It's day 27 today and we only have 4 days to go and we would say bye-bye to the year 2024 while we start afresh a new year. I love to begin on a clean note in a new year while forgetting about the old one. By next week Monday, it will be a new journey on the Hive blockchain and I feel like talking about this title to us here which includes me too as we want to do better with our growth. The year 2024 is a promising one for us as we are hoping the bull run comes around while making a lot of us richer, and that, we would look back to see how far we have come and how we didn't relent on our growth here.
How do we leverage the two tokens; Hive Power and HBD to unlock success on Hive for the new year? One thing we should understand before continuing is that it requires our activeness and dedication to the blockchain, plus consistency.
The Hive blockchain, as we all know represents a decentralized ecosystem that fosters creativity, engagement and most importantly economic opportunities for all users. To navigate this digital blockchain and thrive in the year 2024, understanding the dynamics of Hive Power and HBD is very crucial for us.
At the center of Hive lies the concept of Hive Power which represents the influence of a user on Hive. This means that without a user having Hive Power, there is nothing he or she can do because we believe that the higher one's Hive Power, the higher the chance of gaining more visibility and influence in the community. In other words, accumulating Hive Power is like having social capital which enables users to curate content, give valuable upvotes on content and make decisions surrounding governance. If users can prioritise growing their Hive Power, it will be a backbone for success.
How do we do this?
On Hive blockchain, the way we can grow our Hive Power in the year 2024 is through our constant involvement; by engaging in quality content and engagement consistently, providing quality and non-plagiarized content daily, even if not every day, at least, twice or thrice in a week and actively participating in communities by interacting with others. By doing this, we increase our Hive Power which provides higher influence and potential for earning more rewards, i.e curation rewards. By powering up Hive tokens, converting liquid tokens to Hive Power gives an edge to one's weight in voting and governance while leading one to success on the blockchain.
Leveraging HBD (Hive-Backed Dollars)
The stablecoin on Hive is called HBD which also plays a vital role in the maintenance, sustainability and stability within the ecosystem. HBD is pegged to the USD and it offers users a dependable way of protecting their value despite crypto market volatility. With the stability of HBD, it offers users trust as it serves as a foundation for financial activities and facilitates transactions within the Hive community.
In the year 2024, we must continue to employ HBD in a strategic way as it can strengthen our success on the blockchain. Hive has provided the opportunity to earn HBD on content and with this, putting a small amount of HBD either daily or weekly into savings will serve as a shield against market fluctuations. Utilising HBD for transactions within the ecosystem will contribute to the stability of Hive's economy. Aside from this, keeping HBD and locking it up in savings will enable users to benefit from the 20% interest and this is something we hope it continue in the new year, if not, the reduction of the percentage will still provide more opportunity to get returns monthly.
As we all know, to be successful on Hive requires our effort and consistency while understanding and optimising these tokens through consistent engagement and quality contributions. While we embrace these strategies for the new year, we are not only making success for ourselves or enhancing our influence, but we are also helping the blockchain thrive and grow. As the year 2024 unfolds, focusing on accumulating Hive Power and utilising HBD will remain the core pillars for all users who aim to flourish on Hive.
Image designed on Canva
Thanks for your time on my blog.
Posted Using InLeo Alpha