14-May. There are rumors that cap is adequate, sale in August. It is a competitor to SONM and other supercomputers.

● Hypernet: Protocol for parallel computing over a decentralized, dynamic, distributed network utilising idle computational power. 
● You might have heard it all before, but Hypernet has a team with lots of blockchain experience, a mainnet coming out already in August and cap of only $15M (take a look at recent GNT or SONM cap for example). 
● Presale token lock is uncommonly long which should help the token post listing price. 
● No ERC20 placeholder will be used, and only native tokens will be released so hopefully the team has exchange listing plans.

Hypernet’s team is a group of recently graduated PhD students from Stanford. As far as technology talent, this team is loaded, however we do have to keep in mind that the technology may or may not work. Personally, we believe this project is generating a ton of hype just based on the team assembled. With more information released each week as the project approaches the end of the token sale, more information should be made available about the business aspect of the project and marketing efforts should subsequently follow.
Hypernet and Golem are taking different approaches, as they should, and currently it is unclear which or whether any will prevail. With Hypernet’s stated hard cap of $15 million it is possible that Hypernet will reward early investors very well in the not so far future. The unanswered question is whether Hypernet’s computing will be faster, cheaper, and more secure than centralized computing. We believe this is a great investment aspect considering the technology, team, hype, and the niche it is competing in.

Use Case: High performance computing protocol
Remarks: No public sales

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.

Main competitors of Hypernet (Golem, Sonm, and iExec) currently focused on solving very specific issues. Golem is currently heavily focused on rendering. Sonm is primarily adapting existing hub and spoke architectures, with an emphasis on server hosting, to distributed networks. iExec is focused on decentralized cloud computing, for specific use in certain research applications. Hypernet is going to develop more widely used solution.

Both the on-chain (scheduled) and off-chain (DAC) technology layers of Hypernet fit together hand in glove, and are both driven by consensus. In contrast, Golem, Sonm, and iExec have built their technical foundations on traditional computing architectures. DAC has not been explained properly in white paper.

Hypernet tokens would not be just currency within the platform. It performs four interconnected and critical functions that enable a marketplace for decentralized computational power over dispersed, dynamic networks: 1. Collateral — Buyers and sellers of computational power will use tokens as a form of collateral for launching and fulfilling compute jobs. This will ensure fairness for all parties and limit misuse of Hypernet by bad actors 2. Network Allocation — Hypertokens will be used to allocate and measure capacity for submitting and running compute jobs. 3. Reputation — Hypertokens will allow ecosystem actors to build a verifiable reputation and increase their standing in requesting and fulfilling compute jobs. 4. Priority — The prioritization of jobs will be moderated within Hypernet via the previous three factors of reputation, network allocation, and collateral. As a result, we believe, that HyperTokens creates additional value on the platform. Also, it is clear that the value of tokens would rise with the growth of platform usage.

Financial details of the project has not been announced yet. However, we could track the competitors and make some estimations, based on market size. Projects in same field, which already came to exchanges: Golem (Mrk Cap – $523 mln), iExec RLC (Mrk Cap – $132 mln), SONM (Mrk Cap – $75 mln), GridCoin (Mrk Cap – $16 mln). As was mentioned before, even 1% on cloud computing market means nearly $800 mln revenue. Tokens would be extremely important part of whole ecosystem. There would be 100 mln tokens issued. As a result, each token would constitute $8 of revenue. If we assume, that each token would circulate 10 times a year, the minimum price for 1 token would be $0,8, as a result, it would mean total capitalization of the company equal to $80 mln.

Strength and Opportunities:
The cloud computation market is growing at a massive scale and expected to be worth more than 400 billion USD by 2020. Hypernet distinguishes itself from other distributed computing projects by applying general parallel computing which according to them can solve a broader range of problems than grid computing, the system used by their competitors.
Weaknesses and Threats:
Delivering distributed computational power via the blockchain is a highly competitive market segment. Several projects are already active in this field, such as Golem, Somn, GirdCoin, iExec and Sparc. Golem has already a market capitalization of more than 275 million USD as of June 2018. Cultivating their niche and differentiating themselves substantially from the other market players may not be easy. The fact that no credible strategic investors have been announced so far raises doubts how well Hypernet’s ICO will perform.
Verdict:
If the technology of the Hypernet platform and in particular parallel computing is more efficient compared to the technology used by the Hypernet competitors there is no reason why the Hypernet competitors should not implement the same technology. Other platforms in this field may have a first mover advantage since they were already active significantly before Hypernet. We can assume that just as for every marketplace economics of scale will be one of the decisive factors for determining the winner in this market niche. Uber and AirBnB have shown that once a dominant player successfully penetrated a niche, it becomes very hard for competitors to catch up. Therefore the long term success of the project will depend on how quickly the team can execute and implement their idea compared to competitive projects. The timeline of Hypernet is ambitious and in Q3 2018 we will be able to see if important technical milestones were met. Hypernet counts with an engaged community but lacks big strategic investors. It remains to be seen if the community can compensate for this during the ICO.