Hut34 Entropy: Decentralized Data and Intelligent Service Protocol
The Hut34 Entropy whitepaper was released by the Hut34 Project team in September 2017, aiming to address the pain points of centralized data control and explore building a new paradigm for an open and fair data economy.
The theme of the Hut34 Entropy whitepaper is “Hut34: The Decentralised Data Economy.” Hut34 Entropy’s uniqueness lies in its proposal and construction of a decentralized network for data, information, and digital services, using blockchain technology to achieve fair exchange and monetization of data and knowledge, and supporting interoperability among artificial intelligence, robots, and IoT devices; the significance of Hut34 Entropy is to lay the technical and economic foundation for an open global knowledge economy, significantly lowering the participation threshold for data producers and developers, and empowering them to access global information and user networks.
The original intention of Hut34 Entropy is to solve the problem of data centralization and create an open, neutral “data world computer.” The core viewpoint expressed in the Hut34 Entropy whitepaper is: by establishing an open, distributed, interconnected robot network and token economic model based on blockchain, Hut34 can achieve reliable and fair monetization and exchange of data, information, and knowledge, thereby promoting the formation of a shared global superintelligence without centralized intermediaries.
Hut34 Entropy whitepaper summary
Friends, today let’s talk about a blockchain project called Hut34 Entropy (ENTRP). But before we start, I have to clarify that the official information available about this project, especially the whitepaper, is quite limited, and much of it seems a bit dated. So, today’s introduction is based on the materials I could gather, and I’ll try to explain everything in plain language, but please remember, this is just a preliminary overview and should not be taken as investment advice!
What is Hut34 Entropy
Imagine we live in an era of information explosion, with data everywhere—your smart speaker knows what songs you like, your fitness tracker records your workout data, and even your chats with friends contain tons of information. The Hut34 Entropy project is like trying to build a massive “free data marketplace” and “information superhighway.” Its core goal is to create tools for the “new data economy,” enabling individuals, artificial intelligence (AI), various smart devices (IoT), and other digital services to securely share, collaborate, and even monetize their data and information in a decentralized environment.
Simply put, it aims to break down data silos, allowing data and information scattered in different places to circulate and be traded like commodities in this marketplace, and the process is transparent and fair. For example, if an AI bot needs a specific type of data to learn, it can find and purchase that data through the Hut34 Entropy network; or if you have some unique data, you can sell it on this platform and earn revenue.
Project Vision and Value Proposition
Hut34 Entropy’s vision is to build a “decentralized global intelligence network.” They believe that although there are many powerful centralized AIs (like Siri, Alexa), a decentralized solution is crucial for fair data exchange and monetization. The core problem they want to solve is how to enable open, secure, and monetizable exchange of data, information, and knowledge among different participants—including AI, robots, IoT devices, and even humans.
This project hopes to use blockchain technology to give data owners better control over their data and benefit from it, rather than letting a few centralized platforms monopolize data value. It’s like building a “free trade zone” for data and information, allowing everyone to participate and create and share value together.
Technical Features
From the available information, Hut34 Entropy mentions a concept called Hut X. Hut X is described as an extension of the 0x Protocol, designed to provide a decentralized data exchange protocol. The 0x Protocol is an open-source, non-custodial decentralized trading protocol mainly used for token trading on the Ethereum blockchain. Hut34 Entropy borrows from and extends the 0x Protocol, applying it to data exchange.
This means Hut34 Entropy may leverage the mature experience of the 0x Protocol in decentralized trading to build its data exchange layer. It aims to enable the connection, routing, and query resolution of data, information, and knowledge through this protocol, and to seamlessly monetize these processes.
Tokenomics
The native token of the Hut34 Entropy project is ENTRP. This token acts as the “medium of exchange” within the Hut network. That is, when data, information, or services are exchanged, routed, or queried within this network, the ENTRP token is used as the “currency” for payment and settlement.
According to CoinMarketCap, both the total supply and max supply of ENTRP are shown as “--”, and the self-reported circulating supply is 0 ENTRP, with a market cap of $0. DropsTab also points out the project lacks accurate trading data, possibly due to limited trading liquidity or delisting. This may mean the token currently has no active trading market, or the relevant data has not been verified or updated.
In the early days, the ENTRP token was initially issued on the Ethereum blockchain, and later expanded to Binance Chain as a BEP-2 token to increase accessibility.
Team, Governance, and Funding
Regarding the core team of Hut34 Entropy, early sources mention founder Tim McNamara and Peter Godbolt (who provided an overview of the Hut X tool). However, currently, publicly available team information is very limited, especially regarding current active members and governance structure—no detailed or up-to-date information was found. Searching for “Entropy team” mostly leads to esports teams, not this blockchain project.
Roadmap
According to 2018 sources, Hut34 Entropy once planned to submit improvement proposals to the 0x Protocol that year. The project also mentioned migrating the ENTRP token from Ethereum to Binance Chain and developing the Hut34 wallet. But currently, there is no publicly available detailed roadmap for recent or future plans, and project news updates are mainly from several years ago.
Common Risk Reminders
Given the current information status of the Hut34 Entropy project, here are some risks to be aware of:
- Information opacity and outdated risk: Lack of up-to-date whitepaper, official website updates, and active community information makes it difficult to fully understand the project’s current status, technical progress, and future plans.
- Market liquidity risk: The ENTRP token has very limited trading data on mainstream exchanges, even showing 0 circulating supply and 0 market cap. This means market liquidity may be extremely low, and buying or selling could be very difficult.
- Project activity risk: Existing news and updates are mostly from several years ago, which may indicate the project is currently inactive or has ceased development and operations.
- Technical and security risk: If the project is no longer maintained or updated, potential technical vulnerabilities may not be fixed in time, posing security risks.
- Not investment advice: Once again, the above information is for reference only and does not constitute any investment advice. Always conduct thorough independent research and risk assessment before considering any cryptocurrency project.
Verification Checklist
Due to limited and possibly outdated project information, here are some suggested verification points, though it may be difficult to find the latest data:
- Block explorer contract address: The Ethereum contract address is
0x5bc7e5f0ab8b2e10d2d0a3f21739fce62459aef3. You can check its on-chain activity via Etherscan and similar tools, but note that on-chain activity does not necessarily indicate project activity.
- GitHub activity: Look for the project’s GitHub repository, check code commit records, update frequency, and community contributions. No active GitHub link was found directly.
- Official website and social media: Visit its official website (hut34.io) and social media (such as Twitter, Medium) to check for the latest announcements and interactions.
Project Summary
The original vision of the Hut34 Entropy (ENTRP) project was grand and forward-looking, aiming to build a decentralized data economy through blockchain technology, enabling data and information to be freely and securely exchanged and monetized. It hoped to solve the problem of data silos and give data owners more control and profit rights. The ENTRP token serves as the medium of exchange within its network, carrying the function of value transfer.
However, based on currently available information, the project seems to face challenges such as insufficient information updates, low market activity, and poor token liquidity. Many key data points, such as detailed whitepaper content, latest team developments, and a clear future roadmap, are hard to find. The token’s market performance also shows a lack of active trading.
For anyone interested in Hut34 Entropy, I strongly recommend conducting in-depth research and due diligence before making any judgments or decisions. Please be cautious with any project lacking transparency and up-to-date information. For more details, users should research independently.