A Review of HAPI Protocol (HAPI): Should You Invest in this Token?
The HAPI Protocol (pronounced Happy) is a second layer of web3 security, providing unrestricted, business- and user-centric cybersecurity solutions. This blockchain network helps implement security standards on various products, including crypto wallets, DeFi protocols, centralized and decentralized exchanges, etc. HAPI is short for Http-API.
The HAPI Protocol has become a key player in the blockchain industry as it prevents and interrupts any malicious activity within the blockchain space. It leverages on-chain and off-chain data, combining crypto intelligence data from multiple sources to accurately identify malicious activity and compromised wallets.
We at LetsExchange have taken a closer look into this project. Here, we summarize our findings. We also review HAPI, this network’s utility token, and discuss its potential as an investment.
How the HAPI Protocol Works
The HAPI Protocol enables anyone to report malicious players in the crypto space. The system stores reports in a database, and users on the network are alerted via real-time updating and live monitoring. These trustless oracles are core components of the network since they provide real-time data to applications. Anyone meeting the minimum requirements for quality and availability can operate as a decentralized oracle. The HAPI Token plays an essential role since oracles are rewarded with HAPI for the information they provide.
To benefit from the security information the HAPI Protocol accrues, developers can use many helpful tools to integrate it into third-party applications and products. The HAPI Protocol makes available a plugin library that is constantly updated with key components for decentralized applications (DApps). The communication between the HAPI Protocol and third-party DApps occurs through a dynamic API, which can support routing, input, output validation, caching, and other features.
With the above process, the HAPI Protocol effectively improves security in blockchain environments by providing developers with real-time network security and wallet monitoring. For instance, when a smart contract in a DApp is compromised, developers are alerted to thwart a more significant attack. This way, crypto exchanges and similar platforms could prevent money laundering, exploits, and hacks, which is paramount for providing users with a secure and efficient trading environment.
Integrating HAPI solutions is relatively easy for developers. The HAPI Protocol supports many customization options and plugins, enabling developers to quickly create robust and reliable DApps. To meet the different needs of DApps and crypto-related products, the HAPI Protocol offers various solutions, namely:
- On-chain risk scoring protocol,
- Aggregated audits database,
- Branching transaction visualizer,
- Risk assessing suite,
- Liquidity pool monitoring,
- Crowd-sourced data aggregation,
- Automated token security auditor,
- Automated risk alerts,
- OSINT database.
Users, including enterprises, security forces, and governmental agencies, can choose between several plans to use the above tools. The HAPI Protocol can help reduce security costs for large-scale crypto projects. Integrating security protocols on blockchains is tedious and time-consuming, translating into high development costs. The HAPI Protocol offers various security defaults, such as signed cookies, secret rotation, and HTTP security headers designed to improve coding times.
In summary, the main advantages of the HAPI Protocol for securing blockchains are:
- Reduced development costs,
- Operation across multiple blockchains,
- Easy integration via a high-performance API,
- Real-time alerts about potential cyber threats,
- Low-cost, effective blockchain protection.
HAPI Token (HAPI) as an Investment
The HAPI Protocol’s utility token is named HAPI and is primarily used to pay for services on the network. Users must hold HAPI tokens to access the plugin library to integrate the protocol’s features into their DApps and products. HAPI also enables holders to join the HAPI decentralized autonomous organization (DAO) and participate in governance by staking their HAPI tokens. The table below summarizes relevant data about HAPI as of January 30, 2024.
Coin Name | HAPI Protocol |
Coin Symbol | HAPI |
USD Price | $24.10 |
Market Cap | $17,181,220 |
24h Trading Volume | $739,133 |
Maximum Supply | 1,000,000 HAPI |
According to CoinMarketCap, HAPI hit the open market on March 10, 2021, at $108.6. A few days later, on March 21, the HAPI price reached its all-time high of $211.8. Unfortunately, the HAPI token significantly lost value in the years after its launch. We cannot ignore the impact of the bear market of 2022, one of the worst years for practically all cryptocurrencies. But as the market shows signs of recovery, so does the HAPI token. The HAPI price has grown more than 28% since the beginning of this year, trading at about $24.1 as of January 30, 2024. Will this uptrend continue in the coming years? Let us see.
HAPI Token (HAPI) Price Prediction
HAPI price predictions for 2024 are favorable. DigitalCoinPrice predicts a maximum HAPI price of $52.8 this year. PricePrediction is even more optimistic, indicating a maximum of $61.5, a 155% growth compared to the current trading price of $24.1. PricePrediction shows that HAPI could reach $89.5 and $133.8 in 2025 and 2026, respectively. Hence, investing in HAPI at the current $24.1 could yield 271% and 455% returns by 2025 and 2026, making this token a profitable short-term investment.
In the long run, HAPI also has promising perspectives. DigitalCoinPrice expects this token to trade at a maximum price of $250.5 in 2031. If you think this prediction is good, wait to see what PricePrediction forecasts. Accordingly, HAPI will trade at a maximum of $830.7 in 2031, a whopping 3,347% growth compared to the current trading price of $24.1. The HAPI price could explode in the distant future, reaching $30,844.8 in 2040 and $41,552 in 2050. Notably, this token has a limited supply of only 1,000,000 HAPI, which could contribute to the tremendous price growth predicted for the next decades.
Our Verdict
The HAPI Protocol is one of the projects to watch in 2024. The HAPI ecosystem consists of multiple DApps that help improve cyber security across the blockchain space. HAPI effective solutions significantly lower the costs of integrating and maintaining security protocols and real-time network monitoring. Blockchain security is a valuable niche for DeFi, exchanges, and other crypto-related products. The HAPI Protocol is disrupting this niche. Consequently, its utility token, HAPI, also has excellent perspectives as an investment for the coming years. Considering the current low price of the HAPI token, this might be the ideal moment to invest in this crypto asset to reap profitable returns in the short and long run.
You can buy HAPI at competitive rates without hassle on LetsExchange.io.
Disclaimer
Please keep in mind that the above information is based exclusively on our observations and is provided for informational purposes only. It doesn’t constitute any kind of financial advice nor represents an official forecast. Cryptocurrency is a highly volatile asset, and you are investing in it at your own risk.