Hive Power carries with it a huge significance, in fact before the recent Hard Fork without Resource Credits (RC) which are sourced from Hive Power you will be unable to interact with the Hive blockchain.
With Hive Power users can curate, the bigger your Hive Power the bigger your influence on Hive is a Delegated Proof of Stake (DPoS) protocol. Therefore it is important to grow one's Hive Power (Staked Hive) from day one of joining Hive if the goal is to stick around for the long term.
Hive is evolving, this is obvious if you interact with the ecosystem daily. Hive went through a Hard Fork recently which saw it upgraded in various ways, one being the removal of 3 seconds waiting time before voting on the next content and the delegation of Resource Credit now possible.
Resource Credits
You get Resource Credits from Hive Power, in other words from staked Hive to simply put.
DApps have to rely on Hive Power for account creation, we saw this with Psyberx seeking HP delegation for onboarding when the game launches, depending on Hive Power for onboarding purposes is now a thing of the past with Resource Credits sufficient for interacting on Hive without Hive Power. This solves the need for HP about mass onboarding, having Resource Credits also ensuring feeless transactions which Hive boasts of.
Taking my Resource credits for example I am seating with 11,747M RC when at 100%, the attempt to calculate how much I have used and when my Voting Power is at 91% didn't get me far, so I'd rather wish to know from the experts how much RC can one get from 1 HP.
Previously with 20 Hive Power, a new account could interact with Hive until the user's Hive Power grows from content creation.
How do I delegate my Resource Credits, how much do I need to have enough, who do I delegate to, and how long does it take to undelegate? are the questions I'd like answers to so I can channel my unused RC to applications that might need them.
It is great seeing Hive evolving, RC delegation was never a thing in the past, the good thing with RC delegation is with every growth in HP, RCs grow as well which will be put to use by those that need it.
We owe it to ourselves to make Hive great
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Rc delegation is a big improvement on hive, I believe this will bring more app to develop on hive. With time rc delegation will be easy for everyone
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Have you delegated RC yet?
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yup , using peakd.
As far RC required you can use unit maths.
if your total HP convert to "M" amount of RC then 200 HO will be equivalent to "N" RC.
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Thank you, I just need to look out which DApp needs it, maybe I should delegate some to PsyberX.
!PIZZA
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It is already easy, peakd interface already has this facility.
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Very good questions… let’s see if some know the answers. Would be interesting to know.
Have a wonderful day Joe 👋🏻😊
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Some answers will great Jackie 🙂
A great wonderful day to you as well.
!PIZZA
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Yep 😉
Thank you kindly Joe, enjoy yours…
!PIZZA
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Many thanks for the Pizza 🙂
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You are welcome, thanks for it too 🤓
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You are welcome 😃
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Great post bro and nice to learn about resource credits, this blockchain lingo can get a bit confusing so we have to keep learning as much as we can. I would also like to know the answers to those questions you asked. Knowledge is power so we will keep seeking it. Thank you for sharing and enjoy the weekend ahead :}
Lol yeah we learn every day in the crypto space, the response I got so far is we can delegate RC from the PeakD wallet section of our account, I just don't know who to delegate to at the moment though.
Thanks, bro, have a wonderful weekend,
!PIZZA
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I think RC delegation can be profitable in the future but I don't think it will happen unless we get a huge explosion of new users and transactions. I do think it does allow the burden to be shifted onto the applications rather than the users and this will allow for people to get onto Hive easier.
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It is a great development to ease the dependency on Hive Power, some of us can now support applications by delegating our surplus RC. It surely will help going forward.
!PIZZA
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Would be interesting to see which need RC to roll out new apps.
!BEER
It and I think there we will hardly run short to support new accounts when this place finally attracts mainstream.
!PIZZA
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