Hypernet ICO Overview
The Hypernet ICO and HYPR token sale are raising funds for a decentralized, distributed parallel computing network. Hypernet harnesses the idle computing resources of network participants to meet demand for processing power through a novel programming model and marketplace.
The core infrastructure includes a blockchain-based task scheduler and Distributed Average Consensus (DAC) API suite, designed to break the constraints posed by device availability and bandwidth fluctuation that limit the potential of other approaches to distributed computing.
Hypernet ICO Value Proposition
Most distributed computing systems require raw data to be aggregated by a centralized authority at some stage while executing a task. Hypernet incorporates two elements of consensus that dispel the need for any centralized mechanism to process distributed data. A DAC-based decentralized computing engine facilitates execution of parallel computing tasks.
DAC provides a processing model for parallel computing among peers without any centralized task coordinator, allowing devices to seamlessly enter and exit the network while computation is underway.Instead of aggregated data flowing back to a single node, the entire network of peers reaches consensus on a final answer.
For organizing compute tasks, a blockchain-based consensus mechanism is employed to manage resources on the network, connecting buyers and sellers of compute power.
Hypernet is comprised of three fundamental components: a blockchain-based resource scheduling protocol, a containerized execution environment, and a DAC API.
- Blockchain Resource Scheduler: The blockchain scheduler manages the marketplace of buyers and sellers. The scheduler matches buyers and sellers through a smart contract platform with rewards issued in Hypertoken. Prices for compute time on seller hardware are determined by both the market and factors such as individual device hardware specifications.
- Distributed Average Consensus Computing API: Hypernet plans to develop an API library for leveraging DAC, based on coding languages like Python and C++, tailored toward scientific computation and machine learning scenarios. The underlying consensus infrastructure is partitioned into three layers: a p2p networking layer establishes the tcp/ip connection with a participating compute node. A topology layer manages the participation of neighboring peers conducting the task. The final layer utilizes an average consensus feedback protocol above the topology layer to achieve distributed average consensus.
- Hypernet Executable Environment: For security and compatibility within a system composed of diverse hardware, Hypernet offers a containerized environment. Computing tasks can be run and tested in an environment isolated from participants offering compute resources. This environment will also include libraries of trusted tasks that can be run on Hypernet. The runtime environment provides a DAC-based progress querying function so buyers can monitor job progress that also gives sellers control over the amount of resources each device devotes to the network.
The Hypertoken (HYPR) serves as the unit of transaction between buyers and sellers for computing resources. Hypertokens are also used for staking as part of a reputation-based system. To discourage malicious behavior, buyers and sellers must use Hypertokens to post collateral when executing a contract.
The amount of collateral is determined by the buyer when a task is submitted to the network. As compute providers reach checkpoints throughout the compute process, collateral is returned in increments. Hypertokens also play a role in governance of the network. Network participants with more Hypertokens hold more voting power should a proposition arise to change the network.
Hypernet ICO Team
Ivan Ravlich (Founder and CEO) founded Hypernet after a brief stint as a Plasma Physics and Rocket Science Researcher. From 2013 – 2017, Ivan pursued a PhD in Aerospace Engineering at Stanford University before taking a period of leave. He holds a Master’s degree in Aeronautics and Astronautics from Stanford.
Todd Chapman (Founder and CTO) has over a decade of academic experience in the field of Aerospace Engineering, in which he holds a PhD from Stanford. For the past six years, Todd has worked as a Graduate Research Assistant for Farhat Research Group, developing advanced computational algorithms and high-performance software for the aerospace industry.
Daniel Maren (Co-Founder) founded Dfly Systems in 2013, which was acquired by Sunpower a year and a half later. Daniel continued on with Sunpower as a Manager and Advisor for nearly four years before co-founding Hypernet. He is graduate of Stanford University with a major in Computer Science.
On the advisory end, Hypernet has enlisted the support of District0x Co-founder Joe Urgo. Joe previously spent three years as Operations Manager at Coinbase and has a background in the financial sector.
More information on the 12 member team and 4 advisors is available here.
Hypernet ICO Strengths and Opportunities
The Hypernet ICO offers one of the first decentralized parallel computing networks, in contrast to projects that rely on grid computing, leaving them highly vulnerable to the issue of computers entering and exiting the network at random.
Distributed networks based on grid computing do not tolerate contributors dropping off the network when executing a task that requires communication between devices. Interruptions in the flow of data packets present a barrier to the types of tasks a distributed computing network can effectively carry out.
Networks based on grid computing such as Golem, SONM and iExec, require a consistent network topology of contributors to efficiently execute tasks. In such systems, mitigating the issue of unreliable nodes invariably contributes to an increase in network overhead and subsequent decrease in speed.
On Hypernet, DAC plays a crucial role beneath the blockchain to manage interprocess communication between disparate devices as tasks are performed with participants dropping on and off the network.While networks like Golem focus on specific tasks like rendering and iExec on decentralized cloud resources, Hypernet targets a wider array of use case scenarios enabled through the implementation DAC, such as high-performance computing and data analytics.
Hypernet ICO Weaknesses and Threats
Aside from the high number of competitors in the space, distributed computing projects have a mixed track record of performance. While frontrunner Golem has fared well over the long term with a current ROI of 15x the ICO price, SONM remains only slightly above water at .32x and iExec at 1.82x.
The strong technical background of the team and their novel approach to parallel computing on a decentralized network certainly help the Hypernet ICO stand out among the lot of distributed computing projects. Still, when it comes to the business realm, the founding team members have little hands-on experience growing a user base and scaling a product.
To grow a future customer base, partnerships will play a critical role for increasing both supply and demand of compute resources. As the value of any utility token ultimately depends on real demand for services offered through the network, a pilot-project to kick off ecosystem growth is essential. While the team has made clear their intention to develop partnerships with a range of potential users, no official announcements have been made yet.
The Verdict on the Hypernet ICO
The Hypernet ICO offers a novel technical approach to solve a major bottleneck facing blockchain-based distributed computing. While the project fundamentals appear promising on the tech front, the plan to onboard a strong target market customer base remains unclear at this early stage. Regardless, the Hypernet ICO shows potential as a breakthrough project in the distributed computing space.
We have been in discussions with the Hypernet ICO team and our ratings are based on conversations and information that they have asked us to keep confidential. Please note that our review does take into consideration the token data that has been shared with us, but we have been specifically requested not to share the token metrics that we have seen at this point. We will share them as soon as they are made available by the team.
As a Top 10% rated ICO, we will look to make a small bet on the Hypernet ICO.
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