Where we are now —
The past few months at Hypernet have been incredibly exciting. The team was able to focus almost exclusively on meeting key technological development goals, as set forth in the roadmap white paper. We are now happy to announce that we have more than met our expectations, having produced functional first versions of the Hypernet blockchain scheduler, API, and marketplace lobby.
1. Blockchain Scheduler MVP; Status: COMPLETE
Completing the blockchain scheduler required the contract issuer, seller filter, and allocation testing. This was completed in the Spring, ahead of schedule.
2. Consensus API MVP; Status: COMPLETE
Completing the API required the P2P layer, Topology Layer, and Consensus Protocol. This was completed in early Summer, ahead of schedule.
Milestones 1 and 2 can be seen in action in our demo video, which can be viewed here: https://youtu.be/cLBH0kOz5hc?t=35
3. Compute Supplier Lobby MVP; Status: COMPLETE
This lobby is where machines are rewarded for making themselves available for use on the network. This was completed on-time, in late August.
While the opinion-based pendulum of crypto-hype and hate continues to swing, Hypernet persists in following our strategic plan towards the creation of a real product, for use by real people. Blockchain’s popularity and success were built on the promise of greater freedom from the concentration of wealth and power in traditional financial markets, but its reputation flounders on the speculative craze that arrived in its wake. Speculation is parasitic on the free market, the real purpose of which is to provide a framework for the production and distribution of goods and services that meet real human needs. The Hypernet blockchain scheduler serves an authentic, non-speculative purpose as the connective tissue between buyers and sellers of computing power.
If the scheduler brings together buyers and sellers in the marketplace, the Hypernet API is responsible for producing the goods. This is the revolutionary technological foundation that allows for distributed, truly parallel computing, and it now exists in the real world. As you can observe in our preliminary public demo, the scheduler generates smart contracts according to the specified needs of the buyers and then matches available sellers with current demand. The API facilitates the completion of parallel distributed computing tasks.
While other blockchain projects may claim to deliver distributed computing, they are hobbled by limitations resulting from their programming models. Crucially, they can only solve a restricted set of computing problems, and they are too rigid to tolerate the fluctuation of machines dropping in and out of the network. They, thus, rely on the old, familiar data-center set-up and can most accurately be described as make-shift work-arounds rather than evidence of a paradigm shift.
Instead of tinkering in the margins, the Hypernet team reconceived and built, from the ground up, an entirely new computing architecture — the Hypernet API, based on the principle of Distributed Average Consensus (DAC). Instead of covering over old server farms in the shiny veneer of blockchain, Hypernet engineers really grappled with the promise of consensus-based computing and brought it to its logical conclusion. The two key layers of Hypernet technology, the (on-chain) scheduler and the (off-chain) API, mirror each other. Both operationalize the contemporary ideal of networked power, generated via dynamic circulation and consensus, and untethered from the stationary and inflexible external referent of the data center.
Clearly, a major source of fuel for crypto-skepticism is the lack, thus far, of the perfect use-case. With only several hundred daily users, CryptoKitties is the top consumer application on Ethereum blockchain so far. Given this state of affairs, a healthy dose of skepticism seems warranted. At the same time, the history of technology and economic development is littered with examples of inventions that sat dormant for years before appropriate use-cases and complementary technologies were found. When electricity replaced steam as an industrial power source, it took thirty years before the reverberations could be felt in the form of productivity gains. This is because industrial architecture, centered around a steam-powered axle, was only gradually replaced by new configurations that could exploit the advantages of electric power.
Hypernet matches revolutionary technology with real user need by providing the technological architecture necessary to harness the innovation. It is the result of years of research, testing, and optimization. And with the on-schedule arrival of all planned deliverables over the past three months, it’s not just a thrilling idea; it’s concrete reality.