Holo is an internal non-financial credit device that allows the owner to share additional hosting space so that others can run their applications. A key advantage of Holochain is that each device on the network receives its own secure register and can function independently, as well as interact with all other devices on the network to exchange data and support decentralized solutions.
What are the perspectives of Holochain cryptocurrency? What is HOT price prediction for 2020? Let’s find out with Changelly!
Holochain Fundamental Value
The Holochain platform is absolutely unique because instead of the usual PoS and PoW technologies, it uses the DHT (Distributed Hash Table) algorithm. Using this algorithm allows you to make the Holochain network more scalable. For transactions between two people within the network, it is not necessary to receive confirmation from network participants and record it on the blockchain. They can create their own chain and make payments within it.
The technology that Holochain offers can be used in:
An interesting feature of Holochain is its ability to support a wide range of consensus or coordination systems between users. For example, Holochain may include what is called the Proof of Service consensus system when a user receives a reward after providing a service to another user.
Holochain users are connected to each other by a peer-to-peer network. There is no centralized server, data storage, and processing of application functions. Each user device acts as a web server and data storage for applications.
For the crypto sphere, the appearance of such a network means the following:
The solution to the scalability problem. Blockchains cannot cope with the load due to the fact that the entire network confirms the transaction. In a Holochain, transactions are confirmed only by a small part of the network, participants in a separate blockchain.
Safe and secure data storage. It is theoretically possible to access data stored on the basis of DHT, possibly by generating requests to which the host nodes of a particular application will respond, but this is practically a laborious undertaking.
Lightweight with maximum safety. If in a decentralized blockchain application for maximum security you need to download the entire blockchain or at least the last part of it (and this is gigabytes of data), then in the Holochain the user works within the framework of his own small blockchain. It does not need to download the whole Holochain.
Reduced power consumption. Holochain consumes and will consume a bit of electricity, even if it exceeds the size of the Bitcoin network because the Holochain does not need powerful computers and mining farms, just a simple laptop or even a smartphone is enough.
Applications in a Holochain can be anything: financial, infrastructure, non-financial. The project is mainly aimed at facilitating the activities of companies that need an internal application that would distribute and synchronize information between a group of people. It can be both employees (the founders of the project cite the work of logistics companies as an example), and users (the Holochain is useful to social networks).
Holochain (decentralized technology based on nodes)
Holo entered the market through an ICO, which was held from March 29 to April 28, 2018. The campaign raised over $20 million. The project was a relative success, and further price fluctuations confirmed it.
During the ICO, the token was worth $0.0001. A week later, on May 6, the price rose to $0.002, and the total capitalization approached a third of a billion dollars. But then the rate went down sharply, and until January of 2019, Holo fluctuated at the level of $0,0003-0,0006, rising just a little.
In mid-January, cryptocurrency entered a new round of growth, and until today there have been no serious failures. The peak occurred on May 21, the price of one token was $0.0021, and the capitalization reached almost $300 million.
Now, however, the exchange rate has fallen again and fluctuates around $0.0007, and the capitalization has decreased by $104 million. Today, Holo takes 51st place in crypto-rating by this parameter.
Holochain Technical Analysis
Well, there is not actually any technical analysis expertise of Holochain cryptocurrency. However, here is the aggregate rating for HOT from several traders & analysts on TradingView.
Holochain Community Reputation
If we look at the Google Trends graph, we can see that the main up and down points correspond to changes in the price graph. This means that the price of the coin somehow depends on the popularity of the coin and the events associated with it.
Influencers’ Views on Holochain
Juan Villaverde, economist and mathematician, engaged in the analysis of cryptocurrencies since 2012, combined several cryptocurrencies and spoke out about this group. Cryptocurrency teams, such as EOS, ADA (Cardano), Holochain and others, are currently working on creating Internet 3.0. This is a safer and more stable version of the world wide web. Most of them are ultimately likely to fail. However, the potential benefits are huge. If the most advanced cryptocurrencies succeed in creating Internet 3.0, they may someday reach trillions of dollars in market capitalization.
Some Twitter users can see the positive trend in the HOT price:
Mitoshi Kaku, the technical analyst, claims that the HOT coin will reveal its potential in the near future:
Scott Melker shared with users his opinion about Holochain coin future:
Moreover, crypto advisers believe that it is necessary to buy come HOT coins:
What to expect from Holochain in 2020-2025
The price increase at the beginning of 2019 was the result of active work to popularize the project by developers. A roadmap and launch plan for the Holochain beta network was published. What’s next is still unknown, but developers continue to participate in blockchain events actively and present their project.
If the plan is implemented at a high level, the Holochain has a chance to gain popularity. However, for large companies and developers of applications based on P2P and other decentralized networks, it can become a practical and convenient solution.
Another thing is investing in the Holo token. Before the start of the ICO, it was rated low, by 3 out of 10 points. Few suggested that the project would take off almost immediately, and some skeptics were suspicious of taking off, due to a sharp collapse. The network suggested that the rapid growth after the ICO was associated with the release of Holo on exchanges that do not disdain using methods of artificially promoting assets.
After last year’s May fall, Holo turned out to be stable and did not fall below $0,0003. It brought quite a good income to ICO investors, having risen 20 times twice in history. The currency was also comparatively profitable for those who bought or received tokens last summer: six-fold growth is also a good indicator.
Disclaimer: This article should not be considered as offering trading recommendations. The cryptocurrency market suffers from high volatility and occasional arbitrary movements. Any investor should research multiple viewpoints and be familiar with all local regulations before committing to an investment.
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