Hive is the name of a cryptocurrency [HIVE) as well as its native blockchain. It was launched on March 20, 2020 as a hard fork from Steem. At 14.00 UTC, HIVE copied the STEEM blockchain and proceeded independently of the original blockchain.
HIVE was created by disillusioned members of the Steemit community in reaction to what they perceived to be a takeover of the STEEM Blockchain by TRON.
On March 20, 2020, members of the Steemit community successfully completed a hard fork on the STEEM blockchain, creating a new community called “HIVE.” Many STEEM holders transferred to HIVE, a new protocol with its own native token, though the process wasn't entirely without incident. The creation of HIVE included an airdrop of HIVE tokens, though some STEEM users claimed they were mistakenly excluded from the airdrop.
Canadian mining firm Hive Blockchain sent a cease and desist letter to some of the creators of HIVE, saying that it was intentionally or otherwise, confusing” with their brand. David Jefferys, an ex-director of business development at Steemit and one of the driving forces behind the HIVE hard fork, responded by saying that HIVE isn't a registered company yet, that there was "no time" to register HIVE as an independent company, and that HIVE is "a pure, community-driven, truly decentralized social blockchain project."
Ten days after the fork, HIVE were changing hands at prices almost twice as high as STEEM.
- Announcing the Launch of Hive Blockchain. Hive.
- Why Crypto Should Care About Justin Sun’s Steem Drama. CoinDesk.
- Steem Community Resists Takeover, Hard Fork Launches Hive Network. Cointelegraph.
- Hive Continues Independence Push as Steem Stakeholders Migrate to New Chain. Cointelegraph.
- Splinter Cryptocurrency Hive Outperforms Justin Sun’s Steem After One Week Trading. CoinDesk.