Holochain Increasingly Looks Ready For A Massive Bullish Breakout
Holochain (HOT) might be ready to break out of its falling wedge and record a significant price increase. The blockchain alternative is showing signs of a bullish breakout soon. It may be time for traders to buy before the big break.
Breaking Out Of The Wedge
— TrendSpider (@TrendSpider) November 26, 2019
From the graph, the falling wedge lines show that Holochain just about reached its bottom for this cycle. The fall in price lost its momentum during the Jul/Aug period indicating that traders may be stepping in to end the current trend.
Holochain seems to have hit its bottom around Aug as the price started adjusting upwards into Sept. Traders should probably be excited about the future of the project. It may be time to bid and hope for great results before the year closes.
The Blockchain Alternative
Holochain takes a different route on decentralization. The technology maintains the cryptographic network required to maintain data integrity across its peers without using any consensus system.
Without a consensus system, Holochain is advantageous over blockchain in the following areas:
- Processing is immediate and efficient
- No consensus algorithm required
- Conservation of energy as mining is not necessary for the setup
- No delays in the network
The tradeoff pays by having applications that are faster, highly scalable and more energy efficient.
Holochain has enjoyed a successful year in terms of platform development and community engagement. The blockchain alternative has made some meaningful partnerships in 2019. In Aug, Holochain partnered with Orion to offer ease of integration and access to free exchange listing on the Orion Protocol Dex among other trading services.
Holochain also hosts several successful applications in their network.
Featured Image Source: Coin Central
Sal Miah is the senior editor at Blockspectator News and is a regular contributor to a variety of cryptocurrency news websites and projects. He has written hundreds of articles on numerous topics related to blockchain and also has a special interest in financial markets. Contact him directly at email@example.com