Hive HF25 (Hard Fork) ~ Important New Changes Coming 🤔

This is a summary of the main highlights in (HF 25) that will change several key things related to Voting on posts. From what I have read below, these changes could make things a little less complicated and perhaps fairer! Time will tell, when we actually see this new code in action at the end of this month...

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Above Image: "Screen Shot" from original Hive post.

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Earlier this week we notified cryptocurrency exchanges that the upcoming hardfork to the Hive blockchain network, dubbed Equilibrium, is planned for the end of June.

Today's official date announcement also has a pile of helpful information including a summary of changes coming with the new "hard fork", links to the software, and details for those of you who may want to get involved in testing the new software!

TL:DR the Code; A Quick Overview of the Upcoming Changes
Equilibrium is a state of balance between multiple forces. In the case of the Hive blockchain network, the guiding mission from day one has been to create an ecosystem that allows anyone to become a part of our decentralized network, contribute to governance, and to own their data, connections, tokens and actions in a world where the current tech and social powers have an iron grip.

This hardfork continues to empower people to use Hive the way they want and takes another few large steps forward in creating an ecosystem with better balanced rules and tools for building whatever we can dream up.

Reaching equilibrium is finding a state of balance and readiness. It is the essential preparation for big moves, exciting changes, and sustained growth.

Here's a quick summary of HF25:
Below is a list of the consensus changes that are being made as part of this hardfork:

changes to curation window and curation rewards calculation

The most important aspect of this change is that the 5 minute reverse auction is going away, so there is no punishment for voting early. This will finally put manual voters on an equal footing with automated voters when it comes to competing for curation rewards. This change, more than any other, was the driving reason for the naming of this hardfork.
In addition, anyone voting in the first 24 hours will be rewarded based solely on their Hive Power and vote weight, and the reward curve applied from 24 hours to the end of the voting window will be much softer than currently, eliminating any need to feel rushed when voting in order to maximize curation rewards.
new operation and API to convert HIVE to HBD

HBD (Hive-backed Dollars) is intended to be a feeless, trustless, USD-pegged stablecoin, a feat that has yet to be achieved in the cryptocurrency world. This new operation will stabilize the price pegging of HBD, allowing it to achieve its full potential as a frictionless medium of exchange for digital commerce.
While you've always been able to convert your HBD to HIVE, this new operation will allow you to convert in the opposite direction (HIVE -> HBD).
Previously, HBD was only effectively price-pegged on the low side of USD pricing. This new conversion will create an equilibrium point where HBD will be pegged on both the low side AND the high side.
interest only paid on HBD held in your savings account

You might have missed that you're earning interest on your Hive-backed Dollars, so this could be a neat surprise: simply move HBD into your savings account (3 day withdrawal waiting period) to earn interest on it just for holding! No-risk DeFi, made easy.
new operation and API to enable recurring payments

These are periodic transfers which you schedule to happen automatically. They are intended for managing subscription payments, etc.

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  • Interesting new Hive developments, don't you think ?

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Comments

  • avatar curationstation on June 20, 2021

    Your post has been curated by curationstation - well done. Keep up the good posts !!

    • avatar andy4475 on June 20, 2021

      Many thanks, I hope that the many Hive users here read it...