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Why does patent approval make HOT really hot?
France recognises Holochain as emerging technology
What is Holochain? Innovation behind Holo
Holochain price analysis and analyst sentiment
Holochain (HOT) price prediction 2022 to 2029
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By Alexandra Pankratyeva
17:31, 16 February 2022 Updated
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Holochain, the innovative distributed app (dApp) framework, has been set back in its recovery from the latest crypto flash crash with the price of its token HOT falling again after having won back all of the losses. Today (16 February) it has a price of $0.0051 which represents a drop of 17% for the week.
Holochain experienced a massive surge in the first half of 2021 on gaining patent approval for its distributed hash table (the rrDHT) but has since has struggled to get beyond $0.015. Despite a couple of attempts to break out, most recently in November, today’s price is currently some 84% off its all time high in April.
What does this mean for the Holo price prediction for 2022 and beyond? Let’s dive into the details.
In March, Holo Limited announced that it had been granted a US patent for its Holochain distributed app framework, which triggered the biggest spike in the HOT price performance so far.
Holo’s key offering is that its network doesn’t rely on cryptominers or a global ledger for validation. Unlike the blockchain, transactions are logged on individual user nodes, which helps make transactions faster and increases the network’s scalability.
Apps powered by Holochain don’t need an intermediary, such as a social media network or other service host, which means that users have full control over their own data.
Holochain is an open-source project, so why has its parent company, Holo Limited, filed for a patent? Commenting on the topic, Holo’s creators said the move was defensive. They’re willing to share their innovative technology, but it must be within the context of the Holochain open-source framework, which will ensure the protection of end users.
– Van Lindberg, Taylor English
On 1 August, France’s Ministry of Culture announced a programme of “Transforming the cultural and creative industries through digital technology” in order to support innovative projects, mentioning Holochain among emerging technologies that could help the project.
Attention creative technologist!
The French government has announced a program to support cultural technologies and Holochain is mentioned as an emerging technology that creates important underlying structures for building.
Read more: https://t.co/O7gFfHLa1P
According to the European Commission’s research on “Scanning the European ecosystem of distributed ledger technologies for social and public good”:
Holo is a marketplace and distributed cloud hosting network. It allows ordinary web users to use peer-to-peer Holochain apps. It enables anyone with a computer to become an app host and receive payment for hosting distributed applications.
Holochain has seen increased adoption recently, with the marketplace welcoming a number of new Holochain applications (hApps). The Holochain framework is designed to provide developers with a cheaper and more scalable alternative to blockchains. The platform offers lower costs, has none of the usual consensus algorithms and ensures fast transaction finality thanks to its distributed hash table (DHT).
Aiming to build “a more human internet” and minimise corporate control, Holochain serves to give people control of their own data. At the same time, it connects and transacts with applications that meet application hosts’ needs without control from centralised entities.
Unlike traditional blockchains, Holochain does not require mining or staking. The energy needed to generate Holo tokens is small compared to blockchain. The platform is all about “individual source chains”, with independent nodes validated against each other. It enables hosts to operate numerous full nodes, even on a mobile device.
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This makes Holochain a greener solution in comparison to traditional blockchains. With no mining component involved in Holochain, the use of electricity is reduced, making it a more environmentally friendly solution.
The Holochain platform has been gradually gaining recognition. The Holo (HOT) coin reached its all-time high of $0.0315 on 5 April, according to CoinMarketCap. Will the HOT crypto price rise again in 2022? Let’s see what the analysts say.
Holo underwent an initial community offering in April 2018. Eventually, 177.6 billion HOT were minted, with 133.2 billion (75%) allocated for public sale and another 44.4 billion (25%) kept for the company and its team. As of 16 February there are 173 billion circulating according to CoinMarketCap.
The company planned that HOT tokens would be exchanged at a one-to-one ratio for HoloFuel tokens. HoloFuel is a Holochain-based currency, which will be mainly used by Holochain application (hApp) providers to pay Holo hosts for their services. HoloFuel has no supply limit – it’s controlled algorithmically, expanding and contracting according to demand. Holo believes this will help to make the price of its tokens relatively stable rather than subject to wild price swings.
Holo began to surge in mid-March 2021, before the patent announcement. Since the beginning of February, the HOT/USD price skyrocketed by more than 4,000%, rising from $0.0007 (as of 1 February) to $0.03 (as of 5 April). Until then, trade had been almost flat.
An upward movement returned in October but it proved to be short-lived and all of those gains are gone and the price of $0.0061 (16 February) is close to a 12 month low.
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Capital.com analyst Mikhail Karkhalev commented, “As I always say, any cryptocurrency project should be treated as a startup, disregarding the token, its value, and the ups and downs of the price. We should be interested in the project’s fundamentals:
What are the objectives of the project?
Who is it aimed for?
What problems does it solve?
What is already in place (MVPs, for example)?
What are the plans for the future? Etc.
Holochain is an innovative product, which is different from any other blockchain, and in general, it is difficult to call it a blockchain per se. Holochain, according to the founders, is a safer, more personalised and faster network than Ethereum. This is a high-profile statement and it is important to see whether the team will be able to implement what they have envisioned. During the ICO boom, there were many projects that positioned themselves as Ethereum killers, disruptive projects that would revolutionise all areas of economic and social life. However, 99% of them do not exist today.
“Does Holochain solve any problems? I doubt so. It’s more like the market is evolving and all projects bring something new to it, with the prospect of future use. For example, the IOTA network, unlike other blockchains, automatically scales at peak loads and is able to conduct even more transactions, which means that the load makes the IOTA network even faster. Scalability is an issue with bitcoin (BTC) and ethereum (ETH), but there are plenty of other scalable projects today,” he said.
“Holochain is certainly a project with an interesting concept and idea, but to become a breakthrough it needs to bring something of value to the industry, to develop some new direction, like DeFi or NFT. In my humble opinion, at the moment Holochain solves a problem which doesn’t exist on the market. Although that doesn’t stop it being promising and may find its place in the industry, I wouldn’t focus on hype and possible token growth in the near future. Keep an eye on the development of the project and invest in the fundamentals.”
To analyse Holochain’s future price, let’s take a look at some of the latest HOT coin price predictions (as of 16 February):
TradingBeasts forecasted Holo’s price to reach $0.0066 by the end of 2022 and move up to $0.0104 by the end of 2024.
DigitalCoin also shared a conservatively bullish view in its Holo crypto price prediction, expecting to average $0.007 in 2022 to $0.0081 in 2023, $0.01 in 2025 and eventually $0.021 in 2029.
Coinpedia’s Holochain (HOT/USD) forecast suggested that it could reach $0.024 by the end of 2022. Coinpedia’s analysts expected HOT could be trading at $0.1 in five years’ time.
While long-term cryptocurrency predictions can’t be called an exact science, Coinpedia suggested Holo might increase its adoption rate and succeed in the communication ecosystem. Positioned as the coin for common Internet users, Holochain could be in a good position for successful development within a five-year period.
Another analytical source, Wallet Investor, seemed to have few doubts as to whether Holo was a buy or sell. It gave a $0.012 price target in 12 months, considering HOT an “awesome” long-time investment. According to its Holo (HOT) price forecast, the cryptocurrency’s price could rise to $0.04 over a five-year period.
So, will Holochain’s price go up in 2022? It’s important to keep in mind that cryptocurrency markets remain extremely volatile, making it difficult to predict accurately what a coin’s price will be in a few hours, and even harder to give accurate long-term estimates. As such, analysts and online forecasting sites can get their predictions wrong.
We recommend that you always do your own research, and consider the latest market trends, news, technical and fundamental analysis, and expert opinion before making any investment decisions. Never invest more than you can afford to lose.
The Holochain platform positions itself as an alternative to traditional blockchains. In essence, Holochain allows dApps to do more with fewer resources. Holochain also solves the scalability issue by removing the need for each validator node on the network to have an entire copy of the blockchain. The key to its future will finding applications that solve real world challenges.
Some popular analytical sources, including Coinpedia, TradingBeasts, DigitalCoin and Walletinvestor, believed Holo could be a Buy within a one-year period and beyond. However, the provided price targets were rather conservative, ranging from $0.01 to $0.07 (the most bullish price target from Coinpedia). You should always conduct your own technical and fundamental analysis before making a decision to include HOT or any other cryptocurrency in your investment portfolio.
Holochain’s performance could suggest potential for further development and wide-spread adoption. However, $1 may be an overly optimistic ambition given that analysts from DigitalCoin, TradingBeasts and Wallet Investor have all provided lower price targets for the HOT token by the end of 2021.
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