Holochain (HOT) - a network and cryptocurrency competing with blockchain

We are used to the fact that all cryptocurrency projects are based on blockchain technology. It turns out that not all of them, or at least not all of them. One example is the decentralized Holo network and the HOT (Holochain) token. This is an example of a completely new approach to cryptocurrencies proposed by a Spanish company.

We continue the cycle of the Forex Club portal, in which we describe the largest, highest-valued, most controversial, most popular and interesting cryptocurrency projects from around the world. Today it's time for Holochain, which is something that happens very rarely in the world of cryptocurrencies - a real alternative to blockchain.

A new idea for a decentralized network

Holochain is a network of distributed applications, but it is not based on blockchain technology, but on architecture a distributed hash table (DHT - English: distributed hash table). This is a kind of alternative to blockchain, proposed by the Holo company, which comes from Spain.

Holochain is supposed to be a network that works extremely quickly and at the same time cheaply. It is supposed to be a place where not only applications will work, but also cryptocurrencies created on the basis of this network.

How is holochain different from blockchain

Both networks are decentralized. Both nodes also work, but in the Holo platform they are in the form of hardware. This is called HoloPorts in three versions that can be purchased for $ 119, $ 499 and $ 1099. They are connected to the network to create the host, that is, the full network node. In the blockchain, on the other hand, people who have the most cryptocurrency units or a certain number of them are full nodes. HoloPorts make money by sharing space on their drives. They also benefit from transaction fees - up to a maximum of 1% of the transaction value. HOT utility tokens, created on a standard basis, work in the Holo Ethereum. 177 were aired during the ICO.

Holochain allows large files to accumulate and does not require all nodes to confirm. The ultimate network plan is to create a decentralized internet.

Fast ICO Holochain

The Holochain project is relatively young. The fundraising began in early 2018. However, it was not a classic ICO, but ordinary crowdfunding on the IndieGoGo platform. The target was set at 200 USD. Anyone interested could pay $ 399 for the HoloPort. The full amount was raised in 78 hours and then repeatedly exceeded the target, with the total collection amounting to $ 1 million.

Then, digital tokens were put up for sale for a month. On April 28, 2018, the fundraiser was summed up and it was a complete success. Thanks to the collection of 30 thousand ETH worth USD 20 million for 133,2 million HOT tokens.

Experts praised primarily the organization of the collection. Everyone interested had to pass identity verification so that no one could buy more than 10% of the tokens. In this way, the project was protected against monopolization. The ICO received very positive reviews also due to the great contact with investors, model transparency and the prevention of decentralization.

Holo Quotation (HOT)

HOT tokens are currently traded on 26 cryptocurrency exchanges around the world. As of 20.07.2020/0,0007/165,5, each of them costs 116 USD. There are currently over XNUMX billion in circulation. tokens, which translates into a capitalization of almost USD XNUMX million.

The peak of trading took place on May 29, 2019, when each HOT token was paid 0,002629 USD. At that time, the project capitalization reached almost USD 300 million.