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What is Holo and how does it work?
Holo is a peer-to-peer distributed platform for hosting decentralized applications built using Holochain, a framework for developing DApps that does not require the use of blockchain technology. Holo fulfills on the promise of blockchain by leveraging the scalable architecture of Holochain to accomplish two primary feats: Enable fully-functional decentralized applications (far more sophisticated than smart contracts) to serve mainstream Internet users, and provide the massively scalable crypto-accounting infrastructure required to host and manage applications at such enormous volumes of usage.
The goal of Holo is to serve as a bridge between the broader internet and apps built using Holochain, offering an ecosystem and marketplace in which DApps are easily accessible, as they are hosted on the internet by Holo network participants.
The Holo network will be facilitated using a token called HoloFuel, which acts as an accounting system to pay hosts for their services. In 2018, the project minted an ERC-20 token, $HOT — also known as HoloToken — as an "IOU" that will be redeemable for HoloFuel upon launch.
Holo is designed to act as a bridge between Holochain, which represents the world of crypto technology, and everyday users. The project highlights several innovations that it says will "enable a large shift in the landscape of crypto applications and currencies," including the ability to host P2P apps on the internet for mainstream users.
The Holo network relies on a series of hosts that provide storage and processing power for DApps built using Holochain. Hosts either install software on their computer that runs in the background and automatically allocates extra processing power to Holochain-based DApps, or they operate a dedicated machine such as a HoloPort. In exchange, hosts are paid in HoloFuel, a token that is specifically designed for microtransactions. The design of HoloFuel is expected to allow the Holo network to process billions of simultaneous transactions.
The project's business plan centers on building a P2P ecosystem of hosts and applications, comparing its intended effect on app hosting to that of Uber and Airbnb in the taxi and hotel industries, respectively. Holo charges a fee on HoloFuel transactions, so its revenue model is directly tied to growing the number of applications and hosts on the network.
Answers
What Is Holo (HOT)?
Holo is a decentralized platform for hosting DApps built using Holochain. It acts as a bridge between the broader internet and Holochain apps, providing an accessible ecosystem and marketplace. HoloFuel is the token used to pay hosts for their services, and HOT is an ERC-20 token that will be redeemable for HoloFuel upon launch. Holo is expected to launch for open alpha and beta testing by 2021.
Who Are the Founders of Holo?
Holo was founded by Arthur Brock and Eric Harris-Braun. They started working on the project in 2016 as part of the MetaCurrency Project. Brock has experience in alternative currency systems and co-founded social-enterprise incubator Emerging Leader Labs. Harris-Braun is the founder of Glass Bead Software and has served on the advisory board of the Schumacher Center for New Economics.
What Makes Holo Unique?
Holo aims to bridge the world of crypto technology and everyday users. It enables hosting of P2P apps on the internet for mainstream users. The Holo network relies on hosts who provide storage and processing power for Holochain-based DApps. Hosts are paid in HoloFuel, and the network is designed to process billions of simultaneous transactions. Holo charges a fee on HoloFuel transactions to grow the network.
How Many Holo (HOT) Coins Are There in Circulation?
A total of 177.6 billion HOT tokens were minted through an initial community offering. 133.2 billion HOT (75%) were allocated for public sale, and 44.4 billion HOT (25%) were reserved for the team and company. HOT tokens can be swapped for HoloFuel tokens at a one-to-one ratio. HoloFuel has no supply limit and incorporates a credit system.
How Is the Holo Network Secured?
The Holo network does not rely on global consensus like traditional blockchains. Each DApp has its own validation rules and local hash chain. Validators verify data and use a gossip protocol to share good data and warn of bad data. Holo aims to be decentralized and uses end-to-end encryption for host-application connections.
Where Can You Buy Holo (HOT)?
HOT can be purchased on exchanges such as Binance, Bitrue, ProBit Exchange, and MXC.COM. It can be traded against fiat currencies, cryptocurrencies, and stablecoins on spot markets.
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