Hello Everyone,
This is Cyclops coming with my another blog on InLeo. In this post I am going to talking about the Reward Pool system on the Hive Ecosystem and how it works to inspire the authors. So let's begin.
- What is the reward pool?
Every day, a fixed amount of HIVE tokens are allocated to the network reward fund, commonly called the "reward pool." These get distributed to authors and curators for posting and voting on content. Up to 50% of a post's payout is awarded to curators (the people who upvoted the post) as a reward for discovering the content. The other 50% is awarded to the author.
Source
If curators vote for a post within the first 5 minutes of it being created, a portion of their curation reward remains in the rewards pool for other authors/curators. This portion is linear to the age of the post between 0 and 5 minutes. As an example: upvoting at two minutes will donate 60% of your potential curation reward back to the rewards pool.
Rewards mainly depend on Hive Power and Vote Weight. The higher a upvoter's hive power and vote weight, the more rewards an author can earn.
There is a fixed amount of HIVE coins that gets added to the rewards pool each day. In the short term, the amount of coins that get paid out may be higher or lower depending on the amount of voting activity, but over time it will pay out the full amount of rewards regardless of who votes.
Votes in Hive are stake-weighted. Therefore voters with more Hive Power have a greater influence over the allocation than voters with less HP, but their votes do not increase the amount of rewards in the rewards pool.
- How should the content creation be rewarded!
I think the authors who put too much effort into creating their posts. That is, they use more detailed descriptions and keywords in their posts and use different types of graphics to make the posts more attractive, their posts should be supported by everyone. This will encourage them to create more creative content. Also, those who need more effort in their post should be suggested in the comments with a minimum vote, so that they can put more effort in their next post and create an amazing post.
Blockchains like Hive and Bitcoin produce new tokens each time a block is produced. Unlike Bitcoin, where all of the new coins go to the block producers (called miners), the Hive blockchain allocates a majority of the new tokens to a reward fund called the "rewards pool". The rewards pool gives users tokens for participating in the platform based on the value they add.
That's all for this post. Hopefully you will get some good knowledge about Hive Reward Pool from this post. If you want to know anything about the Hive Blockchain, let me know by your respective comments. I will be coming back with another exciting post soon. Till then stay healthy.
- Article Source
- What is the Reward pool
- Spliting Reward Pool
- Upvoters' Value
- Generation of Hive Tokens
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I read about the reward pool from hive.blog FAQ and I also thought to write a post about it but somehow I forgot to write 😅. Many users still unaware about it and so thank you for presenting the information.
!PIZZA
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You're most welcome brother 😊
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$PIZZA slices delivered:
@cyclopshive(1/5) tipped @intishar