Scalability in has been a huge problem with both new and old blockchains based networks and it appears that a solution is in the offing through Holochain (HOT). HOT is currently one of the fastest growing coins in the market and its growth is not based the usual crypto hype but its real world use cases and the underlying technology.
However, Holochain is uniquely designed and has been termed as the blockchain outsider as it seeks to solve the industry’s problems without having its own blockchain. Processing large amounts of transactions has been elusive and the platform’s groundbreaking technology is set to make it possible. Once this is achieved, transactions will be fast and its cost will drastically drop.
What is Holochain Doing Right?
Transactions costs on platform like Bitcoin and Ethereum have been on the rise and this has slowed down their growth with users preferring altcoin that offer low or no transaction fees. With an agent centered approach, data on the Holochain platform is independently shared in line with set ground rules.
Unlike other systems, Holochain uses Distributed Hash Tables (DHT), a systems that offers storage in a decentralized environment. This is a technology used by many torrenting systems. This helps in fast file downloads because data is stored in different sources or hosts.
The system also comes with additional flexibility when compared to other blockchains where developer restrictions are so tight than changes in the system are only attained through software upgrades or hardforks. The pre-set rules or DNAs, decisions are made by participants in each dApp and does not affect the entire ecosystem and this is one of the reasons high profile partners are headed to Holochain.
Placing the dApp responsibility on developers has seen the development process becomes very smoothly. Unlike other platforms where the developers do not have much say, the freedom at Holochain has been the focal point that entices the dApp community to come onboard.
Behind the Scene Holochain Price Increase
Ethereum, which has been the center of dApps has seen its luster ebb away with more altcoins entering the same market and this has been a big lesson in the market. Its future appears to be bleak and Holochain is taking over the leadership. This has seen HOT market cap grow in two month to rank it among the top 50 valuable digital assets and headed to the top 20.
The recent support by Sobit exchange has seen the HOT value grow by more than 35%. The coin grew by over $50million in August and the last 24 hours have seen the market cap hit an all-time high of $164.3million sending the coin to rank at 46. The same period has seen the price gain 6.93% against the dollar to change hands at $0.001235.
Anticipated Holochain Partnerships
The highly prescient Holochain technology is attracting some of the high profile partnerships in the market and Mozilla could be one of these. Due to its torrenting capabilities, Holochain is the best fit for the Firefox browser creator. Such a partnership would be a huge boost for the steadily rising coin.
The CFO at Mozilla, Jim Cook feels the time has come for the giant to partner with a platform that is “decentralizing the power of blockchain without having its own blockchain.” Such a move with see market leader like Facebook, Amazon and Google lose a lot to Holochain peer-to-peer app.
The current HOT price appreciation is however a direct market correction and not spurred by hype but the solution the outfit is providing in the crypto space. There is ready demand for the solution and this has seen the coin demand increase as well and this has trickled down to the price growth.
Secondly, Holochain (HOT) team has been holding a series of meet-ups to popularize the coin and the value proposition appears to attract more adopters. The recent AMA that ended on September 4 has had a huge impact and has seen more investors buy into the idea.