What is Holo?

Holo (HOT) is an open-source platform that aids in developing peer-to-peer (P2P) applications. It functions as a cloud-hosting market for decentralised apps (dapps). It is a one-of-a-kind network that integrates an agent-centric approach to the market. Using Holochain, anybody can take advantage of low-cost cloud-hosting providers and build strong dapps.

A brief history of Holo

Arthur Brock and Eric Harris-Braun, both seasoned contract developers, established Holo. They began working on the project in December 2016 as part of the MetaCurrency Project, which creates tools and technologies to fuel a future P2P economy. The platform was inspired in part by Ceptr, a collaborative P2P platform for dapps on which Brock and Harris-Braun had previously worked. Holo offers a P2P platform for developers to create dapps in order to help shift the paradigm of a data-centric blockchain to that of an agent-centric system.

Holo tokens (HOT) were issued in January 2018 during an initial token sale of 25 billion HOT, with a supply ceiling of 250 billion HOT. The Holochain organisation and crew control 25% of the overall HOT supply, while investors and network members own 75% of the total HOT supply.

YouBi Capital, Woodstock Fund, Wolfedge Capital, DU Capital, and Continue Capital are a few of Holo’s investors.

How Holo works

Holo incorporates an innovative P2P architecture that allows applications to directly connect user devices to each other via secure networks that function as separate source chains. These chains are composed of separate nodes that are authenticated against one another. Since all programmes operate on devices, the network can quickly build self-owned identities and data.

When a new DNA sequence joins the network, the system generates a source chain. This is where all of the data generated by a user’s DNA is saved. Because all transactions are signed with a private key, this procedure provides additional security. Furthermore, the system demands that hosts produce verification of what they have seen and agree to follow all of the established restrictions.

The agent ID is a public counterpart to a private key. It serves as a network-wide unique identification and can be used to conduct signature verification, amongst other activities. Each network participant possesses a DHT shard, which is composed of random portions of public data that have been distributed across the network. The technical characteristics of sharded networks allow them to be much faster than blockchains that use other methods of data storage.

What is Holo used for?

Holo was designed from the bottom up to address various market challenges, including reducing centralised control. The network’s unique technological framework guarantees that users retain a balance of freedom and responsibility. This reciprocal sovereignty concept allows the network to stay safe while simultaneously delivering a wide range of services to consumers.