[{"category":{"name":"BitScreener Exclusive","exported_url":"bitscreener-exclusive"},"id":"0014ed11-c264-44d5-a0fa-5f44e60592ef","updated_at":"2022-07-22T12:06:00+00:00","account":{"firstName":"Mason","lastName":"Thompson"},"description":"Holo is a decentralized cloud storage platform that allows people worldwide to store their data in a more private, secure, cost-effective, and time-efficient manner. Let’s take a deep dive into Holo and its HOT token!","sapo":"Holo is a decentralized cloud storage platform that allows people worldwide to store their data in a more private, secure, cost-effective, and time-efficient manner. Let’s take a deep dive into Holo and its HOT token!","title":"Holo (HOT): Does It Have A Future?","content":"

Introduction to Holo (HOT)

Holo is a cloud storage-based peer-to-peer platform for distributed applications, meaning that Holo serves as a P2P market of apps that enables network participants to host decentralized applications (Dapps) within the network by using their computational power.

Holo is part of the Holochain ecosystem, an open-source framework for building decentralized applications with high security and speed.

Holo provides Dapps developers with a more efficient and cost-effective platform without the need for consensus algorithms like other existing blockchains.

History of Holo (HOT)

Holo was conceived in 2017 by Arthur Brock and Eric Harris-Braun, two professional experts in contract coding.

Defined as a post-blockchain platform driven by the DHT hashing function, the primary purpose of Holo was to create a peer-to-peer environment for Dapp management.

Holo raised a total fund of over $20.4 million through two funding rounds, with the last one in April 2018.

HOT token hit its all-time high of $0.03157 on Apr 05, 2021, and has retreated since then.

About Holo (HOT) token

Holo (Symbol: HOT) is an Ethereum token that powers the Holo platform.

HOT token shows the following major cases of use:

Hosting Fee: Users can earn HOT tokens as a fee for hosting Holochain applications, also known as hApps.
International Transfer: HOT is used to relocate international payments without incurring any additional fees.
Online Payments: HOT serves as a means of payment on e-commerce platforms.
Investment: HOT is considered one of the best long-term investments due to its high security and flexibility.

How Holo (HOT) works

Instead of using familiar blockchain technology to confirm added transactions, the Holo and Holochain ecosystem is based on a customized hashing function called the Distributed Hash Table (DHT) to verify internal transactions and produce new blocks while maintaining the network’s security.

As an agent-centric mechanism, the DHT relies on a single node to individually validate transactions transferred to other nodes for a double check to ensure transparency and legitimacy.

The DHT also leverages the sharding method to improve the ability to transmit data and expand the network traffic, making the Holo network an optimal solution for hosted apps.

Features of Holo (HOT)

The Holo platform possesses various noteworthy features:

It offers a continuous flow of technology and more efficient solutions to blockchain-related issues.
On-chain data is fully encrypted, evaluating reliability among users.
The Holo cryptocurrency relies on a sharding approach, enabling greater adaptability for massively distributed networks.
A streamlined method makes the Holo network more flexible compared to others.
Holo uses a content-based authenticity feature, facilitating control over the whole ecosystem.
A high-security level also characterizes the network as every peer-to-peer chain is encrypted with the Holochain application.

Outlook on Holo (HOT)

Born a peer-to-peer market for hosting applications, Holo is attempting to build a scalable platform that enables data storage, sharing, and distribution without the control of third parties or central authorities.

By using a special hashing technique, the DHT, Holo reduces network operation fees and improves user experience, proving itself a promising investment.

At the time of writing, HOT is trading at $0.002175, showing a slight increase of nearly 9% over the last week.

Explore all the trending topics and hottest news in the crypto market with our Blogchain.

Meanwhile, practice trading, play virtual money, and earn real tokens with CryptoSim - Virtual Trading Game.

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Holo (HOT): Does It Have A Future?

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