Insights on HIVE POWER ICO
Mar 25, 2018 Posted / 8128 Views
Hive provides a distributed energy market platform where every prosumer can exchange its energy consumption and production. It comprises of few entities like the Worker, the Beekeeper and the Queen to form the Hive network.
The worker: A Worker is a blockchain enabled electrical meter and it is generally linked to a prosumer, e.g. a single appliance, a single family household, a storage system, a solar power plant, an industrial facility. A Worker belongs to a single Hive. A Worker measures and certifies its own energy production and consumption, and joins the Hive energy market.
The purpose of the Beekeeper contract is to manage and track the Hives creation and deletion. The Beekeeper contract is able to add new entries in the lists and to edit the existing ones. On the other hand, it does not delete anything, to maintain an exhaustive list of meters and Hives.
The Queen: The main goal of the Queen is to help the Workers coordination, by collecting the production and consumption forecasts of the single Workers, aggregating them and communicating them back to the Hive in an anonymous form. The Queen also collects data about energy production/consumption related to the Workers and distributes the corresponding fiat to the Workers retaining a part for the Hive owner.
1. Enables the decentralized energy revolution
2. Guarantees benefits for consumers and producers
3. Optimizes your energy assets profitability
4. Enhances your local energy share
5. Increases electrical grid reliability
It will start on 23rd April which will end on 14th May.
54% of the tokens will be allocated for Sale.
10% of the tokens will be allocated for Founders
3% of the tokens will be allocated for Referral and Airdrop
33% of the tokens will be allocated for Company
65% of the funds will be allocated for Research and Development
15% of the funds will be allocated for Expansion
20% of the funds will be allocated for Pilot Projects
SOFT CAP: 1M USD
HARD CAP: 11M USD
Two types of tokens are needed to operate the Hive Power platform.
Hive Token: The Hive Token (HVT) is an Ethereum token managed by a smart contract. The purpose of HVT is to be used for creation and management of Hives and meters and participate to Hive Power platform governance. HVTs have a finite supply (100’000’000) and will be created only once, during the upcoming Token Generation Event. The Hive Token is a standard ERC20 token.
Stable Tokens: The Hive Power platform is designed as an open framework that can be used by any actor anywhere for multiple use cases. Due to its volatility Ether is not suitable to be directly used for the energy payments without integration of external price oracles, a complex solution. Therefore Hive Power platform payments will be operated via stable tokens, pegged to national currencies or any other kind of stable assets.
Hive Power Beta (Q4 2017 - Q2 2018): The Beta version will focus on a single self-consumption community, a rather simple use case even considering the existing regulation.
Demo Hive testbed
In order to develop a preliminary case of the self-consumption community and the Ethereum meter prototypes, in Q4 2017 Hive Power built a first demo testbed, following called Demo Hive and aiming to simulate a simple
case of a Hive.
Hive Power 1.0 (Q2 2018 - Q1 2019)
At this stage, the Hive Power platform will be fully operational regarding the basic functionalities.
Hive Power 2.0 (Q1 2019 - Q1 2020)
At this stage, the Hive Power platform with basic functionalities is validated and so available for the operation in low voltage district grids. Innovative features will be implemented to improve economic and technical performance.
Hive Power 3.0 (Q1 2020 and beyond): After the release of version 2.0 many advanced features will be investigated:
Investment pool: Workers and owners can decide to reinvest the profits in the Hive infrastructure (generation, storage, transport). The investments will increase profits by exchanging with nearby Hives.
Topology discovery: When a new worker is activated it will discover autonomously the available Hives.
Self-healing: A fault is automatically detected by the Hive and the involved component is flagged as defective. The Hive behavior adapts to overcome the current faults by activating spare flexibility.
Multi-owner Hives: Multiple entities will be allowed to be co-owner of a Hive, sharing decisions, revenues and risks.
User App: It is the preferred way to interact with the Hive. The main principle behind this app is ”install and forget”. After the initial setup of the system the user can forget about it, the Hive mechanism automatically takes care of normal operations.
Admin App: It is a web application used by each Hive Owner to maintain its own Hives. The access to the Admin App is granted by using the Hive Owner’s HVT wallet.
The goal of Hive Power is to create energy sharing communities where all participants are guaranteed to benefit from the participation, reaching at the same time a technical and financial optimum for the whole community. This is achieved by devising a mathematically sound market mechanism that incentives the participants to collaborate with each other, coordinating their production and consumption.
Applancer is an open platform for discussion on all things like Blockchain , Cryptocurrency and Ico news updates. As such, the opinions expressed in this article are the author's own and do not necessarily reflect the view of Applancer .
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