I will finish my rant about Blockchain with a quick summary of some of the top 20 coins/tokens and give a brief explainer of what I see it as being in the future.
Bitcoin ~ The big daddy, not going anywhere and will remain the king but is extremely over valued and the number one user of “scarcity” as its selling point. (FYI there isn’t any scarcity, a Bitcoin broken down into Satoshis means there is enough of them for every single human on earth to own 200 thousand of them. Scarcity my ass..
Ethereum ~ Also highly over valued, switching to proof of stake and always trying to make itself able to do things it was never designed to do, like scale. Its just another old and slow technology that brought ERC20 tokens to the masses.
Cardano ~ Going to do an entire article and review comparison on this soon.
PolkaDot ~ Another Digital Currency Group shitcoin, highly over valued.
Ripple XRP ~ This one is probably the most over valued of them all, XRP does nothing for its holders, provides no revenue and Ripple the company spends money at will as they’ve convinced thousands of people of its immanent adoption (hasn’t happened in 8 years, never will). The same as attaching a blockchain to a cloud doesn’t make either of them any better it just means more transactions, XRP is the same with cross-border payments, you don’t need a coin or token for this, its a product created for a market that has never existed.
Solana ~ Won’t go into this too much, they just had a major fuck up and had to reset it. Its like Iota it has a pause/reset button.
Uniswap ~ AWS dependent myth that has fooled thousands into thinking it is a DEX or decentralized exchange, it runs entirely on AWS. You can’t get much more centralized than AWS. But as I said, in blockchain it isn’t illegal to lie or mislead or incorrectly label your product, just do what ever needs to be done to make sure the idiot in the triangle pays everyone.
BitcoinCash ~ Shitcoin fork that does what 90 percent of other coins do, send from one address to another and pay the miners. Another waste of space and free dollars for the miners.
Internet Computer Dfinity~ LOL first I have to stop laughing, even when I type the words Internet Computer I think of that turtle neck wearing wannabe who thinks he is Steve Jobs. He has even recently labelled the ICP “The World Computer”, its just another shitcoin using centralized commercial data hosting services but in Dfinity speak they are called “Independent Data Centers” which is another way of lying your ass off saying we use commercial cloud and data centers but our data providers use our network nervous system, this somehow obviates the truth about where the data is hosted. These guys out-do any other blockchain for lies, by a country mile.
Final words about blockchain
You’ve probably come to a reasonable assumption that I am both jaded and offended by the existence of blockchain.
Let me make it clear, although it is a seedy industry that is highly volatile and manipulated that doesn’t mean everyone who owns coins or tokens or works with or for blockchain is a bad person, that’s simply not true.
There are plenty of great people within blockchain but as an entire industry its filthy.
And with regards to blockchains that attach themselves to commercial data centers and cloud services for their nodes, for their stakers etc, there is nothing wrong with that, nothing at all.
Unless you lie about it, that’s when things change. If I am the CEO of a blockchain company offering to run applications using my blockchain and my nodes are commercial and centralized why not just say so, there’s no harm in that because that is the only viable option at the moment?
Because then they are no longer selling the myth, they are selling the truth and guess what?
Bullshit sells way better than the truth does.
I’ll leave it at that. 🙂
Lets talk about Holochain
Given my obvious thoughts on the seediness of blockchain and what I mentioned above you are probably expecting me to go into a holier than thou spiel about how noble and honest Holochain is and how it has zero faults or challenges ahead of it, you would be wrong to expect that.
Firstly Ill mention the good then the bad then the unknown.
What I think Holochain has that many blockchains don’t is a whole lot of ethics, their leadership team are intelligent people who have been working on this long before Bitcoin first arrived on the scene.
Eric and Art the two founders of Holochain are personable, honest and friendly people, as is the rest of the team that I have interacted with briefly including Mary and David.
You couldn’t ask for a more reputable and respected leadership group.
I’m not going to re-write things I and others have written a million times about what Holochain can do in comparison with Blockchain, that’s been done to death, although its an on-going thing because there’s two things in the way of Holochain.
One is that it is quite complex, which is both an advantage and disadvantage because explaining its potential and areas it can be used and where it can and will disrupt current technology also touches on the realm of blockchain because cryptocurrencies can be created using Holochain along with its intended function as an application framework and hosting company.
To give you a brief comparison when it comes to scale please check out the article below by Art Brock.
If you want to learn more please visit Holochain or Holo websites or check out some of my other articles.
In this article in particular though I want to focus on HOT and HoloFuel and the swap and what I think it will mean for Holo hosting and Holochain itself, independent of what the cryptocurrency markets are doing at the time, although it would still be relevant.
HOT
HOT is the ticker for the Holo token which is currently an ERC20 token that can be swapped 1:1 (one for one if you have ratio issues) for a certain amount of time, the last I read was that it will be a guaranteed timeframe of approximately 6 months.
If I own 50 HOT tokens I will be able to swap them for 50 units of HoloFuel until the swap period ends.
The only place to swap HOT tokens is at one of the Holo hosting Reserve Accounts.
This page leads to a lot of explanations of the swap and dynamic supply.
After the designated swap period (this is yet to be announced at the time of writing) then there is a little bit of uncertainty as to what will happen with HOT.
Although everything is subject to change because it hasn’t happened yet my understanding is that HOT will remain unpegged to HoloFuel as an entry point in and out of cryptocurrencies.
HoloFuel
HoloFuel is the asset backed (through hosting) currency to pay for hosting services from Holo.
Customers of Holo (Think about that what I just said)
“Customers”/”Clients”/”Paying public” wow, in blockchain world WTF is a customer? (I’m being facetious here because blockchain doesn’t have customers, it has holders or owners) it doesn’t know what a revenue is because the end product is the coin or token itself the person buying the coins/tokens (the clown in the triangle) that’s the customer.
Anyway back where I was, Holo customers will be able to purchase hosting through the Holo Reserve accounts (translation: directly from Holo the company) and they will be able to do so using USD/EUR/GBP/ and probably a few other of the major currency pairs.
It is also likely that exchanges like Orion Protocol and Binance will also have BTC/HF ETH/HF pairs.
Having a clientele that isn’t a “crypto-er” is going to be unique to Holochain initially and its also a very good idea to allow businesses to pay commercially and have receipts from a registered company for their hosting requirements.
So as you can see HoloFuel will bring non-crypto people into the same hemisphere but without forcing them to create exchange accounts and go through other detailed processes, that will all be part of the Holo hosting on-boarding.