Get Ahead of the Game: An Overview of Holo Coin’s Features and Benefits
Holo (HOT) is a distributed peer-to-peer platform for hosting Holochain-based decentralized applications developed without blockchain. Holo aims to create an environment and marketplace where DApps can be easily accessed by Holo network participants through Holochain-based bridge applications.
The Holo network uses a token called HoloFuel to compensate servers for their services. An ERC-20 token called HOT, also known as HoloToken, was issued as an “IOU” for HoloFuel at the project’s debut in 2018.
What Exactly Does Holochain Do and How Is It Used?
Holochain is an open-source framework for developing fast and secure peer-to-peer applications. In Holochain applications, users’ devices connect directly over secure networks instead of relying on multiple servers. With Holochain, application developers no longer need to manage and pay for cloud hosting themselves.
Holochain follows an agent-centric strategy that focuses on the user’s computing experience. This is not just a nice-sounding idea, it is the foundation on which Holochain is built. On your device, apps create their own identities and data. Open programming interfaces guarantee continuous access, while consent-based permission control protects against unwanted use.
Apps are more effective when they connect users to others. Each Holochain app creates its own peer-to-peer network that is secure between you and other users. This means that your communications cannot be processed, controlled or shut down.
Mutual accountability facilitates online security. Every record is linked to its source through a cryptographic audit trail, and every user contributes to the implementation of shared best practices and the identification of malicious actors. Holochain’s “subliminal” system responds to detected threats and adapts to network outages to ensure a secure and reliable experience.
Who Built the Holo Chain System?
Holo was founded by contract programmers Arthur Brock and Eric Harris-Braun. The foundation of the project was laid in December 2016. Initially, the project was a component of the MetaCurrency Project, which developed tools and technologies to power the P2P economy. Holo is based on Brock and Harris’ previous Braun project, Ceptr, a collaborative P2P framework for DApps.
Arthur Brock, founder of Geek Gene, a community-building technology company, has experience in developing alternative monetary systems. He is also the co-founder of Emerging Leader Labs, a social entrepreneurship incubator. Eric Harris-Braun is the second co-founder. Brock is also the co-founder of Agile Learning Centers, an open source educational “starter kit”.
Harris-Braun started using computers in 1988 and is the creator of Glass Bead Software, a peer-to-peer communication software company. In 2003, Harris-Braun founded Harris-Braun Enterprises, a software development and consulting company. He has also served on the advisory board of the Schumacher Center for the New Economy.
What Makes Holo Different?
Holochain offers an alternative to the Internet’s predominantly centralized systems by preserving its users’ ability to make independent decisions and providing actionable information that can be trusted. It preserves our ability to interact freely while providing security through mutual accountability and shared agreements.
Holo is intended to act as a bridge between users and Holochain represents cryptotechnology. Holo highlights a number of breakthroughs, including “the ability to fundamentally change the landscape of crypto applications and currencies” and the ability to host P2P applications for Internet users.
The Holo Network consists of a collection of servers that provide hosting and processing capacity for Holochain-based DApps. Hosts are either set up with software that automatically provides additional processing power for Holochain-based DApps, or hosts are powered by a dedicated machine such as a HoloPort. In exchange for this action, the hosts receive compensation from HoloFuel. HoloFuel is a token for microtransactions only.
The project’s business model focuses on creating a P2P ecosystem of hosts and apps, equating the expected impact on the app hosting industry to that of Uber and Airbnb on the taxi and hotel industries, respectively. Holo charges a fee for HoloFuel transactions, so its business model is closely tied to increasing the number of apps and hosts on the network.
How will Holochain be implemented going forward?
Single agent: The Holochain implementation is somewhat unique compared to other implementations. It starts with a specific agent function. In this case, you run your own copy of the app, your name and data are published on your device, and no transactions take place without your permission. All the data you generate is encrypted with your private key and stored in your personal log.
Holo’s Common Standards
At the heart of the application is a set of rules that determine the format of valid data. Since each user has their own copy, they can hold each other accountable. The rules form a social contract. Malicious participants are objectively identified and news of their behavior spreads quickly. They are soon separated from the others.
Mutual sovereignty: since all app users have the same powers and duties, there is a balance between freedom and responsibility. This is called mutual sovereignty. This ensures secure execution of the application when there is no server to enforce the rules.
What is Holo Resource (HOT)?
Holo carried out an “initial deployment” from March 2018 to April 2018. As a result, 177,619,433,541 HOT were issued in a demand-driven timeframe, with 133.2 billion HOT (75%) for public sale and 44.4 billion HOT (25%) for use by teams and companies. There is no locking period or locking conditions for team tokens.
The exchange rate between HOT and HoloFuel tokens is one-to-one. HoloFuel does not have a supply limit. Instead, it is dynamic and has a credit system. This allows negative balances for users. The supply is managed algorithmically, decreasing and increasing depending on the fluctuating relationships between users with negative and positive balances. Holo aims for the token price to be reasonably stable from one moment to the next and not subject to erratic and speculative price changes.
Is Holo Chain Secure?
The Holo network acts as a link between the centralized Internet and Holochain, which is not based on standard blockchain technology. Hence, network security does not depend on a global agreement. Instead, each DApp has its own set of verification rules and a local hash chain to store cryptographically signed records. When data is sent between multiple nodes, peers are randomly selected to serve as authenticators. These peers receive the data and verify that it conforms to the appropriate regulations. The validators use a “gossip protocol” to share good data with each other, alert each other to bad data, and blacklist malicious players.
The development team claims that Holo should be as decentralized as possible. The connection between hosts and applications is password protected throughout, and the Holo server network is distributed worldwide.