What is Hive Dollar? The Hive Dollar (HBD) is a stablecoin that runs on the Hive Blockchain and tracks the US dollar in a 1:1 ratio. cryptocoin.com In this article, we have compiled the answers to the questions that investors wonder, such as what the Hive Dollar is, what it offers, what is HBD, and how to buy it. Let’s examine together this stablecoin that powers the Hive ecosystem.
What is Hive?
Before we move on to Hive Dollar, we need to explain the Hive network. This network is a Blockchain-based social dApp ecosystem. This network, which has high scalability and security, hosts many decentralized applications (dApps). These dApps can have their own tokens and sub-ecosystems. The Hive Dollar is a stablecoin that powers this ecosystem. Currently, Hive has 9 games, 18 social, 10 NFT dApps.
Within these dApps, users can benefit in areas such as staking and content production. By doing this they get HIVE as the native token of the platform. With block times of less than three seconds, Hive aims to decentralize industries such as content production and gaming. However, the network maintains its speed with the Delegated Proof-of-Stake mechanism. This mechanism allows users to earn passive income by staking HIVE tokens.
What is Hive Dollar?
The Hive Dollar (HBD) is a stablecoin asset that powers the Hive network. The term stablecoin refers to cryptocurrencies whose value is tied to fiat currency or commodities. In this context, HBD is a stablecoin that follows the value of the dollar at a ratio of 1:1. With this token, users can transfer their money to fiat currency without logging out of the Blockchain. They can also convert HBD to the ecosite’s native token HIVE and HIVE to HBD in dollar equivalents for free.
What does HBD offer?
Hive Dollar currently serves as a decentralized stablecoin in the HIVE ecosystem. The network uses HIVE token to make HBD highly decentralized and secure. Accordingly, HBD is backed by the HIVE token. However, the Hive Dollar is currently offering one of the highest stablecoin staking returns on the market. Accordingly, users lock their HBD assets with a certain maturity. When they expire, they earn additional token rewards.
What is Hive Dollar? How to take HBD?
Hive Dollar is a stablecoin currently traded on many cryptocurrency exchanges. Accordingly, HBD is currently available for purchase on Bittrex, Upbit, Blocktrades and Hive. Interested investors need to access and become a member of one of these platforms. After that, they can purchase the token by depositing an asset in their wallet that matches the HBD trading pairs.
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