What is Holo?

HOT has secured its place in many traders’ portfolios. However, before you Trade HOT, it is vital that you understand what you are investing in. Let's find out what's HOT and how it functions.

Holo is a decentralized, peer-to-peer network that supports DApps developed using the Holochain architecture, eliminating the need for blockchain technology. Using Holo, members in the Holo network host decentralized applications (DApps) on the internet, bridging the gap between the internet at large and apps developed with Holochain and creating an ecosystem and marketplace where DApps may be readily discovered and used

The HoloFuel token pays host on the Holo network for their services and assist the network's operations. The project also issued an ERC-20 token in 2018 called HOT (also known as HoloToken), an IOU payable for HoloFuel.

How is Holo different?

Its green paper, states that Holo's primary function is to facilitate communication between Holochain (representing the realm of crypto technology) and regular people. It is said that this project would enable a large shift in the landscape of crypto applications and currencies, which includes the possibility to host P2P apps on the internet for regular users.

To function, Holochain-based DApps require a host computer, which is one of the nodes in the Holo network. Hosts may run a specialized workstation like a HoloPort or install software on their PC that runs in the background and allocates additional processing power to Holochain-based DApps. The hosts are compensated in HoloFuel; a currency developed for microtransactions. As envisioned, HoloFuel will equip the Holo network to handle billions of transactions in parallel.

The project's business concept revolves around creating a P2P ecosystem of hosts and apps, with an impact on app hosting similar to that of Uber and Airbnb in the taxi and hotel sectors. Since Holo's business model depends on fees from HoloFuel transactions, it stands to reason that the more hosts and apps there are, the better off the company will be financially.

How many HOT tokens are there?

From March 2018 until April 2018, Holo ran a initial community offering Through a demand-driven process, a total of 177.6 billion HOT were created, with 133.2 billion HOT (75%) released to the public and 44.4 billion HOT (25%) retained by the team and organization. There were no time restrictions or vesting requirements for team tokens.

After the release of HoloFuel, HOT tokens will be convertible into HoloFuel tokens at a rate of one-for-one. To ensure that holders of HoloFuel have access to liquidity, Holo announced in January 2019 that any swapped HOT would be held as a reserve currency rather than being burnt immediately.

Supply of HoloFuel will be unconstrained. Instead, it is built to adapt to its customer's needs and has a credit system that even allows for negative balances. The supply will be algorithmically managed, reducing and increasing in response to demand as user connections with negative and positive balances alter. This is what Holo hopes will keep the value of its tokens reasonably steady over time as opposed to wildly fluctuating due to speculation.

Network Security

The Holo network links the centralized internet and Holochain, which does not use the same blockchain technology as other cryptocurrencies. Network security is, therefore not dependent on a unanimous consensus. Instead, each DApp has its own local hash chain on which it may store cryptographically signed information and its own set of validation criteria. Random peers operate as validators, receiving data and checking that it complies with the proper rules when data is transferred through many nodes. Validators employ a gossip protocol to spread reliable information and alert one another to, or even blacklist, sources of false information or malicious actors.

Developers claim they made Holo as decentralized as possible to avoid giving any single organization undue influence. Holo employs a globally dispersed network of servers, and the communication between hosts and apps is encrypted end-to-end.

Founders

Arthur Brock and Eric Harris-Braun, two seasoned contract developers, established Holo. In December 2016, the two began working on the project as part of the MetaCurrency Project, which creates tools and technologies to fuel a future P2P economy. While developing Holo, the two developers took inspiration from Ceptr, a cooperative P2P architecture for decentralized applications.

As the creator of Geek Gene, a firm that created community-building tools including over a hundred alternative currency solutions, Brock already had expertise creating such systems. Both the open-source education starter kit Agile Learning Centers and the social-enterprise incubator Emerging Leader Labs were developed by him. As of March 2019, Brock is a member of the Edmond Hillary Fellowship community in New Zealand.

Harris-Braun has been a developer since 1988, and she and Brock founded Emerging Leader Labs together. Harris-Braun is also the creator of Glass Bead Software, a company that makes peer-to-peer communication software. He co-founded Harris-Braun Enterprises, a freelance software development and consulting business, in 2003. He has also been involved with the Schumacher Center for New Economics as a member of its advisory board.

Where can you buy HOT?

HOT is available on the licensed cryptocurrency exchange CryptoForce and several other national and international exchanges

Disclaimer: Cryptocurrencies are highly volatile and subject to market, technical, and regulatory risks. Crypto trading requires one’s own diligence, and Cryptoforce will not be responsible for any losses incurred. Any information provided here should not be regarded as Cryptoforce’s technical or financial advice