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Reimagining A Cryptocurrency Energy Economy with Hive Power

We’ve always claimed that our vision at Hive Power is to create a world that shares energy to ensure a better and brighter future. One of the ways we are doing just that, is by bringing solutions to a range of challenges being faced not just in the energy market, but also across blockchain technologies and projects. We thought we would take a moment to explore some of the key problems cryptocurrency energy initiatives are currently facing and how Hive Power is reimagining better ways forward.

Problem 1: The energy market needs to evolve towards a more sustainable, economic future.

As the energy market has begun to shift away from larger power plants to smaller decentralized sources, a major gap exists in the development of exchange models that can help keep energy usage sustainable, while also lowering prices for consumers.

The Hive Power Solution: While, the energy market is certainly facing an array of challenges, we created a turnkey solution utilizing Ethereum based smart contracts to mitigate the most pressing energy industry issues.   

We designed the Hive Token (HVT) to allow users to create and manage what we call “Hives”- distributed energy market platforms that can be implemented using Ethereum based smart contracts.  Just think, if you or your neighbor had an excess of energy, but, also had the ability to share this usable power with another individual in your community, it could strategically reduce costs for all involved, optimize the consumption and create a more sustainable model for future demands on the grid.  For those already looking to control their own energy future, registering for our ICO at https://icoengine.net/ico/hive-power might be your solution.

Problem 2: Lack of research and expertise across cryptocurrency teams and leadership  

Blockchain projects are often led by teams that may understand cryptocurrency, but have a very limited expertise in the business sector with which they intend to operate. This has left buyers, enthusiasts and users with a quickly dwindling value.  The failures of a large number of projects can often be attributed to a lack of research and expertise on all levels.

The Hive Power Team Difference: The team at Hive Power has always been proud to be a part of  the world’s most well regarded and sophisticated research institutions exploring the energy industry. In fact, our startup was incubated at SUPSI (The University of Applied Sciences and Applied Arts of Southern Switzerland) and developed based on deep knowledge and expertise earned over years of academic and corporate research. From our CEO’s career as asset manager for European solar parks to our COO Davide still leading the Energy systems research sector at SUPSI today, we maintain an in-depth knowledge of  the challenges we face and the solutions we can offer. A detailed guide to both can be found within our white-paper http://whitepaper.hivepower.tech

Problem 3:  Conceptual projects lacking real-world business initiatives.

 A wide variety of cryptocurrency projects have dynamic sounding solutions to some of the world’s most pressing social and financial problems, but no real idea on how to achieve them, or the actual operational capability to see them through.

The Hive Power Way: Hive Power is more than a concept or just a sales pitch that has been coupled with a flashy white paper. We have developed our technology prototype and are already working with world-acclaimed partners who span the corporate, public and academic sectors. It is these strong relationships that have already helped to move our project from its idea phase, into being actionable. It’s not only that partners like Landis-Gyr, and the Swiss Government’s center for energy research believe in and support the work that we are doing,  but that they are actually hand-in-hand helping us to enter the market successfully. Have a great idea on who else we should partner with next? Bring it up on our telegram community and join the conversation. https://t.me/hivepower

Make sure to stay tuned for “Reimagining a Cryptocurrency Energy Economy Part 2”, where we will provide depth on the core technologies we are working, how they are being implemented and how we differentiate from our competitors.  

Key links:

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Exciting New Partnership Announcement for Hive Power & Liquidity.Network

We are thrilled to announce a strategic partnership between Hive Power & Liquidity.Network.


Why Hive Power and Liquidity Network perfectly fit together?

Crafting and maintaining energy communities that collaborate through a public blockchain requires a scalable, congestion resilient and secure payment settling system. As participants will develop their respective optimizations and efficient trading strategies, the settlement system has to remain responsive and cost-efficient, even in the event of a significant growth.

Liquidity.Network’s off-chain payment system is the current state of the art real-time off-chain payment solution that has already been deployed on the Ethereum Testnet. Opening payment channels is performed off-chain, and thus for free, which allows the Hive Power communities to grow significantly while keeping operating costs to a minimum. Liquidity.Network’s trustless solution moreover features no rigidly locked funds, low maintenance costs, easy routing and off-chain refills. As such, Liquidity.Network’s solution perfectly fits Hive Power’s market solution.


Energy Market Disruption

Energy markets are undergoing enormous changes, pushed by the increase of renewable generation and the emergence of innovative smart grid solutions. It’s likely that we will move towards a regional approach to grid control and security of supply. Newly improved price signals will be needed at a local level and energy markets will develop in the distribution grid to efficiently deal with problems like balancing and demand-side management. A higher number of stakeholders will be involved in these markets, as small producers and consumers will join them.

As a consequence, the amount of energy traded per market participant will decrease but, at the same time, real-time pricing will become more important, especially for grid balancing.

Let’s summarize:

  • Local energy markets are coming
  • Trading will be fast, to respond to rapidly changing price signals
  • Many stakeholders will be involved
  • The amount of the energy per trade will be small, corresponding to micro payments

Hive Power aims to lead this transition. Hive Power’s core business is the development of a turnkey solution for the creation and management of local energy communities on the blockchain, providing an economic optimization through the development of efficient trading mechanisms. For such solutions to work, there is the fundamental need for an efficient way to transfer money between the market participants in a fast, secure and cost-efficient manner.


Liquidity.Network for Scalable Payments

When one attempts to implement local energy markets on a public blockchain purely based on smart contracts, one systematically clashes with the reality of having to pay too high transaction fees (both in money and in energy) and with a clear lack of scalability. Among the strategies proposed to deal with these issues, off-chain transaction systems are at moment those with the highest odds of success, at least in the short term.

That’s where Liquidity.Network comes into play. Liquidity.Network off-chain payment network is perfectly tailored to Hive Power’s market solution, as it allows real-time small value transfer at very low transaction costs in a secure and transparent way (actions are auditable). Another important innovative aspect of Liquidity.Network’s solution, which distinguishes it from other off-chain payment solutions, is the implementation of n-party payment hubs. This is ideal for Hive Power’s use case, in which the number of market players can be high and, under certain circumstances, they will not know a priori with whom they will trade.

Liquidity.Network’s Competitive Advantages

This Section outlines the competitive advantages of Liquidity.Network with respect to alternative off-chain payment systems. As Hive Power’s platform is based on the Ethereum blockchain, we compare Liquidity.Network with Raiden, a known off-chain payment solution for Ethereum, and discuss why we believe that Liquidity.Network offers a better alternative.

Low Maintenance Costs

In Raiden for any payment channel (PC), a user has to deploy a new contract on the blockchain. This design choice results in a huge number of equal contracts deployed, instead to have a unique one able to manage (i.e. open/close/refill) many PCs. Besides, the contracts proliferation has no benefits in terms of security, being all of them equal and so vulnerable to an eventual bug.

Liquidity.Network provides a light and secure approach to the creation of new PCs. Opening a payment channel is free and instantaneously done off-chain (see https://wallet.liquidity.network). Opening a payment channel moreover does not require the deployment of new contracts, avoiding to have a huge amount of equal contracts operating on the blockchain.

No Rigid Funds Locked

In Raiden, only 2-party payment channels can be established and each one of them requires collateral to be locked up. Using this solution for the implementation of a local market with a decent amount of users would require a huge amount of collateral to be staked.

Liquidity.Network provides n-party payment hubs. No collaterals are required for the channel openings, while trustlessness is retained. The overall collateral requirements of a Liquidity.Network hub are significantly lower than if Raiden were to build a hub using their 2-party payment technology.

Off-chain refill

A refilling of an open PC can be performed in Raiden, but only with an expensive on-chain transaction.

In Liquidity.Network refills of the PCs can be performed without on-chain transactions.

Easy Routing

Being based on a hub-network structure, Liquidity.Network requires significantly less routing than non-hub solutions like Raiden. Indeed, practically the routing acts at the hubs level, which can be efficiently interconnected in terms of decentralization and redundancy.

As it can be seen, the benefits of implementing Liquidity.Network as an off-chain payment system are substantial. With this solution, the energy sharing communities are guaranteed the ability to transfer money between the market participants in a fast, secure and cost-effective manner. For this reason both the Hive Power and Liquidity.Network teams are thrilled to work together towards the revolution of the energy market, where local energy communities will prevail, trading will be faster, and a lot of stakeholders will be involved.


We refer you to learn more about Blockchain payments for everyone by Liquidity.Network:


To learn more about the energy sharing communities by Hive Power go here:


Don’t forget to join our Telegram Channel: https://t.me/hivepower

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Collaboration with Eidoo ICO Engine for Hive Power’s Crowdsale — Everything you need to know

Hive Power is happy to collaborate with Eidoo ICO engine in order to be completely compliant with the new regulations of the Swiss Financial Market Supervisory Authority FINMA released earlier this year. Among other things, the regulations are focused on anti-money laundering, that includes the need of establishing the identity of beneficial owners.

This is where Eidoo ICO Engine steps in, providing Tier 1 and Tier 2 identification for its users. In this step-by-step guide you will find how to register to Eidoo ICO Engine and how to participate to the Hive Power crowdsale on the 12th of June 2018.


To participate to the Hive Power ICO, you need to register to the Eidoo ICO Engine website and identify yourself through the KYC (Know Your Customer) procedure. In order to do so, you need to complete Tier 1 (up to 3.000 CHF per year) and Tier 2 (up to 500.000 CHF per year). For each Tier, you will be required to provide different documents, which will be specified below. This is necessary in order to comply to future AML (Anti Money Laundering) requirements and to avoid unauthorized people to participate in the ICO.

After the KYC procedure, you will receive your referral link and you will be able to participate to the Hive Power airdrop!


Following, there’s a step-by-step guide to help you going through the KYC procedure, get your referral link and participate to Hive Power airdrop!

Before starting, note that Chinese and U.S. citizens won’t be able to join the ICO.

1) Download the Eidoo app

The app is available for iOS and Android. You will get your wallet address, necessary to send ETH and buy the tokens.

Please, use Google Chrome from now on.

2) Register on the Eidoo ICO Engine Website

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Go to Eidoo ICO Engine

To register, you will need to provide the following information: name, surname, email, and password.

You will receive an email with a link to confirm your registration. This link will redirect you to your first log-in.

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In the upper-right corner of the page, click on your profile. Now you will see your profile page: you can enter your name and surname (or a nickname), photo, description and choose your privacy settings.

Finally, you can add a 2-factor authentication using Google Authenticator for increased security.

3) Identification — Tier 1

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To complete Tier 1, click on the left menu the “Identification” item.

Remember that Tier 1 will allow you to join the ICO with a maximum of 3.000 CHF per year.

Here you will need to enter the following information: name, surname, address, house number, city, zip code, country, email, telephone number, nationality, date of birth, etc. You will also need to enter your Eidoo wallet address and declare that you are not an American citizen or subject in any way to US taxation.

4) Identification — Tier 2

After completing Tier 1, accept the “Terms and Conditions” and click on “Upgrade to Tier 2”.

Remember that Tier 2 will allow you to join ICOs with a maximum of CHF 500.000 per year.

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In Tier 2, you will be asked:

  • To proof your identity (passport OR driving license OR identity card)
  • To proof your residence (bank statement OR utility bill)
  • A selfie (you can upload it OR take one with the webcam)
  • To select the type of verification (private OR business)
  • To agree to term and conditions

Depending on whether you click on “Private” or “Business” you will need to fill form A (private) or form K (business). Some fields of this form will be automatically filled. Finally, you will need to sign the document by using the Google Authenticator 2FA (2 Factor Authentication).

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5) Connect the ICO Engine profile to the eidoo wallet

After completing the KYC procedure, you need to connect your verified ICO Engine profile to your eidoo wallet address. To complete this step, return to your profile page and click on the left menu the “My addresses” item. Here you will need to insert your eidoo wallet address, which is obtained with the download of the eidoo app (Step 1).

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6) Buy the HVT tokens

Finally, to buy the Hive Token, you need to log-in on the eiddo app, click on “ICO list“, choose the Hive Power ICO and insert the amount of ETH you want to use to buy HVT.

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7) Referral URL

After the registration, the participants will receive a unique referral URL (on the website). This URL will be used to reward participants who will promote Hive Power to their friends: participants will receive a token bonus equivalent to the 5% of tokens bought by referred buyers. The bonus tokens will be distributed from the Airdrop and Referral Program fund, after the end of the Crowdsale.

Guide to get your referral link

The referral link can be found at the Hive Power profile on ICO Engine: https://www.icoengine.net/ico/hive-power.

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Once you click on the “get referral code” button, the system will generate your unique referral code that you can share with your network.

Here you can see an example of the generated code:

Referral 2 HD

If you want to see all the referral links you have, you can easily do this from your ICO Engine personal profile: https://icoengine.net/profile/referrals.

The greater your referral clicks, the bigger your reward for spreading the word about Hive Power!

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8) Airdrop

In August 2018, Hive Power will distribute 500’000 HVT tokens to reward HVT token holders. Users who didn’t move their HVT tokens after the Crowdsale will be eligible to receive the airdrop. The airdrop fund will be distributed to token holders proportionally to their HVT balance.


Something isn’t clear? For questions please join our Telegram channel https://t.me/hivepower.


At Hive Power we are enabling the creation of 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.

Join our Telegram Channel: https://t.me/hivepower

Key links

 

Hive Power Referral Program with eidoo ICO Engine

Hive Power KYC process and Referral Program on eidoo ICO Engine are now active.

You can find detailed information about the ICO Engine registration here.

 

After the registration, the participants will receive a unique referral URL. Participants will receive a token bonus equivalent to the 5% of tokens bought by referred buyers. The bonus tokens will be distributed from the Airdrop and Referral Program fund, after the end of the Crowdsale.

Note: Users who didn’t move their HVT tokens after the Crowdsale will be eligible to receive the Hive Power airdrop. The airdrop fund will be distributed to token holders proportionally to their HVT balance.

Read our Airdrop and Referral announcement here.


Referral Program

The referral link can be found at the Hive Power profile on ICO Engine: https://www.icoengine.net/ico/hive-power.

Referral 1

Once you click on the “get referral code” button, the system will generate your unique referral code that you can share with your network. Here you can see an example of the generated code:

Referral 2

If you want to see all the referral links you have, you can easily do this from your ICO Engine personal profile: https://icoengine.net/profile/referrals.

The greater your referral clicks, the bigger your reward for spreading the word about Hive Power.

Referral 3

Something isn’t clear? For questions please join our Telegram channel https://t.me/hivepower.


At Hive Power we are enabling the creation of 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.

Join our Telegram Channel: https://t.me/hivepower

Key links