HyperSpace (AMP)

From CryptoCurrency Wiki

Revision as of 13:23, 6 June 2022 by Oscarius (talk | contribs) (1 revision imported)
(diff) ← Older revision | Latest revision (diff) | Newer revision → (diff)

Lua error: Cannot create process: proc_open is not available. Check PHP's "disable_functions" configuration directive.


  • UPDATE: no longer active. Was suddenly announced (10-2019) it would quit. "HyperSpace is shutting down. In 24 hours, HyperSpace will be taken offline and you will no longer be able to login nor access the information on Hyperspace.app. It’s been five years since we began this journey. Five years pushing toward our vision, overcoming hurdle after hurdle, each unfamiliar, each unique and unexplored. Hurdles new to ourselves and to the market in which we were operating. In which we were pioneers."
  • Used to be called Synereo but had a rebrand. Now is called HyperSpace (11-2018) but still uses the AMP ticker. Synereo was the Social Network platform which is now HyperSpace, Rchain was the blockchain technology behind it. They parted ways after fights over the direction of the project.
  • Not Mineable. Built on OMNI.
  • “There was considerable confusion during Synereo’s second crowdsale about how many AMPs existed and who controlled them. Synereo ended up burning 731 million AMPs.”
  • First issued in 2015, the AMP powers the HyperSpace social network (whose beta went live in 2019), which incentivizes and rewards users for value-creation - without intermediaries or fees; "HyperSpace is designed as a platform to facilitate a decentralized economy, changing the current models and removing third parties who do not contribute to the peer-to-peer exchange of information and value."
  • The project aims to 'enable a system of Universal Basic Income' by allowing users to participate in HyperSpace's content economy, where they can earn AMPs for adding value to the network in various ways - creating, curating, distributing content, managing and contributing to communities. "Powered by Universal Basic Income (UBI), every registered and verified user who actively participates in HyperSpace will receive a daily allowance of 100 AMPs - for free."
  • Has no working wallet in their platform yet (7-2019) due to legal constraints in Israel where the company is based. "To our great dismay, we discovered a newly-minted regulation in Israel - where we legally operate from - preventing services not-too-similar to ours from dealing with currency without jumping through a few regulatory hoops and integrating several KYC/AML measures. Halting our wallet integration plans, we took to arguing the case for why we don’t fall under the relevant definitions, investigated alternative methods of achieving the same goal, and eventually came to the conclusion that it is unwise to resist this fate; operating outside of the new regulations is a criminal offense, putting the team and the platform at risk. 

Decentralization would be the answer, would it not? Unfortunately, there’s not yet a solution decentralized enough - such that we could confidently claim the company and team are sufficiently removed from the transaction to be safe from prosecution - that could be integrated, allowing people to interface directly with the HyperSpace system - more parts of which would have to be decentralized as well - from their decentralized client in a robust and scalable way. While this is a natural step for the future of the platform, it is not feasible within a reasonable amount of time and with existing technology. It may be a while before wallets are implemented into HyperSpace, and we’ll have to continue relying solely on UBI to inject life into the economy." On the question of decentralisation:

  • "HyperSpace is currently partially decentralized and will continuously become even more so. While AMPs live on the blockchain are fully decentralized tokens, some aspects of the HyperSpace platform are still centrally controlled by Space managers and the Synereo team, for the time being. In the future, the HyperSpace community will be given even more control over governance and smart contract decisions.

The HyperSpace roadmap is all about decentralization and making additional features automated and distributed with time. An important future milestone includes the eventual launch of a decentralized storage service that enables miners to host content and provide bandwidth in exchange for AMPs, while allowing users to upload audio and video files straight onto the HyperSpace platform, instead of linking them to external websites. Click here to view our full roadmap."

Amplification allocations

From a Hyperspace newsletter update:

Amplifications are the driving force behind the HyperSpace economy - after all, it’s how content creators monetize their contributions. However, it’s not just content creators that benefit, and Amplifications are designed to reward all value-creating parties that enable the economy.

The breakdown is as follows:

  • 60% - allocated to the creator
  • 20% - allocated to post engagement participants.  It is split between the top ten contributors to post engagement
  • 18% -  allocated for Space Managers and the Space Admin customizes the amount to be divided between themselves and the Moderators 
  • 2% - acts as an anti-inflationary mechanism, helping the HyperSpace economy and the number of AMPs circulating stay proportional to the amount of activity taking place

Team, investors, partnerships, etc.

  • Operates from Israel
  • Konforty, Dor; CEO of Synereo
  • Meredith, Greg; CTO of Rchain, left with Rchain.
  • Konforty, Nor; sister of Dor, “there have been concerns over 3 million AMPs given to Dor’s sister, Nor Konforty for design work in the very early stages of Synereo. Synereo clarifies at the time this rate was negotiated, AMPs didn’t exist yet. For reference, 3 million AMPs is only 3.5% of AMPs in circulation today and only .3% of AMPs in existence.”
  • Works together with Ethereum researchers and devs, incl Vitalik & Vlad Zamfir