What Is Hiblocks (HIBS)?

Hiblocks is a social media platform built on the Klaytn blockchain. Klaytn is a public blockchain based on the Ethereum address and algorithm. The Hiblocks ecosystem aims to decentralize and fairly distribute profits generated among the contributors of creative content. On the HIBS platform, users can create, like, and share relevant content for the community.

According to the whitepaper, smartphones have revolutionized personal and social lives. The comfort of access to the internet has changed the individual daily pattern and social communications patterns, which has led to the expansion of online social media networks. However, social media networks have rapidly progressed, resulting in commercializing and monetizing their products rather than promoting high-quality content. Thus, Hiblocks aims to build a healthy social-media network platform that solves the structural problems of status quo social networks.

Hiblocks intends to develop communication between users and promote high-quality content. The platform collects content from various social media networks and creates a space for users' interests, thereby amending the shortcomings of existing social media platforms. The Hiblocks platform seeks to create a beneficial cycle of incentives, including earning rewards to both content providers and consumers, equitable rewards distribution, and transparency.

Additionally, the platform uses a hybrid blockchain, i.e., the Hiblocks blockchain with public and private algorithms. The Hiblocks blockchain helps optimize social-media network platforms while maintaining public blockchain transparency and fair profit distribution. Meanwhile, through private blockchain, the platform aims to protect the users' personal information. The Hiblocks platform also provides various services using blockchain technology, including Hichain for developing their blockchain and Hiblocks for developing their social media platforms.

HIBS is the token used in the Hiblocks ecosystem, and Hi-tokens are the rewards that creative content contributors receive for sharing relevant content. Users can also earn Hi-tokens by participating in challenges that are updated daily on the platform.