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Holo Features and Reviews
Holo uses a distributed hash table (DHT) from Holochain to power a distributed cloud hosting platform and a P2P marketplace for hosting applications.
The centralized and decentralized "world" often speaks different languages. Therefore, they often need a bridge to communicate with each other. Holo is the bridge between the centralized space and the Holochain network.
Holochain is a distributed internet network meant to foster user autonomy. It is an open-source framework where users can run peer-to-peer applications. In addition, holochain users can host their data using Holo.
Since Holo is a bridge between users on the centralized network and the decentralized web, some parts are centralized. Holo makes it possible for anyone to become a host. Turn your computer into an additional source of revenue using the “holo host box” and get paid in holofuel.
The average user rarely uses their computer at maximum capacity, leaving a lot of spare storage and processing power. Holo capitalizes on this and runs in the background. From there, it uses the excess storage and processing power to serve hApps(Holochain apps).
Hosts determine their hosting prices, choose what hApps to serve, and manage their priorities.
Holo is built on Holochain to provide a peer-to-peer cloud hosting ecosystem made of hosts and distributed computing users. Holo is the first app built on Holochain. It’s purpose is to make hApps more accessible to everyday internet users. The average internet user is not ready to delve and play with software like Holochain as most are unfamiliar with the concept of distributed web applications. However, by giving them something familiar, such as inputting a URL on a browser, they'll access hApps in a format they already understand.
Holochain is a solution to the many problems that trouble blockchain. It is faster, cheaper, uses less energy, and is heavily scalable.
Holo runs on HoloFuel, which is a digital-asset-backed cryptocurrency. HoloFuel gets its backing from digital assets like data processing, storage, and computation that powers cloud hosting. Hosts and users will transact with HoloFuel, paying for hosting services and internal network activities.
Unlike most blockchain, the Holochain network does not possess a built-in token. Instead, HoloFuel provides each user with a ledger that shows transaction history and account balance. Both parties must sign every transaction; it is then recorded on their ledgers and validated by other users on the network.
HoloFuel also operates on the principle of mutual credit, meaning there's an equally matching debit for every credit. Credit limits are linked to the fact that you can repay a negative balance by offering hosting resources. Users can redeem HoloFuel as a reward for hosting services, making it a valuable modern asset-backed by processing power.
Holo has an Ethereum ERC20 token called the HoloToken with the ticker symbol HOT. Before Holo went live, the team needed to raise funds using a trusted channel. Since ERC20 tokens were the standard way to run an ICO or two, the Holo Token or HOT was born. HOT is an ERC20 token built on the Ethereum blockchain as a stand-in for HoloFuel. It can be redeemed for HoloFuel at a rate of 1:1 within six months of the launch of the network.
Holo maintains an ecosystem of participants and defined roles, including users, reserved accounts, publishers, and infrastructure providers. These roles can be stacked, meaning a user can serve the ecosystem in multiple ways. Of course, there are exceptions, such as Holo organization - an infrastructure provider, and Reserve accounts.
Holo uses a unique proof of reserve algorithm to maintain its resources. Certain users have a reserve account role, which runs a unique algorithm to expand their credit limit. Reserve Account users can commit a Proof-of-Reserve record to their Holochain as proof of payment in accounts for external currency for HoloCredit. These funds are held in reserve for hosts that receive credits from anyone purchasing their services. Only credit earned for providing hosting can be redeemed through reserved accounts. Transaction histories, auditing hosts, and proof-of-service entries can confirm how a user earned said credit.
Holo allows users to host distributed apps and earn in HoloFuel for hosting hApps. HoloFuel is the currency powering the Holo network. App publishers can reward hosts with HoloFuel for their hosting services.
Holo provides its HoloHosts with HoloPorts, a plug-and-play device designed to host peer-to-peer Holochain applications. Hosts can purchase HoloPorts from Holo to join its peer-to-peer network. HoloPorts are dedicated standalone Holo hosting devices. It runs on a Linux distro that is already configured and installed to run smoothly. The HoloPort doesn't need to be connected to a computer since it is a standalone device. All it needs is internet access, and you're ready to start hosting.
Holo relies on Holochain’s secure and resilient Distributed Hash Table (DHT) that functions without servers or blockchain. As a data integrity engine, the Holochain network is concerned with data accuracy, completeness, and consistency. It achieves this by validating DHT, which gives every user a chain. Each party signs and countersigns a transaction on their chain and then shares this transaction information to the Distributed Hash Table.
Holo maintains an active forum where hosts and HoloPort owners discuss the latest Holo developments. The forum is a great place to communicate with other hosts and even get help with any issue. HoloPort owners can learn how to initialize, configure and register their HoloPorts.
Keep up with the latest news, developments, round-ups, and dev pulse points from the forum.
Developers can create reliable P2P applications that offer incredible speeds on the Holo network. Thanks to Holochain, developers can create their own chain and add any data, including an exchange between two users. The chains on the Holo framework and highly customizable and interoperable as they can merge, split and interact.
Holochain network is a welcome alternative to the blockchain as it is more effective, cheaper, and runs next-gen software. However, the Holo Network is yet to be fully deployed, so not all of its promises are a reality. Still, it is only a matter of time before the blockchain industry feels the impact of Holo.