Hive Power (HVT)

Hive Power develops a platform which provides consumers with the possibility to benefit from the creation of electrical energy communities on the Ethereum blockchain. Within those communities, neighbors can share their energy with each other, taking advantage of convenient tariffs.

Whitepaper

Important By investing in this business you agree to ourDisclaimer. All information including our rating, is provided merely for informational purposes. CryptoTotem does not provide investment advice.

What is Hive Power

Hive Power platform takes into account technical aspects, such as cables, power rating, and voltage limits in order to provide an optimal solution that achieves multiple objectives. Hive Power is designed for the current grid configuration, enabling the electrical grid to operate safely and cost-effectively by ensuring a fair and resilient energy market for all actors involved.

Each Hive contains a Queen, which collects the energy forecasts and coordinates the energy production and consumption of the Workers in the Hive. Each Hive has a unique Administrator. Hive Power administrator also manages the local grid infrastructure and ensures that the Ethereum Meters are installed correctly. In the Hive Power framework the interaction between a Hive and its Administrator is not direct, but it is mediated by a smart contract called the Beekeeper.

The Hive smart contract has the main functionality to manage a single hive. An instance of this contract is deployed on the blockchain by the Beekeeper if a sufficient staking of HVTs is provided.

Hive Power will set up a governance system to allow all HVT holders to provide input and feedback on the upgrades of the Beekeeper Contract, allowing them to address the development of this service, and as a consequence, to influence the entire project framework.