Holo Explained

Holochain

Holochain is an open-source framework that provides a platform to build decentralised applications. Instead of depending on servers, the framework connects user devices directly to each other within secure networks. This creates peer-to-peer networks that are secure, reliable, and fast. The platform operates as a cloud hosting market for Dapps. Holo says that the framework is quicker and cheaper than blockchain.

Applications on Holochain are on an encrypted peer-to-peer network between users, meaning you do not need to rely on a server or centralised network. Peer-to-peer gives you the ability to own and control your data with no intermediary. Meanwhile, applications that run on users devices have a cryptographic authors trail that ensures something that Holo describes as “mutual accountability”. In Holochain, this helps enforce rules and identify bad actors within the platform.

Holo Token (HOT) 

Holo launched the Holo token (HOT) in 2018 as the cryptocurrency that powers Holochain. The ERC-20 token is an initial coin offering (ICO) that will be redeemable for HoloFuel upon launch. The primary purpose of Holo was so the platform could raise funds for the expansion and development of Holochain. Additionally, users who host applications on their devices can receive HOT tokens in return. The price of Holo has grown a lot in the past year, going from around $0.0005 to over $0.005.

Benefits

The main goal of Holochain is to eliminate centralisation and aim for an agent-centric rather than a data-centric system. The platform is easily scalable since the storage of data is distributed among users and allows the peer-to-peer network to be secure. Adding to the platform’s security, each newly created network has a distinctive DNA, which creates a source chain and makes it so that a private key signs all transactions. These are just some of the reasons that Holo has gained massive popularity in the past year.

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