What is Hiblocks?
Hiblocks is a social media curation platform built on the Klaytn Network. The platform tokenizes community engagement and rewards users. It aims to decentralize and distribute revenue generated among content creators and other contributors to creative content. Hiblocks allows anyone to be a content creator.
Current social media platforms, such as Facebook and YouTube, are designed to promote revenue generation for the platform providers. This model by centralized organizations is focused on commercializing their products instead of promoting high-quality content. In addition, the revenue system for rewarding content creators is up to the social media platform to define. Such models may not be transparent. Hiblocks is leveraging blockchain technology to solve these problems.
Hiblocks aims to develop communication among the users of the platform and promote high-quality content. The protocol collects quality content from various social media sites and creates an easily accessible space for users. The platform also creates a beneficial cycle of incentives. It fairly distributes the revenue earned through the platform to all contributors, including business content creators, curators, and general users engaging with the content through voting. The reward distribution is pro-rata and transparent.
In addition, Hiblocks uses a hybrid blockchain with public and private algorithms. The blockchain effectively optimizes social media network platforms while maintaining transparency and an equitable sharing of revenue. Additionally, the public blockchain helps protect the personal data of the platform's users.
HIBS is the native token powering the Hiblocks ecosystem. Hiblocks price is available on the price chart above.
Use Cases of HIBS
Hiblocks coins are mainly used to reward platform users for curating, liking, and sharing content. In addition, Hiblocks crypto asset is listed on various exchanges. Thus, users can trade the asset. Though note that HIBS price may fluctuate due to changes in market conditions. The live chart above provides data about the HIBS price, including its price history.
Who Founded Hiblocks?
A team of experts led by the four co-founders Joseph Lee, Sanghoon Kil, Jiwon Shu, and Young Kim backs Hiblocks. The co-founders are experienced leaders and developers with a history of contributing to the development and growth of successful companies in the tech space.
Tokenomics of HIBS
Hiblocks has a maximum supply of 20 billion HIBS. The token inflation is based on a smart contract that ensures a sufficient amount of tokens is in circulation at any time. The tokenomics balances the supply of the token with the demands to ensure the HIBS price remains healthy to fulfill its use cases. The platform also implements token burns to prevent undesirable inflation.
