HyperionX creates smart products to connect the world. Leveraging blockchain technology, HyperionX introduces a decentralized, trust-less ecosystem featuring a number of automated tools that enable an interactive, gamified experience for Peers, the users of the platform.
The HyperionX ecosystem includes Peerion, a decentralized platform that supports a smart market solution.
The Peerion platform: Overview
The Peerion platform leverages blockchain technology to create a trustless free marketplace powered by smart contracts, which Peerion uses to manage Peer-to-Peer (P2P) transactions.
Peerion uses Proof-of-Passion (PoP), a custom consensus algorithm that will create and distribute peer rewards based on uptime and reputation parameters, rather than wealth or advanced hardware as seen on Proof-of-Stake (PoS) or Proof-of-Work (PoW) environments, respectively.
PoP provides a clear advantage over other consensus methods because it enables the entire ecosystem to remain finely balanced and retain fairness for Peers.
The Peerion experience: How the smart market platform works
Peerion's ultimate goal is the automation of all daily tasks for Peers.
Peers will enter data and generate transactions through the Peerion marketplace, which is closely integrated with Kabba, HyperionX's Artificial Neural Network (ANN). Kabba verifies the Peer as a legitimate user, and secures and transmits data to be processed on the nodes, which provide the second level for verification.
Kabba will specifically assist Peers in connecting with each other in the relevant markets through introspection tools.
Peers will enjoy a gamified, interactive experience within Peerion. Once the Peer has signed up and linked their wallet, Kabba will issue a Nimbus, to which the Peer will need to link the local storage device. At this point, Kabba will congratulate the Peer for becoming a Seedling and ask to choose a totem, which is a means to remain anonymous.
By remaining anonymous, the Peer can learn how to navigate the Smart Market ecosystem either as a buyer, seller, teacher, artist, or developer.
If the Peer chooses to go public instead, Kabba will describe the benefits of doing so. Public Peers can bring their own community or store from other platforms on their Peerion page, for example, and also obtain a stronger reputation and look more professional. This enables the Public Peer to accept jobs from nonprofit leaders, etc.
Smart market components and tools
The Peerion smart marketplace includes a number of autonomous tools designed to automate daily tasks for Peers, such as the Peerion Ambition Loop (PAL), essentially a job matching tool, and a Liquidation Tool, which enables a Peer to purge old products, services, and resources.
Peerion Ambition Loop (PAL)
Peerion introduces the concept of ambition to quantify demand, using the Peerion Ambition Loop (PAL) tool.
PAL will connect service providers with workers, offering jobs and allowing managers to hire qualified and responsible individuals. The rationale for PAL is to facilitate and simplify the connection between people and jobs, and organizations with qualified workers. PAL will calculate what types of jobs are in what areas, and the demand for the job will determine the workers's ambition level.
An example of PAL:
Bob owns a construction company and needs 5 people for a week's work in New York City. Using PAL, Bob can find qualified workers in the area. Bob will submit a request on Peerion, and based on the number of workers who are currently looking for work, the current local demand, the type of work, and the wages earned, Bob will have a full staff by the following day.
If the demand for work in the area is high, the worker's ambition would be low, and there would be a surplus of workers. This would mean that workers would not have to travel long distances for qualified work.
On the other hand, if the local demand for work is low, less workers will be needed in that specific region, and workers would have to travel longer distances to find more appealing jobs.
When using PAL, service providers will not have to contact workers directly. Providers post a job, and the next day ambitious workers will show up at the site. Everyone will be rated by Peerion’s blockchain identity rating system, which promotes honesty and professionality to uphold their name and rating.
A service provider's ambition level can be calculated in two ways: Manually or autonomously.
Ambition levels are determined by current market conditions. If demand is high, ambition could be lower, whereas if demand is low, ambition must be higher, which means that a peer must be willing to take harder, longer, further jobs to ‘survive’. Jobs include anything from construction workers to graphic designers, teachers, doctors, and so on.
Kabba's introspection tools help the Peer to discover their current market conditions, forecast and trends to know if they must take a less desirable job or not. Smart contracts can be used to automate agreements between the client and service provider.
Over time, a Peer may accumulate products and services which are outdated or simply no longer needed or wanted. The Peerion platform offers a way to purge products, services, and resources through a Liquidation Tool.
This tool is essentially an autonomous auction system integrated with Kabba, which calculates current market conditions, trends, and forecasts. This creates a competitive environment to stimulate demand. Kabba will liquidate products, services, and resources at the highest possible price, though the Peer can set absolute minimums.
The HyperionX ecosystem offers a smart solution for a smart world, combining a number of tools and platforms that offer an enjoyable, interactive, and gamified user experience.
Peerion is an integral component that acts as the fulcrum for the whole environment, offering peers a trustless, free marketplace powered by smart contracts that enable easy P2P transactions.