Introduction
HiveNet is a decentralized cloud computing platform funded through HiveNet Token sales. HiveNet switches to the Ethereum blockchain during the token sales but remains on its dedicated blockchain afterward. HiveNet initially uses the HiveNet Tokens but will later translate to its own HiveCoins. Most of the incentives and payment within the network are via these HiveCoins. The HiveCoin is very versatile and compatible with many wallets and other crypto-based systems. This token will soon become available on most digital currency exchanges. HiveCoin is the fundamental currency of HiveNet, secured on the blockchain. It ensures a global and fast payment system without transaction costs.
The HiveNet Tokens (HNT) would translate 1:1 to HiveCoins at the network’s mainnet launch. In other words, the amount of HNT that a user holds gets replaced with HiveCoins. The translation only happens after the snapshot of the HNT ownership is done. Details of the snapshot would be up on the website www.HiveNet.cloud beforehand.
Customers have the option of either paying with fiat currency or HiveCoins. When customers pay with fiat currency, most of the payment gets exchanged into HiveCoins. With these, HiveNet rewards Stakers and Providers. A tiny percentage of customer payments is for continuous costs like development, maintenance cost, etc. These exchanges between the fiat money and HiveCoin create market demand for HiveCoins. This demand increases its inherent value overtime.
HiveNet does not fund itself with exorbitant transaction costs or expensive cloud computing services. It uses token sales to fund its projects and expansion over the years. The token sales are also a means of decentralizing HVC ownership in the network. They occur in different phases and rounds. These token sales are totally law compliant (at least to German federal laws). More legal details about the token and its sales are available on the official website.
At the mainnet launch, 70% of all the HiveCoin goes into project funding. 5% of the HVC allocation would be for rewarding providers. This amount is used to settle providers before the first customer payment is made. 15% of the tokens are dedicated to HiveNet GmbH. This amount is to fund future operations, development, and maintenance. The HiveNet team gets 100 million HVC. The team does not take part in token sales, but they have this reserve. Team members can get tokens if they participate in Token sales like every other person. This reserve is meant to serve as incentives to team members. They will receive the tokens in small amounts over five years.
An essential partner in the HiveNet is the providers who offer the computing power of their idle computers. Providers can be from anywhere in the world as long as the computer is connected to the internet. Each of these providers gets incentives in the form of newly minted HiveCoins, which they can also exchange and cash out.
Conclusion
HiveNet network is a global platform that provides cloud computing services. The diversity of the parties and units involved mandates the adoption of a universal currency for payments. This is primarily what the HiveNet Tokens represent, which later becomes HiveCoin. HiveCoin is the means of payment in HiveNet.
USEFUL LINKS
Website: https://www.hivenet.cloud/
Telegram: https://t.me/hivenet
Facebook: https://fb.me/HiveNetCloud
Twitter: https://twitter.com/HiveNetCloud
AUTHOR'S DETAILS
Bitcointalk Username: Blesko
Bitcointalk Profile Link: https://bitcointalk.org/index.php?action=profile;u=2642410