Where Holochain’s HOT Token is Accepted as Payment
HOT is the utility token powering the Holochain Design network which aims to be the Airbnb of application hosting. It provides inexpensive cloud hosting and, apparently, it’s “10,000 times” cheaper than a traditional blockchain. It functions as a commerce coin as it is supported by crypto payment processors, which allows nearly 200 businesses to accept it — from Top Techs California to Sublime Shop in Malta.
Who accepts Holo…
Are you an Entrepreneur, freelancer, or manager of a business accepting cryptocurrency?
Should you buy HOT?
Or accept it as payment at your business? I see very little reason to be optimistic about Holochain and HOT, I couldn’t find anything interesting or attractive about the project. If someone wanted to pay you with this cryptocurrency, do accept it but I see no reason to hodl HOT. What makes Holo hot…
It uses an “agent-centric” hashing algorithm as opposed to a traditional blockchain (it’s funny to me that blockchain might even be thought of as traditional). It does not require hosting or mining, making it especially ecologically friendly. When sharding is implemented it will potentially be one of the most scalable networks.
It was founded by two veteran contract coders, Arthur Brock and Eric Harris-Braun who lead a team with 34 combined years of experience. They initially raised over $20 million in an ICO.
In the Holochain network, users get paid to host applications on their computers in HoloFuel. So let’s say that you wanted to launch the newest, hottest dating app but you think that Jeff Bezos is rich enough already and you don’t want to host your app with Amazon web services, you could instead pay Holochain and then your dating app is going to end up being hosted on some random guy’s laptop in Asia while he’s sleeping. If you find that premise appealing maybe you should hold some HOT.
But…
Since its inception in 2018, its price was quite flat up until a meteoric run-up in 2021 to an all-time high price of 2 cents, since then its price has fallen well below one cent. It seems quite unlikely that it will ever be worth more than a dollar, its price seems destined to languish in an emotionally “worthless” sub-one-cent range, making it unattractive as a commerce coin.
The longer you’re in business the more you see that unremarkable brands and projects with cool names can attain a modicum of success. Holochain and the HOT token are undeniably catchy branding, but even with them they just barely make it into CoinMarketCap top 100 list.
They don’t seem real interested in small businesses that might accept HOT as payment. Like so many crypto projects Holo appears to be focused on being a “platform” for people to build “platforms,” to build more “platforms”… It’s just going to be platforms all the way down!
About Holochain
Apparently, its algorithmic mechanism is inspired by the way real holograms work — that’s kinda cool!
We present a scalable, agent-centric distributed computing platform. We use a formalism to characterize distributed systems, show how it applies to some existing distributed systems, and demonstrate the benefits of shifting from a data-centric to an agent-centric model.
