Bholdus (BHO) is attracting attention in the cryptocurrency universe. CoinMarketCap named Bholdus the most trending cryptocurrency on 23 October 2021.
So what is Bholdus and is Mr. Market, right? The developers call Bholdus a blockhain dedicated to DeFi (decentralized finance) and nonfungible tokens (NFTs). In addition, they call Bholdus a bridge between real-world assets and the crypto space.
To achieve those goals, the Bholdus Blockchain Network functions a cross-chain between the Binance, Ethereum, and Polkadot blockchains. A cross-chain or sidechain is a less-encrypted shortcut between blockchains.
The Bholdus Blockchain Network
Hence, they claim you could spend Ethereum (ETH), Ethereum Request for Comment (ERC20) tokens, Binance (BNB), and Polkadot (DOT) on the Bholdus Blockchain Network. Thus, you could theoretically spend Ethereum stablecoins such as USDC (USDC) on the Bholdus Blockchain.
Some Bholdus Blockchain Network functions include:
- Using NFTs to represent real-world assets for collateral and credit scoring. For example, you could take out a mortgage on a real estate NFT.
- On-chain borrowing by using blockchain constructs such as cryptocurrencies and NFTs as collateral.
- Using Bholdus (BHO) to pay transaction fees, validate staking, and for on-chain governance.
- Letting Bholdus (BHO) to let BHO owners store values, generate yields, and participate in the open lending network.
- They will offer BHO native stablecoins to use for transaction fees and fast settlements. Thus, people could create Bholdus stablecoins. To elaborate, a stablecoin is a cryptocurrency that contains a smart contract that makes fiat currency payments from bank accounts. For exmaple, USDC makes payments in US dollars.
They hope the Bholdus Blockchain Network will connect small and medium-sized enterprises in Southeast Asia. They claim Bholdus Blockchain could provide businesses with financing and DeFi tools. Those tools include loans collateralized by cryptocurrency and NFTs that represent real world assets. For example, NFT corporate bonds.
Business owners could stake assets on Bholdus and sell them or borrow money against through the network.
Some Bholdus Products and services include:
- A multiple digital asset issuing system. I imagine this is a build your own cryptocurrency, build your own synthetic assets, or build your own stablecoin tool.
- A Cross Chain Network
- DApps (Decentralized Apps) or digital robots that operate on the blockchain.
Currently, they are testing the Bholdus Testnet Cross-Chain with BSC and Ethereum. They are also listing BHO on exchanges.
They are also holding public sales of Bholdus (BHO) and testing private staking on the Bholdus Testnent. Bholdus is also testing digital assets and mobile integration. They launched the Bholdus Testnet in June 2021.
The Bholdus team hopes to begin penetration testing in November 2021 and launch its Mainnet in December 2021. Bholdus partners include Pancake Swap, Cancham, Certik, MEXC Global, and TechQuarter.
What Value Does Bholdus Have?
Mr. Market gives Bholdus (BHO) some value. It was CoinMarketCap’s 880th most valuable cryptocurrency on 26 October 2021.
For example, CoinMarketCap gave Bholdus a Coin Price of 3.3898¢, a Market Capitalization of $17.656 million, a Fully Diluted Market Cap of $388.89 million, and a 24-Hour Market Volume of $18.098 million on 25 October 2021. They base those numbers on a Circulating Supply of 454 million BHO, a Maximum Supply of 10 billion BHO, and a Total Supply of 10 billion BHO.
I think Bholdus is another one of those cryptocurrencies that represents a good idea for decentralized finance. In particular, Bholdus could introduce NFTs and DeFi to regions such as Southeast Asia and Latin America. I think it could make money if it works.
Could Bholdus Make Money?
There is money in the markets Bholdus hopes to serve. I estimate the combined gross domestic products (GDP) of the Association of Southeast Asian Nations (ASEAN) was $3.356 trillion. ASEAN’s members are Brunei, Vietnam, Cambodia, Indonesia, Laos, Malaysia, Myanmar (Burma), the Philippines, Thailand, and Singapore.
Statista estimates that the largest ASEAN GDP was Indonesia, which had a gross domestic product of $1.158.78 trillion in 2021.
However, there is no evidence that any of Bholdus’s services or products work. I advise speculators to watch Bholdus (BHO) but not hold this cryptocurrency until the Bholdus Network offers NFTs or DeFi services in the real world.
Originally published at https://marketmadhouse.com on October 25, 2021.