Connect with us

Published

on

Holo (HOT) is an open-source framework for creating distributed peer-to-peer applications. It operates as a cloud hosting market for Dapps. The network is unique in that it incorporates an agent-centric to the market. Anyone can leverage inexpensive cloud hosting services and create robust Dapps using Holochain. As such, the developers behind the concept seek to bring the benefits of distributed apps to anyone with a web browser. In this way, Holo provides a combination of services that both traditional and blockchain applications lack.

What Problems Does Holo (HOT) Attempt to Fix?

Holo was built from the ground up to tackle multiple issues currently facing the market. For one, it eliminates centralization. The unique technical structure of the network ensures a balance is maintained between freedom and accountability for users. This concept of mutual sovereignty enables the network to remain secure while also providing a plethora of services to users.

Holo Features

Holo Features

Energy Consumption

Holo introduces some proprietary technology to remain sustainable. Unlike the competition, Holo doesn’t require mining or staking. Instead, the network integrates a new sustainable economic model that provides a more efficient alternative to the current status quo.

Lack of accountability

Holo provides users and chain hosts with true accountability. Each piece of data has a cryptographic audit trail connected to its author. Additionally, every user helps enforce shared application rules. This strategy enables the network to quickly identify and remove bad actors.

Benefits of Holo (HOT)

Holo provides a lot of benefits to users. For one, the network offers self-owned data, a distributed database, and peer accountability on another level. Here are some other features and benefits that make Holo a project worth watching.

Scalable

Holo integrates sharding to ensure that it remains scalable regardless of the size of the network. Sharding is a storage method that breaks data up into smaller portions called shards. This strategy enables a blockchain to obtain near-unlimited scalability. As such, Holo is reliable and fast compared to the competition.

Open Programming Interfaces

Blockchain developers enjoy more flexibility and a streamlined creative process. The open programming interface enables developers to create new and exciting Dapps with ease. Best of all, users always have access to their data due to Holo’s technical characteristics.

Holo - Homepage

Holo – Homepage

Consent-Based Permission Control

The network introduces advanced content-based permissions. This strategy enables developers to create a wide selection of blockchains. Additionally, it protects Holo networks from unauthorized use.

Secure

Each Holochain application creates its own encrypted peer-to-peer network. These networks leverage advanced blockchain security protocols to ensure that they remain valid and secure. Holo chain has never been hacked. Today, it offers services to a large user base that continues to expand.

How Does  Holo (HOT)  Work

Holo integrates an innovative P2P architecture that enables applications to connect user devices directly to each other via secure networks. These networks operate as individual source chains. These chains contain independent nodes that are validated against each other. Best of all, since all applications run on your device, the network is able to create self-owned identities and data in a responsive manner.

DNA

When a user creates a new network it’s known as DNA. A DNA is officially launched whenever a user application is installed on the Halochain runtime. Notably, all DNAs contain vital network information including functions for accessing, writing, and validating data. The DNA also describes how peers connect within the protocol.

After a new DNA enters the network, the system then creates a source chain. This is where all the data your DNA creates will be stored. This step adds an extra layer of security as all transactions are signed by a private key. Additionally, the system will also require the host to provide evidence they have seen and agree to follow all the rules set in place.

Optional Membrane Proof

Network creators may elect to integrate an optional membrane proof into their chain. These are the network’s entry requirement. This data can include items such as Invite codes, proof of dues, vouchers, and more. In this way, you can ensure only the right users gain access to your network.

Agent ID

The agent ID serves as a public compliment to a private key. It acts as a unique identifier within the network. You can use your agent id to complete tasks such as verifying signatures and more.

DHT Shard

Every network participant holds a DHT shard. These shards contain random potions of public data that have been shared across the network. The technical aspects of sharded networks make them much faster than blockchains that employ other methods of data storage.

Individual Agency

Every user runs a copy of the Holo app when they participate in Holo networks. The system is designed to ensure that your identity and data remain on your machine. The data you create is then stored in your journal and verified using a unique key. This approach ensures that every individual agency acts accordingly.

Cryptographic Autonomy License

The Cryptographic Autonomy License holds the rights of end-users in addition to the developer stakeholders. Users must agree to the terms of this agreement to access the features and services of Holochain or its sub-networks.

Holo (HOT) - Homepage

Holo (HOT) – Homepage

Shared Rules

The shared rules protocol is used to identify bad actors within the network. You can think of this protocol as a social contract between users and the network. If a user violates this agreement, they can be expelled from the network indefinitely.

Holochain Foundation

The Holochain Foundation operates as a global community of individuals and projects. The goal of this non-profit is to promote the further expansion and adoption of Holo products and services. Unlike the competition, the Holochain Foundation has its own revenue-generating corporation called Holo Ltd.

Holo Ltd

The main purpose of Holo Ltd is to fund the expansion of the Holochain Foundation. This unique approach provides the network with access to funding and direct market data.

How to Buy Holo (HOT)

Both of these cryptocurrencies are extremely popular, we recommend the best exchanges based on your jurisdiction.

BinanceBest for Australia, Canada, Singapore, UK, and most of the world. USA residents cannot purchase HOT here.  Use Discount Code: EE59L0QP for 10% cashback off all trading fees.

Gate.io Best exchange for USA residents.

Holo (HOT) – Bringing the Power of Decentralization to the Market in New Ways

The Holo concept is unique in many ways. Developers are sure to enjoy the limitless storage capabilities and responsiveness of the network due to its sharded design. Additionally, the added features and permissions enable developers to build complex and robust Dapp ecosystems with ease. For these reasons, Holo is well-positioned in the market.

Naabiae Nenu-B is a Medical Health Student and an SEO Specialist dedicated to flushing the web off fake news and scam scandals. He aims at being "Africa's Best Leak and Review Blogger" and that's the unwavering stand of Xycinews Media.

Advertisement
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Fx Analysis

Canada’s Crypto Landscape Today

Published

on

The Crypto Landscape Today

The Canadian cryptocurrency market is currently one of the most advanced in the world, despite crypto still only being regarded as an emerging technology.

The Canadian government has proactively participated in formulating regulations to govern the market’s operations and protect its investing citizens. As a result, it appears that the future of cryptocurrency in Canada is bright, among both investors and miners.

The country is spearheading the ascent of cryptocurrencies in both domestic and foreign assets. As a result, Canada became the first country globally to pass a law on digital currencies, which inevitably made a real statement in the cryptocurrency space.

As cryptocurrency prices fluctuate and are expected to rise over the coming months, many more Canadians are looking to buy and invest in Bitcoin through platforms such as MyBTC.ca.

According to Statista, Bitcoin is still by far the leading cryptocurrency for Canadians to invest in with Ethereum, Ripple, and Litecon some way behind. Bitcoin is also more widely accepted in Canada, with all the big cities accepting cryptocurrency to some capacity in exchange for goods and services.

The Canadian cities that notably appear more crypto-friendly are Vancouver, Toronto, and Ottawa with a wide range of businesses accepting cryptocurrencies in each of these cities. In their role as regulators, the Canadian government remains optimistic about crypto and actively invests in research projects for leveraging the technology.

Conducive Environment for Crypto

Canada, unlike most countries, generally has a friendlier approach with certain policies towards crypto. Its policies encourage individuals to participate in crypto-related activities and these have been a key driver for Canada’s innovation in the crypto sector.

Rather than let crypto become the wild wild west, Canada’s active involvement in the sector brings a sense of orderliness to this fast-expanding industry. While other countries outrightly outlaw or impose strict regulations against crypto operations, Canada’s friendlier stance makes the country stand out from the crowd internationally in a unique way.

Primarily, cryptocurrencies are regulated as securities, with the regulators striving to protect the public. The Canadian Securities Administrators (CSA) frequently issue directives on cryptocurrency operations across Canada. In one of the latest notices, CSA and the Investment Industry Regulatory Organization of Canada (IIROC) outlined the steps for crypto-asset trading platforms (CTPs) to comply with relevant regulations.

The Ontario Securities Commission (OSC) also partners with fintech firms to ensure all digital asset innovations remain compliant with the country’s regulations. In a recent case, the OSC went on an offensive against cryptocurrency exchanges that allegedly failed to comply with securities law. This onslaught saw Binance Exchange exit the Ontario market.

Canada’s Crypto Regulatory Framework

Surprisingly, not many countries have been as quick and proactive as Canada in setting up regulatory frameworks for the crypto sector. For many investors, regulating cryptocurrency operations is critical as the technology it features favors its use in facilitating illegal or malicious financial transactions.

Some crypto proponents and developers detest an overly regulated sector that may hurt crypto adoption and innovation in the industry. Striking a balance between both situations is a significant step for Canada in ensuring a thriving and secure crypto environment. So, how is Canada working towards this goal?

Canada passed the Proceeds of Crime (Money Laundering) and Terrorist Financing Act (PCMLTFA) in 2014 (later amended in 2019) to set up a framework for handling virtual currencies. This act treats entities dealing with cryptocurrencies as money service businesses (MSBs). Like MSBs dealing with fiat currencies, crypto MSBs are subject to keeping records, verifying procedures, and reporting suspicious transactions. The MSBs must also register with the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC).

This legislation adds a layer of security to the crypto environment in Canada by pushing out non-compliant operators from the market. Consequently, investors are less likely to fall victim to illicit activities prevalent in crypto markets. What’s more, a confident public will invest more in crypto and drive adoption and crypto use cases. This new industry, which is speculative, has the potential to grow and have crypto as a competing store of value against existing methods for storing value.

Bank of Canada’s Position

The Bank of Canada has often stated it has no plans of issuing a Central Bank Digital Currency (CBDC) as long as cash usage hasn’t fallen significantly.

The COVID-19 pandemic saw an uptake of cryptocurrencies and this triggered the Bank of Canada to accelerate its work on a CBDC. Despite a skeptic attitude towards cryptocurrencies, in an address, the bank’s deputy governor regards stablecoins as having a higher potential for adoption. In creating its CBDC, the bank has stated that it considers the environmental impacts to ensure the currencies operate with excellent energy efficiency.

The bank has also called out risks associated with stablecoins, stating that if widely adopted, they could disrupt the bank’s monetary policy mechanisms. So, the bank prefers that stablecoins in the Canadian crypto market be backed by the Canadian dollar. Considering the Bank of Canada’s position and the potential of crypto to render such institutions obsolete, it’s rather stern stance on cryptocurrencies is expected. However, unlike many other central banks worldwide, the bank’s stance is more welcoming.

Bitcoin ETFs and other ETFs

A cryptocurrency exchange-traded fund (ETF) is a type of security that tracks or mimics the price of a digital currency and can be traded on a stock exchange.

Most mainstream investors experience difficulty investing in crypto, which goes through multiple security procedures and crypto exchanges to hold the cryptocurrencies. Therefore, an ETF simplifies cryptocurrency trading for investors. Canada became the first country to launch a Bitcoin ETF in North America with OSC’s approval of Purpose Bitcoin ETF (BTCC) at the start of 2021. The ETF is traded on the Toronto Stock Exchange (TSX). Others include Evolve Bitcoin ETF (EBIT) and CI Galaxy Bitcoin ETF (BTCX), all trading on TSX.

Apart from BTC ETFs, Canada also has ETFs for Etheruem’s Ether (ETH). ETH ETFs, like BTC, increase investors’ exposure to ETH. The top ETH ETFs are issued by Purpose Investments, CI Global Asset Management, and Evolve. The presence of ETFs for Canadians illustrates the strides taken by Canadian regulators in embracing the sector.

Big NFT Market Player

The top-performing product in the blockchain sector this year is the non-fungible token, or NFT. These unique digital collectibles have expanded the possibilities for blockchain applications in distributing physical or digital items like artwork or music.

One of the top NFT collections during the NFT craze was the NBA Top Shot. The collection comprises tokenized video highlights of memorable moments from NBA games. The NFT studio behind NBA Top Shot is Vancouver-based Dapper Labs. The studio is also the creator of CryptoKitties, the virtual cat collectibles that sparked the first NFT craze back in 2017.

The NFT space has gained significant input from Canada’s innovative developers. This innovation can be attributed partly to the comparably favorable environment for crypto in the country.

Canada’s Cryptocurrency Mining

The latest fall in crypto prices this year has been partly due to concerns about the environmental impact of cryptocurrency mining. China previously accounted for the largest portion of Bitcoin mining worldwide, but the country has recently started to crack down on miners which has impacted the overall crypto price.

The majority of these miners are now looking for new locations to set up shop. In North American, Canada is a top destination for cryptocurrency mining firms as more miners look to relocate to a country in North America that is more crypto-friendly.

Canada boasts less-hostile policies, affordable power rates, and a favorable climate. Since the mining hardware requires constant cooling, Canada’s cool weather slightly eases the cooling energy consumption.

During the crackdown, Canada’s BTC mining firms have experienced a jump in their overall output. Publicly traded BTC mining firm, Bitfarms, reported a 50% jump in BTC mined in one month alone. Bitfarms deploys hydroelectric power for its mining activities, which makes up 99% renewable energy for its operations. As the push for sustainability in the crypto sector continues, Bitfarms’ output will likely increase throughout the year.

Canada’s commitment to sustainability has seen the government invest in renewable energy sources. This will be a product in high demand by many cryptocurrency mining companies in the future.

Learning from the Not So Perfect

Canada’s crypto sector hasn’t been all perfect and the industry has had to learn from harsh past experiences.

One such event was when Canadian crypto exchange QuadrigaCX’s founder Gerald Cotten reportedly died in India. The death resulted in a US $190 million loss of users’ assets as Cotten had kept the assets in a cold (offline) storage, and only he knew the keys. A similar case was with Einstein Exchange, where users reported they could not access their assets, worth millions of dollars.

Both cases occurred in the same year and led to tighter measures to protect users against similar events in the future. Regulators have put up stricter policies, cracking down on non-compliant firms.

Canada’s crypto market has evolved since then, with exchanges deploying multi-sig wallets to prevent QuadrigaCX-like losses. In June 2021, OSC listed one of the world’s top five exchanges by trading volume, Bybit, as operating an unregistered crypto asset trading platform.

The Future of Crypto in Canada

The crypto landscape in Canada has a bright future given the more structured regulations regarding the sector’s operations.

Canada’s innovation in the industry has put it up among the top-performing environments for the crypto sectors worldwide. The crypto industry is still emerging, and regulatory frameworks must constantly adapt favorably to the market needs if Canada is to remain a top crypto destination.

The future impact of 5G in Canada will likely be transformative for crypto too. The execution of 5G will increase styles of administration influencing how mining is assembled and what Defi applications can be developed.

At the moment, ensuring the sustainability of cryptocurrency operations is among the top issues Canada will have to handle. As challenges evolve, Canada’s swift response will come in handy to establish a solid future for crypto in the country.

Continue Reading

Fx Analysis

Twitter CEO Reveals What Inspires Him to Support Bitcoin

Published

on

Jack Dorsey, the CEO of Square and Twitter, is one of several billionaires that supports and advocates for the crypto industry. In the past, Dorsey has shown signs of support by adding a Bitcoin emoji on Twitter, using Square to launch a Bitcoin hardware wallet, and he even made plans to move to Africa and work with its IT experts to make use of crypto and other technologies to start the process that will transform the continent.

This time, however, he decided to reveal some details about things regarding Bitcoin that are making him so supportive of the world’s largest cryptocurrency.

Dorsey speaks of Bitcoin during The B Word conference

Dorsey spoke about Bitcoin during a popular crypto conference known as The B Word. This is a well-known event hosted by the Crypto Council for Innovation, and it has attracted many influential speakers.

Dorsey said that the thing that really drove his thinking — the thing that drives his passion behind it — is a single question – “if the internet has a chance to get a native currency, what would that be?”

For Dorsey, the answer can only be Bitcoin. Bitcoin’s principles, resilience, use cases (such as helping the unbanked and supporting entire communities) are what makes him believe in Bitcoin and its potential. But, above all, Dorsey said that what shaped his view of Bitcoin and what made him so supportive of it is its network and its community. In fact, he said that the crypto community reminds him of the early days of the internet.

Why is Dorsey so supportive of Bitcoin?

This is also rather easy to see and understand. Many still remember the early days of the internet quite well, where talented developers were coming together to make this new thing a place that will offer an easy way for people around the world to connect, share ideas, information, and work for the betterment of the society as a whole. A similar thing is now happening with crypto, only this time, it is all about using the power of the community to help those who are financially struggling.

Billions of people around the world live in poverty, abandoned by banks just because they don’t offer institutions the ability to earn from them. The crypto industry is about empowering people like that. This is one of the reasons why Satoshi Nakamoto created Bitcoin in the first place, and this single goal has remained in the heart of the crypto industry to this day. Empowering people who do not wish to depend on the banks is what allowed DeFi to explode last year while empowering artists and collectors alike is what allowed NFTs to blow up in 2021.

This single goal is still pushing the industry forward, and Dorsey is completely fascinated by it. He said it himself, explaining that “It’s deeply principled, it’s weird as hell, it’s always evolving. It just reminded me of the internet as a kid.”

It is safe to say that Dorsey believes in the future of crypto, and he has high hopes for it. He even hopes that cryptocurrencies could help create world peace. He is aware that this won’t happen overnight — it is a long-term mission, but he still thinks it is possible.

He has been saying similar things for years now. One example is the Bitcoin 2021 Conference that took place only last month when he said that Bitcoin can change everything and that he honestly doesn’t think there is anything more important in his lifetime to work on. It is this thinking that inspired him to use Square to buy $50 million in BTC last year. He even announced that Square is continuing to push deeper into the crypto industry by creating a new business that will revolve around using Bitcoin to offer decentralized finance services.

Continue Reading

Fx Analysis

Chart Art: Trend Continuation Setups on USD/CAD and GBP/JPY

Published

on

Ready to start catching pips this week?

I’ve got a treat for ya as we explore not one, but TWO swing trend plays today.

Check them out!

GBP/JPY 4-Hour Forex Chart
GBP/JPY 4-Hour Forex Chart

I know we literally just talked about GBP/JPY’s downtrend last Friday but I thought y’all might want to know that the pound has hit a key resistance zone.

I’m talkin’ about the channel resistance, yo! Guppy has seen its first bearish candlestick after consolidating at the 152.00 major psychological area and 100 SMA.

Is a GBP/JPY a sell? Selling at current prices is a good bet if you think that the bearish divergence on the 4-hour chart will lead to GBP/JPY extending its months-long downtrend.

If the yen cross starts giving weird volatile moves, though, then you should be ready for a breakout that would take GBP/JPY to the 200 SMA or the 153.50 and 154.00 previous areas of interest.

USD/CAD 4-Hour Forex Chart
USD/CAD 4-Hour Forex Chart

Fib traders gather ’round! USD/CAD is consolidating around the 1.2575 zone that lines up with the 61.8% Fib retracement of July’s main upswing.

And if that’s not enough to get you writing trading plans, then you should know that USD/CAD’s current levels are also near the 4-hour chart’s 100 SMA and a trend line support that has been around since the start of June.

Is USD/CAD a good buy? Dollar bulls can buy at current levels and target July’s highs for a sweet risk ratio. Of course, the more conservative buyers can also load up on them longs as soon as we see a couple more bullish candlesticks.

If you’re not convinced that the dollar can extend its uptrend against the Loonie, then you can also wait for a clear break below the trend line support and then target previous areas of interest like 1.2440 or 1.2325.

Continue Reading

Trending

  • bitcoinBitcoin (BTC) $ 36,997.00
  • ethereumEthereum (ETH) $ 2,174.75
  • tetherTether (USDT) $ 1.00
  • binance-coinBinance Coin (BNB) $ 302.12
  • cardanoCardano (ADA) $ 1.23
  • xrpXRP (XRP) $ 0.617971
  • usd-coinUSD Coin (USDC) $ 1.00
  • dogecoinDogecoin (DOGE) $ 0.199209
  • polkadotPolkadot (DOT) $ 13.64
  • binance-usdBinance USD (BUSD) $ 0.997889
  • uniswapUniswap (UNI) $ 18.11
  • bitcoin-cashBitcoin Cash (BCH) $ 471.23
  • litecoinLitecoin (LTC) $ 129.16
  • chainlinkChainlink (LINK) $ 17.79
  • solanaSolana (SOL) $ 27.77
  • wrapped-bitcoinWrapped Bitcoin (WBTC) $ 36,987.00
  • matic-networkPolygon (MATIC) $ 0.964538
  • ethereum-classicEthereum Classic (ETC) $ 46.71
  • stellarStellar (XLM) $ 0.253732
  • theta-tokenTheta Network (THETA) $ 5.39
  • daiDai (DAI) $ 1.00
  • internet-computerInternet Computer (ICP) $ 37.89
  • vechainVeChain (VET) $ 0.075859
  • compound-usd-coincUSDC (CUSDC) $ 0.022080
  • cdaicDAI (CDAI) $ 0.021527
  • filecoinFilecoin (FIL) $ 48.03
  • okbOKB (OKB) $ 15.38
  • tronTRON (TRX) $ 0.057621
  • moneroMonero (XMR) $ 217.52
  • aaveAave (AAVE) $ 294.21
  • eosEOS (EOS) $ 3.64
  • terra-lunaTerra (LUNA) $ 8.21
  • compound-ethercETH (CETH) $ 43.63
  • cosmosCosmos (ATOM) $ 11.20
  • ftx-tokenFTX Token (FTT) $ 28.91
  • amp-tokenAmp (AMP) $ 0.063828
  • shiba-inuShiba Inu (SHIB) $ 0.000006
  • crypto-com-chainCrypto.com Coin (CRO) $ 0.116357
  • pancakeswap-tokenPancakeSwap (CAKE) $ 14.09
  • algorandAlgorand (ALGO) $ 0.837976
  • leo-tokenLEO Token (LEO) $ 2.78
  • celsius-degree-tokenCelsius Network (CEL) $ 5.85
  • klay-tokenKlaytn (KLAY) $ 0.975368
  • bitcoin-svBitcoin SV (BSV) $ 128.71
  • tezosTezos (XTZ) $ 2.78
  • makerMaker (MKR) $ 2,541.28
  • neoNEO (NEO) $ 31.75
  • compound-governance-tokenCompound (COMP) $ 382.86
  • axie-infinityAxie Infinity (AXS) $ 37.23
  • iotaIOTA (MIOTA) $ 0.732055
error: Content is protected !!