Decentralized Blockchain Hive Issues Evolution, Hardfork 26

Layer 1 blockchain Hive issues hard fork 26 labeled “Evolution.” This major protocol update benefits several classes of users, including curators and developers.

UNITED STATES, Oct. 20, 2022 /EINPresswire.com/ — Hive, the decentralized blockchain for social blogging, 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 feature is a key feature as Hive positions itself as the best environment for second-tier dapps.”

Evolution brings 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 second limit has been lifted. However, the change does not change user resource credits (RC), which are non-transferable credits that determine users’ ability to trade 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 revenue purposes.

From now on, all users will be able to update their keys up to twice an hour. Keys on Hive are layered permission passwords designed to keep wallets safe from compromise.

Another change that affects all users is the price of HBD compared to HIVE when The Haircut Rule comes in. 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 affecting Hive developers include a change in how RC is calculated, streamlining of virtual operations, and 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 affect investors and witnesses. These include the previously mentioned OBI change, a permission for witness block logs to be compressed online or offline, and improvements to Cli_wallet. This makes Hive wallets and transfer nodes far more manageable for privacy-focused investors.

“Major advances were made in transaction processing scalability. On the Hive mirrornet, we were able to process megabyte-sized blocks every three seconds,” said Dan. Mirrornet is a parallel chain for research and development that “mirrors” Hive -blockchain, designed for developers to experiment while playing with new features and building dapps.

Hardfork 26 is the third major protocol update to the Hive blockchain since March 2020. For more information on Evolution, visit Hive.blog.

About Hive
Hive is a decentralized information sharing network with an associated 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 interfaces contribute to the availability of data on the Hive blockchain. Hive is designed to store massive amounts of content and to make it readily available for time-based monetization. Examples of use cases include social media with monetized rewards for content producers, interactive games, identity management, voting systems and micro-lending. The performance of the blockchain is designed to scale considering the widespread use of the currency and platforms. Combining lightning-fast processing times and fee-free transactions, Hive is positioned to become one of the leading blockchain technologies used by people around the world. Learn more about Hive and register today at https://hive.io.

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