Holo

What is Holo (HOT)?

HOT is the native token of Holo, a blockchain platform that hosts decentralized applications (dApps). It works alongside Holochain, a DeFi solutions development platform. It is a peer-to-peer (P2P) service that connects users of the Holo ecosystem with Holochain developers through access to applications.

Holo is ERK-20 token. The platform is still in alpha/beta stage and some features and tokenomics may change after the mainnet launch. You can take a look at Holo’s price trends in the chart above.

Who founded Jolo?

Holo was co-founders Arthur Brock and Eric Harris-Brown. Brock is a self-proclaimed culture hacker and crypto platform designer. He creates decentralized cryptocurrencies and blockchain architecture. Harris-Brown has over thirty years of programming experience. He founded several other software companies.

At the time of writing, the Holo mainnet has not yet launched. However, the platform held an initial community offering in 2018. During this event, Holo’s price was around $0.001.

The two founders began working on Holochain in 2016. The goal was improve the everyday usefulness of blockchain-based applications for everyday users who may not be familiar with the technology itself. However, the Holochain development environment lacked practical coverage, which led to the creation of the Holo crypto project.

In 2017, Brock and Harris-Brown, along with a group of researchers, released the first version of the Holographic Green Book. Here they outline the key ideas and goals of Holo:

• Improve the distribution of decentralized software such as Holochain;
• Provide users with greater digital decentralization and autonomy;
• Allow app hosts to earn credits by providing storage.

Although the asset was volatile, its value remained low. Market fluctuations have increased in 2021. On April 5, the HOT price reached its highest price for 2021 and exceeded $0.03.

What are the uses of Holo?

During the initial community offering, 177.6 billion HOT tokens were minted. 75% of this offering has been allocated for public sale, with the remaining amount locked up for future use by the team. Since the main network is not yet available, the protocol may be changed. Therefore, the price and offer of Holo may change after the official launch..

According to the protocol, the HOT token is designed for inflation. However, the team intends to create an algorithm that will control the overall supply. It will reduce and increase supply depending on demand. Users will be able to have a negative balance using the digital credit system. These measures should help make the HOT price more stable.

The Holo network is described as a distributed marketplace similar to a cloud hosting system. It is used primarily to host dApps built on Holochain. Essentially, it connects the Holochain development environment to end users using a P2P model. Application storage is partially decentralized and uses one of two types of hosts:

• Software – hosts that download special software to run in the background of their device and provide the necessary computing power;
• HoloPorts – users using special storage devices.

Besides HOT, the Holo ecosystem also uses HoloFuel Tokens. These tokens were created specifically for use in microtransactions. You can earn HoloFuel by providing hosting and storage services on Holo. The platform supports a wide range of development projects, including DeFi solutions, blockchain management tools, decentralized social networks and others.

Holo aims to offer high-speed transactions by processing a large number of transactions simultaneously. All HoloFuel transaction fees are quoted with HOT price. Once the Mainnet is launched and HOT is exchanged for HoloFuel, the remaining Holo tokens will be used as liquidity and held in reserve.

Like a bridge Holo does not use traditional consensus mechanisms. to improve network security and integrity. The system allows each decentralized application to use its preferred data verification method. Information will be stored in local hash chains that vary from dApp to dApp.

Both Holo and Holochain use gossip protocol, allowing the network to transmit and verify data more efficiently. Each network node knows several other nodes to which it forwards data. In turn, these nodes forward data to other nodes known to them. The chain continues until all nodes have the same information to verify.

The Holo ecosystem is working to improve the scalability of the blockchain. Instead of constantly synchronizing data, consensus is achieved through private forks of each dApp. Users decide when data should be synchronized, thereby reducing network load. This also makes Holo energy efficient as it requires less bandwidth than other blockchains.

Many aspects of the Holo crypto environment are still under development and are subject to change. Some users may participate in the testnet and provide feedback. It is expected that once the mainnet of the Holo network launches, users will be able to trade their tokens at the same price between HoloFuel and Holo.