Bee Network White Paper (Draft V1.1)
Table of Contents
2. Project Vision
3. Project Details
Bee Network is a Decentralized Autonomous Organization (DAO) organization whose essential operations are automated agreeing to rules and principles assigned in code without human involvement.
The naming of Bee Network is inspired by the concept of Hive Mind taken from the reputable publication Out of Control: The New Biology of Machines, Social Systems, and the Economic World by Kevin Kelly. Hive is taken as the metaphor of Hive Mind given its structure: there is a clear division of labor in which each individual honey bee has its own role and responsibility, and they all work together systematically and spontaneously to ensure the smooth operation of the Hive in the absence of a central authority. This ecosystem is also known as a distributed system which its productivity relies on thousands of individual input.
This self-sufficient ecosystem has the following characteristics:
1. Recognition in the existence of individuals and modules within the organization: Individuals and modules own a high degree of independence yet maintain close contact with each other. Independence means that each module has its own division of labor and close contact means a convenient way of communication between related parties.
2. Powerful accommodation ability within each module: Each module is able to maintain its equilibrium by accomodation in the absence of a central authority.
3. Unified objective and unique capability of individuals and modules: in order to fulfill the characteristics stated above, each individual and modules share the same objective and each of them would contribute to the objective in their own way, for example, some independently extract honey, while some independently work as pathfinders.
The organizational structure within a hive includes a queen bee and numerous worker bees. Bees communicate (such as informing the location for extracting honey) by dancing. When the hive is under attack and when a bee transmits the signal, the rest of bees will join the fight together. This type of collaboration between bees makes the hive a complete organization. The operation of the bee colony relies on the spontaneous contribution of each individual. Even though the power of each individual is relatively limited, the collaboration of these joint powers could be very powerful.
Embodiment of Hive Mind
The project is named as Bee Network with our vision that the network will operate like a hive which by collaborating the spontaneous contribution of each individual, the network will become a powerful force and thrive.
2. Project Vision
The Bee Network core team is composed of top-tier experts with specialism in internet & blockchain technology, mathematics & cryptography experts and community volunteers. If you have an interest to join the Bee Network team or become a community volunteer, you can email us your resume to firstname.lastname@example.org
The initial development of the Bee Network is mainly funded by anonymous sponsors and the project will continue to draw further sponsorship. Meanwhile we are in progress of forming Bee Network Foundation. We will announce the list of core team members, sponsors and advisors upon the establishment of the foundation. As the Foundation and the core team own 25% of the total issued Bee as development reward, these Bee will be also be allocated to project sponsors and the further build-up of Bee Network ecosystem.
Bee Network is committed to utilizing blockchain technology to establish an open internet platform and an ecosystem of Dapp (decentralized application). We will also progressively introduce mobile games, social network, e-commerce, and lifestyle services with the ultimate goal of turning every user’s role as the platform’s consumer, contributor and value owners at the same time.
User Development Phases
Phase 1: from 0 to 1 million users. The 1-million-user milestone is accomplished already.
Phase 2: from 1 million users to 10 million users. To ensure the safety and privacy of Bee Network and its users, the core development objective of phase 2 will be launching KYC (Know Your Customer) practice to ensure the validity of users. In addition to KYC, we will also establish community service which allows community members to contribute their ideas for defining the core development objective of next phase. Furthermore, during Phase 2 we will also introduce Node and Dapp ecosystem so that operation of Bee Network is sustained stably by user interactions within this dynamic community.
Phase 3: from 10 million users to 100 million users. During phase 3 we will develop a Bee Network value exchange marketplace and launch it when the development of Bee Network’s ecosystem is mature and sustainable. By utilizing Bee Network’s blockchain technology, the use and transaction via an open internet platform will be fostered.
3. Project Details
Bee Network is a new blockchain innovation that provides gamified experience for users to earn Bee, a cryptocurrency that you can mine on your mobile phone. By playing the roles of Miner, Referrer and Verifier, Bee Network players will earn rewards in Bees. In order to make Bee valuable, Bee Network is specially designed as a network consisting of genuine people which fosters players to exchange goods, service and expertise in real life with their Bee balance and eventually list Bee on major cryptocurrency exchanges for trading Bee with fiat money.
The Bee Network economic model is built upon the following principle, i) new supply of Bee becomes 0 when the total user base has grown to 1 billion worldwide ii) earlier joiner should be rewarded better than late joiners iii) users with more contribution to the community should be rewarded better iv) contribution made by Bee Network ‘s core development team should be recognized and rewarded v) total supply of Bee is dependent on number of users.
The total supply of Bee = M + R + V + C when Bee Network ceases Bee supply when it hits the 1-billion-user mark. M, R and V refers to the total Bee earned by all miners, referrers and verifiers before supply ceases. C refers to Bee rewarded to Bee Network’s core development team, which is 25% of (M + R + V). Hence, the actual amount of total supply of Bee is dependent on the total users activity before Bee Network hits the 1-billion-user mark.
As cryptocurrencies and blockchain are still relatively new technologies with vast potential yet unknown to the mass public, we at Bee Network hope our application serves as a useful tool to educate everyone on cryptocurrencies. Bee Network is free to download and play, so while learning about cryptocurrencies, players also have the opportunity to be rewarded in a growing asset without investing from their own pockets.
How does Bee Network work?
There are three main roles in Bee Network – Miner, Referrer, and Verifier. Once you have pressed the thunder button to kick start your 24-hour mining session, you will earn Bee with the formula of (base rate) + (base rate) x 25% x (number of active miners in your earning team) in the next 24 hours until your mining session ends. Base rate as miner starts at 1.6 Bee per hour, and will be down 50% to 0.8 Bee per hour when total user base has grown to 100,000 user worldwide, a further 50% cut to 0.4 Bee per hour when it grows to 1 million users worldwide, another 50% cut to 0.2 Bee per hour when it hits the 10 million, another 50% cut to 0.1 Bee per hour when it hits 100 million and eventually no new supply when Bee Network has reached 1 billion users worldwide. So the keys to earning more Bee is to mine and refer new users to join your earning team as much as possible when the base rate remains high.
A Miner can earn the base rate of 1.6 Bee per hour (as mentioned above, it will be cut to 0.8, 0.4, 0.2, 0.1 and 0 according to the growth of user base) by logging into application every 24 hours and clicking the mining button. Unlike mining companies, you do not need a vast amount of energy to mine Bees on your smartphone as you will automatically earn hourly mining rate after clicking the mining button. Each mining session will automatically end after 24 hours, and all you have to do is open the application and click the mining button again to keep earning Bees.
A Referrer is someone who helps build a bustling gaming community with trusted members. The value of Bees increases as the community grows larger and more members conduct transactions of goods and services with their Bees. A Referrer can refer new miners to join your earning team. For each active member in your team, you will earn an extra 25% base rate as your referral bonus. If you have 10 members in your earning team and all of them are actively mining, you will earn an extra 10 x 25% = 250% Bees of your base rate. Therefore, the key to earn more Bees is to refer more new miners to join your mining division and remind them to login daily for mining. For example, given your base rate is 1.6 Bee per hour, you have referred 10 new miners to join your mining team, yourself and 7 of them are actively mining today, you will earn at 1.6 (base rate) + 1.6 x 7 x 25% (referral bonus) = 4.4 Bees per hour today. Please note that there is no cap in the number of new users that you can refer to your earning team.
Therefore there is no ceiling in referral bonus. You can imagine the difference in earning when you have built up an earning team of 200 users versus mining alone.
Verifier (The role of Verifier will only be launched since Bee Network has entered Phase 2)
A Verifier’s main objective is verify the identity of members in their network to ensure that the Bee Network ecosystem is fully transparent and trustworthy. A Verifier will add verified users in their earning team to his security circle. When Bee Network has entered Phase 2, there will be a KYC (Know Your Customer) process, all members within your security circle should pass the KYC process before you can trade Bee with other users’ goods & service via Bee Marketplace. Hence, a Verifier shall only verify pending members they know in person and have enough trust to corroborate their authenticity to prevent any unethical or fraudulent activities on the network. Verifiers can earn extra 0.2 Bees x number of verified people per hour to their base mining rate. If a Verifier believes that any members in their network are no longer trustworthy, they can report the suspected members by clicking the “no longer trusted” button.
Verifiers who have reported members who are confirmed to be involved in fraudulent activities will be rewarded with extra Bees, with the amount varying depending on a case by case basis.
Early Bee Network players will have an advantage to earn more Bees as the base rate as a Miner will be reduced by 50% from 1.6 -> 0.8 -> 0.4 -> 0.2 -> 0.1 -> 0 Bee per hour when the total user base is grown to 100,000, 1 million, 10 million, 100 million and 1 billion. Hence, it is always important to get started now before the base rate is halved.