What is Holo (HOT) and how does its innovative hosting system work in the world of cryptocurrencies?

What is Holo (HOT)?

Holo is a decentralized platform for distributed applications that operates on a cloud storage infrastructure. It offers a peer-to-peer market where network participants can serve as hosts for decentralized applications, utilizing their computational power and earning rewards in return.

Holochain serves as the underlying platform that connects users to the internet, with Holo acting as the intermediary. Applications on Holochain are referred to as hApps, distinguishing them from the more commonly known term "Dapps" for decentralized applications. Holo's approach aims to be more efficient and cost-effective for developers working with decentralized applications, achieving its objectives without relying on consensus algorithms typical of blockchain systems.

The ultimate goal of Holo is to create a new iteration of the internet, providing a scalable environment where information is stored, shared, and distributed without the control of intermediaries or central authorities. Using a unique hashing function to reduce operational costs, Holo seeks to transform the internet into a system that benefits individuals rather than corporations.

How does Holo work?

Holo and Holochain differ from traditional blockchain technology in how they verify transactions, generate new blocks, and secure the network. Instead of relying on the conventional blockchain approach, they utilize a special hashing function. Holo is built upon the Holo Distributed Hash Table.

The DHT operates on an agent-centric principle, where a single node can independently verify transactions. Once verified, data is distributed to other nodes for additional verification, ensuring transparency and legitimacy. Scaling the network is achieved by increasing the number of nodes and computational power, a challenge in traditional protocols. However, DHT uses sharding to distribute data and manage network traffic efficiently for hosted applications.

Holochain's unique approach means it doesn't rely on traditional blockchain methods like staking or mining for transaction verification, block creation, and network security.

Who founded Holo? (History of Holo)

Holo was established in 2017 by Arthur Brock and Eric Harris-Braun, headquartered in Gibraltar. The platform aims to facilitate app hosting in a peer-to-peer environment, characterized as a post-blockchain platform utilizing the DHT hashing function.

Holo has raised over $20.4 million across two funding rounds, with the most recent round occurring in April 2018. The project also receives funding from Cardinal Capital.

What makes Holo unique?

Holo stands out due to its architecture, which differs from traditional blockchains. Instead of using blockchain technology, Holo employs a hashing algorithm within a post-blockchain network. This approach allows Holo to operate without the need for staking or mining, unlike many other blockchain-based systems.

Holo's architecture enables users to host and use various applications on its network, referred to as hApps. This decentralized approach creates a peer-to-peer marketplace where users can be compensated for hosting applications developed by others on the Holochain platform. This unique design, combined with the use of the DHT hashing function, sets Holo apart in the cryptocurrency and decentralized application space.

What is the value proposition of Holo?

Holo derives its intrinsic value from its technical capabilities, technology, use cases, and adoption levels. In terms of market value, Holo is influenced by various specific factors, such as the total supply of HOT tokens. The limited supply serves as an anti-inflation measure, potentially making HOT tokens a reliable store of value over time.

Holo's value is also impacted by upgrades, updates, developments, and other news and events. Additionally, its utility and technical capabilities in establishing a peer-to-peer marketplace for hosting applications further contribute to its value.

What is the circulating supply of Holo (HOT) coins?

Holo has a capped total supply of approximately 177.6 billion HOT coins, with 177,619,433,541 already in circulation. The market cap of Holo is calculated by multiplying the total number of coins in circulation by the current price of HOT.

The market cap not only positions Holo relative to other cryptocurrencies but also determines its market share within the cryptocurrency space.

Other technical data

The Distributed Hash Table (DHT) eliminates the need for Distributed Ledger Technology (DLT) in decentralized environments, facilitating the hosting of decentralized applications among network users. Unlike traditional systems, DHT does not require all computing nodes to be operational simultaneously; individual nodes can verify transactions and have their verifications confirmed by neighboring nodes.

This system operates without Proof of Work, Proof of Stake, or other DLT-based consensus mechanisms to create new blocks and validate transaction data. Instead, it relies on DHT, which consumes less energy for similar tasks.

The Holo Host allows anyone to host their applications through the Holo Hosting box, which runs in the background of computers operating nodes with computational power. This post-blockchain architecture enables users to host their apps and lease computational power for hosting in exchange for rewards. Holochain serves as a link between the centralized internet and the decentralized Holo ecosystem.

How is the Holo network secured?

The Holo network's security is guaranteed by the Distributed Hash Table (DHT), which allows individual nodes to verify transactions and participate in block generation. After this initial verification, the data is confirmed by the rest of the nodes on the network. Transaction data is spread across nodes tasked with double-checking it after initial verification by individual nodes.

Neighbor nodes ensure the validity and transparency of data, enhancing network security while maintaining transparency. Holochain's architecture centers on DHT, enabling a scalable and secure post-blockchain network without relying on Proof of Work or Proof of Stake protocols.

Even if a node acts maliciously and validates a false transaction, the network's security is maintained as the rest of the nodes would detect the malicious activity during the data double-checking process.

How to use Holo?

The Holo ecosystem serves as a decentralized marketplace for hosting applications, connecting the Holochain app, where apps are hosted, with the broader internet. Its aim is to shift the internet's focus from corporations to individuals.

HOT coins are the primary currency within the ecosystem, used for transactions. Participants in the network can earn HOT by renting out their computational power for app hosting. HOT can be held as an investment or traded on cryptocurrency exchanges.

HOT was initially intended as an IOU, redeemable for HoloFuel upon its launch. HoloFuel is designed for microtransactions and will be used to compensate hosts. When HoloFuel becomes available, HOT can be exchanged for it at a one-to-one ratio. The HOT tokens swapped for HoloFuel will serve as a reserve currency to ensure liquidity for HoloFuel holders.

How to choose a Holo wallet?

There are various options available for storing HOT, and the choice of wallet depends on your storage needs and usage preferences.

Hardware wallets, such as Ledger or Trezor, offer the highest level of security with offline storage and backup. They are more complex to use and come at a higher cost, making them suitable for storing larger amounts of HOT for experienced users.

Software wallets are another option, available as smartphone or desktop apps. They are free and easy to use, with custodial and non-custodial options. Custodial wallets manage and back up your private keys, while non-custodial wallets store keys securely on your device. They are less secure than hardware wallets but more convenient, suitable for smaller amounts of HOT or beginners.

Online wallets, or web wallets, are free and accessible from various devices via a web browser. They are less secure than hardware or software wallets since you rely on the platform's security. Choose a reputable service for online wallets, best for holding smaller amounts of HOT or for frequent traders.

Kriptomat offers a secure storage solution for HOT, allowing both storage and trading. Their platform provides enterprise-grade security and user-friendly functionality, enabling quick buying, selling, or trading of HOT tokens.

Holo Hashing

As mentioned earlier, Holo differs from other crypto platforms by utilizing a hashing algorithm called Distributed Hash Table (DHT) instead of relying on mining or staking.

DHT ensures transparent processing and verification of transaction data without the need for Proof of Work or Proof of Stake consensus mechanisms. This approach is what sets Holo apart and is why it is referred to as "post-blockchain."

In conclusion, Holo is a unique cryptocurrency project that operates on a specific hashing algorithm, foregoing the use of DLT to create a peer-to-peer market. Its value is derived from its innovative technical approach and scalability for hosting apps, offering a more cost-effective and efficient alternative. This positioning could potentially make Holo one of the leading platforms in the future.

Embrace the cryptocurrency revolution and begin your Holo journey today.