Uhive – A New Social Network with Its Digital Currency and Reward System

Uhive is a new free, multi-layered social network that is changing the way people use social media with the invention of Spaces. Spaces are designed to enable users to socialize, interact and find people across the world who share the same interests as they do and get rewarded based on their level of engagement.

Uhive is designed to mimic real-life engagement using built-in digital assets and spaces – ‘personal profiles‘ under favourite interests that other users can interact with to express themselves as they want, post comments, and exchange ideas. The space initiative is for users to see only the things that they search for i.e. the stuff they are interested in – tailored content.

Uhive puts emphasis on a Civilized and Grey World place where people can be whoever they want to be including anonymous while using their tokens for purchasing services and digital assets as well as non-digital products.

It aims to promote the full participation of different people across the world without judgment, discrimination, and unnecessary content in order for creativity and freedom of expression to thrive.

I’m not sure about how the Uhive team deals with user data, but they promise that in a ‘Grey World‘, the anonymity between space owners and those that engage with their content will be maintained.

Features in Uhive

  • Free social network platform modelled after real-life social engagements.
  • Modern user interface with an emphasis on a free world.
  • Uses ‘Spaces‘ as personal profiles for sharing posts, comments, ideas, etc.
  • Uses Uhive Tokens (network-integrated digital currency based on E20 Etherium Blockchain).
  • Uses a reward system for assigning tokens.
  • In-app digital wallet with support for all popular payment methods.
  • Supports virtual reality.
  • Supports anonymous profiles.

Uhive Tokens

Tokens are Uhive’s custom digital currency built on the ERC-20 Ethereum blockchain to power transactions across the network. Uhive is designed to automatically give tokens to users for every minute spent on the platform with a limit of 4 hours per day. It also gives a token for every new post, like, comment, repost, and dislike on someone else’s post.

The tokens can be used to purchase goods and services within the Uhive community such as getting paid a share of the revenue your space/s generate, buying and reserving spaces, advertisements, special effects, space subscriptions, buying merchandise, and sell products.

How Uhive Tokens Works
How Uhive Tokens Works

Tokens are valued at 333 tokens to $1.00 and every user gets an in-app digital waller for storing their tokens or moving them to any external wallet that supports ERC-20 tokens. As a Uhive user, you can purchase tokens through the web portal or the mobile app using Google Pay, PayPal, and several other popular payment methods.

In the latest (early access) version, users can pin posts, edit posts, follow other users back, transfer tokens to each other, and enjoy an increased limit on token withdrawals. Overall, the app has received enhancements to its search functionality, user interface, comment and reply notifications, video playback, and system performance. By 2021, tokens are aiming to reach $1 as opposed to its current $0.003 due to mass user adoption with the hope that its users will be able to exchange tokens for real cash.

Uhive Earnings
Uhive Earnings

Uhive is allocating 8 billion tokens (equivalent to $24 million/€21.4 billion) to users to motivate engagement and that’s coupled with the ‘multiplier’ feature where daily interaction results in users receiving tokens which are doubled on the seventh day, tripled on the fourteenth day, etc. until the tokens are quadrupled. Kind of reminds me of when Bitcoin was getting some publicity.

What do you think about Uhive? Will a network that combines our social nature with blockchain technology be the future of social networking? It has been just about 8 weeks since the beta app was released and the platform reportedly has 100,000 users with approximately 2 million posts! Will you be joining this ship? I look forward to your opinions in the discussion section below.

Divine Okoi is a cybersecurity postgrad with a passion for the open-source community. With 700+ articles covering different topics in IT, you can always trust him to inform you about the coolest tech.

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