One of the new ICOs that is generating some buzz in the crypto community is Halo Platform. But, although you have almost surely heard the name by now, a lot of people are still wondering what Halo actually does. In this post, I will introduce some of Halo’s key features and why I think it will make life easier for cryptocurrency users, and later this week I will talk more about the current ICO (open until October 31), as well as masternodes.
Halo Platform aims to be an all-encompassing cryptocurrency hub for both veterans and everyday basic crypto users alike. With Halo Platform, you will have an application on your computer or smartphone where you will be able to keep track of prices in real time, view charts (complete with pro-tools), trade, store coins, communicate with other users, and much more. For a super-enthusiast like myself, who has an entire page on my phone dedicated to crypto and crypto-related apps, you could imagine how excited I am to have all these features accessible in one place.
After checking out the Halo website and reading the whitepaper, I was left with a few questions about the way the exchange would work and whether Halo Platform’s wallet feature would be able to store all of my crypto assets. I was fortunate enough to speak with the founder of Halo Platform, Scott Morrison, who was enthusiastic in sharing the vision of his project. He also revealed that the whitepaper would be updated very soon to include more technical details.
Perhaps my favorite part about Halo Platform is its exchange section, which will allow you to trade any cryptocurrency available on any major exchange. Say, for example, you have an account with Bittrex. You would generate your API private key from Bittrex then add it to Halo, and just like that you will be able to access Bittrex’s services through Halo’s platform. Add any exchange you want, as long as they offer an API, and you’ll be able to access them immediately through Halo for your convenience. This way, you can seamlessly compare charts and prices across all major exchanges in real time and execute trades without delay.
In addition to linking the major exchanges together, Halo Platform will also have its own decentralized exchange, which seems to be a logical step in the right direction when you consider that we’re dealing with a decentralized currency. Halo’s goal is to include every sought after coin available on their own exchange as soon as possible. If it’s on Coinmarketcap, has respectable volume, and most importantly, demand, Scott Morrison assures that it will be listed with no politics involved. There will be frequent open voting systems and the community will have the power to decide what coin gets added next.
This aspect, in my opinion, is a game changer. How many times have you seen somebody overlook a coin that they think has potential, just because they weren’t signed up to an exchange that offered it and they were too lazy to create a new account? If Halo can be the platform to successfully bridge the gap, then it will open up all sorts of new doors for crypto traders everywhere, bringing forth some much needed accessibility and convenience.
Another useful feature that should get the crypto community excited will be its universal wallet that will be compatible with any and every coin on the market. No more will we have to shuffle our coins between a number of different wallets and exchanges. This feature will come in handy, especially for those cryptos that don’t yet have a proper wallet and force investors to leave them on exchanges, which is enough to keep some traders wary about investing in the first place.
According to their roadmap, Halo Platform’s exchange will be launched in mid December, with other features being added to it bit by bit throughout early 2018. Already, I see Halo breaking some barriers with its decentralized exchange and universal wallet. Although at first it may seem like condensing different currencies and exchanges into one hub is centralizing the decentralized, it is important to realize that Halo Platform is only organizing our trading floor, not centralizing any power. This can only be a welcome addition, as the cleanliness and organization is very much needed in the crypto space.
By: Eli Karadsheh
I can't wait for Halo Platform to launch!