Hurify is an Ethereum-based decentralized platform for IoT solution development that bridges the gap between IoT demand and supply.
Sound confusing? Let’s break down what that means.
What Is IoT?
IoT stands for Internet of Things. There are many devices connected to the internet these days—phones, computers, vehicles, home appliances, watches—the list is endless. The IoT is the giant network of all these “things” (including people). Since they’re all connected to the internet, all of these objects and devices are able to connect and communicate with one another.
For example, on a personal scale, your alarm clock could wake you and then notify your coffee machine to start brewing, or the printer at work could notice it is low on ink and automatically order more from Amazon. On a broader scale, the IoT can be applied to entire cities, resulting in “smart cities”, in order to monitor and manage traffic and transportation systems, water supply networks, waste management, law enforcement, hospitals, and other community services. This is done by collecting data from all citizens, devices, and assets that are a part of the IoT network to optimize the efficiency of city operations and infrastructure.
Image courtesy of TechTarget
IoT is growing exponentially. According to Business Insider:
There will be 34 billion devices connected to the internet by 2020, up from 10 billion in 2015. IoT devices will account for 24 billion, while traditional computing devices (e.g. smartphones, tablets, smartwatches, etc.) will comprise 10 billion. Nearly $6 trillion will be spent on IoT solutions over the next five years.
Where Hurify Comes In
The growth of IoT is only going to accelerate as time goes on. However, companies currently lack a cost-effective method of turning IoT ideas into value-added applications. At the same time, there is a skills shortage in the IoT industry, where finding and connecting talented developers is a big challenge for businesses. To bring an IoT concept to fruition requires a thorough understanding of many disciplines, including technology, integration, data management, analytics, and app development. And finding the right team of developers to collaborate on a project is getting more and more difficult.
Not to worry! Hurify has created a solution to these problems. They’ve created a platform driven by smart contracts that provides an IoT-specific blockchain marketplace for businesses and workers. Hurify facilitates peer-to-peer connections between clients wanting to create IoT products and skilled developers who can build their products. Developers can create profiles for free where they list their services and qualifications, and IoT clients can browse through for a developer that fits their project idea.
Payment for services is completed directly on Hurify’s platform using their own ERC20 token called HUR. Once a client chooses a developer, all transitionary funds are locked in a secure multi-signature escrow on the blockchain. After completion of service, the HUR tokens are released to the developer and certificates are issued to both parties, verifying payment and project completion.
Advantages of Hurify Marketplace for IoT Development
- Cryptocurrency payments for international partnerships
- Decentralized Ethereum-based platform driven by smart contracts
- Quick concept-to-prototype transition
- Lower IoT development cost with no additional charges or fees
- Multi-signature escrow between the client and developer
- Ability for client to find the right talent for the IoT development work
- Immediate payment for completed development projects
- Gives clients the opportunity to specify their own terms and conditions
- Personal information does not have to be shared
- Payments are made directly between the buyer and seller
- Builds reputation and client base for the best of IoT developer talent
This infographic effectively illustrates how Hurify’s marketplace will work:
In addition to the marketplace, there will also be an online forum and blog platform to allow IoT-related discussions. Developers active in the Hurify community can add credibility to their skills by answering questions in the forum and by adding insightful blog posts. Each time a developer adds a blog post or receives a recommendation for their forum answers, they will gain points. Each time they reach a certain number of points, they will be rewarded with HUR tokens.
Hurify ICO: Everything You Need to Know
Hurify’s ICO is running from February 1, 2018 to February 28, 2018.
5,500 HUR tokens cost 1 ETH. There will be nearly 273,125,000 HUR in circulation following the token sale.
Participants in the crowdsale will receive discounts based on when they purchase HUR tokens in the following manner:
- Feb. 1 to 7: 20% discount (6,600 HUR per ETH)
- Feb. 8 to 14: 15% discount (6,325 HUR per ETH)
- Feb. 15 to 21: 10% discount (6,050 HUR per ETH)
- Feb. 22 to 28: 5% discount (5,775 HUR per ETH)
These pie charts depict how Hurify plans on allocating the HUR tokens and how they will distribute funds:
To participate in the Hurify ICO, visit their ICO website and register. You will need at least 0.5 ETH to participate in the crowdsale. Once you have created an account, you may login and send your ETH to Hurify’s crowdsale token contract according to the instructions they will provide to you.
Support the Future of IoT Development
If you’re an IoT developer or just a fan of helping the world become more connected and efficient, participating in Hurify’s crowdsale could be an interesting venture. The market for IoT is predicted to exceed $470 billion by 2020, and it’s sure to be an interesting space to being involved with in the coming years.
It is still important, of course, to do your own homework and decide if buying HUR tokens is right for you. Be sure to thoroughly read the Hurify whitepaper, check out their blog, and join the Telegram community to ask questions and get involved. Happy investing!