HOLOCHAIN is HOT (Literally!!)

This is not a sponsored post, nor am I a financial adviser. Just a crypto enthusiast learning about the ecosystems of this beautiful crazy world of cryptocurrencies. And my pick of the week is HOLOCHAIN and its native token $HOT.

Assuming many of you are aware of this token or at least have heard about it in some tweet or in their comments which are typically followed by these rocket emojis 🚀🚀 Like this guy right here:

Or this dude here:

Irrespective of how you feel about this coin, $HOT seems to be doing really well. Sitting at the market cap of $1,306,055,333. The coin at the time of ICO was valued at $0.0001 which currently is trading at $0.0177, that’s a 17600% increase. Some would however argue that $HOT is still quite undervalued. So lets look at what this project is and how it may all play out by the end of 2021 and onwards.

HOLOCHAIN from its whitepaper, is a scalable, agent-centric distributed computing platform. This is positioned as against the data centric nature of Bitcoin and Ethereum. The problem this project is trying to solve is that of SCALABILITY by addressing the root datacentric assumptions of the blockchain approach. Now lets quickly get the boring stuff out of the way:

The whitepaper describes a Holochain application consisting of a network of agents maintaining a unique source chain of their transactions, paired with a shared space implemented as a validating, monotonic, sharded, distributed hash table (DHT) where every node enforces validation rules on that data in the DHT as well as providing provenance of data from the source chains where it originated. Lets break some of these terms down and understand what they mean:

• Agent centricity: An approach allowing nodes (or agents) to share independently.
• Sharding: A database partitioning technique used with the purpose of scalability, enabling them to process more transactions per second
• Distributed hash table(DHT): A form of a distributed database that can store and retrieve information associated with a key in a network of peer nodes that can join and leave the network at any time.

Great! Now for all the interesting stuff that’s been happening with Holochain. While the original concept was published in their whitepaper released back in 2018, however, in the September of 2020, this happened:

Today, we’re extremely happy to announce a new Holochain. Holochain RSM has a completely refactored state model (RSM) and represents a deep rethinking of some key architectural choices as compared to the previous version, which we now refer to as Holochain Redux. With Holochain RSM we’ve gone back to basics and have simplified the code base to achieve a quantum leap in performance.

Ever since the release of this new model, the services were much faster, requiring much less lines of code to be written. The future roadmap can be found on their official blog here which looks something like this:

They appear to be in their 3rd and final stage and by the looks of it they’re ready to roll. They’ve just launched the first Holochain P2P app Elemental Chat for their hosts on 10th February 2021 aiding to the price action of their native token. While the application is still a proof of concept but it proves to be something more, illustrating the differences and potential of Holochain as compared to blockchain.

There are several projects planned to be launched on Holochain RSM such as RedGrid, hummHive, Acorn, Bhive, Kizuna and CRISPR. Of these Kizuna, a P2P distributed secure messaging app written on Holochain, has even kicked off their crowdfunding campaign. They also recently decided to shift the HoloFuel application up on their roadmap.

Now for the real question: Will $HOT explode in 2021? Well, the straight answer is “They’re definitely moving forward”. Surely not a project sitting around waiting on its investors to tweet. They’re regular in publishing their monthly updates for their community, they’re releasing applications that complements their platform and are even quite active on social media.

If you’re invested in their project, there are a couple of things you could do other than just speculate and tweet. You can read their monthly updates here or check out their forum here and better yet, be an active user of their products and community, walk the talk if you will.

As a great man once said:

When life gives you lemons. Sell them on Binance!

So that was my take on HOLOCHAIN. Thanks for sticking around. You can find me here on twitter. I talk about videogames, blockchains and cryptocurrencies.