Friday, June 9, 2023

HOT After Patent Reports


Following a defensive patent last week, HOT-USD is up more than 40% in trade today.

Holo (CCC:HOT-USD) is up over 40% in intraday trade after securing a US patent for its P2P network concept. The HOT-USD holochain network doesn’t use cryptominers or a global ledger to confirm transactions, making them faster and more efficient.

The holochain, an open-source platform for creating peer-to-peer applications, powered by Holo. Holochain apps do away with the necessity for a middleman, such as a social media corporation or another service provider. Giving users entire ownership over their data.

The holochain is comparable to the blockchain that underpins Bitcoin and Ethereum (CCC:BTC-USD) (CCC:ETH-USD). Unlike the blockchain, however, they record the transactions on individual user nodes rather than a public ledger.

If someone paid someone with bitcoin, for example, the transaction would record on the bitcoin blockchain. Which is a public record of every succesful bitcoin transaction. In exchange for BTC-USD, a random computer on the bitcoin network would validate the addition to the blockchain.

Paying someone in Holo, however, would document on each of our personal computer nodes and validate by network peers. For validating the transaction, the peers receive Holo.

This disparity speeds up transactions and improves the network’s overall resiliency and scalability. In a news release, the corporation stated that the patent submission intends to be defensive.

Price Forecasts

First, TradingBeasts forecasts a price of 1.52 cents to 2.23 cents for Holo at the start of April. With the price of 1.786 cents at the conclusion of the month (about where the token traded today). The price of Holo (HOT) expects to be about 1.8 cents this summer.

Second, according to DigitalCoin, HOT-USD might reach 2.58 cents by the end of 2021, with Holo (HOT) prices expected to reach 2.96 cents in 2022, 3.57 cents in 2023, and 4.33 cents in 2024.

Finally, CoinPedia estimates that Holo will trade between 0.16 and 0.19 cents in January 2022. They forecast a price of 0.35 cents during the next five years.

Before the patent disclosure, Holo was soaring in mid-March on no apparent news. On March 15, there was an initial rise. This stabilized at roughly $0.007874, then quickly surged to $0.010415 and ultimately to $0.015827, its current price.

Despite its low value, this is 106 times more than the price of its initial coin offering (ICO). Since the beginning of February 2021, HOT-USD has increased by over 2,000 percent.

Vincent Sanchez
Vincent Sanchez
Vincent Sanchez currently writes articles for Cryptoconstellation. He completed his Msc in finance and had a successful career as an accountant. Vincent enjoys travelling and working out.

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