What is Holo (HOT)?

What is Holo (HOT)?

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Holochain offers the underlying technology that enables individuals to connect while maintaining control over the data they exchange. As such, Holo is establishing a link between Holochain users and the regular internet.

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Additionally, Holochain is witnessing significant acceptance as developers embrace new Holochain apps (HApps), providing a more efficient and cost-effective alternative to blockchains.

Additionally, this has been accomplished with far reduced initial and ongoing expenses, rapid transaction completion, and without the need for conventional consensus procedures.

All of this is feasible because of the distributed hash table used by Holochain (DHT). Additionally, the Holo crypto token (HOT) recently achieved fresh all-time highs as the Holochain platform acquired widespread exposure.

 

Component Holo (HOT)
Technologies Holochain, HoloPort, HApps, Distributed Hash Table, HoloFuel
Market Capitalization $1.2 Billion+
Open-Source Yes
Consensus Mechanism Proprietary validation rules
Smart Contracts No
Founders/Authors Arthur Brock and Eric Harris-Braun
Launch Date 2018
Circulating Supply of Coins 173,113,683,517 HOT
Maximum Coin Supply None
Mining-based Coin? No
Is Holo a Stablecoin? No
Does Holo have a burn rate? No
Does Holo have a Whitepaper? Yes, the green paper and the white paper can be viewed here

 

Evolution and Development of Holo

Holo was established by contract developers Arthur Brock and Eric Harris-Braun. The two began working on the project in December 2016 as part of the MetaCurrency Project, a developer of tools and technologies for a future peer-to-peer economy.

Holo was inspired by Ceptr, a cooperative P2P platform for decentralized applications on which the two previously collaborated.

Brock previously worked on alternative currency systems as the creator of Geek Gene, a firm that created community-building technologies, including over a hundred alternative money solutions.

He also co-founded Emerging Leader Labs, a social company incubator, and Agile Learning Centers, an open-source education “starting kit.” Brock was awarded a member of the New Zealand-based Edmond Hillary Fellowship in March 2019.

Harris-Braun began programming professionally in 1988 and is the creator of Glass Bead Software, a peer-to-peer communication software provider, as well as the co-founder of Emerging Leader Labs with Brock.

Harris-Braun Enterprises is a freelance software development and consulting business that was co-founded in 2003. In addition, he has also served on the Schumacher Centre For New Economics' advisory board.

 

What makes Holo unique?

Holochain is an open-source framework for constructing microservices that enable the execution of peer-to-peer applications fully on end-user devices without the need for central servers. It allows its users to:

  • Carry out user authentication and identity management
  • Ensure data integrity and compliance with business requirements
  • Control access to public and private data
  • Automatically react to security concerns by storing and retrieving data from a redundant, distributed database
  • Install and maintain application code on the devices of users
  • Distribute the weight of resources across participants

 

The Holochain suite consists of the following:

  • A runtime environment that monitors and maintains running programs, as well as providing persistence and networking
  • A software development kit (SDK) for Rust developers is a collection of tools for developing and testing applications
  • A comprehensive and immersive development environment

 

Holochain allows developers to easily build fully distributed peer-to-peer web apps. Furthermore, Holochain's emphasis on scalability allows for a worldwide architecture like Twitter or Facebook's without centralized data centres or storage.

 

What are the main uses for Holo?

Holochain is a database for P2P apps where everybody can host their own tamper-proof data, assuring data integrity and state changes. Holochain applications are hundreds of times more efficient than blockchain.

Holochain was created to establish an autonomous distributed internet. Holochain reimagines how people communicate by redefining how data is distributed, stored, and processed. Holochain promises to establish “a more human internet,” free of centralized control and information commoditization. 

Holochain creates an internet that serves people, not businesses, by limiting corporate power. Transacting and communicating with apps without relying on centralized entities is possible with Holochain, and, in addition, Holochain makes it simple to construct distributed Holochain apps (HApps).

Post-blockchain technology also separates data integrity from data security. This is done without using either Proof-of-Work or Proof-of-Stake consensus procedures (more explained later).

 

What is the future potential for Holo?

Recently, Holochain's acceptance has accelerated, with the marketplace accepting several new Holochain apps (HApps). The Holochain framework was created to provide developers with a more cost-effective and scalable alternative to blockchain technology.

The platform is less expensive, lacks traditional consensus procedures, and provides quick transaction completion owing to its distributed hash table (DHT). In contrast to standard blockchains, Holochain is decentralized and does not need mining or staking.

In comparison to the blockchain, the energy required to manufacture Holo coins is little. The platform is based on the concept of “separate source chains,” with independently verified nodes. It allows hosts to run several complete nodes from a single device, including a mobile device.

As a result, Holochain is a more environmentally friendly alternative than standard blockchains. Due to the absence of a mining component in Holochain, it consumes less power, making it a more ecologically friendly alternative.

 

Price analysis on Holo

Holo was initially launched in 2018, and the HOT price statistics over the past four years are as follows:

 

  2018 2019 2020 2021 to date
HOT Price High $0.001872 $0.00243 $0.000907 $0.0284
HOT Price Low $0.000365 $0.000435 $0.000287 $0.000611
Market Cap $191.88M $323.94M $162.85M $4.82B

 

Price prediction on Holo

Holo's price started rising in mid-March 2022, before the patent disclosure. When February 2022 started, the HOT/USD exchange rate has increased by almost 4,000%, jumping from $0.0007 on 1 February to $0.03 today (as of 5 April). Until that point, commerce had been almost stagnant.

In October, an upward momentum resumed, although it was brief, and part of those gains was lost as the price plunged to $0.007492 on 31 December. According to analyst projections, the HOT coin price predictions show that tokens might hit $0.01232 in the first quarter of 2022. Further study indicates that the price might fall to $0.1 in five years.

 

Which wallets are the best option for storing Holo?

The top HOT digital wallets thus far are as follows:

  1. Trust Wallet
  2. imToken
  3. Enjin Wallet
  4. MyEtherWallet
  5. MetaMask

 

1. Trust Wallet: The Trust Wallet is meant to make storing, transferring, and receiving HOLO tokens on the Ethereum blockchain as simple as possible. The greatest thing is that trust wallets allow users to keep their private key on their own device, giving them complete control.

 

2. imToken: imToken is a safe, easy, and powerful smart Digital Wallet that supports multiple tokens, DApps, and HDWallet, as well as an address book and payment push notification, among other functions. It supports the storage of ETH, HOT, DGD, MKR, REP, and GNT, as well as BTC and ERC20 tokens.

 

3. Enjin Wallet: Enjin wallet is one of the most trustworthy wallets in the cryptocurrency market, supporting Bitcoin, Litecoin, Ethereum, ERC20 tokens such as HOT and Enjin tokens.

It has one of the greatest architectures available, including a secure keyboard and dual encryption, which transforms the mobile wallet into a hardware wallet.

 

4. MyEtherWallet: MyEtherWallet (MEW) is a crypto wallet in addition to being an open-source tool for constructing Ethereum-compatible wallets. MEW is a client-side interface for Ethereum's blockchain.

 

5. MetaMask: MetaMask is a bridge that enables users to experience the distributed web of the future now in the browser. It allows users to execute Ethereum decentralized applications directly in their browser without having to run a complete Ethereum node.

MetaMask is a web browser plug-in for Google Chrome, Firefox, and Opera that installs similarly to other Google Chrome extensions or Firefox add-ons.

Additionally, the service is compatible with the new Brave browser. MetaMask is one of the greatest HOT wallets available, and it is set to revolutionize the HOLO community.

Best Bitcoin Wallets are the same as HOT digital.

Where can you buy Holo?

 HOT can be bought, sold, and exchanged on the following crypto exchange trading platforms:

  1. MXC Exchange
  2. ProBit Exchange
  3. Bitrue
  4. FatBTC
  5. LATOKEN

 

1. MXC Exchange: MXC Exchange is a cryptocurrency exchange (MXC.com) that has been operational since 2018. The entity is registered in Singapore, a solid country for digital assets. The platform provides trading and peer-to-peer exchange services to its users. The trading platform's primary focus is on providing customers with crypto/crypto trading services.

 

PROS CONS
The exchange offers more than 120 crypto assets that can be traded Commissions charged are high
Users can earn additional income when they stake and hold crypto assets There is a lack of support for fiat currencies
There is an affiliate program offered  There is mandatory KYC when registering an account

 

2. ProBit Exchange: ProBit Global is one of the top cryptocurrency trading platforms, offering a user-friendly and sophisticated exchange platform with a diverse range of services spanning from crypto trading to initial coin offerings (IEOs).

In comparison to other exchanges, ProBit is based on a strong foundation of authority and distinctive features, and it claims of being the world's quickest cryptocurrency exchange. The platform is capable of processing over 1,500,000 cryptocurrency transactions per second.

 

PROS CONS
There are no mandatory KYC requirements Customer support response is slow
The user interface is well-designed and easy to navigate There is no margin trading
When using the native token of the exchange, PROB, users can expect lower trading fees There are restricted fiat trading options
Users have access to IEOs  
There are multiple trading pairs offered  

 

3. Bitrue: Bitrue is an innovative cryptocurrency exchange platform that enables the cryptocurrency community to purchase safely and easily, trade, transfer, and store their currencies. Bitrue was founded in 2018 by a group of clever crypto specialists lead by a prominent figure in the cryptocurrency sector.

 

PROS CONS
The exchange is feature-rich There are some vulnerabilities on the website
There is a secure two-step sign-in process Fiat currency deposits are not supported
There is a flat fee model with a transparent low fee structure  
There are several trading options provided  
Users can earn high interest from the platform  

 

4. FatBTC:  The FatBTC crypto exchange trading platform is a multipurpose platform for trading crypto assets, commodities, and over the counter (OTC) trading. The site utilizes its own unique FAT currency, which may be utilized to significantly cut costs by 50%.

Trading costs are lower than the current average fixed cost of 0.2% for most major digital assets. Along with the browser-based trading terminal, there is a mobile trading application available.

 

PROS CONS
There are several crypto assets to choose from There are no demo accounts offered
The trading terminal is innovative and simplistic There is no telephonic customer support 
The exchange is known for its low fees  
There are frequent updates to the token pool  
KYC is not mandatory   
There is 24/7 customer support offered  

 

5. LATOKEN: LATOKEN is a decentralized marketplace for trading, purchasing, and selling a wide range of crypto assets and tokens. The exchange trades Bitcoin, Ethereum, Litecoin, Tether, TRX, EOS, HOT, and LA, among hundreds of other assets.

The exchange offers a referral program with bonuses, as well as the opportunity to generate passive income by staking DeFi tokens and investing in growing blockchain businesses.

 

PROS CONS
Users have a wide range of crypto coins that can be traded There are no demo accounts offered 
Users are given a welcome bonus after they complete registration There is no live chat customer support, only a ticketing system and email
There is a referral program and bonus offered Fiat currency is not supported 
There is an innovative mobile application offered to iOS and Android phone users  
The exchange offers competitive trading conditions  
Users can rest assured that their tokens are kept in cold storage  

 

What is Holo’s largest Competitor?

The Internet Computer is the largest competitor of Holo.

The Internet Computer is a blockchain-based platform that allows developers, companies, and entrepreneurs to create and deploy safe, autonomous, and tamper-resistant containers, a natural progression of smart contracts.

The Internet Computer is a blockchain that is hosted on node computers that are maintained by independent parties and are scattered globally.

The nodes execute the Internet Computer Protocol, a sophisticated cryptographic fault-tolerant protocol that assures smart contracts executing on the blockchain cannot be altered or terminated.

Individual subnet blockchains are joined through chain key cryptography to form the Internet Computer. This implies that canisters operating on one subnet may communicate with canisters running on any other subnet of the Internet Computer blockchain effortlessly.

Another significant characteristic of the Internet Computer is that it is governed by a decentralized, permissionless governance mechanism called the Network Nervous System (NNS), which is entirely decentralized and entirely on-chain.

The NNS may make judgments on a variety of subjects, including scaling out the Internet Computer by establishing additional subnet blockchains, upgrading node computers, and adjusting Internet Computer protocol parameters.

Anyone is welcome to engage in governance by submitting new ideas to the NNS or voting on existing ones. To do so, users first stake ICP, the Internet Computer utility token, and then utilize the NNS to establish a neuron.

 

Is Holo a Good Investment?

Yes, Holo is a good investment.

With a distributed hash table, Holochain introduces a new paradigm in distributed and decentralized technology (DHT).

This system, according to Holochain, is a ‘post-blockchain' and uses all the benefits of blockchain. Without the exorbitant upfront expenditures, network congestion, and excessive gas prices associated with many blockchains.

Holo acts as a bridge between the distributed Holochain network and the centralized internet. Holo also allows users to monetise their unused computer resources. Users may generate passive crypto income by trading HoloFuel tokens for crypto or computing power.

 

What is the supply and distribution of Holo?

From March through April 2018, Holo launched its first community offering, which is like an Initial Coin Offering. 177.6 billion HOT were minted via a demand-driven procedure, with 133.2 billion HOT tokens, or 75% of the total, earmarked for public sale and 44.4 billion HOT, with 25% reserved for the team and business. 

 

Is Holo a viable Alternative Coin?

Yes, Holo is a good alternative coin.

  • Hacking – Holo does not have a record of previous successful hacks.
  • Security – Holo secures its network using robust and innovative technologies.
  • Technology – Holo employs several technologies, including Holochain, HoloPort, HApps, Distributed Hash Table, HoloFuel.
  • Potential Investment – Holo has a significant amount of investment potential given its unique technology.
  • Future Uses – Holo has a bright future ahead of it as a programmable peer platform that welcomes DApp/HApp developers.

Any cryptocurrency that isn't Bitcoin is referred to as an altcoin.

What are the differences between Holo and Bitcoin?

The original public blockchain, Bitcoin, required consensus: all nodes (miners) must consent to a transaction. That means transactions were safe but delayed.

A Bitcoin transaction now takes ten seconds, and for a worldwide payment system or high-speed data network, this is unacceptable. One approach is Holochain, with a radical in that it eliminates the concept of only having a single chain.

Although some blockchain solutions suggest several chains, they retain a core chain as defined by Bitcoin's creator, Satoshi Nakamoto.

It argues that instead of one chain, each ‘agent' (computer, cloud etc.) owns one. As a result, millions of chains might interact. The transactions would be logged in both chains.

 

  Bitcoin Holo
Price change 20/21 +400% +840%
Market Cap $800 Billion+ $1.2 Billion+
Past Hacks None None
Popularity Very High Very Low
Altcoin Rank #1 – Original Crypto #86

 

What are the differences between Holo and Ethereum?

Ethereum runs on a blockchain network. A blockchain is a decentralized, distributed public ledger that records all transactions. Cryptography is used to safeguard and verify blockchain transactions.

People use computers to “mine,” or solve complicated mathematical equations, to confirm network transactions and add new blocks to the blockchain. In addition, Ethereum is a programmable blockchain where developers and users can store data and operate decentralized apps. 

A common set of rules is the goal of Holochain, and no one authority may dictate or unilaterally modify those rules. Peer-to-peer contact means individuals own and manage their data, not an intermediary such as Google, Facebook, or Uber, to only name a few.

Data ownership also expands user agency, allowing users to do more with their data, something that can be useful with AI and Machine Learning. This makes composable and adaptable apps significantly more conceivable.

Rather than a monolithic blockchain like Ethereum, where all DApps and transactions occur on the same chain, each Holochain app has its own encrypted peer-to-peer network that communicates solely with other app users.

By design, it is unable to communicate over the network with other applications. If users wish to integrate two applications' data flows, they must do so by executing both apps locally.

 

  Ethereum Holo
Price change 20/21 +880% +840%
Market Cap $460 Billion+ $1.2 Billion+
Past Hacks None None
Popularity Very High Very Low
Altcoin Rank #2 #86

 

What are the differences between Holo and NFTs?

Nonfungible tokens (NFTs) are digital assets that each have a unique value, with no two NFTs holding the same characteristics or value as another. Holo, on the other hand, is fungible, which means that one HOT has the same value and characteristics as another HOT.

 

What are the differences between Holo and BitTorrent?

Holochain is unusual in that it provides each of its applications with its own dedicated network rather than relying on a single blockchain.

Due to the unique methodology, each application may have its own set of standards, protocols, and consensus algorithm. Additionally, this implies that each program has the potential to affect network performance, such as scalability, latency, or throughput.

BitTorrent is a well-known peer-to-peer file-sharing technology that allows users to exchange data and huge files such as movies, applications, and music files freely across the internet.

Rather than downloading a file from a single source, the protocol lets users download fragments of it from several individuals on the internet who have the required file on their computers concurrently.

 

  BitTorrent Holo
Price change 20/21 +0.73% +840%
Market Cap $2.7 Billion+ $1.2 Billion+
Past Hacks None None
Popularity Low Very Low
Altcoin Rank #57 #86

 

What is mutual-credit accounting?

Cryptocurrencies on the blockchain are unlike fiat currency, with tokens generated out of thin air. Bitcoin does this via mining, which enables the miner who completes a difficult processing work first to submit the next block of transactions to the chain, along with a transaction that generates many new coins.

Thus starts the difficult chore of monitoring all coins in circulation to ensure they are neither counterfeited nor double-spent.

Mutual credit is the term for this entirely peer-to-peer technique of creating and controlling a cash supply. When a participant lends credit to another user in a conventional spending transaction, units of money are issued.

 

How does Holo use mutual-credit accounting?

Holo is a peer-to-peer accounting system capable of processing billions of microtransactions every day. Its major purpose is to enable vendors of Holochain applications (HApps) to compensate Holo hosts for their services.

In contrast to other cryptocurrencies, which are mostly utilized for speculation, Holo is not a collection of tokens generated out of thin air.

It is a double-entry cryptographic accounting architecture in which units are produced, transferred, and destroyed now of the transaction.

Holo is supported by the computer power of hosts like you located across the world. That is, it may be redeemed for a useful thing. Holo heralds the dawn of a new age of cryptocurrency supported by human talent.

The overall money supply is associated with the construction and provision of the Holo network's processing capacity. Most cryptocurrencies are conceptualized as digital objects that are recorded on a distributed ledger.

Each user has their own ledger with Holo, which displays the account balance and transaction history of every user. Each transaction needs two individuals to reach an agreement, which is subsequently recorded on their own ledgers and authenticated by network peers.

Mutual credit implies that each credit (positive) has an equal and opposite debit (negative), resulting in a zero net supply in addition to a dynamic circulating supply that is sensitive to its users' real market activity.

Credit restrictions are inextricably linked to a proven ability to repay a negative amount via the provision of hosting resources. Holo may be redeemed directly for hosting services.

As a result, Holo is supported by processing power, a very important commodity in the present day. Because Holo is asset-backed and has a dynamic supply, it can maintain its value without becoming static or needing a peg.

Holo's market value may be optimized in proportion to the cost of hosting, resulting in a constant and stable trajectory.