Should you buy Holochain? Should you hold it for the long term? If you are curious about the origins of Holochain, its mode of operation, and it's long-term and short term future, you have come to the right place. Traders have long used technical and algorithmic analysis to predict future price with some degree of accuracy. In this Holochain price prediction article, we'll evaluate Holochain using a combination of historical overview and technical price analysis.
Holochain is not strictly a standard blockchain in the mold of Bitcoin or Ethereum; rather, it uses a holistic form of distributed ledger technology. Standard blockchain technology is global in scope: here, each node in the network stores the same data, and the system relies on certain consensus algorithms (proof-of-work in bitcoin, proof-of-stake in others) to validate the data.
Holochain eschews the globalist stance, using neither algorithm to achieve consensus. In fact, it claims that absolute global consensus is neither possible nor necessary. Rather it is “agent-centric:” it gives each node an individualized fork, which can then be validated at a local or a regional level (i.e. among related parties).
With this radical reformulation, Holochain might have solved the most aggravating problem that has plagued blockchain ever since its emergence. This is the problem of scale. In standard blockchain, the data is distributed among innumerable nodes of the system, away from a central exchange or even a single owner.
The data is thus kept secure from the malice or the error of any individual node. However, as the blockchain computes and records an astounding number of transactions, as the amount of data increases exponentially, the chain's resulting congestion can bring down processing speed considerably.
This results in long waiting times and more transaction fees for validators. Several ingenious proposals have been brought forward to scale up throughput (number transactions per second) and thus reduce waste. One promising firm (Loopring) creates a secondary layer of blockchain atop the main chain, thus moving most of the computing tasks off-chain and using the main chain for recording purposes only (which requires less data).
Another firm (OMG Network) offers a slightly different solution: using the secondary layer to process the data in batches of transactions (rather than individually) and communicating the data collected to the main chain. Ethereum is scaled up in each case–its capacity increased a thousandfold– as the contact between the main chain and the child chain is made as rare and minimal as possible.
Holochain believes that the entire quest to increase global throughput is a misguided one. The point is to abandon the global framework altogether, not to enlarge it or scale it up. To explain why it should be so, consider a provocative analogy between blockchain and the English language. Where Holochain asks, is the English language stored?
There is no universal dictionary that stores the entirety of the English language as it changes from moment to moment. No single individual carries the entire language within himself. Rather the language takes shape in innumerable communities throughout the world, each using it for its own reason, each fostering a different aspect. There is just no reason to achieve a global consensus about the state of a particular language at a particular point in time.
To be sure, there can be a public ledger stored among a large number of nodes (just as there is such a thing as English spoken by “everyone”); at the same time, there can also be local or regional forks that have their own consensus mechanisms in place (just as there is such a thing as regional dialect or a professional jargon with specialized rules that only a few can understand); but the public chain, it must be clear, is not an absolute ledger that records every local detail.
Understood in this manner, Holochain is infinitely scalable and versatile, in the same way that the English language, in some sense, is. If one can envision this pluralist notion of blockchain, one comes to realize that there is no need to bother with several transactions per second at all, any more than there is a need to inquire about the number of emails sent over the internet per second.
Holochain is thus a remarkable new departure in blockchain technology. It is a revolutionary reformulation of what blockchain is and potentially can be. If Holochain succeeds in its mission, if it can deliver the infinitely scalable technology it promises, we will live to see common apps (think social media) being built on a decentralized network.
It is not just about exchanging currency anymore. The internet ownership will eventually be wrenched from the megacorporations (e.g., Facebook, Twitter) that now control it. People's data will be restored to its rightful owners, the people. As blockchain penetrates deeper into society in the coming years, more and more firms will come to embrace Holochain's holistic, pluralistic, and even democratic vision.
Holochain (HOT) Historical Price Analysis
The history of Holochain has been marked by volatile price swings. Holochain had a successful ICO in April 2018, with $0.0001 per token. The price skyrocketed to almost $0.10 per token in May of 2018, before crashing by the end of the year to $0.002. It has since then maintained the range between $0.005 and $0.003.
Current Price, Market Cap, & Supply Details
At the time of writing, Holochain is down 3.03% to $0.007. It has a market cap of 124 million, with 177.62 billion HOT tokens in existence.
Holochain (HOT) Future Price Forecast Predictions
Price prediction, as has already been intimated, is an uncertain task and requires much wisdom. It relies on a circumspect observation of historical data and a technically sophisticated projection of current trends onto the future. The following forecast has been made with just such a combination.
Short Term Forecast
H3: Long Term Forecast
*This price prediction is based on the data collected from various sources meant strictly for educational purposes only and not taken as investment advice. Users should do their own research before investing.
Holochain Price Prediction 2021
Holochain has been going through growing pains, and its development has been slower than expected. Even so, it is expected to hold steady throughout the year.
As per the forecast and algorithmic analysis, the price of 1 Holochain token (HOT) could potentially be around $0.000731 in 2021.
Holochain Price Prediction 2022
Current development hurdles are expected to be cleared by this date. As more and more developers embrace Holochain's vision, it will experience a sustained rise.
As per the forecast and algorithmic analysis, the price of 1 Holochain Token (HOT) could potentially be around $0.00529 in 2022.
Holochain Price Prediction 2025
This will probably be an inflection point for Holochain as it braces for global adoption. As blockchain takes over the world, the innovative and highly scalable platform will attract numerous users and developers. It is expected that Holochain will experience a sustained bull run.
As per the forecast and algorithmic analysis, the price of 1 Holochain Token (HOT) could potentially be around $0.00855 in 2025.
Is Holochain a Good Investment?
Holochain may change the face of the internet as we know it.
To give an example: currently, when we use the internet, we transmit our personal data (everything ranging from our photos to our interest as reflected in our choice of books, magazines, and shopping habits) through corporations such as Facebook, which gleefully exploit such data to make a profit at our expense.
Holochain will enable the creation of social media sites (among other applications) in which such middlemen no longer control our personal information, which will be distributed in encrypted form along with a decentralized network. This will, needless to say, prove highly popular among a large number of people exasperated by corporate misbehavior.
But will it succeed? Is Holochain capable of realizing this ambitious vision? Development delays have given us a reason to pause. So many months after the ICO, there is no alpha testnet in sight. On the bright side, Holochain boasts of a capable team (see below) and a passionate community of developers. If there is any reason to hope, this is it.
How to Buy Holochain
Holochain token is available in Binance, Bitrue, Bilaxy, and other exchanges. You must open an account in these exchanges, secure the account with two-factor authentication, and deposit funds in order to buy an equivalent amount of the token. Those funds, as yet, must be in other cryptocurrencies rather than fiat currency like USD. If you want to exchange fiat currency for crypto, you need to go to Coinbase, which provides this service.
More Information About Holochain
The Chief Architect of Holochain is David Brock, who has been working as an AI developer for a wide range of clients since 1986. He has a vast range of experience in p2p applications, as does Eric Harris Braun, Executive Engineer. There are also a dozen or so developers associated with the project.
Holochain promises to transcend the limitations of blockchain technology and make it more versatile. Blockchains such as Ethereum have been struggling with relatively slow and inefficient data processing times. Efforts to scale up the performance have been hampered by the need to keep a global ledger across innumerable nodes that record and validate each transaction in the blockchain.
Holochain, in an innovative move, does away with the global consensus requirements and allows validations in regional and local settings. While this makes the chain more scalable, it also enables the creations of a range of apps (not just currency exchange but social media as well) that have now been under corporate monopoly. This is a tremendous development and has the potential of creating an entirely new kind of internet. The question, however, is whether it will succeed in this venture. Progress has been slow, but there is, as yet, no reason to abandon hope.