About HiveNet

HiveNet is a distributed cloud computing network, which allows computer owners anywhere in the world to safely rent out their idle computing resources for income. Customers pay for these computing resources to do their valuable work. Customer payments are forwarded to the computer owner in a fast and secure micro-transaction HiveCoins through HiveNet Blockchain.

HiveNet uses several steps to easily withdraw HiveCoin income, for example HiveNet debit cards. Task allocation and result validation are done through artificial intelligence, which ensures high efficiency and prevents fraudulent behavior.

Can you imagine your computer making money while you sleep? HiveNet turns your computer's idle time into income! During this time, your computer's power is leased safely to paying customers who do the calculations (e.g. Scientific research, weather forecasts, big data analysis).

Basic Information Token

HiveNet User Client

The HiveNet Client Client is an all-in-one user tool and includes computing, blockchain and wallet module software. This enables easy and user-friendly handling without the need for in-depth technological knowledge.

Blockchain

HiveNet Blockchain is secured by a highly efficient Evidence-betting consensus mechanism. This is specifically optimized for HiveNet and combines high security with fast transactions.

Management system

HTMS is the core technology of HiveNet's decentralized cloud computing network. This ensures optimal orchestration of customer tasks, secure validation of computing results and fair payment from the computer owner.

Benefits of HiveNet

Computer Owner

How many hours per day do you really use your computer? Just imagine that your computer is profitable for the rest of the day. HiveNet makes it possible by giving valuable computing tasks to pay customers to your computer. All you need is a computer with an internet connection.

Customer

HiveNet is much cheaper than traditional cloud computing. How? Because many important cost levers that apply to traditional providers (eg Amazon Web Services) do not apply to HiveNet, because they use the available computer idle time. So, there is no need to invest in new computers, housing and many other operational costs.

Crypto Trader

HiveNet has an inherent cryptocurrency: HiveCoin. HiveCoins is used to pay for computing power in HiveNet. With this, ongoing demand for HiveCoins is ensured and will create one of the few cryptocurrency with real and fundamental value, which provides excellent short-term and long-term opportunities for traders.

Natural

HiveNet increases the use of available computers. Thus less resources are consumed to build new computers and less electronic waste is created. Also, HiveNet Blockchain uses a very economical Proof-of-Stake consensus mechanism, which saves more resources than most available blockchain.

Problem

In the last decade cloud computing has become a well-adopted technology and almost every business relies on cloud computing services. Cloud computing has enabled the implementation of user-defined computing activities with high flexibility regarding quantity, time and location and is the preferred choice when possible. As such, global demand for cloud computing is increasing at an increasingly fast pace. Between 2018 and 2022 the market is expected to increase from around 180 billion USD to around 330 billion USD.

This rapid growth is served by the divisions of each large company such as Amazon (AWS), Google (GCP), Microsoft (Azure) and Alibaba (Alibaba Cloud). Their customers are trapped, because moving will require painful and unreasonable investments into hardware and personnel. As a result, large providers can determine prices, which allows them to generate extraordinary profits from their customers. For example, AWS represents more than 72% of Amazon's entire corporate profits in 2018 [2].

The solution

HiveNet offers technology solutions to take advantage of this idle time. In this way, computer owners can benefit from their computers, when they don't use them. HiveNet will achieve this by creating an isolated environment on computers, which will allow leasing computing power to cloud computing customers, while still ensuring security against potential threats (see the Distributed Cloud Computing chapter for details).

In addition, HiveNet is also good for the environment, because it will increase the use of available computers. Therefore, less resources will be consumed to build new computers and less electronic 

waste will be created.

HiveNet User Experience

HiveNet aims to break down these barriers by including appropriate steps to simplify the user experience. In this way, HiveNet will even attract customers and users, who have no clue about cryptocurrency and don't care at all.

Computer owners will be able to withdraw their HiveCoin earnings through various channels, including common options, such as using a debit card or PayPal.

HiveNet token

The HiveNet will initially be funded through the sale of HiveNet Tokens (HNT). HiveNet Token is an ERC-20 token and is compatible with many wallets and other third-party systems [10]. The company aims to place the HiveNet Token on several digital currency exchanges to enable their easy trading.

All details about the upcoming sales of HiveNet Tokens will be announced at www.HiveNet.cloud . If you don't want to lose the opportunity to participate, be sure to subscribe to the e-mail newsletter and / or follow the company's social media channels.

HiveNet Ecosystem

After the launch of HiveNet, the HiveNet Token will be translated 1: 1 into HiveCoins. HiveCoin will become an intrinsic and fundamental currency in HiveNet. HiveCoins will freely trade on digital currency exchanges for other currencies, such as Bitcoin, Ethereum, US-Dollar, Euro, Renminbi, etc. The flow of HiveCoins and fiat money in the HiveNet ecosystem is summarized in the following graph and successive text. For an overview of participants in the HiveNet ecosystem.

Customers can pay with HiveCoins or for convenience with their local fiat money. If they pay in banknotes, the bulk of their payments are automatically exchanged for digital currency exchanges to HiveCoins. These HiveCoins are under the control of the Prize Application and are used to reward providers for their computing power.

HiveNet Task Management System (HTMS)

The HiveNet Task Management System (HTMS) will be the HiveNet’s core technology, which willconsist of several individual modules.

The HTMS will apply artificial intelligence to organizeeverything regarding tasks, including but not limited to the following:

1. Initial task evaluation
2. Benchmarking of Distributed Cloud Computers (DCCs)
3. Task assignment and data transfer
4. Uacking of task computing progress
5. Validation of results
6. Transfer of results to customer
7. Calculation of provider performance data
8. Anti-virus checks of tasks and results

Provider Credibility Ratings

The HTMS will constantly rate the credibility of all providers in the HiveNet. The credibility ofproviders will depend upon many factors.

The most important ones are:

1. Successfully passing all client software checks (any evidence for manipulations raises a red flag)
2. Accuracy and consistency of sent information (manipulated data raises a red flag)
3. Correct results in benchmarking tests (wrong results raise a red flag)
4. Results from previous task validations
5. Amount of performed computations in the network (accumulated positive reputation)
6. Customer feedback

HiveNet Blockchain

During the conceptual design of the HiveNet, we intensively discussed, whether the HiveNet is betterimplemented into a pre-existing blockchain platform for DApps, like Ethereum or EOS, or whethersetup of a dedicated HiveNet Blockchain is favorable.

A blockchain, which is hosting the HiveNet, needs to fulfill several critical requirements:

Very high scalability, because a fully functional HiveNet may continuously require an enormousamount of micro-transactions for provider rewards.

Very high security, for obvious reasons.

No transaction costs, because HiveCoins will have high circulation rates and profit margins ofproviders must be protected. Transaction costs would harm the ecosystem.

High sustainability and safe future, because the HiveNet is meant to be a sustainable networkwith long-term use.

TEAM

• Member Maximilian Pinker, CHIEF EXECUTIVE OFFICER
• Dr. Andreas Bogner, HEAD OF TECHNOLOGY
• Qiao Pinker, HEAD OF FINANCE
• Evelyn Gu, SENIOR MARKETING MANAGER
• Debasis Ratha, SENIOR SOFTWARE ENGINEER

FURTHER INFORMATION:

Author (Ar rahman)

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