What Is Holo? All You Need to Know About HOT

For years, data sharing has been dominated by centralized architectures like client/server models. However, with the advent of blockchain technology, a decentralized approach to data sharing has become possible. Blockchain enables peer-to-peer networks to verify and store data, providing increased security and transparency.

Holochain takes this concept even further: it allows developers to build fully decentralized applications by using a peer-to-peer networking system. This enables individuals to create their own secure, scalable, and energy-efficient hosting platforms.

This vision of a decentralized internet is incredibly powerful, enabling developers to build applications that are not beholden to the limitations of traditional centralized architecture. Holo (HOT) is the decentralized hosting platform that is built on top of Holochain, allowing individuals and businesses to take advantage of this revolutionary technology.

What is Holo (HOT)?

Holo (HOT) was created in 2017 as a decentralized hosting platform built on top of the Holochain framework. The project was started by Arthur Brock and Eric Harris-Braun, who had previously founded the Metacurrency Project.

In 2018, Holo raised $20 million in an initial coin offering (ICO) to fund the development of the platform. In 2019, Holo launched its alpha testnet, allowing developers to build and test decentralized applications on the platform. Throughout 2020 and 2021, Holo continued to make progress, launching its beta testnet and building out its infrastructure to support a growing ecosystem of developers and users. As of 2021, Holo is still in development, with the team focused on improving scalability and usability as they work towards a full launch.

Holo’s vision is to create a more decentralized and democratized internet, where individuals and communities have greater control over their data and online interactions. The platform aims to provide an alternative to the centralized hosting model, which can be costly, vulnerable to data breaches, and controlled by a small number of companies.

By leveraging Holochain’s peer-to-peer networking system, Holo enables individuals to create their own secure and scalable hosting environments, where they can host their data and applications. This allows for greater privacy, security, and control, while also reducing the environmental impact of traditional cloud hosting.

How does Holo Work? Agent-centricity and hApps

Holo works by leveraging Holochain’s agent-centric approach to building decentralized applications. Rather than relying on a centralized blockchain, Holochain enables individuals to create their own “agents” - essentially, autonomous nodes that can verify and store data in a peer-to-peer network.

This approach has a number of benefits, including increased scalability, reduced energy consumption, and greater flexibility. Because each agent is responsible for verifying its own data, there is no need for a centralized consensus mechanism, which can be slow and costly.

In the Holo ecosystem, agents can interact with each other through the use of “hApps” - decentralized applications that run on the Holochain framework. hApps can be created by anyone, and can be designed to serve a wide range of purposes, from social networking to e-commerce to gaming.

One of the key advantages of hApps is their flexibility. Because they run on Holochain, they can be designed to work seamlessly with other hApps, enabling developers to create complex, interconnected ecosystems of decentralized applications. This can allow for greater collaboration and innovation, as developers are not limited by the restrictions of a centralized platform.

Another important feature of hApps is their ability to enable greater control over personal data. Because each agent is responsible for storing its data, users can choose to share as much or as little data as they wish, and can revoke access to their data at any time. This can help to mitigate some of the risks associated with centralized data storage, such as data breaches and unauthorized access.

Finally, hApps are designed to be lightweight and energy-efficient, enabling them to run on a wide range of devices. This can help to reduce the environmental impact of traditional cloud hosting, while also enabling greater accessibility for individuals and communities who may not have access to expensive computing resources.

Overall, Holo’s agent-centric approach to decentralized hosting represents a powerful vision for a more democratic and equitable internet. By enabling individuals to create their own secure and scalable hosting environments, Holo is helping to pave the way for a more decentralized and sustainable future.

Source: Holochain.org

This agent-centric approach for data verification and storage replaces the need to depend on traditional consensus mechanisms like Proof-of-Work or Proof-of-Stake. To ensure that the system remains secure and resilient, Holochain relies on a cryptographic signature system to verify the authenticity of data. Each agent has a unique cryptographic keypair that is used to sign and validate data, and data is only accepted as valid if it has been signed by a trusted agent.

Overall, this agent-centric approach to data validation and storage is designed to be more scalable, energy-efficient, and flexible than traditional consensus mechanisms, while also providing a high degree of security and transparency.

Holo Use Cases

As already mentioned, Holo’s agent-centric approach to building decentralized applications on Holochain enables individuals to create their own “agents” and “hApps”, empowering users to take greater control over their data and online interactions. This approach has a wide range of potential use cases. Some of these include:

• Social networks: Decentralized social networks built on Holo could provide greater privacy and control over personal data, while also enabling more secure and resilient communication and collaboration.
• E-commerce: Decentralized e-commerce platforms could provide a more equitable and sustainable alternative to traditional e-commerce models, by enabling individuals to create their online stores and marketplaces.
• Gaming: Decentralized gaming platforms could enable greater community ownership and control over game development and distribution, while also providing more equitable and transparent revenue-sharing models.
• Healthcare: Decentralized healthcare systems could enable more secure and transparent sharing of medical data, while also empowering patients to take greater control over their health and well-being.
• Education: Decentralized education platforms could enable more flexible and personalized learning experiences, while also providing greater ownership and control over educational resources and curriculum development.

Overall, Holo’s decentralized hosting platform has the potential to enable greater equity, sustainability, and democratization across a wide range of industries and communities.

What is the HOT Token?

The HOT token is the native cryptocurrency of the Holo ecosystem, and it is used to facilitate transactions and incentivize network participants. Holo has a total supply of about 177.6 billion HOT coins, out of which 173.4 billion are already in circulation (April 2023).

As a utility token, HOT is used to pay for hosting services on the Holo network, as well as to access and use hApps built on the Holochain framework. Hosts are rewarded with HOT tokens for providing hosting services, while hApp developers receive HOT as a form of payment for their applications.

HOT is also used as a means of exchange between different cryptocurrencies on Holo’s decentralized exchange, enabling users to swap HOT for other tokens and vice versa.

Overall, HOT serves as the backbone of the Holo ecosystem, providing a means of exchange and incentivizing participation in the network. It is also designed to be scalable and energy-efficient, in keeping with Holo’s broader vision of creating a more sustainable and equitable internet.

The HoloFuel Token

HOT tokens were introduced in 2018 through an ICO as IOU tokens that can be redeemed as HoloFuel tokens. HoloFuel serves as both the reward for input on the network and the measure of computational power. It is a mutual-credit currency backed by an asset, which can only be obtained by exchanging computational power on the Holo network.

With the launch of HoloFuel, users can convert their HOT tokens to HoloFuel during the first six months of the Holo beta program. This provides a means for users to participate in the network and to be rewarded for lending their computational power. The primary purpose of HoloFuel is to incentivize hosts to contribute to the Holochain’s mutual-credit accounting system, which can handle billions of microtransactions every day.

Overall, HoloFuel is an integral part of the Holo ecosystem, serving as the medium of exchange for hosting services and decentralized applications on the network. It is a mutual-credit cryptocurrency that rewards participants for their contributions and helps to create a more sustainable and equitable internet.

Holo Ecosystem

The Holo ecosystem is a decentralized hosting platform that enables individuals and organizations to create and host their decentralized applications (dApps) on the Holochain framework. Here are some of the key components of the Holo ecosystem:

• HoloFuel: As already mentioned, HoloFuel is the cryptocurrency used within the Holo ecosystem to facilitate transactions and incentivize network participants. It is used to pay for hosting services and to access and use hApps built on the Holochain framework.
• HoloPort: The HoloPort is a hardware device that enables individuals to become hosts on the Holo network. It is designed to be energy-efficient and easy to use, allowing anyone to participate in the Holo ecosystem.
• HoloChain Apps (hApps): hApps are decentralized applications built on the Holochain framework. They can be created for a wide range of use cases, from social networking to e-commerce and beyond.
• HoloPort Network: The HoloPort Network is a distributed network of HoloPorts that provides hosting services for hApps built on the Holochain framework.
• HoloFuel Wallet: The HoloFuel Wallet is a digital wallet that enables users to store, send, and receive HoloFuel tokens.

The Holo ecosystem, by enabling individuals to create and host their own dApps on a decentralized network, is working towards a more open and equitable internet for all.

Is Holo a Good Investment?

Holo’s concept is unique and interesting because it aims to address the drawbacks of most blockchain infrastructures by offering a more energy-efficient and scalable solution.

Additionally, users can generate passive income by sharing their idle computational resources on the Holo network. This creates a more democratic and equitable internet by allowing individuals to participate in the network and receive rewards for their contributions.

Ultimately, whether or not Holo is a good investment depends on a variety of factors, including market conditions, individual financial goals, and risk tolerance. It is important to conduct thorough research and consult with a financial advisor before making any investment decisions. The Holo network’s promises, though, probably will not come true right away. When that happens, the enormous blockchain industry could be impacted in a good way.

How to Own HOT?

To own HOT, you can use the services of a centralized crypto exchange. Start by creating a Gate.io account, and get it verified and funded. Then you are ready to go through the steps to buy HOT.

News on Holo

In February 2023, the Holochain team announced the release of their new development tools, which are designed to simplify the process of building decentralized applications on the Holo network. These tools include a suite of software libraries, documentation, and code samples that make it easier for developers to create and deploy hApps.

The Holochain team hopes that these new tools will help to accelerate the adoption of decentralized applications and enable a more equitable and sustainable internet. By providing developers with the resources they need to build on the Holo network, the team is working to create a more user-friendly and accessible platform for building and deploying decentralized applications.

The release of these new development tools is a significant step forward for the Holochain project, and it is likely to generate increased interest and participation from developers and users alike.

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