Altcoins

Crypto

Looking for a passive income opportunity? You might be interested to learn about HoloToken (HOT) and what it has to offer.

Buying_Hot_Tokens.png

Many altcoins have registered astronomical gains in the 2021 crypto bull run. If you’ve been keeping track, most of their prices have since corrected, and are now back to where they were at the beginning of 2021. However, one particular token is still posting greater than 1,000% gains for its holders. We’re referring to the 

. In this article, we’ll discuss everything there is to know about the Holo network, Holochain and the HOT token. 

 in 2017, both of whom have extensive experience in smart contract coding. The Holo project was built with the vision of providing the tools and technology necessary to power the future economy of peer-to-peer (P2P) trading. At its core, Holo is a distributed P2P hosting platform for all the Holochain applications, known as 

The Holo network’s goal is to function as a bridge between decentralized Holochain apps and the existing centralized web which we use daily. The Holo betwork and its ecosystem bring many distributed applications to a typical web browser. With the help of their native cryptocurrency, HOT, the Holo network enables distributed hosting services powered by the peers in the network.

With Holo, anyone can generate a passive source of income by loaning out the computational power of the devices they own. By doing that, users become hosts, earning rewards in 

. The best part is that Holo’s proprietary software runs in the background without disrupting the activities you perform on your electronic devices, such as phones and laptops. You also get to​ decide your hosting price, set your priorities and choose what Holo applications (hApps) to serve.

 and acts as a utility token for the Holo network. Users who offer computational power to the network are rewarded in HOT tokens. 

According to the Holo network, HOT tokens will soon be tradable for HoloFuel. Once HoloFuel is launched, users can convert their HOT tokens to HoloFuel during the first six months of the Holo beta program. Holo fuel serves dual purposes as both the reward for input on the network, and as the measure of computational power. 

Blockchains can handle transactions significantly faster than traditional methods. In many cases, blockchains can process the bulk of transactions in less than a few seconds. However, there are some complaints about the workings of blockchain technology. Early blockchain networks, such as Bitcoin’s, are especially prone to 

 needs a large amount of energy to function. 

Developers are constantly coming up with innovations to secure public blockchain networks while significantly reducing energy costs. The goal is to achieve high scalability — without compromising network speeds — while keeping transaction fees low. Holochain could potentially address all these existing blockchain issues. It’s an open-source framework which enables the creation of true P2P applications. Let’s take a closer look at Holochain.

As mentioned, Holochain is an open-source framework for building fully distributed P2P applications. It's not your typical blockchain. 

On a regular blockchain, nodes on the network maintain the same network state. Holochain, however, is an energy-efficient ledger system that’s agent-centric. This means each agent (host) has a copy of the secured ledger and can act independently, as well as interact with other devices on the network to provide a functional and highly scalable 

Unlike typical blockchains, with Holochain each node maintains its history independently. Holochain aims to eliminate the need for synchronizing all of the 

 in a network by implementing distributed hash tables, which creates a shared public space. With this approach, every node carries a part of the distributed data, which won’t be lost to the network when a node goes offline. 

This aspect of the Holochain is configurable and customizable for each application’s use cases. With the distributed validation process on Holochain, every app user agrees to and is aware of the application validation rules. If the application rules are broken in any way, other nodes in the network can identify who broke the rules, and take positions accordingly. 

HOT tokens were launched in 2018 in an ICO. They were sold to users as 

 tokens which can be redeemed as HoloFuel tokens. As a mutual-credit currency backed by an asset, HoloFuel tokens can only be obtained by exchanging your computational power on the Holo network. 

The fundamental purpose of the HoloFuel token is to reward hosts for lending their power. This allows Holochain’s mutual-credit accounting system to process billions of microtransactions every day. 

The concept of the Holo network itself is unique. By directly competing with the mighty 

, the Holo network aims to solve the drawbacks of existing blockchain infrastructure. Apart from that, the way the network functions also makes the entire process unique. To become a node validator on the Holochain network, you don’t need huge amounts of processing power or electricity. In fact, you can even use your smartphone to become a validator. 

Holochain is intended to enable developers to create various applications (hApps) on the Holochain network for the public to access. For instance, if you’re a developer, you can create your own chain to conduct microtransactions among your friends, without relying on an external protocol or receiving confirmations from other network participants. 

As mentioned, users can share their idle computational resources to power various Holochain applications. By doing so, they generate a reliable source of passive income in the form of HoloFuel tokens. In addition, the Holochain platform offers great flexibility, as you can choose which hApp you want to provide resources for, as well as the amount you want to charge. 

Built on the Holochain, the purpose of Holo is to make hApps easily accessible to everyday internet users who may not be ready to install and test complex protocols like Holochain. Holo was developed to bridge that gap, and users can access hApps with a simple click on the application via their web browsers.

Note: Figures below are accurate as of this writing, and are approximated up to two decimal places.

As the adoption of Holochain and the Holo network increase, the price of the HOT token is expected to appreciate. We believe that Holochain and its ecosystem have strong potential. According to the popular crypto price forecast platform 

, the price of HOT is expected to appreciate by over 100% in less than one year. This platform also suggests that HoloToken’s price could appreciate from $0.0082 to $0.016 in the same time frame.

One of the easiest and most convenient ways of buying the HoloToken, HOT, is on the Bybit exchange. Follow the steps below to purchase HOT with Bybit. 

If you don’t have an account with Bybit yet, you can easily create one in a couple of minutes. (If you’re an existing Bybit user, please proceed to Step 2.)

 in the top right corner. Enter your basic details as requested and create a secure password. Click 

 after confirming the password you’ve created. You will then receive a code at your registered email address or mobile number. Enter that code on the exchange page to complete the account creation procedure. Complete a quick verification process to start transacting crypto and fiat money on the Bybit exchange.

Step 2: Acquiring USDT In Your Bybit Wallet

The HOT token is paired with USDT, the most popular stablecoin, on Bybit. Therefore, you must hold USDT in your Bybit exchange wallet to purchase your HOT tokens. If you already hold USDT tokens in other wallets, you can withdraw them and transfer them to your Bybit exchange wallet. If you don’t hold any USDT yet, you can purchase it in a few simple steps. 

We recommend using a limit order as opposed to a market order, in order to avoid 

. Or, you can enter the trade at your desired price. HOT tokens will be transferred to your account once your order gets filled.

It’s crucial to secure your crypto tokens, as they’re potentially vulnerable to online hacks. Although the Bybit exchange offers maximum security, understand that your exchange wallet is ultimately a custodial wallet — a form of hot 

. Consider transferring your purchased HOT tokens to cold storage for greater peace of mind.


As an open-source framework, the Holo network allows developers to create reliable P2P applications that offer unsurpassed speed. With Holochain, developers get to create their own chains to which they can add any data, such as financial transactions between two parties. The chains in the framework can split, merge and interact, making it highly interoperable and customizable.

Ultimately, the Holochain network is a potential alternative to the blockchain because it’s futuristic, cheaper and more efficient. However, the Holo network will likely need time and effort to make their promises a reality. When that occurs, it will truly have an impact on the gargantuan blockchain industry. 

What HoloToken (HOT) Is & Why It Matters

Get your daily dose of crypto and trading info