Hypernet ICO Review | Distributed Computational Power Ecosystem

Name: Hypernet ICO Review
Item: Hypernet ICO Review | Distributed Computational Power Ecosystem
Rating: 7.9
Author: Coindrift Team

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Coindrift Team

May 31, 2018

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Key Information

Total Supply: 100,000,000
Available in Sale: TBA
Hard Cap: TBA
Market Cap: TBA
Token Type: ERC-20
Ticker: TBA
Pre-Sale: TBA
Whitelist: TBA
Public Sale Live: TBA
Weekly Bonuses: TBA
Volume Bonuses: TBA
Token Distribution Date: TBA
Website: https://hypernetwork.io/

7.9 Total Score

Hypernet ICO Review

Due to the exponential growth of internet enabled devices, it is estimated that by 2020 15 billion terabytes of data will be generated per year. However, currently there is no effective solution for processing and analyzing this data to make use of it. Hypernet are aiming to solve this problem by building a decentralized computational power marketplace to enable billions of devices around the world to utilize idle processing power. The ecosystem matches buyers - anyone with a need for computing e.g. researchers, with sellers - anyone who owns a device with excess processing power e.g. laptops, PCs, tablets, with Hypertokens facilitating the payment.

Market Size

9.5

Team

7.5

Token Utility

Product Development

Social Signals

PROS

In a centralized data center, as much as 85% of the price of computing can be attributed to infrastructure, hardware, maintenance, personnel, and cooling. Hypernet eliminates much of these costs, resulting in greatly reduced prices for computing. This should help aid adoption of the network.
Other projects in the same niche have been well received, with market caps ranging from ~$70m (Sohm) to ~$530m (Golem) at the time of writing.
Tokens have high utility and are an essential component in the ecosystem. Primarily they are used to facilitate the exchange of computing power between buyers and sellers. Additionally, when buyers/sellers launch or complete compute jobs they must put Hypertokens forward as collateral. When sellers reach checkpoints, they receive their collateral back, which disincentivizes bad actors. Tokens are also used for voting on protocol changes and reputation. If Hypernet achieves widespread adoption, high demand for tokens should cause appreciation in value.
Hypernet allows for more private and secure computing than a centralized data center due to the distributed nature, which makes costly data breaches less of a concern. This is another major selling point for Hypernet over current centralized alternatives.
Strong team with several members holding PHDs from Stanford. CoFounder Daniel Maren founded Solar Electronics Company Dragonfly Systems and received a Forbes 30 under 30 award, others have founded successful start-ups and worked for a diverse set of organisations including NASA, Nvidia, Facebook and Twitter.

CONS

Whilst it is good that similar projects have been well received, it also means the niche is highly competitive with some very credible teams working on similar technology. That said, what sets Hypernet apart is their innovative programming model called Distributed Average Consensus (DAC). This entirely new architecture enables true parallel computing rather than grid computing, allowing the system to efficiently distribute compute jobs even though computers are regularly dropping in an out of the network. What this essentially means is that Hypernet is not limited to specific use cases, such as rendering, server hosting and cloud computing, but serves as a distributed supercomputer for complex and diverse computing needs. Provided the team deliver, its hard to see how Hypernet will not become the dominant network.
Whilst the team are certainly very accomplished in a variety of fields, it is a slight concern that none of them have experience developing blockchain related projects.
The Scheduler and Consensus API MVPs are due for release in July - August and the Runtime Environment in December 2018 (see roadmap below). However, there is currently no product to assess and without a GitHub either the project loses points in the current development area. We will be sure to update our review when releases occur.
The Hypernet sub Reddit currently only has 500 members. As Reddit has a huge cryptocurrency community, it would be good for the team to work on this. Although, this is only a minor concern given the Telegram already has over 10,000 members!

User Rating: 4 (1 votes)