Crrrypto...!!! What's that?
I live in a small city. When I got interested in the field of blockchain and cryptocurrencies, I couldn’t find anyone in my city, who had even heard these words before. So internet was my only friend that could educate me about it.
It was not an easy task to learn the tight ropes with no knowledge of where to start from, in this field. When I started googling about it, I realized that this is a vast field with lots of entry barriers for non-techies like me. Grasping the basics of a blockchain technology, understanding the functioning of cryptocurrencies and what various crypto tokens represented, and then trading them over several crypto exchanges, or investing in an ICO …every step was damn hard to get by.
When we don’t know how to save those long strings of randomly generated passwords securely; which software or hardware wallet we need to buy; what exchange is good; how to interpret several technical indicators to make the best of our trades...; we like to rely on suggestions from our successful friends in this arena.
Learning crypto made easy
To make wide-spread adoption of cryptocurrency possible, we need to ease or remove the entry barrier to it and present this seemingly complicated field in simplistic terms so that even a non-techie can feel at ease with it. Fortunately, I came across a wonderful idea mooted by a new startup in this sphere called Hilo.io (pronounced Hi-Lo).
Hilo.io, a project by Tela Network Foundation, has conceptualized a social network dedicated to crypto enthusiasts. By creating a network of people with a common interest i.e. crypto; it would be easy to connect and make friends to share everything related to crypto. Won’t it be an amazing place to hang out and learn together? Wait... there are many more things for us in this project. Let me share some more details about it.
Hilo.io - a community that socially aggregates crypto knowledge
For beginners, Hilo.io is developing interesting games under its “Fantasy Crypto” section where users can have fun while learning crypto-trading without investing any real money. Hilo.io platform will offer users to create virtual portfolio to track its performance by incurring zero cost and no risk. Fantasy trading games like football-inspired trading etc. are on the anvil too.
To give a complete experience from a single platform, Hilo.io has integrated all its features in its User Dashboard. From the Dashboard, any user can track the activities of his/her friends, manage his/her own portfolio, check the current market prices and movements of coins, discover new coins, monitor crypto news, customize his/her Watchlist and many more things. You can also see all your assets across wallets and exchanges under “My Coin” tab with details of their current value, net cost and all your transaction history.
An interesting feature of this platform is that you can point on any cryptocurrency’s price chart and you can see “Buy” & “Sell” recommendations from all your friends or people you follow along with their logic behind their stand. It’s up to you to follow and act on their tips or not. You too can give your own recommendation for Buy & Sell every day. Based on these successful calls and some other indicators of influence like no. of followers, upvotes etc.; users are listed on the “Leaderboard”.
Another very effective social tool this app provides is that you can also share your actual portfolio publicly or with your friends as per your preference. When you see the actual portfolio of your friends live, you know where exactly they are putting their money. Hilo.io platform also gives you notifications and alerts on price movements of cryptocurrencies, ICO updates and other crypto related news.
Hilo.io is developing Android as well as iOS mobile versions for its app. There will be facility of one on one chats with your friends as well as group chats. Several groups or sub-communities can be developed with this feature.
Hilo Token
Hilo Token will be the native currency for Hilo.io platform’s tokenized economy. Hilo tokens have several utilities like subscribing to group chats or following the trades or tips of any successful and experienced trader (Influencer). You also have an option to put some price tag (in Hilo tokens) if you wish to charge actions like someone Direct Messaging you.
Earn while you socialize
Just like Steem, Hilo.io too is an inflationary token with an inflation of 2% p.a. These tokens are contributed to UGP (User Growth Pool) and rewarded to users. You can accrue XP (Experience Points) through successfully completing various gamified actions throughout the platform. There would be several Challenges, Badges and Levels. On Levelling up, you earn some Hilo tokens from UGP. You also earn Hilo tokens by bringing in a new friend on this platform.
Aside UGP, Hilo tokens can be earned by charging other users for sharing your Portfolio with them or giving tips in Direct Messages and other such activities. UGP also gets some contribution by charging a share of direct messaging fee, one-time fee or access fee associated with some activities. This is in addition to the tokens accumulated through 2% annual inflation.
Tokenized Governance
Hilo Labs Inc. acknowledges the important role its users play to keep the community growing. So to listen to their needs and interests, it has formulated a tokenized voting system to enable its users to participate in Platform governance.
Users can cast a stake-weighted vote (in proportion to the number of Hilo tokens they hold) to decide on the new features and their priority order for development and implementation.
Can it become a success?
Hilo.io looks to be a much needed project with a lot of promises. It is trying to fill a large gap in the market by bringing together crypto professionals and noobs on a single platform and trying to create a strong bond between them by taking care of everyone’s needs.
However, the success of the project depends not only in delivering a perfectly working platform with all the promised features but it also depends heavily on its wide-spread acceptance by the crypto community. Once the platform attains a critical mass, it will soon become a huge success. But attaining a large number of users in a short span of time would be the key. To attract beginners, there needs to be some very successful influencers who are willing to help and share their strategies on this platform. I feel the platform lacks some features for advanced users. But these are the early days for Hilo.io and I hope, that will be taken care of in the future because it will be in the platform’s interest to retain professional traders too.
I’ve seen projects like Crypto Ping and 3 Comma offering their services for free in their initial days but now they charge users to avail their advanced features. 3 comma too has a social element to follow other’s portfolio. But Hilo.io is integrating all social networking features into one platform. And more importantly, their Tokenized economy through 2% inflation seems very sustainable. What’s more, instead of charging users, it will be rewarding users!
With the rapidly rising crypto-community around the world, this project is well in time, if it delivers quickly.
"Entrepreneur" listed Hilo.io in its Top 15 ICO list
With the uniqueness, novelty and accomplishments thus far, it’s no surprise that Entrepreneur has recently listed Hilo.io among the top-15 ICOs to watch for. Hilo.io has an impressive list of partners like CIVIC (for ID verifications), Ledger (Wallet compatibility), Bounty0x (for their bounty programme), etc. You can check their website for whole list of their team, advisors and partners.
However, Hilo.io ICO is still over a month away ...I guess, it starts on 30th July. If this project interests you, you can find out more about it by going through its Whitepaper. Better still, you can join its Telegram chat and interact with their team members directly.
And if you want to accumulate some free Hilo tokens, you can do so right away. Click here for a quick bounty of 100 Hilo tokens. If you are looking for more Hilo tokens, check this bounty website (search for Hilo), where they are hosting their several bounty programmes.
So it's time to ask your opinion on it now 😊:
- What do you feel about this project? Is it unique?
- Do you know about any other social networking project exclusively targetting crypto community?
- Do you think there would be many more social networking projects targeting crypto community soon?
Do let me know about what you think on this subject. Would you really prefer socializing over cryptos?
Disclaimer:
This is not a sponsored post, nor a bounty post. No payment in any kind was received or is expected from Hilo.io project in lieu of this post. The post reflects my personal opinions and should not be taken as financial advice.
Thank you bro for this information. I am gonna check this one. As you mentioned hilo is a social media platform like steemit and rewards users with cryptocurrency. Will it be a rival of steemit? How is it different from steemit?
No way! It's very different from Steem and won't be rewarding you that much, I hope. It's not on its own blockchain but just a token on some other blockchain. But it aims to create a unique social network of crypto community where learning and bonding over crypto will be easier beside earning some share of tokens from their User Growth Pool.
When i first joined steemit, i thought it was just for crypto. But then I started using it all the time for all kinds of things. I would like a space were one could go specifically for crypto. Thanks for tbe post @xyzashu!
Hope this project will fulfil that!
I am very new to crytocurrency. I am a little bit overwhelmed with all the information on the internet. I think this is probably a fun way of learning through hilo.io. thanks
This project is being developed keeping exactly your needs in mind.
thanks, have briefly checked it out and am joining the waitlist while I continue...
Great going!
Hilo sounds like a potential programme like steemit. If the founder behind is really serious about it, it may have a chance to grow into another good blockchain social media where early adopters will see the best benefit. Thank for sharing this and it did cause be to consider about it.
Umm, can't compare it with Steem as it's not totally on-chain and very different though based on tokenized economy.
¡ Claro que si gustaría socializar! Muy interesante, gracias por la información, me suscribire en hilos, resteem, cariños y besos @xyzashu
आपका स्वागत है और Resteem के लिए बहुत-बहुत धन्यवाद!
After reading your post, now I am curious about hilo.io
I know about some social networking project targeting Crypto community like sphere.social/hello & Sola.
Well, Hilo.io is exclusively focused on crypto community. The projects you have mentioned are not crypto specific though they may have some channels for crypto like Solo has one for ICOs.
Sphere.social/hello is crypto specific. Because we can earn SAT coin from this site. Tokensale of this coin is ended. You can see more information from http://sphere.social/
By "crypto-specific"I meant to be only for crypto community.
Ok. I understood. Thanks for reply.
I have joined waitlist. All the best!
WOW, it was quick!
All the best to you too!
Haha. Thank you!
Buy EOS :-)
LOL! Waiting for it to fall around .0014 BTC 😊
socializing over cryptos is great!
True, let' see how it goes.
I will have to look into this more and possibly check out the bounty site. Thanks for the information.
You're welcome and thanks for your interest!
I
I'm curious if something will come out of this project. We should keep an eye on it. I doubt if there is a long-term incentive or if it will not get boring quickly if you always have to fulfill the same tasks
I think talks surrounding money which results in regular gains or sometimes a windfall, always keep money oriented individuals glued to it.
Thats right. But you can make money with everything. Even with selling chewing gum papers. But as long as the effort is bigger than the return of money, no one will do it
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My friend was mining bitcoin since 2015. Didn't understand what he was doing then. Now regret it everyday not getting in on it with him.
There is always that next big opportunity waiting for you. Try not to miss it! 😊
It's good that new cryptocurrency-related platforms are emerging but each platform issuing their own token needlessly is certainly not. And the word ICO is one enough to be cautious about.
A short essay on where to buy or trade cryptocurrency can be found at http://buycrypto.work.
And, yes, knowledge is in itself a power (F. Bacon)
Knowledgeable people like you are a must on crypto related social networks to educate others 😉
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