HIVE Power platform is working on reducing the existing problems of the power sector and offering economic benefit to the members of energy communities. It is a decentralized platform that runs on blockchain technology. This technology has paved the way for many sectors and its beneficiaries by offering solutions for their problem and huge benefits of the blockchain. HIVE power is not offering solutions but also focuses on reducing the bills and energy expenses of their communities. How this platform is beneficial and what are the problems of power sector? It is essential to know about them so let’s learn about them in brief.
The common problem of the power sector
The power sector is changing with the introduction of a new actor that is prosumer due to whom energy fluctuations are caused in the electricity generation grid. The non-efficiency of a centralized structure is further enhancing this problem. The main cause of a problem is the uncertainty of energy production by prosumer who uses the distributed energy resources to feed the distribution network. The other factor which fuels the problem is the huge energy consumption by electric vehicles and heat pumps. Due to these reasons, power quality problems arise which is causing difficulty for the distribution system operators.
What can be done?
This problem can be solved by investing in the grid infrastructure but a problem still continues to exist as revenue generation of the centralized organizations is declining. This decline is due to the autonomous prosumer. On the other hand, prosumer is still depended on them for high or peak electricity use. The end consumers also have to pay huge money for their electricity needs. To solve this problem, there should be a decentralized platform where all entities can exchange energy and generate revenue. Moreover, this can reduce the cost of electricity that an end user has to pay.
About HIVE power
HIVE power is one such platform that is bringing prosumers, electric utilities and consumers at one single place. The platform aims to achieve multiple energy objectives by the collaboration of participants who share their energy production with each other. HIVE Power works on market mechanism to achieve its aim. Unlike other market schemes for energy exchange, HIVE power also deals with technical aspects such as power rating, cables, and voltage limits. This platform is beneficial for everyone because it is specifically designed to cater the energy production and consumption needs.
Electric grid organizations can operate safely and consumers can enjoy the cheap and affordable energy from this platform.
The concept of HIVE power platform
Similar to Hive, there is also a queen and people who work under it. Hive is basically an energy community consists of queen, workers and their users.
• Queen is the coordinator who rules and coordinates workers of its hives.
• These workers have smart meters that use blockchain technology.
• The users, on the other hand, use their services and interact with the local energy market by means of an application.
• To set up and manage a hive there is an administrator who uses an admin app to access the Beekeeper that is a smart contract.
• To utilize the facilities and services of this ecosystem, community members should have HIVE token or HVT.
About HIVE applications
The users of HIVE platform can use two applications- admin app and user app. Hive administrator uses the admin app to manage their hives. Its features include
• Beekeeper interface- services such as an addition of new meter or worker or creation of a new meter and more are managed through this feature.
• Hive supervision- the administrator supervises its workers and their statuses such as the production of energy by them, their performance, statistics of energy consumption and more.
• Withdrawal and fiat status- this feature allows an administrator to withdraw or deposit the stable tokens into the account and monitor its status. Using this administrator can also exchange the tokens into fiat currency.
The user application is designed for the user to interact with a hive. The daily operations of a user are taken care by the install and forget feature. The features of user app include cost savings, energy stats, and credit fill-in.
The app allows users to compare the cost of energy and pick the hives with affordable services. Moreover, using the last feature their credit card will get automatically gets filled.
Official links for more details,

Website: https://www.hivepower.tech/
Telegram: https://t.me/hivepower
Facebook: https://www.facebook.com/HivePower
Twitter: https://twitter.com/hive_power
WhitePaper : https://v.fastcdn.co/u/a25ac79a/29853262-0-Hive-Power-WP-1.3.pdf

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