Blockmate Ventures Inc (TSX-V:MATE, OTCQB:MATEF) announced that its investee, Hivello, has entered a partnership with blockchain developer U2U Network to explore the distribution of U2U nodes within Hivello's ecosystem.
The collaboration is designed to integrate U2U's high-performance blockchain capabilities with Hivello's decentralized physical infrastructure network (DePIN).
Hivello allows users to earn passive income by sharing idle computing power through its user-friendly app, while U2U brings advanced blockchain architecture designed for the Internet-of-Things and artificial intelligence sectors.
U2U's platform leverages Directed Acyclic Graph technology and the Helios Consensus, achieving speeds of up to 17,000 transactions per second (TPS) per sharding. Tests have demonstrated scalability to 500,000 TPS with a finality time of 650 milliseconds.
The partnership will help create passive income opportunities for Hivello’s users, according to Blockmate CEO Justin Rosenberg.
"The Hivello team continues to expand their partner network through opportunities like this partnership with U2U Network that highlights the global demand for DePIN as more users capitalise on the simplicity of the Hivello app that connects users with buyers of their computing power,” Rosenberg told shareholders.
The integration with U2U is expected to enhance the network's supply capabilities, addressing increasing demand from IoT and AI applications. Hivello users will be able to provide computing power to the U2U ecosystem, supporting industries with intensive data requirements.
“This collaboration is a step forward in our shared goal of bringing decentralized infrastructure and the benefits it holds, to a broader audience and empowering users worldwide,” Domenic Carosa, chairman of Hivello added.
Blockmate Ventures holds a major stake in Hivello.