Holo is a decentralized peer-to-peer platform designed to host distributed applications (DApps) using Holochain, a framework that doesn't rely on traditional blockchain technology. The primary aim of Holo is to connect the wider internet with Holochain-based applications, providing an ecosystem and marketplace where these DApps are easily accessible, as they are hosted online by participants of the Holo network.
The network's functionality will be supported by a token known as HoloFuel, which is currently undergoing testing and will serve as a payment system for compensating hosts for their services. Back in 2018, the project released an ERC-20 token named HOT, or HoloToken, as a sort of "IOU" that will be exchangeable for HoloFuel once it officially launches.
Holo is still under development, with plans to roll out alpha and beta testing phases open to the public by 2021.
Who Are the Founders of Holo?
Holo was established by Arthur Brock and Eric Harris-Braun, both seasoned contract programmers. Their collaboration on the project began in December 2016, under the umbrella of the MetaCurrency Project, which focuses on building tools and technology to drive a peer-to-peer economy of the future. Holo takes inspiration from Ceptr, a cooperative peer-to-peer framework for DApps previously developed by the duo.
Brock has a background in creating alternative currency systems and founded Geek Gene, which offered tools for community building and over 100 alternative currency solutions. He also co-founded the social-enterprise incubator Emerging Leader Labs and established Agile Learning Centers, an open-source education initiative. In March 2019, he was honored as a fellow of the Edmond Hillary Fellowship based in New Zealand.
Harris-Braun has been deeply involved in programming since 1988 and founded Glass Bead Software to develop peer-to-peer communication software. Alongside Brock, he co-founded Emerging Leader Labs. In 2003, he helped establish Harris-Braun Enterprises, a software development and consulting firm, and has also been an advisory board member for the Schumacher Center For New Economics.
What Makes Holo Unique?
According to its "green paper," Holo aims to serve as a connector between Holochain, representing the realm of crypto technology, and regular users. The project outlines several novel features intended to "facilitate a substantial transformation in the landscape of crypto applications and currencies," such as enabling mainstream users to host peer-to-peer apps on the internet.
The Holo network functions through a network of hosts that supply storage and computational power for DApps built on Holochain. Hosts can either install software that operates in the background on their computers, automatically allocating unused processing resources, or manage a dedicated device like a HoloPort. In return, hosts are compensated with HoloFuel, a token specifically tailored for handling microtransactions. The structure of HoloFuel is anticipated to support processing billions of transactions simultaneously.
Holo's business strategy focuses on developing a peer-to-peer ecosystem of hosts and applications, much like how Uber and Airbnb revolutionized the taxi and hotel industries, respectively. The platform takes a percentage from HoloFuel transactions, meaning its revenue model is directly linked to the expansion of applications and hosts on its network.
How Many Holo (HOT) Coins Are There in Circulation?
Holo conducted an "initial community offering" from March to April 2018, resulting in the creation of 177.6 billion HOT through a demand-driven process. Of this total, 133.2 billion HOT (75%) was made available for public sale, while 44.4 billion HOT (25%) was reserved for the team and company. Team tokens were distributed without any vesting or lock-up periods.
Upon the introduction of HoloFuel, HOT tokens will be exchangeable at a one-to-one rate for HoloFuel tokens. In January 2019, Holo announced that the swapped HOT would not be immediately destroyed but instead retained as a reserve currency to maintain liquidity for HoloFuel holders.
HoloFuel will operate without a supply cap. It is designed to be flexible and include a credit system that permits users to carry negative balances. The supply will be managed algorithmically, expanding and contracting based on demand and the balance between users with deficits and surpluses. Holo's intention is for this system to maintain the token's price stability, minimizing drastic, speculative price fluctuations.
How Is the Holo Network Secured?
Serving as a link between the centralized internet and Holochain, which does not depend on conventional blockchain technology, the Holo network does not require global consensus for securing its networks. Instead, each DApp has its own validation rules and maintains a local hash chain for storing cryptographically signed records. When information is transmitted across various nodes, random peers act as validators, ensuring the data complies with the necessary rules. Validators employ a gossip protocol to share valid data amongst themselves and alert against malicious data or perpetrators.
The development team asserts that Holo is engineered to be as decentralized as possible to mitigate the risks of concentrating power in any single entity's hands. The link between hosts and applications is encrypted end-to-end, and Holo leverages a globally dispersed network of servers.
Where Can You Buy Holo (HOT)?
HOT tokens are available for purchase on cryptocurrency exchanges like Binance, Bitrue, ProBit Exchange, and MXC.COM, among others. They can be traded on spot markets against fiat currencies such as the U.S. dollar and the euro, alongside cryptocurrencies like Bitcoin (BTC) and Ether (ETH), as well as the stablecoin Tether (USDT).
Are you considering investing in HOT or exploring other digital currencies like Bitcoin?
