Unlike most cryptocurrency ratings published online, the Wise Crypto ratings have nothing to do with the current or future price of the currency. Whether or not a crypto is over or undervalued or priced today is completely irrelevant. Our research focuses on the sustainability of each project, the security, the use case, decentralisation, environmental impact, the technology, the scalability and the developers and teams behind the projects.
Holochain (HOT / HoloFuel) Rating = 320/1000
Technology (0 to 300) = 135
- Speed (0 to 50) = 0
Holochain is not a blockchain and has made numerous trade offs in order to create a functioning DLT (Distributed Ledger Technology) product. There are no set transaction speeds as these are based upon network useage.
Holo is the first dApp on Holochain and created by the same team behind Holochain. We will include this in our ratings as well as they are interconnected. Holo will be the mainnet of Holochain with HoloFuel replacing the ERC20 based HOT token once live.
Holo Anchor Token (HoloFuel), is optimized for high speed. According to the Holo green paper, Holo can exceed the tps speed of major financial value exchange services such as the Visa network, which has a maximum of 56,000 transactions per second. This is all very much theoretical though and can also mean transaction speeds are snail like.
- Cost (0 to 50) = 10
All HoloFuel transactions on the Holo platform incur less than 1% of the total amount transacted by the sender. All transaction fees range between 0-1% of the total amount to be transacted. Hosts do not incur transaction fees for providing hosting. They are only charged for transferring, withdrawing, and redeeming HoloFuel. Even better, the development team has promised to reduce the transaction fees once the platform has scaled enough to meet the expected demand and cost of maintaining the infrastructure.
Withdrawal fees at Binance are currently 1082 HOT which is about $1 US Dollar which is quite expensive.
- Scalability (0 to 50) = 50
Holo is built on Holochain, which goes at length to solve scalability problems experienced in blockchains. Holochain, unlike blockchain, does not employ a consensus mechanism, meaning that its stable enough to effectively handle a large number of transactions involving numerous nodes. The platform is virtually unlimitedly scalable as it is based on a similar principle to the BitTorrent protocol.
- Environmental Impact (0 to 50) = 50
As earlier noted, Holo does not leverage blockchain’s consensus mechanisms, which have an immense environmental impact. Proof of Work blockchains, notably Bitcoin, requires immense energy that negatively impacts the environment. Holochain is a green solution to environmentally destructive blockchains. It requires minimal energy to operate as nodes on its platform neither store nor validate the entire blockchain. Instead, only a small percentage of bandwidth is used in comparison with traditional blockchains. It’s therefore quite environmentally friendly.
- Reliability (0 to 50) = 0
While not fully implemented, Holo seems to be quite reliable. It offers an alternative to blockchain’s immense problems, including centralization, scalability issues, environmental destruction, and insecurity. In essence, Holo is massively scalable, exponentially faster, far more energy-efficient, and 10,000x cheaper compared to blockchain. It’s ideal for dApps that require a large number of individual inputs where each individual has access to a limited copy of all inputs. All this is however entirely theoretical and we have absolutely no idea how it will work in practice.
- Decentralization (0 to 50) = 25
Holochain is a fully peer-to-peer architecture that enables applications to run with no centralization whatsoever. Holochain leverages an “agent-centric “system where there is no global consensus of historical data. Each agent maintains its own local data, therefore, eliminates centralization. Additionally, Holochain has a concept called “apps” that define dedicated, but interconnected networks of decentralized ledgers and smart contracts. Basically, each node on the Holochain network is provided with its own secure ledger, which can function independently while also interacting with other nodes on the network, in turn, providing true decentralization.
We will update the rating once everything is fully up and running, all being well maximum points should be reachable if everything follows the roadmap and green paper.
Security (-250 to 0) = -115
- 51%, Sharding/Denial of Service Attacks (-100 to 0) = -50
Holo, which is built on Holochain, is resistant to manipulation and denial of service attacks. This is because it leverages an “agent-centric” system where there is no global consensus of historical data. Peers validate every transaction made between Holo users (application providers and hosts) on a sharded distributed hash table (DHT). Each node possesses its own separate blockchain functioning with unique cryptographic keys. Therefore, it cannot be easily attacked. The peer to peer nature of the network however brings with it numerous other potential threats so it remains to be seen how secure it becomes once fully live.
- Potential for Being Banned (-100 to 0) = -25
Since Holo is not a blockchain, it faces little chance of being banned for those reasons and the development team has abided by all the laid down regulations. Being similar in nature to the BitTorrent protocol however means that policing for illegal activities will be critical to ensure compliance to local laws in any jurisdiction.
- Network Vulnerabilities (-50 to 0) = -40
Holo has some critical network vulnerabilities that derail its use case. The platform is more like a database than a file system. It is not ideal for private data and large files due to the shared DHT space, which may leak crucial data.
Use Case (0 to 500) = 180
- Initial Main Use Case (0 to 100) = 50
Holo was created to provide a platform for users to host (and use) decentralized applications (dApps) on their computers and set their own hosting prices and priorities for their hosting services. Users hosting dApps provide their hosting services while Holo provides the necessary infrastructure auditing using double-entry accounting with several layers of cryptographic assurance and notarization.
- Mainnet (0 to 200) = 100
Holo is built on the Holochain platform, which provides an alternative platform to the mainstream blockchain. Its ICO occurred on January 22, 2018. In the 2nd Quarter of 2018, Holo Alpha software testing took place and released to Indiegogo early adopters. Holo test net occurred in Q4 2018, where 100M test transactions per hour were achieved on the platform. Holo’s mainnet launch does not yet have an ETA and is currently in a closed Alpha Testnet.
- Additional Use Cases (0 to 100) = 30
Holo has a number of use cases, according to its green paper. The platform can be used for secure sharing of vital private information such as medical records, provide identification to unknown persons such as refugees using Dignity (IDwD) smart card and increase internet access through Halo’s microtransaction system. Reliability, security and privacy is absolutely crucial to the success of any of these use cases though given the way the network works.
Crypto casinos are a valid, legitimate and active use case: there are currently no Holochain casinos or HOT casinos.
- Additional Working Products (0 to 100) = 0
The team behind Holo is also responsible for Holochain-a scalable agent-centric distributed computing. It’s a distributed blockchain alternative and distributed app platform. Holo is a bridge between Holochain and users for mainstream adoption. Holochain is powered by ERC20 tokens called HoloTokens (HOT), which is a utility token built for the participants of its ecosystem to contribute to and utilize in the platform. (Update: we have combined Holo and Holochain together as the pair are governed by the same team and aside from being highly confusing and having contradictory information available, the pair will be integral in forming one network).
Core Development Team and Partnerships (0 to 200) = 120
- Core Development Team (0 to 100) = 60
Holo and Holochain are being led by 30+ team members with a vast amount of experience in the crypto sector. The co-founders both have 34 years of programming experience. Arthur Brock, who is the Chief Architect behind Holochain, has been a contract coder since 1984, working with AI systems and as an online alternative currency system designer since 2001. Eric Harris-Braun is the Executive Engineer behind Holochain. He has also been a contract coder since 1984, a full-time programmer since 1988, a designer of peer-to-peer communication applications (Glassbead) for many years, a full-stack web developer, as well as having experience in system design, framework design, etc.
- Partnerships (0 to 100) = 60
Holo has partnered with various institutions to provide business solutions through its platform. Among institutions that have partnered with, Holo includes Deloitte, Orion, Next Block Group, and Coca-Cola. There are also talks of a possible partnership with Mozilla Firefox. Already, there are several dApps developed on the Holo ecosystem, including Scared Capital, Junto, Core.network, Producer’s Market, among others.
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