What Is Holo (HOT)?

Holo is a distributed hosting marketplace for peer-to-peer applications. A decentralized peer-to-peer platform allows two individuals to interact directly without any intervention from a third party. It can be understood that what Airbnb is to hotels, Holo is to cloud hosting, i.e., anyone can become a host at Holo by turning their computer into a source of revenue.

As stated in the whitepaper, Holo uses an agent-centric accounting method in which instead of managing a global ledger of coins like in blockchain, each user or account operates its local chain of transactions. Thus there is no need for permission or consensus.

Holo acts as a bridge between the current centralized web and distributed Holochain apps (hApps). Holochain is an open-source framework used to develop fully distributed, peer-to-peer applications. The website claims that hApps are scalable and versatile and, unlike blockchain, require no token or mining. Holochain is a next-generation framework that is comparatively faster, more scalable, cheaper, and more energy-efficient than blockchain.

Furthermore, Holochain combines the peer-to-peer data storage model (DHT) that BitTorrent uses, the tamper-resistant logs (hash chains) that blockchain uses, and the agent-centric approach Git uses. For storing peer contact information for “trackerless” torrents, BitTorrent uses a distributed sloppy hash table (DHT). A hash chain is a repeated application of a cryptographic hash function to a data asset.

Holo software runs in the background and offers spare storage and processing power to serve hApps to the web. Holo aims to make hApps accessible to internet users as the flagship application of Holo built on Holochain.

In other words, HHolo can be called a distributed hosting platform that allows Holochain app developers to host their applications and make them accessible to everyday internet users.

Users can get paid in HoloFuel for hosting peer-to-peer applications. HoloFuel is a Holochain-based currency that is mostly used to pay Holo hosts for their services by Holochain application providers.

HoloFuel is the beginning of a new era of cryptocurrencies. It is not a crypto token or crypto coin, as there’s no mining or staking involved in earning HoloFuel. HoloFuel is a currency that users earn for hosting on Holo. HoloFuel can be redeemed for other currencies to pay bills. Furthermore, HoloFuel can be used as a mutual-credit cryptocurrency for billions of daily microtransactions. 

With Holo, 99% of revenue goes directly to the individuals whose devices are doing the work. The platform charges a 1% transaction fee in exchange for coordinating all of this. This fee applies when hosts transfer, withdraw, or redeem HoloFuel.

HOT (Holo token) is the ERC20 token that converts to HoloFuel once Holo goes live. The conversion rate is 1 HOT = 1 unit of HoloFuel. HOT holders need to redeem HOT for HoloFuel within six months of the network launch.

History of Holo (HOT)

The initial coin offering of Holo was held on February 16, 2018. The supply offered in the ICO was 25,000,000,000 HOT, whereas the maximum available supply is 250,000,000,000 HOT.

The green paper of Holo was released in December 2017. The cofounders of Holo are Arthur Brock and Eric Harris-Braun. Brock has designed over 100 multi-currency solutions via Geek Gene clients. He has worked with top global companies like GM, Chrysler, etc.

Harris-Braun worked as a full-time contract coder during his college days. He has worked for full-stack web, system design, framework design, and peer-to-peer applications.

The lead developer for Holo is Nicolas Luck, who is a full-time Holochain core developer with 16 years of professional coding experience. He is a professional Scrum Master and former blockchain enthusiast.