Back to School - Hive Vocab 101

in OCD4 years ago

Having signed up for Steemit in 2017, I'm not a noobie so I really don't have an excuse for my ignorance, but the Hive vocab is killing me.

There are great write-ups by people who seem to actually understand all this, but I'm writing this post as a Hive vocab self-help. And it's not just vocab, it's the little gears and levers and pulleys and doohickeys that make Hive work under the hood.

hive_vocab_101.jpg

My goals:

  1. Try to better understand Hive workings as I write and research this post.
  2. Maybe help someone else floundering with me in the same boat.
My disclaimer: Some of this may be (probably is) wrong. Plus, I'm using my own terms and phrases at times, not always "official" ones. The whole reason I'm writing is to learn. Please take these words for whatever they're worth.

Some background for context

Up front, I'm loving Hive! Since the split from Steemit, I've really been rejuvenated to re-engage with Hive. I wrote in another post I think the fork has been a blessing to Hive by re-focusing attention on this awesome blockchain. I also see the drama as having buoyed up the community, drawn members closer together, and kindled new ideas. Speaking for myself, I had wandered away from Steemit in the months before the fork. I'm back into Hive now with new vigor. Hence, I'm writing now.

There was a goal I'd been harboring in the back of my mind for quite some time (years). I have an old blog that's hosted in a place that I fear might suddenly disappear. My goal has been to migrate the old blog over to a blockchain thereby archiving it in a place that I control and so as to not worry about it simply going away one day. Plus, the old blog is ugly. Enter Hive.

My thought-and-action process went like this...

  1. Hive looks great and seems to be getting better. I could just copy/paste my old blog posts here. But, then all my old blog posts would get mixed in with and lost along with my regular Hive blog. I want them separate.
  2. Maybe, I could just make a new Hive account, separate from this "@crrdlx" account. But, those keys! I never actually understood the Steemit keys/Hive keys. Why three? I have so many accounts for things and so many passwords. Not three more. No, wait, there's four. No wait, that's four private keys, then there's the public keys. So, there are eight keys. I don't want eight more keys to keep up with!
  3. I lamely Googled around, gave up, then went to Discord and asked. (If I got scolded I could then say, "Yeah, I did some searching around but couldn't find an answer..." Heh, heh! Clever, huh? No one has though of that.). A nice person (@foxon) quickly suggested two options: (a) make a new account, or (b) make my own community. Hmm. I don't want a new account and eight keys. He/she was super nice and also suggested I contact a marijuana farmer (@ganjafarmer) because he/she just made a community and might have tips for me. I contacted the marijuana farmer, and he/she was also super nice. I let the idea ferment in my brain.
  4. A new personalized community would work, but somehow it seemed like overkill for what I wanted to do...just archive an old blog, not really to set up a community.
  5. After fermentation had come to its full-bodied process, I tapped into my brain keg. I told myself, "Just make another account. I can copy/paste and save eight keys. If that's the toughest thing about this, I can do it."
  6. I set up the @satoshitimes account.

Chart time

Vocab termWhat it is/does and my explanation.
master passwordThis is a sneaky thing to me. With Hive, you really don't use your "password" (as with every website you visit). PeakD uses the term "keyword", I believe, to distinguish the PeakD word from your Hive master password. I understand that this master password can generate all other keys. It's powerful. I don't understand the difference between it and the "owner key"...frankly, I think they can do the same thing. It's critical to keep this secret.
keysThese are long strings of letters and numbers that show that you own/control the account. There are 3 (and a half) keys. It's critical to keep them all secret, but they're listed here from lowest-to-highest security level and power. @pfunk made this post which helped me, as did this one by @drakos (note, it was written in Steemit days, but still helps a lot).
posting keyFor posting, commenting, etc. Use this for day-to-day stuff.
active keyFor all of the above AND for things involving money or tokens, like sending HIVE to a friend.
owner keyFor all of the previous two, AND for everything and anything. It's the master key.
memo keyThis is the "half" key. It's apparently for signing encrypted memos or messages, but as I understand it, it's not used just yet.
tokensHive has three tokens. This has confused me for three years. I'm starting to get it. This FAQ page helped a bunch.
Hive Token (HIVE)This is the base token. You can do essentially anything with it. But, you may want to use it to "power up" to "Hive Power". You ask, "If it does essentially anything, why power up and change it?" Well...
Hive Power (HP)This is HIVE that's been "staked" or frozen for a while (when you power up, you stake). HP gives you influence...think of it as having respect among your peers. If you have lots of HP, they listen. If not, they don't. This is one thing HIVE cannot do. Staking is a promise that you'll keep your tokens around for a while because you can't up-and-run today. Thus, it helps provide stability for the system because people know your vested in the system, you're staked in. Also, there's a second special thing that HP does...it earns you Resource Credits (see below).
Hive-Backed Dollar (HBD)This is like traditional money, traditional dollars saved in a piggy bank. They're mostly liquid, but it may take a few days to convert them to HIVE.
Resource CreditsAKA "RC", Resource Credits are the "fuel" to do stuff on Hive. RC is needed for transactions on Hive. This is important because pretty much anything you do (post, comment, vote, etc.) is a transaction. Resources Credits, or the lack of them, is what prompted me to write this post. Keep reading.
manaThe unit of measure for Resource Credits.
hiveblocks.comThis is a block explorer (website) with lots of stats and all the transactions for you or any other user. It's all public in this public blockchain. And hiveblocks is your friend. Every Hive user has the same hiveblocks address, just substitute your username after the @ symbol. So mine is https://hiveblocks.com/@crrdlx

A whole new account

As I mentioned, I dove into a brand new account to archive my old blog: @satoshitimes. I started with the first old blog post, posted a others, and got going fine. Things were looking good. Then, upon trying to post again, I got a red "Error" message similar to this:

errormsg.jpg

I'd not heard of RC before. I suppose, with my "main" @crrdlx account, and with the infrequency of my posting, this was never an issue before. With my new @satoshitimes account, it was an issue.

So...how to get more RC? This post by @shortsegments is very clear and helpful. The bottom line...to get more RC, get more Hive Power (HP). Each day you accrue a bit more RC based on how much HP you have. It's some fancy math formula, but to get more RC, get more Hive Power (HP).

And back to hiveblocks.com, a look at https://hiveblocks.com/@satoshitimes shows tons of information even though my account is only 6 days old:

satoshitimesblocks.jpg

Particularly, notice the "Resource Credits" graph (pic above) showing I'm at 15.4% and the table (pic below) showing details about my RC and what I can do:

satoshitimesrc.jpg

So, again, to conclude...I need to get more RC. There are ways to buy it, but since I'm in no rush, I will...

  • be patient as it slowly accrues,
  • hopefully earn a bit of HIVE or HBD here-and-there,
  • power-up,
  • and gradually build RC.

That's all. This has helped me, maybe it helps others too.

Please feel free to clarify or correct me wherever I'm wrong.
:)

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Hello mate!

Just checked through your post, and I just say this is a great post and it is nicely done. Weldone for the good work.

Thanks for sharing @crrdlx

This is great! Thank you for documenting the journey

Really helpful post. I keep figuring out this space everyday

@trafalgar Wow, thank you. I'll put these earnings to use.

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