Hive Guide
Hive Guide
The Hive, our agent-based mining system, eliminates the need for specialized hardware—whether it's a Raspberry Pi or a standard desktop PC, you’re good to go! The system revolves around the concept of worker bees, which can be created by any PLHV holder, transforming them into a beekeeper.
Once they mature, worker bees have a finite lifespan, during which they exist within the blockchain, contributing to its security by minting blocks. Beekeepers earn rewards whenever one of their bees successfully mints a block.
Global Index checks all the hives on the network to determine profitability. If the GI is less the 100, all bees created are likley to be profitable.
Bees are created by the beekeepers and mature over a period of 1 day or 1152 blocks. The population graph allows beekeepers to see upcoming hive sizes.
Once bees are mature they live for 2 weeks trying to mine blocks for the beekeeper.
The bees not only reward the beekeepers with hive blocks they help keep the network secure from attacks.
The hive difficulty in the network dynamically adjusts based on the current bee population, ensuring that, on average, only one bee in the entire network successfully hive-mines a block. Occasionally, orphan blocks may occur when multiple bees mine a block at the same height. This is normal and nothing to worry about.
If your bees mine a block but another bee also succeeds, you might see "Generated but not accepted" block rewards in the Transactions tab. Only confirmed block rewards are displayed in the Hive tab, and once rewards appear there, they are permanent and will not disappear.
HiveMining lets any PLHV holder participate in block mining and blockchain security without needing specialized hardware, all while maintaining extremely low energy consumption.
In the Hive tab of the core wallet, you can use PLHV to create worker bees—these are mining agents within the blockchain that extend the chain and earn block rewards on your behalf as the beekeeper.
Bee Creation Form
The cost of creating a bee is a percentage of the current block reward and only changes with reward halvings. You can create as many bees as you want at once, but remember that the PLHV used for bee creation is permanently destroyed.
Before creating bees, it’s recommended to check the Global Index, which should be below 100 to ensure profitability. For more information about the Global Index, see the related resources.
PLHV and the Community Fund
The PLHV spent on bee creation is destroyed forever; it doesn’t go to the dev team or any individual. However, you can choose to donate 10% of the bee creation cost to a community fund, which supports further development. This donation is optional and does not affect the total cost or number of bees you receive.
Once your bees are created and the transaction is confirmed, they’ll appear in the “Your Hive” section of the Hive tab.
Bee Maturation and Lifespan
Bees take approximately 1,152 blocks (around 24 hours) to mature, during which time your wallet can be offline. After this period, your bees will live for 16,128 blocks (about two weeks), during which they can mine as long as your wallet is connected to the network.
While active, bees attempt to mine a new HiveMined block every time a new proof-of-work block is observed. This process is nearly instantaneous, with minimal energy usage, even for large hives.
If successful, your wallet receives the block rewards and any transaction fees, just like a proof-of-work miner. Hive difficulty adjusts automatically to the number of active bees, ensuring only one bee mines each block. Orphan blocks can occur if multiple bees succeed simultaneously, but they are a normal part of the process. Unconfirmed block rewards will show up in the Transactions tab, and confirmed rewards appear in the Hive tab.
Hive Weight
Your hive weight, displayed in the Hive tab, represents your share of the total active bee population. For instance, if you own 1,000 bees out of 10,000 active bees, your hive weight is 0.100, indicating a 10% share of the network and corresponding likelihood of mining a block.
Hive Status Icon
The hexagonal Hive status icon at the bottom-right of the wallet shows green when your bees are mature and working. For any other color, hover over the icon for more details.
If your wallet goes offline while your bees are active, they won’t be able to mine, but their lifespan will continue to decrease as the blockchain extends.
The Bee Population Graph is a visual representation of the total number of active bees (mining agents) on the network over time. It provides an overview of the network's current and historical mining activity, helping users understand the level of competition and network security.
Total Bee Count
The graph displays the total number of active bees across the network at any given time. This count is updated as new bees are created or existing bees reach the end of their lifespan.
Trends Over Time
The graph shows changes in the bee population over time, allowing users to spot trends such as:
Growth Spikes: Large numbers of bees being created, possibly after reward halvings or significant network updates.
Declines: Decreases in the population due to bee lifespans ending or reduced activity from users.
Network Health Indicator
A larger and stable bee population indicates a healthy and competitive network. Conversely, a declining population might suggest reduced participation or less interest in HiveMining.
Impact on Hive Difficulty
The graph indirectly reflects changes in Hive difficulty. A higher bee population results in increased difficulty, while a lower population decreases it. Users can use this information to assess their likelihood of successfully mining blocks.
Strategic Insights
By analyzing the graph, users can decide the best times to create bees. For instance, a lower bee population may offer better opportunities for profitability due to reduced competition.
In essence, the Bee Population Graph is a valuable tool for understanding the dynamics of HiveMining and making informed decisions about when to create bees and participate in the network. It complements other metrics, such as the Global Index and Hive Weight, to provide a comprehensive view of the HiveMining ecosystem.