What Is Holo Crypto (HOT)? Price, History & Where To Buy

Holo is a blockchain network that hosts Holochain apps (hApps). Users are rewarded in crypto incentives for their network contributions.

Current Holo Crypto (HOT) Price

Holo (HOT) Exchange Rate Calculator

Historical Holo Price Chart

The blockchain protocol has recently garnered attention because of its unique approach and sharding mechanism. Anyone can easily become a host of a Holochain application.

HOT is the native token used to power the Holo network – HOT is currently the 95th largest cryptocurrency by market capitalization.

How Holo (HOT) Works

Holo is the native utility token for the Holo Network. The Holo token will soon be tradable for HoloFuel. Essentially, users can participate in the Holochain p2P ecosystem by loaning out computational power from their personal devices.

The Holo Network is especially unique because it allows you to continue performing activities while the software runs in the background. Users can easily use personal devices like laptops and cellphones; they also get to decide which Holo applications they wish to serve.

Holochain positions itself as a blockchain that can solve the trilemma of security, scalability, and decentralization. The blockchain claims to be able to achieve high scalability and network speeds while keeping transaction fees nominal.

Holochain is an open-source framework that hosts P2P applications. It is not the typical blockchain and can be considered much more energy-efficient than traditional blockchains. Essentially, each node functions independently and keeps track of its history. Users can choose which Holochain apps they’d like to host, as well as their particular hosting price.

A distributed hash table is used to create a shed public space. This ensures that if the network goes down, important data is not lost. What makes Holochain even more unique is that every application’s use case is configurable and customizable.

Holochain ensures consensus is reached by identifying any bad-acting nodes – this ensures that validation takes place accordingly and in a transparent manner. Individuals can refer to the Holochain whitepaper for a more in-depth explanation of the protocol.

What Is Holo (HOT) Used For?

HOT tokens were initially launched in 2018. The initial coin offering was different compared to traditional ICOs – uses that participated in the initial coin offering IOU tokens. These tokens were redeemable HoloFuel tokens.

HoloFuel tokens have various use cases – the most fundamental purpose is to reward hosts for providing computational power. Essentially, HoloFuel tokens facilitate microtransactions that take place on the Holochain. Simply put, network participants that provide processing power keep the Holo network secured.

The Holochain network claims to solve issues that have plagued the blockchain industry. The functionality of the network is what differentiates Holo from traditional blockchain networks.

Additionally, users can trade HOT tokens on various cryptocurrency exchanges. Experienced swing and arbitrage traders can capitalize on price fluctuations.

Where To Buy Holo (HOT) Token

HOT is currently one of the most popular cryptocurrencies on the market. The HOT token has experienced significant price appreciation since its launch.

HOT tokens are commonly traded on most centralized crypto exchanges. Before you’re able to purchase HOT, you’ll need to deposit fiat money onto an exchange; sequentially, HOT tokens will then be credited to your digital wallet on the exchange.

The crypto exchanges below are amongst the safest place where you can buy, sell and store tokens.

1. Gate.io
2. HTX
3. KuCoin
4. Binance
5. Bitfinex

HOT Token holders can transfer their tokens to a compatible digital wallet such as MetaMask.

Additionally, many users can earn generous yields from participating in various DeFi products such as liquidity provision, farming, and staking.

About Holo (HOT)

How long has Holo (HOT) existed?

The Holo coin (HOT) was initially founded in 2017 by Arthur Brock and Eric Harris-Braun. The blockchain companies headquarters are in Gibraltar – the principle behind the project was to allow a unique hosting system for distributed applications, where peers could ensure the optimization of the protocol.

The unique distributed hash tables are what garnered an immense amount of attention for the Holochain platform and the Holo token.

What’s controversial about Holo (HOT)?

Most crypto projects have at least some form of controversy surrounding them. The most common issue is that retail investors don’t know enough about the crypto space before they invest in certain projects.

Before investing in any project, it is essential to learn as much about the fundamentals of blockchain and cryptocurrencies. The crypto space is notorious for scam projects and rug-pulls, and more often than not, retail investors end up on the losing end.

Many projects claim to provide solutions to problems that haven’t even become issues yet; however, unknowing retail investors are none the wiser.

Let’s take a look at the top controversy surrounding Holo (HOT):

• Large Token Supply – When investing in particular projects, it is important to consider the token supply. This is an important consideration because if the token supply is incredibly high, it indicates that the token is not particularly scarce. Tokens are often seen as more valuable when they have a lower token supply compared to those with high token supplies.
• The total token supply of Holo is 177 billion, which is incredibly high compared to most other cryptocurrency projects. Most crypto investors opt for projects that have lower token supplies. The token supply of Holo might be seen as too high, which could be a deterrent for potential investors.

How many HOT Tokens are there?

At the time of writing, HOT has a circulating supply of 173.32B HOT tokens

The total supply of Holo (HOT) is 177,619,433,541.

Can HOT be mined?

HOT coins can’t be mined. The Holochain protocol uses neither a proof of work nor a proof of stake consensus algorithm but rather relies on users providing computational data to host decentralized applications. Users using their own data means that the energy consumption of the blockchain protocol is much lower than traditional blockchains.

The Holo price cannot be compared to something like a hash rate or mining difficulty, like Bitcoin for example. Peer coins aren’t typically mineable, and the Holochain ecosystem is optimized through a unique sharding mechanism that doesn’t require a proof of work consensus mechanism.

Additionally, users can participate in various DeFi products that allow them to earn yields on their HOT tokens. Some centralized exchanges allow users to earn yields from staking their HOT tokens.

What is the market cap of Holo (HOT)?

The market cap of Holo (HOT) is: total amount of coins in circulation x current market price of HOT.

Holo (HOT) Market Cap = 173.32B HOT x $0,002 = $347 million (85th largest market cap).

HOT is currently one of the top 100 cryptocurrencies by market capitalization and continues to be a project that is seeing rapid user adoption.

Biggest Competitors Of Holo (HOT)

Holochain has established itself as a crypto project that provides users with unique Solutions. The Holochain framework makes it easy for individuals to host hApps easily. These applications can be customized and either be private or public. Though this may seem like a novel creation, various other blockchain protocols are already implementing similar solutions.

Holo’s Biggest Competitors are:

• DFINITY
• Internet Computer (ICP)

What Are The Future Plans For Holo (HOT)?

The Holochain protocol looks to expand its user adoption, increase utility for the HOT and HoloFuel token, and expand its P2P ecosystem. The project has managed to garner a large crypto community with members from across the globe.

However, the project will need to remain innovative to claim a top spot in the crypto market. Holochain will most likely look to grow its current partnerships and improve its protocol wherever possible.

The future success of the project relies on the protocol’s ability to create a new utility for the HOT token, ensure that the protocol remains secure, and network participants that host hApps.

Pros And Cons Of Holo (HOT)

Pros:

• Addresses Current Blockchain Infrastructure Issues – The Holo protocol addresses various blockchain infrastructure issues with its unique consensus algorithm. The consensus algorithm is also much more energy-efficient than traditional blockchains like Bitcoin, which uses an energy-intensive proof of work consensus mechanism.
• Scalability – The Holochain protocol proves to be much more scalable than other competing blockchains. The protocol relies on users providing computational power to secure the network. Most other blockchains either rely on miners or nodes to secure their networks.
• Nominal Transaction Fees – The Holochain network has significantly lower fees than many other blockchain networks.
• Growing Ecosystem – The Holochain ecosystem has grown rapidly in recent months. The number of hApps in the ecosystem has increased substantially, and the number of network participants has reached an all-time high.

Cons:

• Huge Token Supply – The HOT token Supply is incredibly high when compared to other Blockchain protocols. The total supply of HOT tokens is 177 billion. Many individuals consider this to be the main concern in the Holochain protocol. Most individuals prefer investing in blockchain protocols with low token supply.
• Competitors – The blockchain sector is flourishing at the moment, with new crypto projects emerging into the market every day. The crypto space is incredibly competitive; new projects need to remain innovative to stay dominant in the market. Even though Holochain is a unique project that has quickly become popular and proved to be secure and efficient, there are still a significant number of competitors to the protocol.

  Many of these competitors have already amassed a massive community and provided users with similar solutions to Holo. Many individuals believe that the Holo protocol will need to implement innovative solutions to claim a top spot in the crypto market.