful links to information, resources, and for the Hive × Huobi AMA transcript.
It's been an exciting week for Hive as much of the longterm hard work laying foundations for strong exchange and global community collaboration is starting to really come together! In this post you'll find all of the listing announcement details and release links, as well as a full transcript of the AMA style text chat with Huobi Global's Ciara Sun. The turnout was excellent in both the Huobi telegram group and the Hive discord, and a large number of the community hung out for a companion voice discussion during and afterwards. Some thoughtful questions were asked, and the two communities got a chance to learn more about each other. Following the AMA, some exciting giveaways were announced alongside the news that Hive will be open for trading on Huobi global.
Hive is now available as a full listing on Huobi. As part of the celebration, there are 100,000 HIVE up for grabs for some of the first depositors who use Huobi Global.
Hive users have been asking for a better chance to communicate and find common ground with Huobi, so this week has been a very positive one. Here are some links to official Huobi information on Hive giveaways and listings for you to check out.
The big news was announced in this tweet:
Huobi Global's official listing announcement: https://huobiglobal.zendesk.com/hc/en-us/articles/900000684263
🎉 Grab yourself some free HIVE! 🎉 Up to 100 people who deposit 5000 or more HIVE to their Huobi account will win an additional 1000 HIVE ... check the link below for the rules to learn more about how you can snag some 20% gains and join the party.
The Huobi Global conditions for the 100k HIVE giveaway: https://huobiglobal.zendesk.com/hc/en-us/articles/900000687166--EXCLUSIVE-Deposit-HIVE-on-Huobi-Global-to-Share-100-000-HIVE-
The AMA had over $1000 USD of HIVE in prizes for engaged users and participants!
This tweet shared the good news that thoughtful questions would be rewarded with Hive giveaways. A number of our community members walked away with HIVE prizes - a big congratulations to the lucky winners who are probably buzzing right now! Thanks for asking your insightful questions and being a part of the best community in the cryptospace.
If you weren't able to attend but would like to read the questions and answers from Hive and Huobi, here they are! You can also find them archived in the Hive discord.
Hive community member and witness @roelandp was on hand to present some crowd-sourced information about Hive to the Huobi community. A moderator asked questions about both projects and the public was able to follow and chat along.
I’m experienced in financial analysis, strategic consulting and corporate management working across Boston Consulting Group, Deloitte Consulting and Ernst & Young.
I advised Banking and Capital Markets groups for 15 major banks and performed investment analytics to support clients with billions of dollars of AUM, including hedge funds, private equity firms, and investment management corporations.
I co-founded and served as the former COO of US Multidimensional Network Technology Co.Ltd and I joined Huobi September last year!
❓ I would request you to present a brief introduction about Hive Project before taking questions from the community.
🅰️ Roeland (Hive Rep) :
Sure! Hive is a Graphene-based social blockchain launched on 03/20/2020 with the core idea of decentralization.
Hive's prime selling points are its true decentralization, speed and scalability.
Other notable features include it having the lowest entry-barrier for user adoption in the market, time delay security, integrated token allocation, and the upcoming Smart Media Token integration.
It is an ideal building location for a variety of innovative projects focused on a broad range of fields, from open source development to social games. Hive aims to be the preferred blockchain for dApp development.
❓ Is it possible for Huobi to give the Chinese citizens the opportunity to discover the platform and grant them the chance to take the opportunity to develop their talents and monetize their activities on the platform?
🅰️ Ciara Sun (Huobi Global) :
Besides playing the role as an exchange, Huobi also aims to contribute to the blockchain ecosystem by allowing our partners to leverage our resources. We want to help projects grow and to expand, as long as the project proves its worthiness to the ecosystem.
Huobi is one of the top exchanges in Asia and having Huobi's support would already provide direct exposure to the Asian crowd. For HIVE, we appreciate the community spirit and certainly, we would offer our assistance to support HIVE in whatever way that is within our reach.
What we are doing now - AMA with HIVE community together with all Huobi's communities could be considered an effort put forth by Huobi to allow the world to learn more about HIVE.
Now I believe HIVE will have at least 10 millions more supporters...morally at least :wink:
❓ How do you see Huobi benefits the Hive community as a whole? What advantages besides an exchange does Huobi bring to Hive?
🅰️ Ciara Sun (Huobi Global) :
Huobi is rather resourceful considering it was founded in 2013 and we have more than 6 years experience in the industry now. Throughout our journey, we are trying to position ourselves as the ecosystem supporter and not just an exchange, we have also established Huobi Capital, Huobi Lab, Huobi University, Huobi Charity and other smaller efforts to support the ecosystem.
With all these efforts coming into picture, a complete circle is formed where a good project could receive relevant financial assistance, the necessary guidance and education and eventually, the right strategy to present itself to the market. HIVE community could always tap on these resources of ours and put them into strategic use.
Huobi is open to all forms of partnership proposals and we are more than happy to support efforts that are beneficial to the industry.
So please throw at us if you have any idea in the future, more than happy to explore!
❓ The crypto world is becoming overcrowded with blockchain projects and tokens, what makes HIVE different from other projects?
🅰️ Roeland (Hive Rep) :
Hive is a truly grassroots example of a decentralized proof of stake (dpos) blockchain with a concrete and proven utility as a social media and app-centric ecosystem.
Hive has already proven itself to be attractive for non technical people, which is quite a feature in the blockchain world :slight_smile: It also boasts some of the fastest transaction blocktimes (3 seconds only).
There is also a substantial decentralized hive fund which allows for continuous growth of the development of the chain and the dapps building on the blockchain.
❓ I would like to know which tools uses Huobi to ensure that the tokens held on Huobi are hard/impossible to hack?
🅰️ Ciara Sun (Huobi Global) :
Huobi has about 1200 employees currently and more than 60% of them are some of the most talented developers in the market. From this you could see the kind of resources that Huobi has poured in to ensure the security of the exchange and ensuring the safety of your asset.
As a track record, we have yet to experience any major security breach throughout our history so it shows that what we have been doing is working.
Other than that, we have just introduced Star Atlas recently and it is a monitoring tool to screen cryptocurrency transactions to spot fraudulent activities. It is similar to the product by Chainalysis, Elliptic and Ciphertrace.
What we are working on is a holistic approach to the industry because with Star Atlas, criminal activities could be detected and wrong-doers will be punished, this we believe could lower the crime rate.
❓ I am a crypto investor and I only care about prospect of a crypto that I chose, tell me the reason why I should choose $HIVE token over the existing one? What is your token advantage that can convince me to change from my favorite token?
🅰️ Roeland (Hive Rep) :
Ok bear with me 🙂... Although Hive initially launched as a social media blockchain, and continues to strive to do so, more and more external (d)apps use the network.
Not only to connect to the Hive content reward mechanism but also to utilize the 3 second fast blocktime and near instant confirmation (irreversibility after 1 minute) for an array of apps.
With its flexible and easy to use, recognizable RESTfull APIs it is a breeze to implement a Hive integration to any app, whether it’s a utility, gaming, or in the social sphere.
With the continued development on Smart Media Tokens, the Hive chain will cater to those other (d)app projects willing to launch a token-based reward system, which runs on the Hive network.
As a result, Hive has a wide range of utility and organic growth. It also has the increased security that comes from a truly open source and public blockchain, where all stakeholders have a say in its direction. It sports resilience by design from the exit scams and other similar issues affecting the Altcoin community.
❓ Hive is a purely community driven project. There is no CEO, no marketing manager. How do you feel about a project with no leadership and only community? What does community mean to you? Do you believe in the decentralized movement of Web 3?
🅰️ Ciara Sun (Huobi Global) :
I believe that our constant and sincere interaction with the HIVE community has directly communicated our appreciation towards HIVE as a community driven project. We value the voices of the community and we put utmost importance to ensure the voices are heard. HIVE is a good showcase of decentralisation and community driven projects. It could be set as an example to other projects.
❓ Mass adoption is a problem for blockchain projects. So how will HIVE solve this problem in order to achieve adoption in reality?
🅰️ Roeland (Hive Rep) :
Did you know that Hive does already have more than 1.3 million wallets?
The cool thing is those wallets are named accounts, not some randomized string. Your username is your wallet address!
Hive has proven to be an entry point into the cryptoworld for many through its ease of use and plethora of apps available for using.
The Hive developer ecosystem came up with an array of open source native desktop apps, mobile apps, and browser plugins to take away the “hassle” of safely & securely handling and storing private keys.
Lowering this entry barrier of user growth, combined with fast block times and free transactions results in adoption of the blockchain by new (d)apps every day.
This is a positive spiral upwards!
❓ Huobi is one of the most important and reliable exchanges for users. Blockchain is an innovative technology but still has many obstacles from lobbies. How does Huobi intend to facilitate the spread of cryptocurrencies and their use in the world?
🅰️ Ciara Sun (Huobi Global) :
We are committed to leading the industrial upgrade of the blockchain, using blockchain technology to empower different sectors. Up till now, we have developed more than 100 different blockchain use cases in China for different industries and a number of them are underway to be adopted.
We have established Huobi Research, Huobi University, Huobi Labs, Huobi Talent and Huobi Bit Legal to encourage and facilitate the mass adoption of blockchain technology. With these facilities, we are able to offer a holistic approach when there is interest towards the technology and they allow Huobi to attend to requests from both governments and corporates in relation to high level blockchain adoption.
Blockchain and cryptocurrency are our business...so I suppose you could tell that we will exert all our strengths to push the adoption right? 😉
❓ Are the SMT going to be implemented in the near future like in the next hard fork? Or have at least an eta?
🅰️ Roeland (Hive Rep) :
Good question 🙂
Hive’s intention is to have multiple hardforks at a more frequent pace. Multiple hardforks with oversee-able and thoroughly tested changes.
Priorities first: Upcoming Hardfork24 will revolve around securing and optimizing the network. Delayed voting will be introduced which will mean that those intended to use their powered up stake will need to wait before it can use its full weight, preventing governance attacks. ...
SMTs, the Hive Smart Media Tokens for issuing tokens on top of the Hive blockchain, have long been in development and are presently on the roadmap, pending completion of preceding deliverables.
There is a group of developers working at maintaining and forwarding the pace of development.
As the SMT hardfork is one of the most substantial changes of the Hive blockchain, this is not something to think about lightly and just “flip the switch”, but rather test and reiterate.
However... an SMT-enabled testnet can already be built from the current state of the Hive core software.
SMTs are working, yet this prolonged testing phase helps flesh out to final proposition of the product.
TLDR; I am refraining from giving a final ETA for this part of the Hive blockchain to not make any false promises.
❓ I am from Pakistan, and for most of the Pakistanis it is quite difficult to buy/sell cryptocurrency/ies for the local money (Pakistani Rupees), so do Huobi has any plan to support HIVE buy/sell against Pakistani Rupees or Dollar through our Pakistani Bank Accounts.
🅰️ Ciara Sun (Huobi Global) :
Huobi vows to serve the global community and we are striving to cover as many areas as possible. Maybe for now we have not yet reached Pakistan but hopefully soon, you will see us there. Pray for us...may we have a smooth journey there.
❓ I know we are a decentralized blockchain and we don’t have a board or anything like that but, is there any organization or group going to be setting up for representing the community and do some marketing for HIVE?
🅰️ Roeland (Hive Rep) :
Hive is projected to remain a decentralized community effort with no sole official representation. Instead, community groups have and are projected to organically form and lead the promotion of Hive.
Informally, there are already companies and umbrella groups and collaborations working on marketing and code.
There are also volunteers producing posts and events like this AMA. The Hive proposal system and passionate members of the ecosystem will band together to drive grassroots or professional marketing initiatives.
Additionally, in an ecosystem where anyone can build anything and the blockchain is the skeleton that allows businesses, projects, services and dapps to flesh out their ideas, marketing Hive goes hand in hand with marketing the ventures.
In short: If you have any talents floating around and feel like you can help build Hive, join in!
❓ What does Huobi think about decentralization and the concept of community? Will it support the principles on which Hive is based or will it counteract them?
🅰️ Ciara Sun (Huobi Global) :
Decentralization is one of the key concepts in the blockchain and cryptocurrency space, and it is one of the reasons why Huobi was formed — to give the power back to the people. We are seeing a decided global movement with Web 3.0, and the awakening of the value of people’s personal data, and as part of our mission we aim to facilitate this movement. We strongly support the principles of decentralization, transparency, and trust that the technology imparts, and that means we also will support platforms like HIVE which are championing these concepts.
❓ Having a fairly varied HIVE ECOSYSTEM with games, video players and more, what other types of Dapps are you trying to achieve? What is the ultimate goal of HIVE? be used on all platforms?
🅰️ Roeland (Hive Rep) :
Alright ... So, ... the ultimate goal of Hive is to flourish as a decentralized ecosystem that can support and provide an outlet for the voices and needs of a global userbase and audience.
This is being achieved by:
having a unique content rewards and curation model to build upon
a user friendly crypto wallet with easy login flow for signing on users to (d)apps
versatile “custom JSON” blockchain object storage API.
and not to forget; fast 3 second blocktimes to get transactions executed within acceptable waiting time (1.5 seconds on average).
So far it’s been proven that Hive can be used for a wide variety of dapps.
Ultimately the goal is to create a decentralized ecosystem that is used by an ever increasing amount of dapps and users.
This has it’s challenges of course, but a lot of passionate people work day in day out on improving the Hive network.
❓ Everything in this world is censored now. Hive is built with the idea of censorship resistance. What do you feel about sustenance of censorship resistant platform?
🅰️ Ciara Sun (Huobi Global) :
You are right, censorship is something that has evolved and grown across the globes for decades, and it is only relatively recently where we have seen people fighting back against it. Some of this fight back has been down to the power of technology, namely the internet and the web of information it provides, but now with blockchain technology and its principles we have an even bigger drive for transparency, trust, and openness. It is platforms like HIVE that are actively pushing to break down walls of censorship that should be supported.
❓ Can you tell us the story how and when HIVE was founded? What is the motivation for the team to build this project?
🅰️ Roeland (Hive Rep) :
So first off... there is not "team"... Hive is a decentralized community who wanted to move forward ....
Hive was originally developed as a fork of the Steem blockchain. It was created on March 20th, 2020 as a community-driven fork.
The vision behind it was to continue the strong community values that have been established while also freeing the formerly Steem-based ecosystem from the burden of Steemit Inc’s influence.
❓ If you had infinite time and money, what would be the first thing you'd change on the Hive blockchain?
🅰️ Ciara Sun (Huobi Global) :
I don’t think the question should be what I would change about HIVE, rather what I would use the money and time to add or improve upon. HIVE is an ambitious project that is looking to break down a lot of traditional walls around centralization, censorship and limitations of freedoms. This is a noble pursuit, but one that comes with added difficulties. I think I would spend the money and time on positioning HIVE as the better alternative to what is currently offered in the traditional sense.
❓ Most of investor just focus on the price of token in short term instead of real value of project. Can you tell us the motivation and benefits for investors to long term?
🅰️ Roeland (Hive Rep) :
Yes, yes!
Hive has an active userbase and mature infrastructure for building dApps. One of Hive’s primary use-cases, social media, does not require complex integration with real-world players.
Onboarding the masses is more natural because the masses use familiar interfaces. The dApp ecosystem is innovating targeted products for niche audiences that do not require users to understand blockchain jargon.
In business terms, with a large userbase comes opportunities for synergistic monetization, and this bodes well for future token value! #notfinancialadvice
With its creation/fork, now one month ago Hive became truly independent and fully owned by the token holders (and not a centralized entity, dedicating the development cycle, with, mind you only 1.5 devs).
Bringing full ownership and control to its own community creates a unique environment where the network is owned by all. This drives passion for the network.
We have seen this in the launch of the network and the past month with many (d)app owners converting to Hive and a fired up development cycle with a code freeze for the first hardfork already on it’s way. The amount of devs working on the core software and related libraries 20 folded compared to the old chain state.
These “owners of Hive”, all token holders, are in it for the long term themselves.
By already being active on the chain for 4 years, they did not want its values to be lost under a central entity and hence poured money, time and resources to make its creation and continuation a success.
Once someone is part owner, it makes one dedicate more time and talent in their own “baby”.
❓ What is the longterm goal to keep developers attracted to HIVE?
🅰️ Roeland (Hive Rep) :
There are two parts to this; making it even easier for developers and incentivizing them to develop on Hive.
The main interface for dApps is via JSON RESTfull API nodes, and there are mature libraries for popular languages such as javascript, python, java.
The community is continuously working on improving documentation, simplifying libraries and providing tutorials via the GitLab repositories.
Hive has existing ways to incentivize developers:
Developers can create funding proposals for the Hive Fund which are voted upon by the stakeholders.
Developers can post about their activity and receive social media rewards.
A big userbase can be flipped to use your project once you offer "Hive login"
Additionally, developers might see value in contributing to a decentralized world. dApp developers that create frontends have unique monetization opportunities to reward their investment of time and skill.
New developers can follow community provided tutorials, which makes Hive an excellent choice for learning how to program for a blockchain.
https://developers.hive.io/ for all docs!
❓ (from user Deathwing) Just going to throw my question out. Are you planning to invest in projects created on HIVE? dApps and such?
🅰️ Ciara Sun (Huobi Global) :
We are not actively investing now but for sure, if the project is proven to be beneficial to the industry and also to Huobi's ecosystem, for sure we will consider, how could we say no for good project.
❓ (from user JonSnow) If the big picture is to stake and have price stability, HP should be diversified or at least try to be diversified properly. Most people on third world countries are dumpers per se due the necessity and struggles many of us are enduring. Delegations are important in this regard as to create and educate why staking is so important. If proven communities had proper delegations and educate us on why is so important to stake, we might have a chance to be on the other side; Not being dumpers, but stakers instead. What are your plans in this regard? I love your name!
🅰️ Ciara Sun (Huobi Global) :
Snow is also a lovely name too;) Well we look forward to support staking of projects that we have listed. You certainly have the point and it is about how we and the project work closely to educate. So I hope when we want kick start this effort, you will be the first one jumping out to help.
❓ (from user Rollie1212) Is there a plan of using Hive for promotions and a newsletter?
🅰️ Ciara Sun (Huobi Global) :
We will consider ❤️
❓ (from user VictoriaBSB) Is huobi declining voting rights as an exchange on hive?
🅰️ Ciara Sun (Huobi Global) :
We understand your concern and we are currently looking into options. Have faith 👍
❓ & 🅰️ Roeland (Hive Rep) :
What's the Primary Reason for Making the "DHF" or DECENTRALIZED HIVE FUND? Is this another Term for "PREMINE"?
Hive's economic model is based around inflation, which lowers annually but lies currently around 8.5%. Previously out of this inflation the content rewards were paid, as well as block producers and an insurance for "staked tokens" to safeguard them against inflation.
Nowadays the inflation is still the same... Yet another "receiver" has been added to the mix: The Decentralised Hive Fund.
❓ & 🅰️ Roeland (Hive Rep) :
What other projects have been developed using the Hive Developer Portal? As I see this Hive is a community Project, how is the organizational structure? How are the short and long term objectives defined? What determines that the goals are being reached?
Wallets, games, interfaces to the hive chain, even sidechains. You can see many of those projects listed at the directory over at https://hiveprojects.io/ for example
^ Remember the chain is one month old and check out the amount of output already!
❓ & 🅰️ Ciara Sun (Huobi Global) :
Many users in some countries got problem with barriers from their government, so it seems Fiat gateway limited. How will Huobi solve this problem for users could buy cryptocurrencies convenience?
We pride ourselves on the hard work we have our in thus far to be recognised as one of the world’s leading exchanges. With the foundation we have set over the last 6 or so years, not only as an exchange but as a global blockchain business, we feel we feel we are well set to push into the future of the space and better it. To be more specific, it is our customer focus and attention to detail, as well as heavy belief in safety and security that will not only help Huobi become more valuable in the future, but also our HT which is a vital cog in our overall growth.
❓ & 🅰️ Roeland (Hive Rep) :
I see that Hive also uses DPoS consensus, in the past, there was an attacking by centralized exchanges on Steemit which has DPoS, so could you tell me what makes Hive against to similar attacks in future?
1.With the fork the biggest thread for centralisation beyond exchanges has been removed to a community managed Decentralised Hive Fund.
- Especially to mitigate this risk of centralised exchanges and others powering up major stake, a new "delayed voting" method will be introduced in Hardfork 24. This means that one can not just instantly "stake" their liquid holdings and immediately have a say with the full power of that stake as was the case with the "attack" you refer to. Instead at first that big stake would have a very small say in governance.
❓ & 🅰️ Roeland (Hive Rep) :
Can you introduce about your Dev Team? Are they having enough qualifications and experience to deliver a world class project?
There is no "hired" Hive development team; instead, there is a decentralized group of experienced developers who are contributing and working on a regular basis, keeping a similar pace to a traditional dev team. Many of them are the people who have built the Steem blockchain that Hive is forked on and have been part of development of Graphene projects for nearly half a decade.
❓ & 🅰️ Ciara Sun (Huobi Global) :
will Houobi ever consider creating a DEX version?
Good one 🙂 We are definitely looking at it. Quite some obstacles to overcome. Quite a challenge.