The price Holo today is 0.005953 USD, and the trading volume in 24 hours - 192,187,460 USD. The crypto asset has grown by 13.37% over the day. Currently, the coin’s market capitalization is 1,027,927,517 USD, and has 172,673,864,848 coins in circulation with the max supply of 177,619,433,541 coins HOT.
What is Holo (HOT)?
Holo is a peer-to-peer distributed platform for hosting decentralized applications created using Holochain, a framework for developing DApps that does not require the use of technology blockchain. Holo's goal is to serve as a bridge between the wider Internet and applications created using Holochain, offering an ecosystem and market in which DApps are readily available as they are hosted in Internet members of the Holo network.
The Holo network is supported using a token called HoloFuel, which is actively tested and will act as an accounting system to pay hosts for their services. In 2018, the ERC-20 token, HOT, also known as HoloToken, was released as part of the project as a debt receipt that will be repaid for HoloFuel at launch.
Holo is still in development and is expected to launch for open alpha and beta testing in 2021.
Who are the founders of Holo?
Arthur Brock holds the title of Chief Architect in the Holochain team, as a senior developer with many years of experience with artificial intelligence and alternative currency projects. David Meister is the creator of the Holochain core and Eric Harris-Brown is the executive engineer for Holochain. Together with Brock, he is one of the co-founders of the project.
What is the uniqueness of Holo?
Holo is a technical mainstay and part of a wider ecosystem that also includes the Holo token (HOT), as well as the Holo platform for hosting Holochain (Happs) applications in the cloud.
At the end of 2018, the platform experienced a kind of price boom, attracting attention from both mainstream media , developers and end users to its an offer to try to “think outside the box”. Since the “blocks” are primarily related to Bitcoin and blockchain, the Holo project promised to solve all their problems by changing the technology from scratch.
Holo developers believe that the Proof-of-Work (PoW) consensus model has exhausted itself in terms of being able to handle more transactions and wider adoption. Instead of the resource-intensive PoW method, which perhaps consumes large amounts of electricity and does not scale well, the Holo project takes an “agent-centric approach” to reality data in which participants shared their own “realities” based on established rules. Just as holograms are created from multiple light sources, the Holo platform is built on combining the realities of individual data (hence the project name).
Blockchain is believed to be hampered by its dependence on support of a system in which all participants share a single global state represented by a registry containing the entire history of transactions in the chain . Holochain transcends blockchain architecture and completely removes models based on a single registry and consensus. Instead, it uses a Distributed Hash Table Storage (DHT) system borrowed from a torrent technology in which parts of a single file are stored from different users rather than loaded from one source. This system allows Holo nodes to piece together puzzle pieces from different users and create a unified view of the state of their chain.
In case users want to make changes to a system that verifies consensus, their flexibility is limited if they do not want to use various hard or soft-forks. Limited maneuverability regarding consensus rules is considered harmful to the efforts of decentralized application developers (DApps). In response, the Holo project implemented a DNT system that defines basic validation rules in the chain (its “physics”), with the ability to develop each DApp based on certain custom rules in his own chain unless they contradict the overall DNT of the system.
The project's business plan focuses on building a P2P ecosystem of hosts and apps, comparing the supposed impact on app hosting to the Uber and Airbnb effect for taxi and hospitality respectively. Holo charges fees for HoloFuel transactions, so its revenue model is directly linked to the growth of apps and hosts on the network.
How many Holo (HOT) coins are in circulation?
As of February 2021, 67,636,476,689 HOT coins were in circulation, with no maximum offer.
How is Holo's network protected?
The Holo network acts as a bridge between the centralized Internet and Holochain, which does not rely on traditional blockchain technology. So it does not rely on global consensus to protect its networks. Rather, each dApp has its own set of verification rules and a local hashing chain in which it can store records with a cryptographic signature.
According to its development team, Holo is designed to be as decentralized as possible, and reduce the risks associated with giving any one organization too much power. The connection between hosts and applications is encrypted from end to end, and Holo uses a globally distributed network of servers.
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