bitHolla in 2020

5 min read

Goodbye, 2020. It was good knowing you. That’s probably what you’d say to the past year.

2020 has been nothing short of a bittersweet symphony of challenging events and tough work for everyone. So to conclude the year, I’d like to share my thoughts for the year and give a hopeful look into the future and a little on what bitHolla has accomplished.

Tip of the hat 🎩

Firstly the hard work of the bitHolla team and to the crypto industry as a whole and what was pulled off this year has been nothing but astounding. Hard work matters and we can see why Satoshi himself made proof-of-work the foundational system governing Bitcoin. So let’s first tip our hat to that!

In the past year, we’ve seen mass scale enforcement of work from home, real digital currency usage, government-issued digital currencies, and even a full-blown escape into the digital realm with record-breaking video game playtime and entertainment usage. Think Netflix playing in the background while you binge on Fortnite with your buddies online.

But besides the escape in the digital realm, the year 2020 despite its challenges has proved one thing… Crypto assets are here to stay.

Is this mass adoption? Who knows. But I think we can agree that the virus has only acted as an accelerant of what was going to happen anyway, which was the adoption of crypto financial infrastructure merging with existing services we use today.


📅 bitHolla in 2020

How did bitHolla fare this year? Quite well, despite some disruption and turmoil of the economy the last few innings really did turn the tables.

Even despite market fears and low risk-taking by businesses we continued to develop our infrastructure crypto kit that is HollaEx Kit and even continued to plow resources into our flagship exchange HollaEx.com which has proved to be the right move as we move into 2021.

HollaEx Exchange

We started 2020 strong with the public announcement of our HollaEx exchange on the very first day of the year, January 1st!

HollaEx Exchange announcement on CoinTelegraph Januaray first. Source: https://cointelegraph.com/press-releases/open-source-built-exchange-hollaex-launched

HollaEx exchange gained organic recognition and got picked up in the industry as a battle-tested open-source crypto exchange that anyone can not only trade on but can repackage into their own exchange business. That’s the beauty of crypto right there.

The flagship exchange also got picked up by CCXT the kind of FIX protocol for crypto trading. By having HollaEx added to CCXT now any developer can easily program trading tools for HollaEx.

HollaEx being compatible with CCXT has made it easy for developers to build a trading system compatible with HollaEx that will also work with other exchanges.

HollaEx also got picked up numerous times in the media and continues to be used as an example of what is possible in crypto when using the HollaEx Kit.


XHT Market

The opening of the XHT market and the challenging design of XHT tokenomics this year proved even more tricky with a depressed economy but XHT continued to swim through and made it to the shore!

XHT has been listed on a number of coin metric sites such as CoinhillsCryptoCompareCoinranking, and The Crypto app.

As more exchanges come online they are required to collateralize XHT in order to power the exchange. This has proved to be a useful business model and sustainable tokenomics system for XHT and despite market price fluctuations of XHT the laws of supply and demand are in full effect to balance and better price the crypto-exchange software.

One great thing about utility tokens is their simplicity (as long as you got a product of course). And XHT is no exception. Just stake XHT and the exchange software just works.

As a side note, anyone can freely obtain the token from the open market at HollaEx Exchange.


Vault and DACS collaboration

The bread and butter wallet software that is Vault was given a dedicated page and dashboard at https://vault.bitholla.com/. Within the dashboard, anyone can begin building crypto-based products and have multiple addresses that can serve multiple customers so they can safely store, transact on the blockchain, and monitor their assets.

All good crypto-based projects have a coin management system behind them and Vault has been an unsung hero within the HollaEx ecosystem quietly juggling blockchains and defending against attacks.

To make Vault even stronger we’ve begun collaborating with DACS a digital assets custody solutions provider that specializes in secure crypto custody technologies.

The DACS partnership with IBM and their usage of IBMs secure container mainframe hardware is a rare hybrid of what works with the old and new that is open crypto assets!

Watch and learn more about DACS at IBM.com here.

Vault DACS will continue to provide even better battle-hardened crypto custody solutions going forward in 2021.

Holla Dash — The Rapid Exchange Wizard 🧙

One of the pivotal plays by bitHolla this year was the release of bitHolla’s dashboard (AKA, Holla Dash). The dashboard’s major advantage is providing a straightforward step-by-step exchange setup, 5-steps to be exact!

What’s unique about this crypto exchange dashboard is that it takes the mystery out of exchange technology and boils it down to its key components of branding, coins, and hosting.

Look, no coding required. Your cloud exchange deployed in minutes!

One of the major hurdles of an exchange is a matter of hosting. Many business-savvy individuals struggle in dealing with domains, servers, and general computer command-line driven systems. What Holla Dash has done was take out the unnecessary complexity of deploying an exchange by providing a simple built-in domain in a neat cloud exchange package. The cloud exchange option with the dashboard is a low cost, easy-to-test, rapid exchange system in one and was a breakthrough for bitHolla in 2020.

Anyone can give it a try at dash.bitholla.com.

Let there be liquidity

And God said, let there be liquidity and it was done.

One of the toughest parts about running an exchange is not the technology part but the money part! Where does it all come from? How do prices stay fair and stable? Is there enough to go around? These are questions that come to us repeatedly in 2020. So we’ve addressed that by creating inbuilt liquid markets from day one when exchanges open.

Full orderbooks for every exchange was a vision realized in 2020

More about HollaEx 2.0 can be read in bitHolla’s blog right here.

Open-source power

As many know open-source technology is everywhere, a majority of our servers operate on open-source software, many of our phones run on Android, your web browser is likely Chrome and that’s open-source too, and now today your money now is open-source with Bitcoin and Ethereum and with that we’ve decided to open-source the crypto exchange software HollaEx Kit.

Anyone can download the HollaEx Kit from GitHub here or they can even fork and contribute to open exchange technology.

HollaEx 2.0

As we did in 2020 we will be opening the new year with HollaEx 2.0. Which will include many breakthroughs and make doing crypto easy.

Some of the things we’ve been working on:

  • ☁️ Automated crypto cloud exchange
  • 📦 New exchange unboxing experience
  • ✏️ Direct edit mode
  • 🌊 Liquid markets from day one
  • 😏 Smooth operator admin panel

Look forward to these new features in late January 2021.

To preview what’s inside Kit 2.0 you can watch a full live demonstration on YouTube here.

KoinKoin — Africa’s crypto exchange

When anyone talks about crypto they often forget how important it is for countries such as Africa which has a diverse and complicated currency situation with approximately 40 currencies! If any country is in need of crypto it is this one.

KoinKoin.io pulling ahead of crypto services in Africa by using the white-label crypto exchange software HollaEx Kit.

One such player who has taken on the challenge of Africa is KoinKoin whom we are very proud to have had worked with to help bring crypto services to the region.

KoinKoin by going public has managed to crowdsource enough XHT collateral through 14 backers. By fully collateralizing KoinKoin has increased its exchange systems profit margins by becoming a full member in the HollaEx exchange network.

Conclusion

2021 will be the year of crypto infrastructure and mass adoption.

What will that look like? We will see many small and big businesses adding crypto services into their business website, some adding coins, and some having an inbuilt exchange system too.

We also think crypto credit lines will become a thing, crypto collateral will too and you can bet more fiat money 🖨️ printing.

So let’s 👋 wave goodbye to 2020 and bring in the big 2021.

Happy new year!

— Ali Beikverdi, CEO
bitHolla Inc.

For more crypto industry and bitHolla news, check us out on FacebookTwitterLinkedIn, and our website!

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