A Brief Look into Hivemapper Project

The world’s first crypto-enabled dashcam that mines HONEY and grows the map while you drive. It’s a new way to mine crypto and represents a fundamental shift in how maps are built. You can read more or order the device while the discount lasts here - https://hivemapper.com/

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HONEY is the cryptocurrency of the Hivemapper blockchain built on top of Solana, which rewards contributions to the mapping network. Mined HONEY tokens will be available in a Hivemapper Web3 wallet. From there, the user is free to transfer their tokens on the Solana blockchain wherever they please; inclusive of other wallets and exchanges. There is a fixed supply of 10 billion HONEY tokens minted on a set schedule described in the Token Economics section.

The fundamental components of the ecosystem are map coverage, QA, and annotations. This is where the bulk of the token rewards will be distributed. The Hivemapper Network Foundation will use the reward structure described below to determine the number of tokens that contributors are awarded each time tokens is minted, including a large and increasing portion for Map Consumption Rewards.

Map tiles are the atomic unit of the Hivemapper map that contributors use to build and refresh coverage. Each map tile is hex shaped. Trillions of these hex shaped tiles cover the entire earth. 

4K Street-Level Imagery to Map Tiles

The 4K street-level imagery and related GPS metadata collected with approved dashcams and the Hivemapper app serve as the raw ingredients for the global map. This data provides coverage for map tiles as seen in Figure 3 below.  

The Burn and Mint Equilibrium

The Burn and Mint Equilibrium with Net Emissions model is used, such that whenever map consumers burn tokens to access the network, an equivalent number of tokens is added back into the rewards pool for map contributors as shown in Figure 5 below.    

When map consumers use map APIs this transaction burns tokens, and an equivalent number of tokens is added back into the pool to reward contributors.

At a high level, contributors, including drivers, annotators, and QA reviewers, build a database of fresh and accurate map data in exchange for HONEY. Consumers of the data pay into the network by purchasing and burning tokens to compensate the contributors for their work.

Contributors in the testnet phase will continue to receive cash payments; once the Hivemapper Network launches on the blockchain rewards will only be made in HONEY tokens.

More info here - https://hivemapper.com/mapping-network/#honey

(This video was sponsored by hivemapper)