Blockchain technology is still in its infancy, but it’s fascinating to see the innovation that’s happening around it right now. Hypernet is one of those examples, automatically extending computing power to any available device on the web. You think about the hundreds of millions of CPUs that sit idle for hours at a time – still utilizing some power, still requiring upkeep, but basically wasting money.
What is a Decentralized Autonomous Corporation (DAC)?
A decentralized autonomous corporation (DAC), is an organization that is run through rules encoded as computer programs called smart contracts.
Hypernet’s primary innovation is not their on-chain component; it is the off-chain DAC programming model. This model makes it possible to run parallel computations on a dynamic and distributed network of devices, all in an anonymous and privacy-preserving manner. Hypernet brings devices together and uses them to solve real-world problems.
Hypernet organizes devices and jobs on the network via the blockchain scheduler. It automatically matches a buyer’s needs with the proper providers, ensures that jobs are completed as efficiently as possible, and helps maintain security and reliability. The DAC utilizes a token system to ensure the resources are there as needed for its clients, including:
- Staking – Buyers and sellers must stake collateral to complete compute jobs. HyperTokens are that collateral. A seller stakes collateral on their devices while buyers place their payment into the smart contract up front. In a network with unknown actors, the collateral brings peace of mind to both buyers and sellers of compute.
- Reputation – A user’s reputation increases by being a reliable and responsible compute provider and compute purchaser, and this reputation is permanently logged on the blockchain. A user’s reputation increases the likelihood of participating in compute jobs.
- Currency – HyperTokens are the transactional currency which enables the buying and selling of compute on the network.
- Availability Mining – Individuals can mine HyperTokens while waiting for compute jobs, by just being available in the lobby. This incentivizes users to join the network and make their devices available. While in the lobby, users can challenge other idle devices to see if they are truly online. If they fail a challenge their collateral is collected by the challenger. The amount of tokens available for mining decreases over time, so signing up devices early earns the most tokens.
- Decentralized Governance / Voting – Nodes participate in challenge and response and are incentivized for helping maintain the quality of the network, and weeding out bad actors. Each node pings other nodes in a challenge/response mechanism to determine if they truly are on when they say they are on. Major changes in the network may be voted on, with your vote weighted by the amount of HyperTokens you hold.
Hypernet has essentially created the world’s largest supercomputer through utilizing the computational power of latent devices. In layman’s terms, that means whenever gadgets like laptops, smartphones and tablets aren’t in use, Hypernet can harness that power, so websites don’t crash due to server overload. What’s more, since this power is distributed and decentralized, there’s far less a chance that any sensitive, personal data collected during eCommerce transactions can become compromised.