Holo (HOT) Review 2021
Holo is a distributed cloud-hosting marketplace for peer-to-peer (P2P) applications. HoloToken (HOT) is the native cryptocurrency of Holo, which is also convertible into HoloFuel, the internal micro-cryptocurrency that powers the Holo network.
Holo was first launched in 2017 with the aim of building a bridge between cryptocurrency and more mainstream real-world applications, such as creating a marketplace for peer-to-peer (P2P) applications.
In this article, we take a closer look at the HoloToken (HOT) and Holo; the team, roadmap, network, and how this influences the price and future valuation predictions for the cryptocurrency HOT.
What is Holo (HOT)?
HoloToken (HOT) is an ERC-20 cryptocurrency, first launched during the Holo ICO (Initial Community Offering) in 2017. HOT is available and can be bought and exchanged across most major exchanges — centralized and decentralized — and was initially launched to provide the financial capital to power the Holo Network, and is convertible into internal micro-cryptocurrency that powers the Holo network, known as HoloFuel.
As is the case with other coins launched to fund new projects, it now functions the same as other cryptocurrencies, and can be bought, swapped, and exchanged. In order to understand the origins, strengths, and weaknesses of HOT better, we will review the team, roadmap, and other details about Holo.
Holo (HOT) Team
Holochain Foundation is the organization that owns Holo Limited, a cloud hosting company with a difference. Holo Ltd. is responsible for building, improving, and maintaining the various components of the Holo Network, such as HoloPorts, HoloFuel, and the Holo hosting apps that make the whole distributed marketplace for P2P apps possible.
Holochain, the blockchain that powers all of this, is an Open Source project; the intellectual property resides with the Holochain Foundation. The Holo founders have taken a different approach than other open-source projects. Instead of asking for money and code contributions for businesses and users of the platform, Holo Ltd., the company owned by the Holochain Foundation, provides the working capital for the Foundation.
Arthur Brock and Eric Harris-Braun are the co-founders (both serial entrepreneurs), and they lead a team of 22 developers, designers, community managers, and other seasoned professionals. Holo is well-established and has a vision of bridging the gap between crypto and real-world applications and ultimately disrupting the $400bn cloud-hosting sector.
According to the Holo Green Paper published in 2017: “The Holo team has vast experience over the last 15 years building alternative currencies. We have designed monetary currencies, reputation currencies, and cryptocurrencies, and alternate value flows to make communities work as intended.”
Holo (HOT) Roadmap
Holo has a long-term vision and roadmap. It wants to make blockchain-based applications mainstream, starting with a marketplace for P2P applications. Since launching, everything planned within the initial roadmap has been built and implemented. There is a strong and active community supporting the Holo Network, alongside numerous businesses using Holo for P2P distributed cloud-hosting.
Now Holo is established and running smoothly; they operate along similar growth parameters to companies and foundations of comparable sizes. Holo gives back to the community that supports them in practical ways, such as running a free six weeks bootcamp, teaching developers to build decentralized, scalable applications with Holochain.
Holo has also launched (in Alpha so far) a P2P chat application hosted on the Holo Network that works in an Internet browser, known as Elemental Chat.
Holo (HOT) Network
The Holo Network is described as being comparable to “cloud hosting what Airbnb was to hotels.” A disruptor to a multi-billion dollar sector, which is already well-established, giving anyone with a computer the ability to “become a host by turning their computer into a source of revenue, getting paid in HoloFuel for hosting peer-to-peer applications”, according to the Holo website.
Holochain is the open-source blockchain-based network designed for completely decentralized P2P applications, such as dApps. Holochain makes it possible for businesses and individuals to build and host P2P apps through the distributed cloud-hosting network.
Anyone with a computer can become a host. Being a host means your device acts as a cloud-based storage for as much of an application or several applications that you've got the spare space to accommodate.
Instead of an app being hosted in AWS, or another cloud provider, an app is distributed between several hosts, and those hosts are being paid in HoloFuel, the internal micro-cryptocurrency that powers the Holo Network. Anyone with however much spare computing space they can offer when plugged into the network can become a host.
Unlike other crypto-tokens, HoloFuel is a mutual-credit token, and thanks to the completely distributed and decentralized nature of the token, it’s capable of billions of transactions every day.
Balances of HoloFuel act as a ‘credit’, with hosts expected to have an equal balance acting in the form of a ‘debit’, either in HOT, another cryptocurrency, or a fiat currency. Plus, everything on the Holochain Network is asset backed, because it’s providing a valuable service, in the form of cloud-hosting.
How to mine Holo (HOT)?
At the time of writing, there is no public information about the ability for new users to mine Holo (HOT). The ICO ended in April 2018, generating $20,649,000 USD, which far exceeded the original goal. The total number of tokens mined was 177,619,433,541, with the majority of those in circulating supply after the initial capital requirements were raised.
Holo (HOT) Value Data
The current price of HOT is $0.008975, according to CoinMarketpCap data. The fully diluted market cap is $1.52 billion, with an average 24-hour trading volume in the $200 million range.
HOT is not a volatile currency, and the creators of the Holochain Network never anticipated or expected that to be the case, especially when the micro-internal cryptocurrency of the network (HoloFuel) is asset-backed and operates as a form of a crypto-based accounting system. Various internal and external mechanisms and structures have ensured that HoloFuel behaves in every measurable way like a currency, with enough fluidity and flexibility, without any of the risks of other crypto-tokens, where fraud is easier to commit, and ‘pump and dump’ schemes can cause significant and regular price spikes and fluctuations.
Holo (HOT) Price Prediction
In June 2021, HOT reached a high of almost $0.03, before settling back down to closer to a baseline norm of around $0.009, which is approximately where it currently is. It is demonstrating some overall upward trading momentum and price moving upwards, which could continue.
Apart from one price spike, it’s understandably difficult to predict long term price movements of HOT. As a fairly stable currency, it has demonstrated longevity without surprising anyone, making it a valuable one to hold in a portfolio, or buy, swap, and trade according to individual investors needs and overall market trends.
How can I buy and trade Holo(HOT)?
HOT is a stable cryptocurrency, based on the Holochain Network, and can be traded on a wide number of centralized (CEX) and decentralized exchanges (DEX).
At the same time, thanks to the non-custodial and limitless nature of the ChangeNOW exchange, you can buy, sell, and swap HOT tokens on ChangeNOW. Take a look at how it works on our website.
Holo (HOT) Summary
HOT is a cryptocurrency currently trading around $0.008975, based on current pricing data.
The market cap for HOT is $1.52 billion, with an average 24 hour trading volume in the $200 million range.
HOT can be traded on a wide number of centralized (CEX) and decentralized exchanges (DEX), and on the ChangeNOW exchange.
HOT first launched onto the market during the Holo ICO in 2017, which closed in April 2018, raising over $20 million in startup capital for Holochain, which is owned by the Holochain Foundation, and receives ongoing funding from Holo Ltd., a company which operates within the Foundation, an open source project.
Holochain has a vision to disrupt the cloud-hosting market, providing a blockchain-based framework for P2P cloud-hosting. The aim is to make blockchain-based applications mainstream, starting with a marketplace for P2P applications.
Anyone with any spare storage can be a host, and hosts are paid in HoloFuel, which is the internal micro-cryptocurrency that powers the Holo network; which acts as a form of double-entry based crypto accounting system.
Are you looking to invest in cryptocurrency, or implement fast and safe crypto swaps?
On ChangeNOW, you can buy any cryptocurrency with a credit or debit card, and sell or swap currencies, and exchange whatever you’ve swapped back into fiat currency, if you want.
Disclaimer: ChangeNOW does not provide investment advice. Cryptocurrencies are currently unregulated, which means every time you invest, your capital is at risk. Past performance is not an indication of guaranteed future price increases.
However, we put every effort into ensuring every transaction and exchange is secure, internally and working with partners, such as Simplex. ChangeNOW seeks to maintain accountability to its customers, employees, and the broad crypto community. We do it through strict AML compliance, social change encouragement, regular service quality upgrades, and community involvement.
