Holo Cryptocurrency (HOLO): review, forecast and investor's guide

One of the main priorities of the crypto community has been and remains decentralization. More and more projects are aimed at getting rid of central coordinators, more and more cryptocurrency encourages users to join networks that are not controlled by anyone. One of the interesting novelties in this area was the Holochain project with the cryptocurrency Holo. Here, the developers went further than the traditional blockchain and uniquely solved the problem of scalability. What is remarkable about the project, how it works and how you can make money with the help of Holo - we understand further.




Cryptocurrency Holo and Holochain: main features

Holo is the currency of the Holochain project that appeared on the market in spring 2018. The world heard about Holochain a few months earlier - in early January, when technical documentation describing the project was published online.


Holochain is a platform for creating a distributed network of decentralized applications. The creators, Arthur Brock and Eric Harris-Brown, present it as much as an alternative to the blockchain, based on its technology. The main difference from the blockchain hollow is that the latter eliminates the need for global consensus - confirmation of the action by all network participants. Holochayn forms a network of independent blockchains — consensus is necessary in them, but it concerns only a specific blockchain, and the entire holochane is not involved in a blockchain application during a transaction.


Holochain is built on a distributed hash table (DHT). This means that blockchain data and, consequently, the entire hollow-file are kept by the network participants, and the network participants are the data custodians that provide the space for applications on their devices. In a sense, a holochain is a decentralized cloud storage.


Data exchange takes place according to common holochay rules, which are based on DHT, and blockchain rules. Application creators prescribe rules for their network and can vary them as they please. DHT involves the exchange of data between nodes of custodians (that is, users) for certain keys and values. This is not an invention of the cryptosphere: many decentralized networks operate on the basis of DHT — BitTorrent, I2P, and others.


For the cryptosphere, the appearance of such a network means the following:


Solving the problem of scalability. Blockchains do not cope with the load due to the fact that the entire network confirms the transaction. In the case of a transaction, only a small part of the network confirms transactions - participants of a separate blockchain.

Safe and secure data storage. Theoretically, access to data stored on the principle of DHT may have generated requests for which the custodian nodes of a particular application will respond, but in practice this is a cumbersome task. We also have all the advantages of decentralized storage: disabling any of the nodes of the custodians and even disabling most of the nodes does not make the application inaccessible, whereas disabling the central server of the application eliminates the possibility of its operation.

Ease with maximum safety. If you need to download the entire blockchain or at least the last part of it (and these are gigabytes of data) in a decentralized blockchain application for maximum security, then in the cold run, the user works within his own small blockchain - he does not need to download the entire holochayen.

Reduced power consumption. Holochain consumes and will consume a little electricity, even if it exceeds the size of the Bitcoin network, because holochaynu do not need powerful computers and mining farms - just enough of a simple laptop or even a smartphone.

Applications in holochayne can be any - financial, infrastructural, non-financial. Basically, the project is aimed at facilitating the activities of companies that need an internal application that would distribute and synchronize information between a group of people. This can be both employees (project founders cite as an example the work of logistics companies), and users (here, the holocaine is useful, for example, to social networks).


Holo cryptocurrency: how to buy and where to store

Holo (HOT) is the internal currency of the Holochain project, aimed primarily at encouraging people to use the network.


The easiest way to get Holo within the network for hosting applications. Do not need huge spaces - a simple user computer is enough. The hoster determines the number of places that he is ready to provide, and he chooses applications that are ready to host.


Holo can also be bought on exchanges. Now most actively traded on Binance and Bitrue paired with Bitcoin, but are also present on other trading platforms in pairs with many cryptocurrencies.


Mine Holo impossible. Traditional mining in principle contradicts the Holochain mission, which clearly indicates the desire to reduce energy consumption in the cryptosphere.


In the future, the developers are planning to transform Holo into a kind of “fuel”, which holocaine will work on. Tokens will turn into Holo Fuel - a resource due to which transactions inside holochayna will take place.


So far, Holo are the usual ERC-20 tokens that can be used off-site — trade on exchanges, send to each other, and so on. They are supported by all wallets that work with ERC-20 based cryptocurrencies.




How and why did the Holo cryptocurrency exchange rate change?

Holo entered the market through ICO, which ran from March 29 to April 28, 2018. During the campaign, over $ 20 million was raised. The project was a relative success, and further price fluctuations confirmed it.


During the ICO, the token cost $ 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 course went down sharply, and until January of this year, Holo hesitated at the level of $ 0.0003-0.0006, rising a whole time.


In mid-January, the cryptocurrency entered a new round of growth, and until today there have been no serious failures. The peak came on May 21: the price of one token was $ 0.0021, and capitalization reached almost $ 300 million.


Now, however, the exchange rate has again fallen and fluctuates around $ 0.001, and with it the capitalization has decreased by $ 50 million. Today Holo ranks 36th in this parameter in cryptorate.


Should I invest in Holo cryptocurrency?

The price increase in early 2019 was the result of the active work on popularizing the project by developers. A roadmap and a launch plan for the Holochain beta have been published. What is next is still unknown, but developers continue to actively participate in blockchain events and present their project.


If the plan is implemented at a high level, holochain has a chance to gain popularity. Whether he will force out the blockchain is a moot point. But for large companies and developers of applications based on P2P and other decentralized networks, it can be a practical and convenient solution.


Another thing is investing in the Holo token. It is interesting that before the start of the ICO it was rated low - by 3 out of 10 points. Few assumed that the project would take off almost immediately, and some skeptics were suspicious of taking off because of the sharp collapse. The network suggested that the rapid growth after the ICO was associated with the release of Holo on the stock exchanges, which do not shun the use of methods of artificially promoting assets.


But it should be recognized that after last May’s fall Holo turned out to be stable and did not fall below $ 0.0003. He brought a good income to ICO-investors, having risen twice in history 20 times. The currency was also relatively profitable for those who bought or received tokens last summer: a six-fold increase is also a good indicator.


Guards the future. 133 of the planned 177 billion tokens are currently in circulation. According to the developers, the release of new will occur as the network expands and its demand for currency. “Network demand” is the key phrase given the fact that in the future Holo will ensure the availability of holochain, and not be a cryptocurrency in the full sense of the word. That is, in the long term, Holo will not bring benefits to investors who are not direct participants in the network, since they will not be traded on exchanges.


Therefore, as a long-term asset, Holo does not seem promising. But you can think about short-term or medium-term investing. Stability in the fluctuating market of 2018 is evident, there is also periodic growth - albeit not super-strong, but quite tangible. There is still a lot of time left for the cherished 177 billion if the project continues at the same pace, which means there is hope of making a profit at the next jump.


On the other hand, the growth of the Holo rate will provide attention to the cold hole, the development of the project will accelerate, and therefore, the emission may accelerate next. In such circumstances, medium-term investment will not bring benefits and only short-term investments seem justified - when an investor can sell tokens in the process of their growth, but before transformation into Holo Fuel.


And on the third hand, now the course may again fall, and the next jump will have to wait not a week or a month. In addition, Holochain has competitors operating on a similar principle, which can take the lead during the creation and launch of a network. In a word, the currency looks quite interesting, but unpredictable, so you need to invest in it carefully.

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