Holochain (HOT) Overview: Time to ramp up the marketing side of the project

Holochain has experienced some peculiar price movement as of late. Peaking at $0.001489/23 sats on September 8th, the currency went into a downtrend which lasted throughout the month and ended with the values of $0.000956/15 satoshi which were reached on the 29th. The price stayed at 15 satoshi until October 4th when we saw another breakout which peaked at 0.001300/20 satoshi and was supported by $24 million of daily trade volume. The breakout was short lived as Holochain fell back to 15 satoshi just days later.

HOT can be purchased for $0.001011 USD (0.94% rise in the last 24 hours)/0.00000016 BTC (0.20% rise in the last 24 hours). This value is 50% lower than the currency’s all-time high of $0.00205572. Daily trade volume sits at $3,202,693 USD/509.32 BTC and comes mostly from Fatbtc (26%) and Hotbit (24%). With a market cap of $134,639,580, Holochain is currently the world’s 49th most valuable cryptocurrency.

After releasing an update which notified investors and fans that Holoports have entered production, the project has seemingly been dedicated to spreading the good word about themselves out and informing the public on how they can get involved with Holochain. Barcelona and New York hosted meet-ups where people were given an opportunity to chat about Holochain, its architecture and its future. Next meet-up was planned for October 16th in Mexico City. The mentioned hackathon was held on September 15th at ImpactHub in Amsterdam where half a dozen of Holochain’s core team engaged sixty participants (including engineers, hackers and open minds).

The team helped the attendees learn more about the project’s intentions and philosophy and together with them imagined what Holochain could do in the future. There were several dApp ideas presented during the hackathon, including:

  • Decentralized Social Network — An open protocol for social networks
  • Happy Virus — An engaging game with the goal of spreading challenges around that world to change your perspective
  • Cheeper — A P2P Ecosystem for shopping for sales on cross border purchases
  • Betting Prediction Market — Bet on outcome of major events

They also have a workshop planned in the near future. The event will happen in Pitsburgh, from Nov 2 to Nov 4th, and attendees will get to familiarize themselves with the coding paradigm and tools required to develop distributed applications on Holochain.

We also noticed a two-part series of articles written by Martin Banov, a contributor at bitrates.com, which dealt with the question what exactly Holochain is and how does it work. The first article, titled “Holo: Social DApps Leveraging Distributed Hash Tables as the Public Space”, described Holo as “a computational platform for distributed social applications that leverages the highly modular Holochain framework as the design space.” The second articleHolochain Part 2: How Ceptr Is Achieving What No Other Blockchain Was Able To” takes a closer look at Ceptr, the underlying architecture of Holo. The article also gives a couple examples of Holochain applications and discusses Holochain in the context of dApp-based projects like Ethereum and IOTA.

Overall Holochain has set some things in motion and are currently focusing on making sure that people start hearing more about those things. And that is the correct decision, increasing marketing efforts within reason is desirable and legit projects can also do it, it is not reserved exclusively for scammers and their shitcoins (we all know who they are).

Will the final consumer/developer be convinced enough to purchase/work on their product and join Holochain on the road towards creating the future of the internet? It remains to be seen.

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Dobrica Blagojevic
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