What is Holo (HOT) in simple words: history, course and how to buy

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2019-08-04 00:00:00:

New projects with their own cryptocurrency are constantly appearing on the virtual currency market. This is due to the trend towards decentralization. Users are most interested in working with networks that no one controls. One of these projects is Holochain, the developers of which have created their own Holo currency. This article contains information about the network, its features, development prospects.

What is Holo (Hot)?

Holochain is a cloud computing platform that allows a client to host content and capitalize on it for profit. It is the technology that forms the peer-to-peer infrastructure. What is Holo ? This cryptocurrency is the unit of account into which securities are converted in the virtual world. It acts as a bridge between the main central network and its subordinate individual applications. The token provides financial value and acts as a digital asset. The platform operates on the basis of the Ethereum ERC 20 blockchain.

Blockchain is a system of block chains built according to certain rules. Usually copies of these chains are stored on different, unconnected computers. This system was first implemented in Bitcoin. That is why this currency is used in almost all transactions. Technology allows information to be disseminated but not copied. It can be used to store various data. It has the following advantages:

1. The information that gets into the system is checked by other users.
2. You cant just change the data. To do this, you need to know the unique code that the system issues. If an attacker makes an attempt to modify the data, it will be rejected because the new information will not match the previous copies.
3. Confidentiality. Participants do not know anything about other users, except, possibly, the number of the electronic wallet. The operation cannot be performed without an access code.
4. Information about transactions is available for each client.
5. There is no main server. Everything is stored in user records.

Everyone can post content on the Internet and send it anywhere in the world. To create your own block, you need to get a key created using a cryptographic algorithm. With its help, the owner has access to his block. In the situation with bitcoin, the key serves as the address of the account where the funds are stored.

Depending on what type of programs and services are used, two types of blockchain can be used.

1. Private. Designed more for private entrepreneurship. The business creator forms a centralized system. It is aimed at achieving corporate goals by the company.
2. Public. Any miner can become a user of such a network. The participants themselves administer and raise money.

The technology is automatically meant to resist failures. She has been working since 2008 without any problems. Blockchain is capable of:

• controlled by one person;
• resist failures at any point in the data transmission chain.

The scope of application of block technology is very large and extends to:

• systems that reliably resist DDOS attacks;
• creation of Internet business cards for general access;
• proof of ownership;
• quality assurance through certificates;
• determination of the time of publication of documents;
• secure transactions between two participants without involving a third party;
• storage of digital certificates for secure access to Internet pages;
• ensuring the security of network management.

The pluses also include small costs for operations, acceleration of transactions (it will take several times less time to check the documentation), and reduces the items of expenses of enterprises. The technology is promising for data security in logistics, medicine, law, financial transactions. The downside of blockchain is poor scalability. There are systems that conduct many more transactions per unit of time.

What is ERC 20?

The ERC 20 standard defines the requirements and mechanism of operation of cryptographic tokens (a unit of account that is not a cryptocurrency to provide a digital balance in a certain asset) created on the Ethereum blockchain. The code is known and can be found on the official website. With its help, each user can create their own compatible coins. The standard aims to simplify communication between smart contacts, Ethereum wallets and exchanges. Coins created on the basis of ERC 20 easily go to the sites and participate in trading.

The standard is based on two events:

• transfer, when tokens are transferred from one account to another;
• OK. It is implemented upon a successful decision to withdraw funds in any amount passed to the function as a parameter.

It is believed that the standard based on smart contacts was first fully implemented in the Ethereum cryptocurrency. At the same time, it is used for the first time in the bitcoin blockchain.

The principle of operation is that the client initiates the transfer of funds to another wallet. They are withdrawn from one account and appear on another. Technically, the process takes place in several stages:

• the user starts the transfer;
• an indication of the change of owner of the specified number of tokens appears in the smart contact;
• the specified amount is subtracted from the senders balance and added to the recipients balance.

As a result, users do not interact with each other, but with a smart contact. This greatly simplifies and speeds up operations, since there is no need to check all the data for a long time. The program only checks the compliance of the transaction with the terms of the contract. This made the system very popular.

One of the pluses of the standard is the creation of coins that are compatible with many platforms. Initially, unique tokens were created, and it was necessary to think over different mechanisms for their compatibility with the program. In addition to creating coins, additional pieces of software were created. ERC 20 tokens dont have this problem. But this feature is the reason for some disadvantages. In particular, due to the simplicity of creating coins, fraudsters can use them in their schemes. Attackers often launch ICOs that attract users to invest in promising projects.

Holochain is an alternative to blockchain, but capable of faster and larger scale expansion. Holochen uses separate blockchain capabilities to optimize computations. All participants can create their own ecosystem and digital currency. Holo cryptocurrency is a reward for the fact that the client places his data on the resource. In the future, it will be replaced by Holo Fluel, which will act as a service exchange identifier. This means that the site will be deprived of its own currency. Participants of the process can create it.

The creators of the project strive to develop a platform that focuses not on these systems, but on its users. Decentralized software has many more options. They are not limited and the application can expand more and more.

All data on the standard blockchain is stored on a distributed network. Its status is checked by each individual user. This leads to the fact that the number of operations per second increases and the performance of the entire network slows down. For this reason, some virtual money transactions take a long time, although the number of transactions itself is small. Holochain doesnt have this dependency.

Holo Story (Hot)

Holo s story began recently - in the spring of 2018. A few months later, its own currency appeared on the market. The developers of the project, Eric Harris-Brown and Arthur Brock, announced the features of the platform by initially releasing White Paper. Later, an ICO investment campaign was launched. In order to speed up the issuance of securities, the creators began selling a fixed amount of cryptocurrency to investors. The campaign started at the end of April. Over the course of 2 months, capitalization reached $ 130 million. This was enough for the project to start developing actively.

The main goal of the authors was to create a project in which most of the assets should not belong to one user. Therefore, all investors could purchase the same amount of digital currency. The project team also includes renowned programming engineers, application developers, design development and software specialists. Each of them has profiles on popular social networks. Each user can get acquainted with the work of professionals.

What is White Paper?

The white sheet provides information about the startup for the ICO. The company creates and publishes a document in order to attract investors. It reveals all the features, advantages, benefits and prospects for investment. After the introduction and content, the purpose of creating the project, its significance, ways of achieving the goal, the mechanism for their implementation, etc. are described. The following points are also required in the white sheet.

1. Marketing analysis. Developers conduct market research and describe how the product will gain its place. Investors gain an understanding of the competitive advantage in demand.
2. Technical description. The creators describe in detail the process of project implementation.
3. Tokens and financial model. The section describes how assets are allocated among investors, developers, marketing expenses, sales, stabilization fund, etc.
4. Road map. It describes the stages of the project with a precise indication of the time frame. For example, the month and year of the release of the alpha version of the site, integration with other services, attracting investors, etc.

The team of creators is introduced before the conclusion. This additionally inspires confidence and attracts investors. The official website of Holochain White Paper has information in the public domain. The developers themselves claim that the platform was created with the aim of freeing the online life of users from corporate sites. The client can independently create an autonomous network. This allows you to freely interact and choose information without falling under the control of corporate resources:

• conduct digital currency transactions not through centralized systems;
• creating applications with minimal investment is faster and easier;
• connect programs to personally control their own data.

Distinctive features of Holo (Hot)

The main features are due to the fact that the DHT (Distributed hash table) algorithm is used in digital currency. The name is translated from English as "distributed hash table". Thanks to this protocol, users can find each other without using a tracker. This allows for greater scaling, as participants do not need to wait for confirmation from certain parts of the chain and make a note in the journal. Users can create their own network and conduct transactions within it.

DHT has the following properties:

• the system consists of structural units without coordination;
• work with the same efficiency for any number of nodes;
• constant disconnections and connections of nodes do not affect the reliability of the system in any way.

The main principle of operation is that a key node in the system coordinates work only with individual nodes in such a way that any change leads to a limited amount of work. Some examples of distributed hash tables resist cyber attacks. DHT provides fast routing, data storage and retrieval. An environment is created in which this protocol is installed on many computers. A user looking for information needs to find the network address of another participant who has the required content.

In addition to the network address, each participant independently chooses an individual number by which he is identified. Its size must match the Info Hash (hash value) - from 160 bits and above. According to the rules, each user is entitled to from 5 to 50 MB of table memory. It stores information about the correspondence of Info Hash to the content, as well as the identifier number of the network address. All content is distributed according to the first column, which contains either the hash value or the identifier.

Data in DHT changes regularly based on the following rules:

• Rows, the identifier of which is most different from the client identifier, are deleted by the program if the table reaches the acceptable limit size;
• for each content that is created or downloaded, the hash value is immediately determined and entered into the table;
• if in the process of work the user learns about a new participant, then his identifier is immediately entered into the table.

Some time after the start of work, a table with the closest identifiers and a link to content is formed for each user. The user needs to know the hash value. The closest value is selected from its own table. Next will be the network address of the other participant. You need to follow the link or send a request to InfoHash. As a result, he receives either the desired content or the network address of the participant.

Distributed hash tables were created in the late 90s. The purpose of the creation was to solve the problem of indexing and searching for the necessary data among a large amount of information. For the protocol to work, the following conditions must be met:

• users do not identify each other in any way;
• unlimited number of clients;
• there is no main server;
• all data is held by the participants themselves. It is known in advance who has what content;
• only a limited number of participants can communicate with each other.

In order to find information faster, searches can sometimes be performed on adjacent sections of the network. This does not affect reliability and scalability. Moreover, there are no restrictions on the number of clients and the amount of information. There are many versions of the protocol with modified characteristics.

Thanks to these possibilities, the scope of application expands to:

• private companies;
• social networks;
• supply chains;
• joint applications;
• decentralized platforms.

Data exchange is based on the basic rules of holochain and blockchain. Each user can set the peculiarities of their own network functioning. This technology provides a solution to many problems.

1. Reduced energy consumption. A smartphone, tablet or laptop is enough to work in the network.
2. Ease of use with reliable safety records. To work with blockchain software, the user will have to download the entire blockchain or the last part of it. This takes up a lot of memory in the computer. The difference between holocaine is that you dont need to download it completely. Each user can work within their own small blockchain.
3. High level of security and data integrity. Fraudsters can create requests that the guardian nodes will respond to, but this is a very time consuming process. The advantage of a decentralized system is that the network will work even if one or more nodes are disconnected.
4. Scalability. In holochein, all operations are confirmed only by network participants. In the blockchain, you need to wait for confirmation from the entire network. This results in a heavy load that causes malfunctions.

How Holo works

Information is distributed among network participants. The principle is that the client offers to rent memory and computing power for a fee. All participants are settled using Holo cryptocurrency. Each coin is powered by the power to carry out computations. Users also refer to the currency as "credit tokens". The more operations are carried out with the unit of account, the higher its power.

In addition, decentralized applications (DApps) operate on the platform. They run on rented hosts with rented computing capabilities.

Holochain technology itself, according to the creators, has much better characteristics than blockchain. The distributed hash tables used have better throughput because the data is checked selectively. The entire network is divided into subnets that operate separately. This reduces the load. All transactions between participants are entered into a table that stores information about hashes and results of operations.

With regard to public data, the private owner does not have to ensure the functioning of the public blockchain. The user manages a separate chain for which an individual agent cryptographic key exists. It turns out that the public, main blockchain is formed by separate small ones.

If one of the clients stops working, this does not affect the state of the entire system in any way. The code base of the program can be used by the following client to start.

Features of storing individual chains

There is no need to copy and save a backup version of the entire blockchain in the holochein. As a general rule, each network is selectively checked. After the user turns off the computer, a limited copy of the blockchain remains in public space.

Storage takes place using special applications in a special DHT node. Such storage is reliably and securely implemented even on a mobile phone. Each program is supported by its own chain on individual terms with low costs. The hosts are the agents themselves. Therefore, the higher their number, the higher the computing power. In this regard, the load on each node is reduced.

Application information cannot be lost or stolen. Data is stored and distributed by DHT across many different nodes. If one of them stops working, then the data is transferred to another node. In a situation when someone changes the program code, then he is taken out of this space and creates a new application.

Holo advantages and disadvantages

Decentralization provides the following advantages: personal control over operations and storage of information, lack of central servers, registries and intermediaries, flexibility in decision making.

Like any other cryptocurrency, Holo has the following advantages:

• funds can be transferred to other countries without commissions;
• absolute independence. The issuance of digital money is not regulated or controlled by anyone. This attracts many traders;
• lack of cryptocurrency inflation. Since the emission is limited, the currency becomes in demand among investors. Thanks to this, the cryptocurrency does not depreciate;
• low probability of being taken over by intruders. Digital money is securely protected. It is almost impossible to hack e-wallets and conduct transactions;
• low commissions for operations. Most often, payments are made by customers voluntarily;
• confidentiality. Unable to find information about the owner of the electronic wallet. All you can find out is the account number and a small amount of information about the balance and the movement of funds;
• simplicity and availability of mining for all users;
• the ability to verify the authenticity of the operation;
• you can work with cryptocurrency at any time.

In addition, the environmental friendliness of the cryptocurrency can be noted. The technology and principle of operation does not provide for high consumption of electricity.

The disadvantages of virtual currency include:

• cryptocurrency is not backed by anything, unlike ordinary money. Problems with the safety of assets may arise;
• there is no single system for organizing trade;
• only the user bears responsibility for the safety of the cryptocurrency, since it is difficult to prove the fact of theft of funds;
• to open an electronic wallet, you must know the "key". If it gets lost, there is no way to restore it or remind it. The account becomes unavailable;
• the cost and demand for a currency can vary. This can be influenced by independent factors. For example, the authorities of the country can pass legislation regarding cryptocurrencies;
• after the payment has been made, there is no way to cancel it;
• in some countries, the use of digital money is limited by law. In case of violation, a fine may be imposed;
• It is quite difficult for financial institutions to control the emission and movement of virtual money.

Does mining Hot exist?

Mining refers to the mining of cryptocurrency. To get started, you need special software and a computer with sufficient power.

It is impossible to mine Holo in the traditional way. This is incompatible with the principles of the site. The creators of the network developed the project based on the concept of reducing energy consumption. Cryptocurrency is a common ERC-20 based token that can be sent, exchanged, traded on exchanges, etc. It is supported by all wallets that work with the corresponding digital money.

All income received during the ICO can be further transferred to Holo Fluel.

How do I buy or sell Holo?

Hot cryptocurrency was created primarily to attract customers to use the network. 

You can buy currency on exchanges. The most popular platforms where you can buy Holo are Binance and Bitrue, among others. The user is prompted to trade a pair with Bitcoin or create other currency pairs.

Hot to ruble rate

To date, the cost of one holochein is equal to null rubles. The maximum and minimum prices are the same. The Holo exchange rate against the ruble is characterized by negative volatility both per month and per week.

Hot rate to dollar

The cost of 1 holocain is $ 0.00578. This figure has risen by 8.68% over the past 24 hours. It takes 518 place in the ranking of digital currencies by capitalization. Low volatility of the Holo rate against the dollar for a week and average - for a month is characteristic.

Hot rate to euro

The cost of the holocoin is € 0.0009887. The Holo rate has increased significantly over the past 4 days. In general, fluctuations in the exchange rate were observed for the currency pair during the month. As a result, Holo fell 31.43% against the euro.

Where to store Hot

To store cryptocurrency, you can use the services of exchanges. To create an account, you must register, create your account, or fulfill other requirements. Therefore, it is important not to lose all login information. Since HOLO is an ERC-20 token, Holo can be stored in Etherem electronic wallets that support a specific type of cryptocurrency. The balance must have Etherem or Bitcoin currencies, since Holo can only be exchanged between pairs with these cryptocurrencies. Below are the e-wallets that work with Ethem.

MyEtherWallet                

It is the most popular service. Its peculiarity lies in the fact that in fact, tokens are not stored in the account. The program only provides the client with an interface for interaction. The coins are on the blockchain. Such a system is the key to the safety and security of funds. At the same time, it is important to always remember the access passphrase. Otherwise, the cryptocurrency will be deleted.

MetaMask

This wallet is also easy to use. Through it, transactions are carried out to pay with cryptocurrency for goods or services on the Internet. It is built as a browser plugin and can be synchronized on any gadget. Payment is made after the user requests a certain amount to the account.

Mist

The wallet was created by the Ethereum developers. It received official status. Provides the ability to work with smart contacts. An electronic wallet takes up a lot of memory space and requires synchronization with the blockchain. This can cause some inconvenience to users.

Parity

Until recently, the service was popular due to its simplicity. Over time, security problems arose and large amounts were blocked in the accounts of the owners. Therefore, the opinion of customers about the wallet is mostly negative.

ImToken

The electronic wallet is created in the form of an application for smartphones on Android and IOs. The interface itself is very simple and easy to use. This attracts users to participate in the ICO. The list of compatible coins is constantly growing. In addition, the owner has the opportunity to immediately study the latest financial news. The e-wallet account is linked to the application. This speeds up and simplifies operations.

How many Hot

According to statistics, the capitalization level reached $ 146,764,293.65 or 15.509.23 bitcoins. This allows the cryptocurrency to be placed in the 46th place in the ranking by capitalization.

According to the charts, the value of the currency increased by 56.555 over the year and decreased over the month and week by 28.62% and 16.71%, respectively.

Holo emission

Today the number of electronic coins is 133,214,575,156. Since this cryptocurrency is not subject to mining, all Holo emission is controlled exclusively by the network developers.

What Holo provides

The value of ordinary money is always attached to the countrys assets (GDP, gas, oil). If the asset price falls, then, accordingly, the value of the national currency also decreases. Like all cryptocurrencies, Hot is not backed by anything. It exists in a completely decentralized system and is not released by any organization other than developers. Liquidity and how much Holo appears on the market depends entirely on the activity of its participants.

The cryptocurrency is based on a special set of numbers, which is determined by mathematical calculations. Therefore, the emission requires special, powerful equipment. This, as well as labor costs, consumed electricity, affect the final cost of the virtual currency. A kind of security can be considered a product or service that a user can receive in exchange for virtual money.

The real value of cryptocurrency is due to the fact that real money is given for it. In many countries, it has received legal tender status. It can be used to easily pay in online stores or transfer to regular currency. The advantage of such money, in contrast to classic money, is the impossibility of counterfeiting them.

The future of Holo

The idea of holocoin is very attractive. As of today, cryptocurrency is not very popular. This in turn can lead to a good leap in the future. In early 2019, there was an increase in value. This is due to the fact that the creators of the project presented the beta version of the project, and the world saw the roadmap. This activity aroused increased interest. The development team continues to develop the project, popularize it at various events.

The technology itself may well compete with blockchain. For many decentralized applications it may even be preferable. However, we are not talking about the complete displacement of the blockchain.

Experts are carefully considering the issue of investing in digital currency. Throughout its existence, Holo initially rose high and fell sharply. Nevertheless, the currency managed to maintain its position. It has allowed traders to generate a decent income. The cryptocurrency has risen in price by 20 times twice. In the summer of 2018, there was a sixfold increase. Such indicators indicate the prospect of investing in the project.

The creators themselves say that the digital release and the future of Holo will depend on the needs of the network. The emission will be exactly the same as needed for the normal functioning of the network. This raises doubts that investors will be able to get at least some benefit. Only direct participants trading on exchanges can receive income. In this regard, long-term investment is questionable.

The cryptocurrency can be characterized as stable. Periodic growth allows you to make a profit on price jumps. Considering this option, we can talk about the profitability of medium-term investments.

Also, experts do not discard the possibility of increasing interest in the project. This will increase its release. In this case, it will be possible to earn money while growing, but before switching to Holo Fluer.

You also need to consider another scenario. The cost of holocoin may fall and you will have to wait for the next jump. There are also other similar networks operating on the market. There is a chance that they could outpace Holo.

Despite all the nuances, the project does not lose its relevance. The technology that aims to solve the scalability problem is also arousing great interest. The team fulfills all its stated plans. The constant development of the token indicates great potential. Many believe that in the near future, the virtual currency may take a place in the TOP-20 cryptocurrencies.

Investors are most often attracted by sites that operate on the ERC 20 standard. Such projects are guaranteed to be compatible with many specifications. The process of selecting currencies before entering the exchange is also easier. Also, the user can freely carry out transactions with coins. If there are no such advantages in work, then the investor may suffer losses, since there may be problems with promotion.

Conclusion

Holochain is a promising project. The site demonstrates a unique approach to distributed systems. The creators of the platform successfully cope with the tasks set. If things also go further, then it is quite possible that the project will supplant Ethereum. When working with any platform, you need to take into account all the features and the latest news of the digital currency market.