Hive Power develops a platform which provides consumers with the possibility to benefit from the creation of electrical energy communities on the Ethereum blockchain.
Price on ICO
Jun. 12, 2018
Jun. 30, 2018
Starts in 17 days
The Hive Power platform is a decentralized autonomous organization (DAO). 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.
The Hive Power provides a distributed energy market platform where every prosumer can exchange its energy consumption and production. The basic component of a Hive is a Worker. A Worker is a blockchain enabled electrical meter that belongs to a single Hive and 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 measures and certifies its own energy production and consumption, and joins the Hive energy market.
More precisely, the interface with the electrical grid is monitored by an Ethereum Meter equipped with a hardware oracle, a cryptographically attestable anti-tampering sensor. The certified energy data from the hardware oracle is gathered by a blockchain computer and tokenized by a smart contract. A Worker also includes a forecasting service that predicts the energy consumption/production and an energy bidding system interacting with the Hive through the worker smart contract.
The User App is a preferred way to interact with a 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.
There are two types of tokens needed to operate the Hive Power platform: the HVT token and the Stable token.
The Hive Token (HVT) is an Ethereum ERC20 token managed by a smart contract. The purpose of HVT is to be used for creation and management of Hives and meters and participate in Hive Power platform governance. The HVT token is used to control and manage the operation of the Hives and to perform technical governance of the platform. The Hive Power platform is designed as an open framework that can be used by any actor anywhere for multiple use cases. Hive Power platform payments will be operated via stable tokens, pegged to national currencies or any other kind of stable assets.
The founders (5 guys) of Hive Power have a wide academic and interdisciplinary background in the field of distribution grids/smart grids ranging from micro-technical engineering to applied mathematics and informatics. In the last seven years they gained important insights in developing an innovative algorithm based on a self-learning approach to the typical challenges of load management in smart grids. One of the largest utilities in Switzerland has integrated this approach in a new product to be sold on the Swiss market by autumn 2017 under the trademark GridSense.
The Hive Power is a strong project that solves a specific and clear problem. Considering the current level of development of the market, a favorable moment has been chosen. The power sector is facing a paradigm change, moving from a centralized structure, with big power plants (hydro, coal, gas and nuclear), leading to a decentralized energy environment (DER), such as solar and wind.
The project has presented a quality Whitepaper. If you are an ICO-investor, we strongly recommend that you study it, at least you will enjoy it. In addition to the general description of the product, the sections that are usually left in the shadow are worked out in detail: security risks and anti-fraud mechanisms; the format and amount of information stored in the blockchain; the problem of utility-token volatility, etc.
The project has a working demo prototype (Demo Hive), where the key features are already implemented – the main nodes of the system and the modes of operation. The hardware of the prototype is emulated on Raspberry Pi 3.
The main version of the platform will be developed in three iterations. The first one is planned for Q2 2018, the last one will be implemented in Q1 2020. We consider the timeline as realistic, because it reflects the complexity of a project of this scale. This shows the experience, qualifications and maturity of the team one more time.
Telegram channel of the project has about 3500 subscribers.
Without a doubt, we give 5.0 to the project and wish the team good luck!
Hive Power develops a turnkey solution for the creation and management of local energy communities on the blockchain, providing an economic optimization for their participants by lowering their bills and valorizing their assets. In collaboration with meter producers, Hive Power is building a blockchain ready energy meter, which allows to safely tokenize energy.
Differently from its competitors, in addition to the blockchain platform Hive Power also provides an efficient energy trading mechanism perfectly tailored to the use case of energy communities. The HONEY algorithm exploits customers’ flexibility to optimally match production and consumption, such that the community’s welfare is maximized and grid technical constraints are satisfied.
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