Hive Dollar price is $0.97985400
| Market Rank | #855 |
|---|---|
| Market Cap | $ 33.9M |
| Volume 24h | $ 49.8K |
| Circ. Supply | 34.6M |
| Total Supply | 34.6M |
| Max Supply | ? |
Hive Dollar (HBD) has recently decreased in price. At the moment, the price of one HBD is approximately $ 0.97985400.
Hive Dollar (HBD) is a stablecoin cryptocurrency that operates on the Hive blockchain. It is designed to maintain a close parity with the US Dollar, aiming for a 1:1 ratio. HBD provides the Hive ecosystem with a less volatile cryptocurrency option compared to its counterpart, Hive (HIVE), which is the main cryptocurrency of the Hive platform.
Hive Dollar works by leveraging the underlying technology of the Hive blockchain. Users can obtain HBD by converting Hive (HIVE) through an internal market on the Hive blockchain or by participating in the platform's content creation and curation, where rewards can be allocated in HBD. To maintain its peg to the US Dollar, HBD uses a mix of market mechanisms and financial incentives for traders and holders.
Hive Dollar is deeply integrated into the Hive blockchain - a decentralized, community-driven content platform similar to a social network. The Hive blockchain is designed to facilitate fast, free transactions and a robust decentralized application (dApp) environment. HBD serves as a stable currency within this ecosystem, allowing users to transact, participate in decentralized finance (DeFi) applications, and hedge against cryptocurrency market volatility while remaining within the Hive platform.
The value of Hive Dollar is maintained through market mechanisms on the Hive blockchain. It aims to stay pegged to the US Dollar, but fluctuations can occur. The system utilizes mechanisms such as interest rates for holding HBD and the conversion process between HIVE and HBD to incentivize the maintenance of the peg.
Hive blockchain utilizes Delegated Proof of Stake (DPoS) as its consensus mechanism, which is a variation of the traditional Proof of Stake model. In DPoS, token holders vote for a select number of delegates who are responsible for validating transactions and securing the network. This system promotes decentralization and allows for quick and efficient transaction processing within the Hive ecosystem.
The current circulating supply of Hive Dollar (HBD) is 34.6M, while it does not have a maximum supply like some cryptocurrencies since it functions as a stablecoin. The supply will fluctuate based on the economic activities and market demands within the Hive blockchain ecosystem.
Within the Hive ecosystem, Hive Dollar serves as a stable value store and medium of exchange. It's especially useful for content creators, consumers, and investors who prefer stability in transactions and rewards over the volatile nature of typical cryptocurrencies. It also plays an integral role in the Hive ecosystem's DeFi applications by providing a steady base currency.
Hive Dollar (HBD) can be purchased on various cryptocurrency exchanges. The most popular platforms to buy and trade HBD include Bittrex. Always ensure to use reputable exchanges and do your due diligence before trading.
To keep your Hive Dollar safe, it is recommended to use trusted wallets that support HBD. Good practices include using hardware wallets for large amounts, enabling two-factor authentication, keeping your private keys secure and offline, and maintaining regular backups. Always be cautious of phishing sites and never share your private keys with anyone.
You can buy Hive Dollar (HBD) in the cryptocurrency marketplaces where it is listed. The main exchanges currently offering HBD are Bittrex. Remember to consider transaction fees, withdrawal limits, and security features when selecting an exchange.
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