Blockmate investee Hivello partners with U2U Network to distribute nodes within ecosystem
Rhea-AI Summary
Blockmate Ventures announces its investee Hivello Holdings has partnered with U2U Network to explore the distribution of U2U nodes within the Hivello ecosystem. U2U's architecture supports over 17,000 transactions per second per sharding, with testing showing 500,000 TPS network-wide and 650 milliseconds finality time.
The partnership aims to leverage Hivello's DePIN (Decentralized Physical Infrastructure Network) capabilities to strengthen U2U network's supply while increasing passive earning opportunities for Hivello users through their idle computing power. U2U Network's advanced node network is designed to power IoT, telecommunications, and AI applications, utilizing Directed Acyclic Graph technology with Helios Consensus.
Positive
- Strategic partnership expands Hivello's network capabilities and user earning potential
- U2U Network brings high-performance infrastructure with 500,000 TPS capability
- Integration opens new revenue streams in growing IoT and AI markets
Negative
- None.
News Market Reaction
On the day this news was published, MATEF declined 7.34%, reflecting a notable negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
TORONTO, Dec. 10, 2024 (GLOBE NEWSWIRE) -- Blockmate Ventures Inc (TSX.V: MATE) (OTCQB: MATEF) (FSE: 8MH1) (“Blockmate” or the “Company”) is pleased to announce that its investee, Hivello Holdings Ltd has partnered with U2U Network to explore the distribution of U2U nodes within the Hivello ecosystem.
U2U’s architecture supports more than 17,000 transactions per second (TPS) per sharding, with testing demonstrating 500,000 TPS across the network and a finality time of just 650 milliseconds. The network already powers a range of applications in the Internet-of-Things and Artificial Intelligence spaces, industries that are increasing their demand for computing power.
By integrating with U2U, the strategic partnership aims to leverage the Hivello network’s DePIN (Decentralized Physical Infrastructure Network) capabilities to bolster the U2U network’s supply while increasing the passive earning capacity of Hivello users who can offer their idle computing power to the ecosystem through the Hivello app.
Justin Rosenberg, CEO of Blockmate Ventures, commented, "The Hivello team continues to expand their partner network through opportunities like this partnership with U2U Network that highlights the global demand for DePIN as more users capitalise on the simplicity of the Hivello app that connects users with buyers of their computing power.
“With Blockmate being the major shareholder of Hivello Holdings, it is pleasing to see more value being added to the Hivello ecosystem as strategic partnerships like these create more passive income opportunities for Hivello app users.”
Below is the press release from Hivello:
Hivello teams up with U2U Network: a new era for DePIN accessibility
London & Amsterdam, December 9th, 2024 – Hivello, a platform dedicated to aggregating DePIN (Decentralized Physical Infrastructure Networks) projects, and U2U Network, a purpose-built layer-1 blockchain tailored for the demands of DePIN, are announcing a strategic partnership. This collaboration aims to explore the distribution of U2U nodes within the Hivello ecosystem.
Hivello provides users with a seamless way to earn passive income using their idle desktop devices. Their platform aggregates the top-performing DePIN networks into a simple, user-friendly desktop app that requires no technical expertise.
U2U Network features an innovative design that integrates Directed Acyclic Graph (DAG) technology with the Helios Consensus. This architecture supports 17,000 transactions per second (TPS) per sharding, with testing demonstrating an impressive 500,000 TPS across the network and a finality time of just 650 milliseconds. Its modular subnet framework further empowers enterprises to build tailored decentralized applications while maintaining robust security and scalability.
U2U’s advanced node network is designed to power IoT, telecommunications, and AI applications, addressing the needs of these rapidly evolving industries. As the DePIN market experiences exponential growth, U2U is strategically positioned to become a leading force in shaping decentralized infrastructure. Hivello complements this vision by bolstering the U2U network's supply side, delivering high-quality nodes that prioritize security, stability, and decentralization.
“Through our partnership with Hivello, we’re making decentralized infrastructure more accessible while setting new standards in scalability and security. Together, we’re empowering individuals to effortlessly contribute to the growth of IoT, AI, and telecommunications industries,” said Ms. Chloe Phung, Co-Founder & Co-CEO of U2U Network.
“We’re excited to partner with U2U Network and explore how our combined efforts can make DePIN more accessible. This collaboration is a step forward in our shared goal of bringing decentralized infrastructure and the benefits it holds, to a broader audience and empowering users worldwide,” said Domenic Carosa, Co-founder and Chairman of Hivello.
About Blockmate Ventures Inc.
Blockmate Ventures is a venture creator focussing on building fast growing technology businesses relating to cutting edge sectors such as blockchain, climate and energy storage. Working with prospective founders, projects in incubation can benefit from the Blockmate ecosystem that offers tech, services, integrations and advice to accelerate the incubation of projects towards monetization. Recent projects include Hivello (download the free passive income app at www.hivello.com) and Sunified, digitising solar energy.
The leadership team at Blockmate Ventures have successfully founded successful tech companies from the Dotcom era through to the social media era. Learn more about being a Blockmate at: www.blockmate.com.
Blockmate welcomes investors to join the Company’s mailing list for the latest updates and industry research by subscribing at https://www.blockmate.com/subscribe.
About Hivello
Hivello is an aggregator of DePIN projects that allows any user to participate in a variety of DePIN networks with just a few clicks. This eliminates the technical hurdles that many users face when trying to join these networks, and allows users to generate an extra source of income by mobilizing their idle computers. We aim to create a simple app that allows users to contribute their computer resources with no technical knowledge required. It's as easy as downloading, installing, and running nodes, making complex technologies accessible and beneficial to all.
For more information about Hivello and to stay updated on its developments, visit www.hivello.com
About U2U Network
U2U network is a Modular Layer 1 with perfect fit infrastructure for DePIN and Blockchain real-world application builders. U2U combines the Directed Acyclic Graph (DAG) structure with the Helios consensus mechanism to achieve high throughput, low latency, and energy efficiency.
ON BEHALF OF THE BOARD OF DIRECTORS
Justin Rosenberg, CEO
Blockmate Ventures Inc
justin@blockmate.com
(+1-888-218-6863)
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release
Forward-Looking Information
This news release contains "forward-looking statements" or "forward-looking information" (collectively, "forward-looking statements") within the meaning of applicable securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on the assumptions, expectations, estimates and projections as of the date of this news release. Forward-looking statements are subject to a variety of known and unknown risks, uncertainties and other factors that could cause actual events or results to differ from those expressed or implied by forward-looking statements contained herein. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Blockmate disclaims any obligation to update any forward-looking statements, whether because of new information, future events or otherwise, except as may be required by applicable securities laws. Readers should not place undue reliance on forward-looking statements.
FAQ
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