Meet BUZZ the Lil Skateboard Bee
Buzz is here to talk about the benefits of blockchain rewards on Hive.
What's the buzz with blockchain rewards?
Blockchain is a decentralized and transparent digital ledger technology that securely records and verifies transactions across a network of computers.
This system effectively operates as its own banking service with much better financial incentives than centralized fiat banking.
Essentially blockchain rewards like cryptocurrency and NFTs offer true asset ownership, nearly instant transactions, low to zero fees and varying APR rates for various earning routes.
If finance is your thing, check out the finance community on hive @leofinance
Why Do You Need to Care about Blockchain?
When the housing market crashed in 2008 the world economic system experienced a shock due to fraudulent behavior and the federal government bailed out the bad actors using tax dollar debt.
In response, Satoshi Nakamoto respectively published the bitcoin whitepaper in November 2008.
Similar sentiments are arising with the inflation rise in the cost of essentials and real estate since the pandemic when loans meant to help small businesses were abused by bad actors with zero liability.
The entire purpose of blockchain is to create a secure, transparent, and decentralized system for recording and verifying transactions and data across a network of computers.
While the central banks and IRS hold complete control over the information they report and could never pass an audit if they wanted to; the bitcoin blockchain is audited as part of the block verification every 10 minutes.
image source: https://www.pinterest.nz/pin/201676889538247942/
Since the creation of Bitcoin in 2009 the price has appreciated 48872801.79% rewarding early adopters massive gains if they sold anytime in the last four years and especially during either peak from the last bull run.
In 2010 an early adopter managed a trade of 10,000 BTC for two pizzas at a local shop for a valuation of around $300,000,000 using the price of BTC today.
At that time 10,000 BTC was worth around $40 in the exchange.
Meanwhile, $100 USD in 2008 held the same value as $150 USD today and the dollar continues to trend down as inflation is ever increasing.
Blockchain Rewards have a much higher holding return on investment than traditional finance options available through the central bank system.
If you had 10,000 BTC today, you could buy your own network of private islands like Epstein; the fearless leader of capitalism.
So How Do You Get Blockchain Rewards?
The initial rewards system for blockchain was called Proof of Work and it can still be utilized to earn tokens like bitcoin if you possess the hardware necessary to mine.
There have been many variations of this reward system now and basically every blockchain is going to use some variation of this system.
Hive uses a combination of Proof of Work(social engagements with verified blockchain transaction times) with Proof of Stake(HIVE in its powered up form allows weighted curation rewards) and is called Delegated Proof of Stake - DPoS for short.
In the mainstream social media world, your information is being gathered and sold to advertisers which allows the platform to offer some level of monetization based on traffic.
On Hive your posts can earn a delegated token based on the curators Hive Power and a scaled weight of the upvote which is paid after a 7-day period for post promotion.
Hive token creation is a community effort and requires staked support.
If you already have a following on other social media platforms, you can get paid to post your work here and receive referral rewards for onboarding new users.
Without actually investing any amount of money creators are able to receive $HIVE delegated proof of stake curation rewards from publishing valuable content to this space.
Of course, a sizable investment may see a sizable reward in any measurement.
It is important to seek for the optimization of time and energy into tokenization.
Time and research can be converted into cryptocurrency just by posting here.
It is truly an amazing invention as I am posting this from a mobile social media frontend built on top of Hive called Ecency which even has its own rewards system.
Using @ecency allows you to earn points that can be used to promote and boost your posts.
Each type of engagement is tracked and rewarded with their points which can even be traded with other users at an agreed upon price or used as a tipping mechanism for your favorite content creator.
This means for every like, comment, repost, share(with proof of work to proper platforms) and post you are able to earn second layer rewards.
With the addition of other blockchain rewards like $PRE token rewards from Presearch you can get paid for up to 10 searches per day and tokenize every aspect of the pursuit of knowledge when you share these blessings in content form.
Blockchain is about Community
Hive is a decentralized social media platform built on blockchain technology, rewarding content creators and curators with cryptocurrency tokens for their contributions.
Hive has a built-in curation reward system, but you can further increase your rewards by posting to communities for their curated upvote and niche token rewards.
If you are a content creator coming from a different platform this is really important:
The need for thousands of views to monetize your work is no longer necessary. - hive.blog/@rilo
All posts need to qualify for a payout is .02 upvote from a single person.
You can finally get paid to talk about video games over in the hive gaming community!
There are so many ways to interact and earn rewards within the communities here.
Personally, I am constantly stacking tokens with the play to earn games that are on hive.
Games like @Splinterlands even offer a weekly art contest with respectable rewards and curation upvotes for participants and winners.
Sign up today to start stacking the Splinterlands $SPS governance token.
Are you getting stoked for the potential of blockchain rewards?
In the Quest for Stoke you can earn cryptocurrency rewards for playing a community backed skateboarding platformer game.
Buzz ya Lil Skateboard Bee jumping into action with some activity and engagement with the amazing @skatehive community. 🤩
Skateboarders and enthusiasts are earning rewards for their participation in this community at the most basic level of engagement.
They even have a hero or two developing and designing a second layer front end with future plans to release a skater funded token.
This community has several ways to earn rewards by curation, engaging posts with meaningful comments to posting skateboarding content and more.
Yes.
Skateboarders can make money without sponsorships by posting clips and content to skatehive.
A good community acts as a sponsor of the activity they like to see.
Moral of the story is
people on hive are earning blockchain rewards doing what they love while making new friends and so could you with a little bit of help.
If you are already a member of hive, I encourage you to please share this post on another platform to help spread the message from this lil skateboard bee about the benefits of blockchain participation and various rewards.
IF you are new to hive, please consider joining using the ecency premium option for the best optimized onboarding experience for rewards.
In case you have any questions, please feel free to ask in the comments but I am also inviting you to join their discord for the ultimate experience in onboarding services.
Thanks for reading!
Please feel free to let me know if you enjoyed this guest post by BUZZ the Lil Skateboard Bee in the comments. 😁
Images were designed using midjourney and imgflip memes
Thank you all, your support is always appreciated!
Goodbye & Farewell, to you my friends🙇♂️
