Details about hive power platform are here!

in #hivepower6 years ago

Do you know what hive power is? If you are not familiar with it then read this article, you will get to know everything about it! Hive power is the ethereum blockchain platform here you can create as well as control electric energy communities, thus, creating a world where the energy is shared. Hive power tends to go lower down the energy traffic as well as reduce the payback time of the renewable resources. The selling flexibility is provided to the system operators so that they can balance the grid. Let us, now see the challenges faces in the power sector-  

In the power, sector changes are taking place and the centralized structure like the big power plants are moving to the decentralized structures of DER or decentralized energy resources like wind and solar. Now comes the role of the prosumers, but who are they? prosumers are organization or households that produce energy in surplus amount and distribute but at the same time, they also consume the energy from the same grid. Now, the problem is that as there is no centralized planning available and in grids of the lower level there is an increase in the intermittent electric production because of the solar generation penetration. This results in the stress over electrical distribution grid. 

This can further cause the severe problems in the power quality, and cause line congestion as well as voltage violations. To overcome the above-discussed problem it is necessary that investment is made in the infrastructure of the grid.  

Solution to this problem by Hive power-  

Hive power is the decentralized autonomous organization or DAO. This platform aims to create the community which shares the energy and the participants who take part in this get the guaranteed benefit. Also, the community gets the financial as well as technical optimum. For achieving this motive the hive power has created a market where the participants are given incentives for collaborating with the one another as well as coordinating the consumption as well as the production of the energy.  

In other schemes where you can only do the energy exchange, the hive power is a platform that also looks after the technical aspects, power rating, cables, voltage limits, thus, providing the optimal solution to achieve the multiple objectives. This platform is designed for current grid configuration; also it enables the electrical grids to work safely as well as cost-effectively and ensuring a resilient and fair market for all participants.  

How to operate the hive power?  

This platform operated with the help of two types of a token! Among the two token one is HVT token, its control, create as well as manage operation of technical governance and the hives. The second token is a third-party stable token which is used to make the transaction as well as payments on Hive power platform.  

Hive token or HVT- 

 It is the standard ERC20 ethereum coupon which is managed by the smart contract. Hives management as well creation is done using this token, also it includes the ethereum meters registrations within hive and hive administrator participation in the issues of the technical governance. Total of 100,000,000 HVT token supplies is created during the crowd sale.  

How is hive management done using HVT?  

HVTs are needed by the administrator so as to create the new hive. For opening the hive, an administrator has to send required HVTs to beekeeper contracts. the function of the beekeeper contract is to perform “burn & stake” on the received HVTs. this means the 50% HVTs will be burned i.e. taken permanently out of supply while the remaining 50% is staked in the contract.  

Burn function includes the mechanism where the hive administrator is discouraged from performing unnecessary operations of hive management. Also, this in turns helps hive power platform in maintaining as well as achieving the stable functioning.  

After new hive creation, hive administrator is allowed to send additional HVTs to beekeeper contract, so as to register Ethereum meters in hive’s meter list. A then again procedure of burn and stake of followed. 

I hope that now you have understood the operation of Hive power and the usage of HVT tokens. For more details, you can visit its website and learn more.  


Website Link: https://www.hivepower.tech

ANN Threads Link : https://bitcointalk.org/index.php?topic=2097220.0

Whitepaper Link : https://v.fastcdn.co/u/a25ac79a/29853262-0-Hive-Power-WP-1.3.pdf

Telegram Link : https://t.me/hivepower

Facebook Link: https://www.facebook.com/HivePower

Twitter Link : https://twitter.com/hive_power


My Bitcointalk Profile Link :  https://bitcointalk.org/index.php?action=profile;u=1434888 

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