Hive Power Platform
Building Energy Communities Secured by the Blockchain.
The Hive Power platform aims to create a marketplace for energy-sharing that is a more sustainable and efficient alternative to the current energy generation and supply chains. It will accomplish this by enabling the development of community energy networks. By doing so, it also hopes to lower electricity costs and to allow individuals a sustainable source of extra income.
There is currently a shift occurring away from traditional energy production, whereby more and more individuals are adopting self-generating energy solutions, such as through solar and wind power sources. There are also new methodologies being adopted to share and monetize the excess energy that is produced, but these infrastructures still require further development in order to be scalable and efficient in distributing this energy. Hive Power hopes to address these problems as well.
Hive Power Platform – The Problems
- Natural energy production is unreliable.
- The lack of continuity also creates strain on the energy generators.
- Individuals therefore need to switch between different energy supply sources in order to maintain the necessary amount of power flow.
- This creates a strain to centralized energy supply sources who are suffering increasing reductions in power demand, while still accruing the maintenance costs. This will likely result in increased electricity costs, thereby undermining the savings made by adopting personal natural energy solutions.
Hive Power Platform – The Solution
- The Hive Power platform plans to develop a decentralized power grid that will allow for all players to contribute, receive remuneration and have access to a consistent and sustainable power supply.
- Both centralized and independent energy producers will be encouraged to participate on the system through guaranteed remuneration for their contribution.
- Hive Power will operate off of the existing power grid infrastructure.
How the Hive Power Platform Works
The Hive Power platform plans to facilitate the above through the implementation of their blockchain platform, Hives. This platform is based on the Ethereum blockchain and will allow for payment and transactions of energy to be conducted via smart contracts. User will be able to participate on the platform by means of a smart meter that is connected to both the HIVES blockchain and the Hive platform’s dApp.
The structure is as follows:
These are the maters that the Hive Power platform supplies to all platform participants. They act as the nodes which track that location’s energy usage and production. The Worker then automatically switches between supplying and receiving energy, as well as all transactions that transpire as a result. Each worker can only be designated to a specific hive. Property owners will be able to monitor all activity and transactions on the Worker meter.
This is the central node of a specific Hive that is responsible for calculating and projecting the future energy needs of the Workers within that hive.
- This is a localized marketplace network that the Worker nodes are connected two. It enables participants within a specific community to autonomously transact energy with one another.
- Each Hive can be built either on a micro grid, comprising of a small number of participants, or across a grid that is distributed across a greater geographical area.
They are responsible for the maintenance of the Hive, as well as the distribution and maintenance of the Worker meters. All of this is done indirectly through the Administrator’s admin app.
- This is the protocol responsible for producing the smart-contracts that act as the intermediary between a specific Hive and its administrator.
- It allows for administrator to create and remove a Hive from the Hives platform through their admin app.
- It is responsible for storing all information and transactions that occur within the system, and also outlines which Workers are allowed to participate within a specific Hive.
- Spare HVT tokens will be stored there in case a new Hive or meter needs to be generated.
- They are also responsible for all token-related transactions and charges within the Hive.
- This is done in order to resolve scalability concerns that would otherwise occur.
Hive Power Platform’s Token Utility
There are two Tokens to be used on the platform:
- This is an administrative token.
- Hive Administrators receive a minor fee from transactions for the purposes of upkeeping the Hive infrastructure.
- The Hive Power platform will also charge a transaction fee in order to maintain the overall Hives network and to fund further development.
- These are tokens that are backed by a real-world currency or commodity.
- All transactions will be conducted by means of these stable tokens due to the volatility of regular token market values.
- For this reason, the Hive platform will offer its users the option to connect their credit cards to their Worker’s wallet. The necessary fiat amounts will then be automatically withdrawn from their accounts and exchanged for stable tokens via a third-party platform. These tokens will then be used to transact on the owner’s behalf.
- Only tokens that are ERC-20 compliant will be accepted on the platform.
Hive Power ICO Details
Total Supply: 100 Million HVT
For Sale: 50 Million HVT
Soft Cap: $1 Million USD
Hard Cap: $11.75 Million USD
Price: 1 HVT = $0.25 USD
Payment: ETH, BTC
Start Date: June 12, 2018
End Date: June 30, 2018
First 5 Million Tokens = 30%
Next 20 Million Tokens = 20%
Next 25 Million Tokens = 0%
Remainder = 0%