Updated: Dec 20, 2019
Founded by Arthur Brock and Eric Harris-Braun in February 2018, Holo is a flagship application built on Holochain facilitating decentralized cloud computing. Holochain (HOT) in itself is a peer to peer (P2P) decentralized networking application platform, for agent-centric agreements and consensus mechanisms.
This guide will talk about the reason Holo was designed, the creators behind it, the way it works, and it’s most popular applications.
What Is Holo Designed For?
Holo (HOT) is a cryptocurrency that powers a cloud hosting market, intended for decentralized applications hosted on the Holochain platform.
It is designed for the ordinary internet user. Its application follows a very simplistic approach by facilitating access to decentralized apps, without needing any additional software for that purpose. This allows the users to use this blockchain platform, without having any technical knowledge about the workings of cryptocurrency and blockchain.
The central framework of Holo is the Holochain, which is a blockchain network in which every node is operated in an independent blockchain. The platform enables the sharing of information without hosting it. This type of hosting model minimizes the capital input required for users to build, and grow their business through cloud hosting. Its platform is further intended to provide business solutions by exploiting the potential of its cloud computing industry.
Who Is the Team Behind Holo?
Holo was co-founded by Arthur Brock and Eric Harris-Braun, in February 2018. Arthur Brock worked at Hughes, GM, and Chrysler as an Artificial Intelligence professional. He has created over a hundred multi-currency system designs, and his software industries have deployed many of these currency systems.
Eric Harris-Braun also has experience in the software infrastructure field, co-founded several cryptocurrency platforms.
How Does Holo Work?
Holo is a decentralized platform for users, to use and host Dapps and set their hosting service prices and priorities. It is a multipurpose platform intended to create hosting space for social applications. The said applications are hosted through its peer to peer infrastructure outside the centralized internet, through cloud computing.
Holo provides essential crypto- accounting, infrastructure, auditing needed for the users to host applications using a double-entry accounting system, with numerous layers of cryptographic notarization and assurances. Users hosting the Dapps only have to provide the hosting services.
Every transaction that occurs on the Holo platform is validated by peers on a shared distributed hash table (DHT). There is an inverted relationship, with the transaction load getting lighter as the shared DHT on the Holo network gets full.
No mining or specialized processing is needed by the full Holo nodes, and they can be run on mobile devices and normal computers with low power capacity. The Holo platform Proof of Service (PoS) protocol then generates an invoice for every transaction processed on the Holo network. The users are compensated with revenue through hosting prices of their choice.
The Holo ecosystem bridges the gap between Holochain apps and users by creating a network, which enables the distribution of hosting services presented by peers. Touted as the next thing after blockchain, it is the platform provided by Holo, which enables every device on the Holochain network to function independently, without the need for continuous synchronization of data, thus facilitating higher scalability for its Dapps.
The Holochain token called HOT is an ERC-20 token and widely supported by ERC 20 compatible wallets and exchanges like Binance, Latoken, and Hotbit with ETH and BTC being its typical trading pairs.
What are Current and Future Applications of Holo?
Holo has an impressive potential which has been exploited variedly by companies and projects, seeking a platform with minimalistic knowledge requirement and, which is user-friendly to the most basic internet user.
Some of the top Dapps on the Holo platform are:
Sacred Capital: It is a reputation porting method, which aims at becoming the base to connect all the networks on the internet. By doing so, its users will be able to post comments, reviews, and articles as well as keep all their social media accounts up to date.
Junto: This is a blockchain start-up from Brooklyn, New York. It is a nonprofit social media organization that wants to remove all the pretentiousness from social media and make it more authentic as a real platform to connect people.
Core.Network: It is an internet outlined integration start-up and behaves as a central point, from which all social media accounts of a user can be accessed.
Producers market: This aims at bypassing the middleman in the market, and gets producers and buyers directly in contact with each other.
Apart from this, Holo successfully carried out a crowdfunding campaign and ICO, in the first quarter of 2018. New features were introduced like transactional bundling, Performance benchmarking, Debugging, and Gossip refractor amongst a few. Apart from these, certain Core Service apps, like Anchors and Enhance Demo apps, like HoloChat were launched.
Holo has the potential to exceed the transactions per second speed of some of the major exchange services, like Visa. Holo also received a testimony from the CFO of Mozilla and co-founder of Netflix, which stated that it was speaking Mozilla’s language and is getting geared up for a partnership with the same. All in all, the future of Holo looks very promising and bright.