Holo [HOT] is a cryptic currency for a peer-to-peer and friendly Internet.
Holo (HOT), its main principles can be described in three words: creation, distribution and profit, holochain price prediction.
This digital asset is an internal token of the Holochain project.
It is designed to store, calculate and distribute data based on block Ethereum technology, but it's more advanced version. So what is Holo, what is it intended for and what can interest users? All details about Holo cryptology are in this article.
History of the project and digital asset Holochain
The concept of the project and architecture of Holochain
Holo cryptocurrency and Holo Fuel "tokens": what are the differences?
Mining of Holo Cryptocurrency
What to expect from Holo - prospects and forecast for 2020 Holo Cryptocurrency: user feedback
History of the project and digital asset Holochain Holochain - a young project, started its way in early 2018.
In January White Paper was presented, and in three months ICO started. Initial Coin Offering lasted from the end of March to the last day of April. And a month later the ICO completion field reached $130 million, which is quite a good result for the start. The developers of the project, first of all, were worried that the released tokens did not accumulate in one hands. Therefore, their goal was to organize uniform sales of digital assets for all investors.
The second quarter of 2018 also saw the release of an alpha release of Holochain. We are studying the Roadmap: according to the information in it, major releases are planned for Q3 and Q4:
Testing of the network on the first 2000 hosts of Holoport;
Release of Holochain Alpha 3;
Launch of basic services for applications;
First transaction on Holochain using Holo Fuel;
Audit of security of Alpha 3 with subsequent release and possibility to configure DHT settings;
Completion of test transactions in the amount of 100 million;
Run of support of 100 000 hosts;
Run of Holochain Beta.
The project team is real professionals and experts in research, engineering, UI / UX design. The team is led by co-founders Arthur Brock and David Meister. The rest of the team members are as good as they are in their professionalism and craftsmanship. So, the basic structure is made up:
David Meister - a specialist in software development. He's a graduate of the University of Adelaide. Colleagues call him the "central player" of the project;
Arthur Brock - chief architect. He has more than 100 created multicurrency systems in his database. He worked for GM, Chrysler & Hughes;
Eric Harris-Braun - Executive Director. He is responsible for software infrastructure development. At the same time he is a co-founder of MetaCurrency;
Celestial Hanley (Celistial Hanley) - UI / UX design-development specialist; Connor Turland (Connor Turland) - application developer;
Damien Doute (Damien Doyt) - programming engineer. All team members have accounts on LinkedIn and Twitter, where you can see their profiles and learn more about the developers' activities. Interestingly, each team member has several roles and responsibilities ranging from design to regionally adapted app development.
The project concept and architecture of Holochain
Holochain is a distributed network with integrated architecture and protocols, which provides great opportunities for users. The developers claim that the concept they propose will help to change the approach to communication and coordination within the network.
The point is that all decentralized applications in Holochain must belong to the community without interference of third parties.
The ecosystem, in contrast to many analogues, is not based on the use of central servers, but on a peer-to-peer application infrastructure. The idea of the team was to make the blockchain technology more advanced and to replace the concept of data orientation with agent orientation. How this is achieved: a traditional type of blockchain involves connecting and running all nodes in the network to achieve consensus.
Holochain uses hashchains algorithm where blocks are not dependent on other nodes to check the data. Each node is on different data, and their exchange and storage is decentralized. In this way, the main problem of the block is solved - scalability, and the platform will function much faster, with the least energy consumption.
At the same time, no centralization, general ledgers or intermediaries! Holochain will help users:
to store their data securely and to control their identity;
to connect applications according to their personal needs;
to perform transactions without centralized systems;
to create their own innovative lightweight, practical and cheap applications.
The platform is designed for a wide range of applications and can be used for a variety of purposes:
Every user wants to have control over how and with whom they interact. In Holochain, each agent's information is stored in a distributed hash table and the system's bandwidth is unlimited.
The network does not support a single consensus, and the type and validity data is stored in individual blocks (as DHT records): Hosts allow users to use their own PC as a source of revenue. Profits are generated by hosting decentralized applications. Each host chooses which applications to serve and installs its own. The ecosystem is designed so that hosts are motivated to receive popular applications and remuneration for their work.
The crypt currency Holo and tokens Holo Fuel: what is the difference?The Holo Crypt Currency is an internal platform token that is used as a reward for participants for putting their data into a common storage. Holo uses a DHT (distributed hash table), the essence of which is that there is no need to confirm transactions between two users. In this case, peer-to-peer chains are common to DHT.
For your information! DHT (Distributed hash table) - is a distributed hash table, which allows you to make transactions directly, without the involvement of third parties. And in spite of the fact that the whole ecosystem is built on Ethereum blockchain and token works on ERC20 algorithm, there are still some differences, or rather there will be.
You will only be able to see them after most of the solutions are implemented, and the HOT temporary token will be replaced with Holo fuel (as a means of exchanging values, not currency). That is, when users exchange data, services or hosting, Holo fuel will act as a barter marker. This means that Holochain will not have its own currency, such as BTC for Bitcoin, or ETH for Etherium.
Any ecosystem user will be able to create their own tokens. A total of 133,214,575,156 coins were produced. 75% of the total is available for sale. During the ICO it was possible to collect 33,200 Etherium, which at that time was about $19,389,382. The maximum goal of the collection was $30,000,000, the minimum goal was $1,200,000.
According to the developers, the generation of coins depends on the creation of hosting places and other actions of users within the network and is calculated by the derived formula. Now the market capitalization of HOT is $153,557,219, daily volume is $14,290,978. The circulating offer is 133,214,575,156 HOT, the total is 177,619,433,541 HOT. Token is traded at $0.001153 or 0.00000507 ETH, or 0.00000017 BTC. Mining of Holo Cryptocurrency Get coins with the hardware and power of PC or farms will not work.
That is, instead of the usual PoS and PoW technologies, DHT, a distributed hash table, is used. And it is this algorithm for obtaining digital assets that gives them uniqueness, and the ecosystem - scalability. Holo tokens obtained during the ICO can be further used to purchase Holo Fuel.
Already in May 2018, immediately after the end of the ICO, the coin was listed on the Radar Relay exchange, and then on other exchanges.
List of exchanges on which Holo is listed: Name of the exchange
Currency pairs with Holo Hotbit HOT/BTC, HOT/ETH IDEX HOT/ETH Fatbtc HOT/ETH Bancor Network HOT/ BTC BigONE HOT/ETH Radar Relay HOT/ETH OOOBTC HOT/BTC HOT/ETH DDEX HOT/ETH LATOKEN HOT/ETH OKEx HOT/BTC, HOT/ETH
Since the token basis is the ERC20 algorithm, all wallets designed to store the ether will do: MyEtherWallet, Trezor, Ledger Nano S.
On the balance of the wallet should be BTC or ETH, as the exchange can be done only in pairs with these crypto currencies. What to expect from Holo - prospects and forecast for 2019 The technology itself is promising, especially the developers are finally going to solve the problem of scalability. But time will show whether such a "friendly" Internet will be safe in the same way as a blockchain. In any case, while the implementation of the Roadmap is somewhat delayed, and the promised releases still have not taken place even by 10%.
But even before the end of the year is still far away, so investing in a HOT token does not lose relevance, you can invest in it. If you judge by the team and the announced plans, you can hope for high potential of the project. The most important thing is that it is developing before our eyes - here and now.So far, the digital asset takes 47th place in the rating of coinmarketcap, but many experts assure that it has all chances to rise several steps up and even enter the top 20 leading cryptographic currencies.
There is also an opinion that the token price will go up and reach the ratio of a cent for 1 Holo. We believe that it is possible and even worthwhile to invest a small amount of money in tokens, because its cost and popularity depends directly on the number of users of the Holochain network.