What is Holo (HOT)?

Holo (HOT) is a platform that allows for creating and distributing decentralized apps (dApps) and peer-to-peer applications using Holochain. People on the network have the opportunity to act as hosts for those decentralized apps thanks to this peer-to-peer (P2P) platform. After giving out their computational power to the network, these individuals get paid in return.

By using Holo as a connection medium, Holochain links people to the internet. One of the distinguishing features of the network is Holochain, which enables users to create dApps without using a blockchain. As such, instead of calling them dApps, Holochain apps are more appropriately called hApps.

Who Created Holo (HOT)?

Eric Harris-Braun and Arthur Brock created Holo in 2017. The founders are contract coders who met when they worked on the MetaCurrency Project, which aims for a P2P economy.

Harris-Braun founded Glass Bead Software, a company that develops software for peer-to-peer communication. He also established the Emerging Leader Labs alongside Arthur Brock.

Arthur Brock is the founder of Geek Gene, a company that developed many alternative currency solutions. He also founded Agile Learning centers and co-founded Emerging Leader Labs with Eris Harris-Braun.

How Does Holo (HOT) Work?

The primary purpose of Holo is to make it easier and much more efficient for developers to create dApps. So, when developers create these apps, they wouldn’t need the consensus mechanism blockchains require. This network is also the bridge that connects users to Holochain (which functions as the crypto world). 

Holo works through the Holo Distributed Hash Table (DHT). This unique hash function allows its system to verify and validate transactions. As an agent-centric system, the DHT only requires a single node to verify transactions.

After a single node verifies a transaction, it’s then sent to other nodes for transparency checks. Unlike the traditional blockchain, which gets slowed down by an increased number of nodes and computational power, it is very scalable. The platform uses the Sharding technique to scale network traffic and distribute its data, preventing slowdowns.

The dApps created with Holochain require storage and processing power from users. To do this, users operate a dedicated machine called the Holoport, or they install software that automatically dedicates these resources.

Users who provide the required resources for the hApps get paid with HoloFuel. Investors can also redeem the native token of the Holo (HOT) network for HoloFuel.

Is Holo (HOT) A Good Investment?

Holo wants to create a modern internet where people can share information without a central authority controlling its flow. Its unique hashing function lowers the operational cost of creating dApps. This makes the internet work more in favour of the average individual than mega-corporations.

Besides its various technological and societal applications, HOT tokens are a good investment. Since there are a limited number of these coins, the value of a user’s coin can increase in the future.

HOT is available on various cryptocurrency exchanges such as Coinbase, Binance, and CoinEx.