The HIVE FAQ πŸ˜²βš οΈπŸ“’

g8yp4c.png

Motivation...

Since I have seen lots of repeated questioning out there (comments, discord, etc) and attempting to not get the head of @ats-david cracked up in half, I have decided to help clear some confusions if I can.

Therefore I am throwing this post (which will probably get edited multiple times), to share some Q&A about what people perceive about the recently announcement from the next Hard Fork of STEEM, called "The Hive!", aka HIVE. Basically the attempt to continue decentralization of MANY things.

So, lets begin right away!

FAQ (being updated via comments and others)

I will be updating this section with questions/answers I see around... Also check Hive Discord.

  1. What will happen to all my posts, comments, SBD/STEEM (liquid, savings and PoweredUP), etc? Answer: It will all be mapped into the HIVE blockchain. Nothing will change, except that STEEM will be called HIVE form then on. This assumes you have switched to the HIVE blockchain of course.
  2. What do I need to do to BEEEEEE in the HIVE blockchain? Answer: Hopefully nothing. If most of the dapps migrate as well (very likely), you will feel a smooth migration and notice nothing. But if that also concerns you, then be knowledgeable that most dapps already allow you to point to specific RPC nodes, which are basically gateways to the blockchain. Hence, if you point for example @esteemapp to STEEM, you post into STEEM. If you point to HIVE, you post on there. But if you used a web front-end like https://steemit.com, then now, just use https://hive.blog instead.
  3. If I sell all my STEEM now, will I get an account? Answer: Yes, you will still have an account on the HIVE blockchain, but you will have the same exact tokens there that you had on STEEM at the snapshot time.
  4. What happens to Steem Engine tokens? Answer: "Steem Engine" is considered middle layer (between the Blockchain, like currently STEEM blocks get produced by #witnesses and the Front-end, like https://hive.blog, https://steempeak.com or https://busy.org), therefore, if they decide to migrate (most likely), it's going to be on their honor to reflect things on the new HIVE chain. Basically speaking, everything will be the same for you.
  5. After the snapshot, can I sell STEEM? Answer: If you are able too, yes. But be mindful that if 99% of all dapps and middle-layers migrate to the new chain (very likely) then you will have no one but Justin to trade with. And I am sure he will not buy your STEEM, so basically, its worth nothing.
  6. What happens to my reputation? Answer: Will be the same at the time of the snapshot. Again, you will most likely notice nothing really changed, except that now you are on the HIVE blockchain, which by the way, will be more cool and more secure than what STEEM currently is.
  7. Does our STEEM and SBD in savings get transferred over to HIVE as well? Answer: Yes. Again, everything will be mapped at the time of the snapshot.
  8. What happens to the payouts of posts that are pending payouts at the snapshot time? Answer: They will just payout on both chains.
  9. What happens to my delegations? Answer: They will just continue to be as they are if you don't change them at the time of the snapshot.
  10. What happens after the Hard Fork if I start powering down now? Answer: You will still be powering down and still receive HIVE equivalent to what you have in STEEM, but after the fork, you will be powering down HIVE instead of STEEM. And be mindful, because one of the changes after the Hard Fork is the power up governance delay. If you power up later (after the fork) you will need to wait 30 days for that power up to take effect on your voting for witnesses. Other things don't get affected (like voting posts, etc).
  11. Do I need to change any keys? Answer: No. The keys will be the same exact ones you used on STEEM.
  12. When is it advisable to change keys? Answer: Ok, this one is different. And trying to explain why many out there recommend to change your keys after the Hard Fork, the reason for that slightly confusing recommendation is because if you were using the steemit.com front-end and used for example your active key, or your posting key, or in some cases, your account password. Then it means the front-end owner (Justin Sun) "might" have your keys recorded on the logs or somewhere else. For this reason and whenever ANY other tool/front-end is compromised, you should ALWAYS change your keys if used on those tools/front-ends. When? As soon as you can. To be clear, it's not because of the Hard Fork that you should change keys OK?
  13. Do I need to change the recovery account, from @steem? Answer: You were always free to choose which account should be used for the recovery of your account. But if you don't trust @steem account, you can change it to whomever you trust.

Another ATTEMPT TO EXPLAIN aLLin1 GO!

Imagine that the Steem chain could be put into a copy machine...and at 10am EST on Friday, we run the Steem chain through this copy machine...and the copy machine spits out an exact replica (a copy) of the Steem chain. So now there are two Steem chains.

Then imagine we just slap the name "Hive" on the copy.

That's what will happen...minus the ninja-mined Steemit stake (and a few other accounts).

Probably the best explanation from @ats-david I am sure...

Hive OpenSource Repo?

Here https://github.com/openhive-network/hive

More questions?

Comment bellow and I will answer/include them on this post.


Check these Cryptocurrency πŸ’³Cards

Crypto.comCrypteriumTenXRevolutWirex
https://crypto.com/images/cards_sg/card-page-rose-gold-93d09a29.pnghttps://cards.crypterium.com/static/img/pics/card.pnghttps://images.ctfassets.net/xecblntwky6m/4DuzIWlnDW40Ksg2euYQaq/6fdfb10cc614e737c677fe01115f84fc/productCard.pnghttps://steemitimages.com/640x0/http://res.cloudinary.com/oracle-d/image/upload/v1541428832/fv1minzyjesg10zetx2q.pnghttps://img.wirexapp.com/images/t_optimize_transf/v1573412547/wirexapp/wirex30/en/en-img-card-hero.png/img

by @forykw

eSteem Footer Line
[email protected] 🌐eSteem.app | πŸ‘¨β€πŸ’»GitHub | πŸ“ΊYouTube ✍🏻 Telegram | πŸ’¬Discord
Posted with eSteem


Comments
Steemie currently dosen't allow you to make comments. If you want to write something, write it using another frontend (like Steemit)
Click there to view this post on Steemit.com
  • @florianopolis

    He said, 'Stop doing wrong things and turn back to God! The kingdom of heaven is almost here.'(Matthew 3:2)

    Bro. Eli Challenges Atheism Belief, There is No God

    Watch the Video below to know the Answer... (Sorry for sending this comment. We are not looking for our self profit, our intentions is to preach the words of God in any means possible.) https://youtu.be/QqkuNRO4Bt4 Comment what you understand of our Youtube Video to receive our full votes. We have 30,000 #SteemPower. It's our little way to Thank you, our beloved friend.
    Check our Discord Chat Join our Official Community: https://steemit.com/created/hive-182074

  • @culgin

    I think the biggest question I have is where all my favorite communities will be based in? Will it be the new Hive or Steem? I think SteemLeo had declared they will be moving to Hive but I am not quite sure what the other communities/games will do.

    It will be a difficult decision. While individual users like us can continue to post on both chains, communities will probably have to choose one.

  • @culgin

    @tipu curate

  • @simplifylife

    But be mindful that if 99% of all dapps and middle-layers migrate to the new chain (very likely) then you will have no one but Justin to trade with.

    You could sell on the exchanges I think, although the price might plummet after the fork. But there are always people trading steem even if they're not actually blogging/vlogging on the steem blockchain. I've come across quite a few people who are simply traders and never post anything on steem. They just buy and sell whatever crypto that interests them and that includes steem.

    Just my 2 cents, but yes, the price could plummet to absolutely nothing.

  • @neddykelly

    thanks for the FAQ cool tips @forykw

  • @crypto.piotr

    Dear @forykw

    Thanks for this FAQ. I resteemed it already.

    I've been trying to figure out what to think about entire situation. In my opinion - neither Justin or most old witnesses aren't to be trusted - and it's just power struggle.

    Regardless, we're all going to be affected in ways we cannot yet predict.

    Personally, I care to learn how many people I know will move to one chain or another. To see who I would lose if I choose one option or second one. Probably I will try to maintain my presence on both chains.

    Yours, Piotr

  • @cloudspyder

    I should have to remove all my delegation now in preparation in moving to Hive...

  • @wakeupkitty

    I am happy with the FAQ a part of my questions is answered. There was one more but I forgot. I still do not feel comfortable because of the German post I read. It feels as if you made not mentioned it here that those seen as the enemy are not welcome. My answer about the power down and delegations is answered now. Thank you πŸ’•

  • @daniella619

    Please don't be annoyed. Will my steem power also move to Hive?

  • @marblely

    HIVE sounds really exciting @forykw! Thank you for compiling this FAQ. Would you know if our SBI and steemauto upvotes will be copied to HIVE as well?

  • @joanstewart

    Thanks for this, the time taken to explain, found many answers from questions raised in comment stream and content above.

  • @cerati

    excellent post and quite illuminating in the middle of all this situation, I didn't know if it was going to be a copy of steem or something else. Can I make a Spanish translation in my blog? many users of my community have no idea what to decide because they don't even know what this new platform is going to be about

  • @forykw

    Update log:

    • Added some clarification on keys (12). Thanks @thehive
  • @reviewzzz

    What about the rewarding system in the new chain?

  • @belemo

    There are still a few people using Steem and I reckon they'll buy our Steem.

  • @engrsayful

    Nice thanks. Most important and confusing questions has been discussed.

  • @trendotoken

    Congratulations @forykw, your post successfully recieved 3.76947675 TRDO from below listed TRENDO callers:

    @map10k earned : 2.5129845 TRDO curation


    To view or trade TRDO go to steem-engine.com Join TRDO Discord Channel or Join TRDO Web Site

  • @nurseanne84

    Hello Piotr!

    I cannot post on the link you shared to me. i tried sending you a message on discord but apparently, we do not share the same server/browser anymore.

    For the record, though I was considering to migrate sometime in hive, I need to face the reality that although the system is stable, the things that I am familiar with like tribes, etc would take some time to be established in the system.

    In fairness to them. they are doing everything to make the experience great for everyone.

    For now, I am going to wait and see how things are going. Meaning, I will blog on steemit and hive until i could see how things are going on both sides.