Hive was hard forked from Steem. Its initial distribution of HIVE, HBD and HP to all accounts except those involving the centralization attack, mirrored their existing balances on Steem. HIVE annual inflation rate decreases by roughly 0.5%, until it reaches 0.95%. (Steem's token started at an annual inflation rate of 9.5%. I guess HIVE probably does the same, though no information in its whitepaper.) No predefined limit to HIVE supply, but depends upon the inflation rate.
HIVE inflation will distribute into the following 5 categories:
- 32..5% to authors
- 32.5% to curators
- 15% to HP stakeholders
- 10% to witnesses
- 10% to Decentralized Hive Fund
Hive whitepaper doesn't discuss anything about the payout pattern based upon voting mechanism. Steem talks a little bit. They expect the award pattern should follow Zipf's law and enjoy to see that outcome. However, when I see the plot, my jaw is dropping.
What is Zipf's law? It is hard to explain it in detail here. You can wiki it. What I can tell you is a fact that some scientists are using this law to search for aliens. Are we doing the same thing here? Let's have an example in this reward system. Say, there are 10,000 authors and total awards are $300. Based upon Zipf's law, Top 1 author gets $100. The sum of the awards from Top 2 to Top 101 is $100. The rest, i.e., 9,899 authors, share $100. Basically, you can say only the first few authors get meaningful incentive. Majority authors work is constantly not appreciated. What? Pay attention what word I use, constantly. Here is a nerd training room! If you are an author, then ask yourself, are you ready for this class?
Also, the platform creators' exultation to such payout distribution is confusing me. I wonder, what is their target market? Are they chasing a talent writer or build an incentivized social media platform for everyone? For the social media platform, the amount of active users are at least as important as a few geniuses. The more users, the more value of the platform. They keep your business vigorous.
I want to ask the platform creator a very simple question, do you care if the platform loses those 9,899 authors? If you do, please fix this problem using a better incentivized means. Otherwise, keep doing it. You may soon become an alien to the social media!
My bread and right record: Today I have 0.065 HIVE, 100% Vote power. (Surprise!)
Side note: I did get 15 points from Ecency for my last blog. Is it because of bug, censorship or alien? I will see.