What is the Hive blockchain?

Hive Blockchain is an open-source blockchain.

Hive allows all its stakeholders such as developers, users and companies to create applications that leverage blockchains’ secure and efficient data storage abilities. It gives users full control over their personal information with features such as identity protection and optional anonymity on the network.

HIve is a lot smaller than some of the other blockchain development platforms in the space and only has a few hundred dApps listed.  

Hive blockchain pros

1. Low Fees: Transaction fees are very low on the Hive blockchain, making it suitable for small payments.
2. Decentralized & Secure Governance Model: Hivers have a say in the development and direction of the blockchain and their stake protects them from malicious actors trying to take control of the network.
3. Community Focused Protocols: The Hive platform is sponsored by a vibrant community that focuses on using new protocols and technologies to build innovative applications.
4. Speed & Efficiency: Transactions on the Hive chain are faster and more efficient compared to other networks due to its consensus algorithm being designed for speed and efficiency.
5. Improved APIs : The APIs powering the Hive chain offer developers with powerful tools for creating revolutionary applications and services

 Hive blockchain cons

1. It is vulnerable to a 51% attack where a malicious user can gain control of over 50% of the network’s hashrate.
2. Hive is heavily reliant on its steemuser base, and as this user base decreases, so too does Hive’s value.
3. Although it has been used successfully in some applications, lack of development on smart contracts may be limiting for larger enterprise-level dApps.
4. Fees associated with Hive transactions can be higher than other blockchain networks due to the higher demand for resources from developers building on it.
5. As with most new blockchains there is a learning curve for users to get comfortable with the network, which could slow adoption and growth initially. 

Hive blockchain features

1. Hive offers a user-friendly interface.
2. Clearinghouse offers an instant inter-blockchain transfer mechanism for token transfers and trades.
3. Fast block times ensure quick transaction settlement times.
4. Smart Contracts for advanced features such as escrow services and decentralized exchange trading are available through the Hive virtual machine (HVM)
5. Resources staked in delegated proof of stake (DPOS) protocol ensures quick validation of blocks with minimal energy costs and environmental impact
6. Hive's Inter blockchain Communication (IBC) protocol allows cross-chain dAPP development between multiple blockchains connected to the Hive network
7. Revolt is a low-cost, decentralized payments platform built on top of the Hive blockchain, allowing users to make micropayments without relying on a central authority or third party service 8. Hivemind enables developers to create Decentralized Autonomous Organizations (DAOs) which enable more democratic decision-making processes within a distributed framework