Yes, our affiliate Hop Links will track referrals to your site and any commissions earned on sales resulting from those referrals; however, it's not strictly necessary for the buyer to purchase immediately after following the Hop Link, nor would you need to create a new product every time you make a new blog post, as you can simply update old Hop Links to point to the new post.
When a buyer clicks a Hop Link, we set a referral cookie in their browser and then redirect them to your landing page URL for that link. This cookie expires in 6 months, so anything they purchase from you during the lifespan of that cookie will track the affiliate's referral and any commission they earned accordingly. You can update the landing page URL for your Hop Link(s) at any time -- e.g., to have it redirect to your latest blog post -- and all previous versions of that Hop Link issued to affiliates would immediately start redirecting to the new page.
You have the choice to set up a Common Hop Link (which typically redirects to your main sales page) and/or a Product Hop Link for any particular item(s) (which typically redirects to your sales page for that item, or you could have these point to your latest blog post for the item). If you set up a Product Hop Link for any item, you should also specify a Product Share %, which overrides your Common Share % on all referred sales of that item (you can just set the same % for both if you don't want them to differ).
Regardless of which kind of Hop Link the buyer followed, the referring affiliate would earn your Product Share % on any purchased items that have one, or your Common Share % on any other purchased items -- i.e., it's not necessary to use a Product Hop Link to earn the Product Share %, though you do at least need to enter a Product Hop Link Landing Page URL in order to have a Product % override the Common % on all referred sales of that item.
This help page explains our affiliate system and related settings in detail:
...and we also have a help page for affiliates, explaining our system from their perspective: