Decentralized Blockchain Hive Issues Evolution, Hardfork 26
Layer 1 blockchain Hive issues hardfork 26 labeled “Evolution.” This major protocol update benefits multiple user classes including curators and developers.
UNITED STATES, October 20, 2022 /EINPresswire.com/ — Hive, the decentralized social blogging blockchain, implemented a major protocol update Hardfork 26 labeled Evolution on Tuesday, October 11, 2022.
“This hard fork marks a significant milestone,” said Hive core developer Dan N. “Hive block producers are now able to mark blocks as irreversible in less than a second on average.” Previously, One Block Irreversibility (OBI) took 45 seconds. “This new capability is a key feature as Hive positions itself as the best environment for second layer dapps.”
Evolution provides new benefits to all major classes of Hive blockchain users: creators and curators, developers, investors, and witnesses.
For curators who discover and support original content, the one-vote-per-three-seconds restriction has been lifted. However, the change doesn’t alter user resource credits (RC), which are non-transferable credits that determine users’ ability to transact on the blockchain-based on how HIVE is staked. Another change that will benefit all community members is the ability to delete comments with votes. Before Hardfork 26, those who wanted to delete a comment could only do so if the comment had no votes. After the protocol update, comments can be deleted even if they have voted, and the votes will still be counted for monetization purposes.
Going forward, all users will be able to update their keys up to twice per hour. Keys on Hive are tiered permission passwords that are designed to keep wallets safe from compromise.
Another change that affects all users is the price of HBD relative to HIVE when The Haircut Rule comes into play. The Haircut Rule determines the on-chain exchange rate when users convert HBD to HIVE and when the HBD-HIVE debt ratio reaches a predetermined limit.
Changes that impact Hive developers include a change to how RC is calculated, streamlining of virtual operations, and the addition of the Simdjson library to validate JSON operations. Evolution reduces the cost of temporary objects while increasing the cost of permanent objects.
Evolution also includes three changes that will directly impact investors and witnesses. These include the previously mentioned OBI change, an allowance for witness block logs to be compressed online or offline, and improvements to Cli_wallet. This makes Hive wallets and transmission nodes far more manageable for privacy-focused investors.
“Huge strides were made in transaction processing scalability. On the Hive mirrornet, we were able to successfully process megabyte-sized blocks every three seconds,” Dan said. The mirrornet is a research and development parallel chain that “mirrors” the Hive blockchain, designed for developers to experiment as they play with new features and build dapps.
Hardfork 26 is the third major protocol update to the Hive blockchain since March 2020. For more information about Evolution, visit Hive.blog.
About Hive
Hive is a decentralized information-sharing network with an accompanying blockchain-based financial ledger built on the Delegated Proof of Stake (DPoS) protocol. Hive supports many different types of information-sharing applications. A myriad of dapps, APIs, and front-ends contribute to the accessibility of data on the Hive blockchain. Hive is developed to store vast amounts of content and to make it easily available for time-based monetization. Examples of use cases include social media with monetized rewards for content producers, interactive games, identity management, polling systems, and micro-loans. The performance of the blockchain is designed to scale with the widespread adoption of the currency and platforms in mind. By combining lightning-fast processing times and fee-less transactions, Hive is positioned to become one of the leading blockchain technologies used by people worldwide. Learn more about Hive and sign up today at https://hive.io.
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