Hive Blockchain & StealthEX AMA Recap – All You Need to Know
On July 12, 2021 we had StealthEX & Hive Blockchain AMA Session in our Telegram Community Chat and here is a recap for you to check it out!
We’re ready to kick off. Both myself and Reese will ask a question to each other and go through the first round of pre-selected questions from Hive’s blog and StealthEX Twitter. After this, we will open the chat for the live round. Ready to start and don’t forget about the Hive prizes 😉
Q for Hive. Most of the projects nowadays are often left in the middle of operation and often abandoned due to lack of incapability to support growth with the market crazily fluctuating. In what efficient way will you be able to go along with market fluctuation?
This is a good question to start with.
It is true that many projects lack the foresight and financial planning to get through hard times and are abandoned. Hive is decentralized without a company behind it or any one team of founders. It is a large public blockchain to which anyone can contribute with numerous infrastructure resources distributed throughout the world and operated by different individuals. There is no one key point of failure as there would be with a centralized system. Should a stakeholder pull out or a group of developers move on, there is always a roster of those who can replace them. No one is critical to Hive but Hive is critical to us all.
And on the flipside, the first question for yourselves comes from Scott [Hive]
Q for StealthEX. What is needed to list our other token HBD?
Knew it was you! Thank you for the question 🙂
Very easy – we need our liquidity providers to support it. We work with several big suppliers, so I’m sure it’s possible. Can’t give the direct ETA on the addition yet, but it’s something we’re looking into! Also – we do not have paid listings 😉
Another one from Twitter for you pals 🙂
Q for Hive. There are a lot of rug pulls and exit scams going on these days. How can investors believe you won’t do the same thing? Can you share a bit about the upcoming roadmap?
Hive was originally created due to the hostile corporate takeover and privatization/centralization of a once-public Steem blockchain. It was a 51% attack, unprecedented on a DPoS system. Since then, we have taken measures to prevent similar situations from occurring. As we mentioned already, Hive is decentralized and no one individual can “rug pull”. We have added safeguards against attacks on governance. Last year we have added delayed governance voting; a 30 day delay between when funds are staked and when they are considered in terms of governance. This year we further supported governance by implementing vote expiration to ensure our stakeholders are actively monitoring for any attacks and the impact of inactive/dead accounts is naturally eroded.
Throwing you a hardball with the next question:
Q for StealthEX. What makes you different from other exchanges? Do you have any unique stuff to offer?
Saw the answer for this question under the blog post already and it was actually correct. StealthEX allows users to tap into the liquidity of numerous providers, no matter where they are + we have a very low KYC rate + there are more assets listed including the ones that you can find on DEXs only for now. Besides, we’re non-custodial which brings extra security and convenience (you can use any wallet of your liking).
After this we have to chat (about) marketing.
Q for Hive. What are your thoughts around funding the dApps built on Hive to do their own marketing, rather than the broad marketing campaigns we currently see? People need Hive accounts to use the dApps after all.
Marketing is one of those topics that comes up quite a lot.
The way our Decentralized Hive Fund (DHF) works is any dApp, project or individual may put in a proposal and allow the community to decide through stake-based voting whether it should be accepted or rejected. Any dApp may apply for marketing funds but it is impossible to say ahead of time whether their proposal will be approved or not. It is my personal opinion that anyone who has a sound idea for a proposal and can justify the need for community funds should attempt to put one forward.
Our next question for yourselves is:
Q for StealthEX. How long would the process of each trade take? (on StealthEX)
All depends on the chains you are using. Usually the trades do not take longer than half an hour (can be faster with some of the currencies). In case the network is congested, the tx may take longer to go through.
Here’s an important one!
Q for Hive. Fast. Scalable and Powerful. These are the main features of Hive. However, is it also safe? Hacks are happening so often in the market. How secure is Hive
Unfortunately, hackers will always be there. Earlier we mentioned securing governance and general network infrastructure.
When it comes to user accounts (which double as wallets) we take a balanced approach to personal accountability and anti-compromise. Any account may be have its private keys regenerated within 30 days of a key change under the provisions that the account holder has a previous ‘owner’ key or the seed password it was derived from AND its trustee account (normally, the account that created it) agrees to assist. There are also anti-phishing resources widely available within the Hive ecosystem and many ongoing security awareness campaigns designed to make Hive users resilient to attempts against them.
Here is a very good one for yourselves that I’m sure everyone is looking forward to:
Q for StealthEX. Are there plans to reduce the minimum transaction?
It is a very good one!
I was checking the questions in advance, so had time to ponder upon this one. Already contacted the provider to ask for lowering the limit and got the answer. The limit for selling is now lowered to 100 bucks ❤️
Will work on lowering further once possible 🙂
Q for Hive. I’ve seen there are several NFT projects living on the HIVE blockchain. What are your plans regarding the NFT sphere? Will we see NFT projects tied with the social media part of Hive?
There are no plans to include NFTs on the blockchain-level of Hive but they are widely popular as layered solutions. That allows for flexibility and variety in the types of NFTs we see. One is the art NFT space nftshowroom.com which allows artists to exhibit and sell their works as NFTs. There are also game-related NFTs of different kinds. New projects around the NFT space are being launched on a regular basis by their respective teams.
Our next one for yourselves is:
Q for StealthEX. What is the difference between a non-custodial exchange and a DEX?
Let’s go into the terms first. A DEX – decentralized exchange, allows peer-to-peer transactions without the need of intermediary. We see lots of examples now that use smart contracts (Uniswap and so on).
A non-custodial exchange, on the other hand, needs no intermediary to hold the funds as well (like Binance does on their hot wallet for instance), but it is still a service performing the swap for you. No smart contract involved – we have the algorithm here that compares the rates among exchange providers and goes with the best one.
Here we go your way:
Q for Hive. I think Most people only evaluate projects based on their token value, not the technology the project has. How can you Founders add educational value to their investors so that more people understand the value of your project than the price?
This is a very difficult question because there’s just so much to say but I’ll keep it brief.
When we talk about Hive as a community we share our passion for it in its entirety or for a part of it that we personally are drawn to. We are also regularly adjusting and optimizing Hive towards ensuring it is a sound investment. We are readily encouraging HBD investment and staking by adjusting the APR for staking upwards, presently at 7% and heading towards 10%. HBD, for those who are not aware, are Hive-backed dollars (HBD), a unique type of trustless stablecoin that is backed by the underlying value of the Hive blockchain itself and pegged to the USD. Long-term investment in HIVE is encouraged primarily through our robust curation algorithm which lets those who vote on monetized content on Hive to earn proportional returns. In our latest HF we made that calculation even more investor-friendly.
And from us to you:
Q for StealthEX. Does your swap service trade coins in a trusted exchange like binance or huobi to complete the transaction?
This one is easy 🙂
You’re absolutely right! As you can see in the StealthEX About section, both Binance and Huobi are our providers (among with other great exchange services)
Next one is the killer question
Q for Hive. How is it useful and better than others available???
Yes, another great one!
Our goal and primary vision is to create a robust platform for decentralized applications and services. Hive offers fee-less transactions, 3 second block times, and immense flexibility in respect to utility. Hive provides both the baseline protocols and frontend tools as a social network but can also leveraged for any number of uses. It enables people to do business directly via a peer-to-peer network without any intermediaries while at the same time being the ideal real-estate for development and content storage. It’s strength is in its versatility. You can check us out and find the appropriate links at https://hive.io
Here’s one for you that’s somewhat related:
Q for StealthEX. What are the benefits of using StealthEX together with Hive?
I spent like half an hour thinking about the answer for this one
Can be technical, can be more community-oriented
However I think the answer is:
it’s simple – we have great supportive communities, an easily understandable service and a great asset. All together. Honestly it’s amazing.
Now serious about the ecosystem:
Q for Hive. Hopefully Hive in the future will become a Crypto project that the whole world is proud of, I am a Hive lover from India, but In the near future, to what extent will the HIVE blockchain expand the ecosystem?
Yes, a good one.
We continue to be one of the few projects in the entire cryptosphere that is entirely decentralized at every step. The contrast between cryptocurrencies and blockchains controlled by one team and Hive are readily apparent. Without one entity pulling all the strings, we remain resilient to exit scams. We have a holistic vision and we are building solutions that can be utilized in a number of ways. We don’t just solve one problem we’ve predetermined; we give you the tools to solve the problem you need solved.
Our community question for you is a hard one but one I’m sure is front and center for many people:
Q for StealthEX. I noticed StealthEX also supports payment via fiat and also via mastercard or visa card. My question is: How secure or safe and efficient is the payment gateway?
Thank you for this question! Actually this Hive user made a very thorough research of what StealthEX does before asking the questions (can be seen in the blog post comments). Very cool! Thank you for this!
Here’s the answer:
Good one! StealthEX supports fiat onramping now, you’re absolutely right. We have integrated Mercuryo for fiat transactions. They’re quite an old provider (well if you can really say OLD in the crypto space), have all the needed docs and bank support to perform the swaps from fiat money. We trust these guys!
As for the efficiency – it’s quite fast. You’ll have to go through verification on Mercuryo side, but you only have to do it once, so the process would not take long at all.
Here’s the last one for Hive!
After Reese [Hive] answers, we will open up the chat!
Q for Hive. How long Hiveblocks project been in crypto industry? , have you meet some challenges or obstacles while developing, and innovating your project Hiveblocks? And how did you deal with it?
Another great question we can write a book to answer.
Hive was launched in March 2020 after the hostile takeover and privatization of Steem from which it forked off. It is the public continuation of the Steem community. Many of us have worked together for years. The greatest challenge we met with is not teamwork but explaining our unique dynamics to the rest of the world. Grassroots initiatives like ours where there is no company, no ICO, no funding rounds, no registered organization and no founding team are increasingly rare. We hope to inspire others to follow our path towards a more decentralized cryptosphere.
And here is a long one for yourselves:
Q for StealthEX. From the website I noticed StealthEX doesn’t require any form of user registration and this implies that they may not likely have database recording users information which is really cool as it helps to secure one’s privacy. My question now is that what if there’s a glitch or probably some error by users during the transaction process, how can such user make a complaint to the team or customer service involved?
Definitely a long one. Here’s the equally long answer 🙂
You’re right, we’re non-custodial and do not have any registration process. All in for privacy 🙂
Sounds strange, but it also helps in case something goes wrong. Imagine – you’re swapping BTC for Hive. You would like to send the deposit in, but suddenly everything shuts down and StealthEX goes into downtime (that does ont happen very often though, we’re here to monitor). But going back into your case. The website is down, but you have sent the deposit already – we do not store it, so your transaction will go through anyway, even if we’re offline.
On the other hand, if you have not sent the transaction in, then you still have funds in your wallet and there’s nothing to worry about.
In case you would like to contact support and ask something – each transaction has an ID that you can tell us to check the status of your swap.
Also, the chat is open pals! Ask away!
I’ll be taking the last question live! Please ask.
xperia, [Live Chat user]
Q for Hive. How important is the community for Hive? How will you attract people to join project Hive?
Thank you, an excellent question.
Community is at the center of Hive. That’s the heart of Hive. We offer sponsored accounts to allow for free registration, we have projects within our community that focus on providing new users with information and mentoring to get started, we have numerous interactive chats and communities that are welcoming to new users and are there with the goal to guide them along the way. We advertise and promote Hive where we can, often in our own ways. You may pass someone on the street wearing a Hive t shirt one day or you may see a Tweet from a Hive enthusiast!
hussein, [Live Chat user]
Q for StealthEX. I just got to learn that you support fiat exchange. I am a hive user from Nigeria and there are many Nigerians on hive. I will want to know if there is a potential for the Nigerian fiat (Naira) to be included on your exchange.
We’re actively looking into the expansion of fiat buying opportunities! We will definitely look into Naira options. Thank you for the questions and it’s great to have interested people from Nigeria!
I will answer the second question after I ask our own:
Q for StealthEX. How users will be benefited from using StealthEX other than using old exchanges?
Thank you for the question!
Sorry about cutting this question in half (was longer originally), but it would be a great time to tell everyone about the actual benefits of using StealthEX. Of course, by default you get an instant exchange without any registration needed and hundreds of assets on board, but the user can get more out of StealthEX 😉
We have referral links and API integration that can get you a percentage of all exchanges. API is for services, sure, but individuals can always hop into the personal cabinet, make a ref link, share it on Twitter, Reddit, Hive blog and so on and earn profit. We love Ambassadors so hit me up if this is something interesting for you.
This is what comes to the direct profit 😉
As for the general use, we are more reliable than contracts, but far more decentralized and secure than CEXs. I believe that explains how we are better.
Ayhan, [Live Chat user]
Q for Hive. Can you tell us the motivation and benefits for investors to long term?
We offer different types of staking which is fairly flexible as we have two native coins: HIVE and HBD. Both have different staking mechanisms that result in a sound investment for the holder
Q for StealthEX. Which exchanges does stealthex work with? We notice primarily binance transactions for hive swaps though sometimes there may be better rates on huobi or bittrex.Marija [StealthEX]
All of the mentioned ones actually 🙂 UPD – error here, no bittrex pals
sukru, [Live Chat user]
Q for Hive. What is the long term goal to keep developers attracted to HIVE?
On Hive developers get to build what they want to build. No core team or company needs to approve their projects, all are welcome. We’re flexible, we offer a great community that will help answer any technical questions, our numerous libraries make integration easy, and on top of everything we have a DHF (fund) where developers can apply and make a community proposal for funding.
CZ_DYOR, [Live Chat user]
Hello Hive team and StealthEx team, I have a question.
Q for Hive. If and when the bear market comes, how will your project stand after the retail investors and panic sellers have left the market? Where will you go from there?
Hive is seasoned enough to not be affected by this. We have seen the bear market before and we will see it again. Our main supporters and developers and infrastructure builders know that they have to prepare for good times and bad and will continue to hold their reigns steady.
★ Mahdi Yari, [Hive][In reply to CZ_DYOR, Live Chat user]
Hive has DHF, Decentralized Hive Fund, it is a DAO. It pays for the Hive’s development with HBD, Hive Backed Dollar, and it already has a few million dollars in the treasury. The DHF is a guarantee for the future.
Thanks Mahdi Yari, [Hive]! As a means of introduction, Mahdi is a long-term developer, witness, investor and library maintainer on Hive.
hussein, [Live Chat user]
Q for StealthEX. Will the StealthEX team open an account on Hive? Just curious
YES and YES!
Mason Greyback, [Live Chat user]
Q for Hive. What are the differences and uses cases of HIVE, HIVE POWER and HIVE DOLLARS? Having a fairly varied HIVE ECOSYSTEM with games, video players and more, what other types of Dapps are you trying to achieve? What is the ultimate goal of HIVE? be used on all platforms?
HIVE is our everyday currency which can be used liquid or staked. Once staked it becomes HIVE POWER and can be utilized for governance and curation. HIVE DOLLARS are HBD, which is our stablecoin pegged to the US Dollar.
There are a huge number of dapps and games on Hive. More than I can list. Please take a look at Hive Ecosystem or HiveProjects.
The ultimate goal of hive is to create a platform robust enough to meet the needs of decentralized applications and services currently in existence and yet to come.
CZ_DYOR, [Live Chat user][In reply to Reese [Hive]
I am still newbie in crypto and feeling worried to invest in this volatile market..😄
However, thanks for answering my question hive team..🙏
Reese [Hive][In reply to CZ_DYOR]
As most people are. Since Hive is fee-less, a new user can invest as little as a dollar and still have a stake they can leverage for interaction or organically grow.
𒆜RÈÌÑHÀRD𒆜, [Live Chat user]
Q for Hive. As I see this Hive is a community Project, how is the organizational structure? How are the short and long term objectives defined? What determines that the goals are being reached?
In one word, ‘decentralized’. All are welcome to contribute and the most prominent contributors in respect to their contributions (development, experience, etc) naturally emerge. We collaborate and work together to arrive at key milestones. We hold development meetings which are open and interactive every two weeks for example.
CZ_DYOR, [Live Chat user]
Q for Hive.Where we can learn more about HIVE?? Do you have a gitbook or medium??
Stop by our site at hive.io and go from there. There are a lot of resources.
Those who are interested in joining Hive please make your way to signup.hive.io and create your accounts!
Oh time to wrap it up! Thank you for the questions.
And thank you Reese [Hive] for all the answers.
Thanking the Hive community for questions to us as well 🙂
hussein, [Live Chat user]
Thank you for listing Hive!
𒆜RÈÌÑHÀRD𒆜, [Live Chat user]
Great ama. Thank you StealthEx and Hive !! 👏👏
CZ_DYOR, [Live Chat user]
Ok, thanks Hive team and StealthEx team..🙏
Thank you to everyone for your excellent questions and for welcoming Hive!
Always welcome to swap Hive coin on StealthEX
And by the way, don’t forget that now StealthEX users can purchase cryptocurrencies using fiat and we still offer the opportunity to buy crypto at fixed rates!
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