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 about what HollaEx has accomplished.
Tip of the hat 🎩
Firstly, the hard work which crypto has 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 play time and entertainment usage. Think Netflix playing in the background while binging on Fornite with your buddies online.
But besides the escape in the digital realm, the year 2020 despite its challenges has proved one thing... Digital assets like Bitcoin and tokens 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 is blockchain financial infrastructure slowly seeping into every service we use.
📅 HollaEx in 2020
How did HollaEx fare this year? Quiet 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 white-label crypto exchange that is HollaEx and even continued to plow resources into our flagship exchange live example exchange pro.hollaex.com which has proved to be the right move as we move into 2021.
HollaEx Pro Exchange
We started 2020 strong with the launch of our HollaEx Pro Exchange on the very first day of the year, January 1st!
HollaEx Pro Exchange gained organic recognition and got picked up in the industry as a battle-tested live open-source crypto exchange that not only anyone can use like a regular crypto exchange but can be taken and repackaged as their own crypto exchange business. That's the beauty of open crypto tech right there.
The HollaEx Pro Exchange also got picked up by CCXT the kind of FIX protocol for crypto trading. HollaEx added to CCXT allows for an ever-growing number of crypto developers to more easily program bots and other services on top of HollaEx, which was a great start to the year.
HollaEx also got picked up a number of times in the media and continues to be used as an example of what is possible when conducting business with blockchain technology.
The opening of the XHT market and the challenging design of XHT tokenomics this year proved ever more tricky with a depressed economy, however, XHT continued to swim through and made it to the shore!
As more exchanges are learning how to come online, many are required to donate XHT in order to active their tokens on their own 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 prices for white label added services.
One great thing about utility tokens is their simplicity. And XHT is no exception. Just deposit and the exchange software just works.
The bread and butter wallet software that is Vault was given a dedicated mention as a key component of HollaEx’s white label exchange. Vault allows businesses to create multiple addresses and services as multiple customer use cases. It also handles the safe storage of digital assets, and monitors transact on the blockchain for various digital 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 which is open crypto assets!
Vault DACS will continue to provide ever better battle-hardened crypto custody solutions going forward in 2021.
HollaEx Dashboard — Exchange Setup 🧙Wizard
One of the pivotal plays by HollaEx this year was the release of HollaEx’s dashboard (AKA, Holla Dash). The dashboards 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 a domain, coins, and branding.
One of the major hurdles of an exchange is the 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 HollaEx in 2020.
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 built-in liquid markets from day one from when the exchange opens.
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, and 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 HollaEx’s white label crypto exchange software.
Anyone can download the HollaEx Kit from GitHub here or they can even fork and contribute to open exchange technology.
In the new year HollaEx 2.0. will include many breakthroughs that will make crypto business 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.
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 region is in need of crypto it is Africa.
One such player taking on the challenge of Africa is KoinKoin who we are proud to have cooperated with to bring crypto services to the region.
KoinKoin by going public and fully collateralizing their exchange has managed to crowdsource enough XHT collateral through 14 backers. By collateralizing KoinKoin also increases the profit margins that can be generated from trades on their exchange.
2021 will be the year of blockchain infrastructure and mass adoption.
What will that look like? Will be many small and big businesses slowly adding crypto services to their business website and we believe that exchange operators that provide basic crypto services will succeed.
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.