Burning Up – What is HOT Crypto?

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 Burning Up – What is HOT Crypto?
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Highlights

  • Holochain’s native token – HOT – has started September off nicely rising by 22% since September 1, 2021
  • Since July 22, HOT has risen around 184%
  • Holochain creates an agent-centric approach by putting the user at the center of the computer-using experience

Holochain’s native token – HOT – has started September off nicely rising by 22% since September 1, 2021.

The price of HOT was trading at around US$0.0128 on September 6, rising from approximately $US0.0105 on September 1, according to CoinGecko.

This recent rise follows an impressive six-week period for HOT, which saw it rise from US$0.0045 where it crashed to on July 22, 2021 after hitting its all-time high of nearly US$0.03 in April.  Since July 22, HOT has risen around 180%.

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Burning UP – What is HOT Crypto ?

What is Holochain?

Holochain – launched in 2020 - is an open-source framework for creating secure and quick peer-to-peer applications.

One of Holochain’s unique features is its ability to connect user devices directly to each other in secure networks. This gives users the autonomy and availability of locally installed software as well as the power and redundancy of cloud software. This means app developers no longer have to pay for cloud hosting. This feature is a part of Holochain’s overall philosophy, which emphasises “individual agency”

As Holochain’s official website describes, it takes an agent-centric approach, by putting the user at the center of their computing experience.

How Holochain Works?

It creates self-owned identities and data when apps run on the user’s device.  Open programming interfaces ensure the user always has access, while consent-based permission control protects from unauthorised use.

While crypto networks run on blockchain technology, Holochain aims to be an alternative to blockchain. To function, it must deal with the data that blockchains depend on to run. This is where the agent-centric idea falls into place. The agent manages the data and this, in turn, helps the network deal with the scalability problems that have plagued so many other blockchains. Most famously, users of Ethereum -the second oldest and largest crypto blockchain – are eagerly awaiting for Ethereum 2.0.

HOT’s Tie To Bitcoin 

HOT’s price performance has historically been closely tied to that of Bitcoin. This has seen HOT’s price rise and fall with that of the working largest cryptocurrency.

Despite a slow start, 2021 has been the first time HOT’s price has started to make a significant break. Unfortunately, due to its price  tie to Bitcoin, the record levels it reached in April, 2021 were soon dashed by Bitcoin’s crash in late April and throughout May and June.

Image source: © Steveheap | Megapixl.com

Despite its unique approach it’s difficult to conclude that HOT’s most recent climb is of its own volition as opposed to once again being tied to Bitcoin’s recent recovery. Bitcoin recently went past the US$50,000 mark for the first time in months.

HOT’s continuing bullish streak will certainly be put to the test if Bitcoin’s price plummets once again.

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