HOT Holo

What is Holo Used For?

Holo is used in several key ways within the Holochain ecosystem:

• Incentivizing Network Participation: Holo tokens (HOT) are used to incentivize users to participate in the network by hosting decentralized applications (dApps). Users who provide computational power and storage for these applications are rewarded with HOT tokens.
• Payment for Hosting: HOT tokens can be used as payment for hosting apps on the Holochain network. This allows developers to access the necessary resources for their applications while ensuring that hosts are compensated for their contributions.
• Future Conversion to HoloFuel: HOT tokens are placeholders for HoloFuel, which will be used for microtransactions within the network. Once HoloFuel is launched, HOT tokens can be exchanged for HoloFuel at a one-to-one ratio.
• Security and Validation: HOT tokens play a role in securing the network by validating transactions and ensuring the integrity of the Holochain.

Key Applications

• Social Media Platforms: Holochain is particularly suited for social media platforms due to its agent-centric nature, allowing for efficient and secure data management.
• Peer-to-Peer Platforms: Holo enables peer-to-peer hosting environments, making it ideal for applications that require decentralized data storage and processing.
• Supply Chain Management: The decentralized and secure nature of Holochain makes it suitable for supply chain management applications.
• Reputational Cryptocurrencies or Loyalty Programs: Holo can be used to create reputational cryptocurrencies or loyalty programs that are transparent and secure.
• Collective Intelligence Projects: The platform's ability to handle large amounts of data and validate transactions efficiently makes it suitable for collective intelligence projects.

How Holo Works

• Agent-Centric Approach: Holochain uses an agent-centric approach, where each user has their own "agent" that verifies and stores data in a peer-to-peer network.
• Distributed Hash Table (DHT): Holo uses a DHT to ensure data integrity and security, allowing for efficient and scalable data management.
• No Centralized Consensus Mechanism: Unlike traditional blockchain technology, Holochain does not require a centralized consensus mechanism, making it more energy-efficient and scalable.

Key Benefits

• Scalability: Holo is designed to be highly scalable, allowing for efficient data management and processing.
• Energy Efficiency: The platform's agent-centric approach and use of DHT make it more energy-efficient compared to traditional blockchain technology.
• Security: Holo's decentralized and secure nature ensures data integrity and protects against malicious activities.
• Flexibility: The platform is versatile and can be used for a wide range of applications, from social media to supply chain management.

Pros of Holo

• Energy Efficiency: Holo's architecture requires significantly less energy compared to traditional blockchain systems. This is because nodes do not need to store and validate the entire blockchain, reducing bandwidth and electricity usage.
• Scalability: Holo's peer-to-peer hosting model allows for horizontal scaling, meaning the network can handle increased demand by simply adding more devices to the network. This approach ensures that the Holo ecosystem can accommodate a growing user base without sacrificing performance.
• Security and Privacy: By decentralizing hosting, Holo reduces the risk of single points of failure and data breaches. Additionally, since each user maintains their own chain of transactions, data privacy is enhanced, as sensitive information is not stored on centralized servers.
• Short Transfer Times: Holo operates faster than traditional blockchain systems because it only moves the changes that need to be verified, not the entire ledger. This significantly reduces the amount of data that must be moved, leading to quicker transfer times.
• Incentives and Rewards: Users who contribute computing resources to host applications are rewarded with HoloFuel, incentivizing participation and creating a self-sustaining ecosystem.

Cons of Holo

• DHT Governed by Rules: While DHT is proven technology, the rules for Holo are not yet fully established and may be exploitable.
• Not Trustworthy Enough for Monetary Transactions: Holo is not considered trustworthy enough to use as money due to potential system errors or hacks on individual nodes, which could lead to discrepancies in transaction records.
• No Mining Incentives: Unlike traditional blockchains, Holo does not offer mining incentives, which could limit its appeal to some users.
• Uncertain Future of HOT Token: The future of the HOT token is uncertain, as it may be replaced by HoloFuel, which will be used to pay for hosting apps instead of HOT.
• Not Anonymous: Holo requires an authorization algorithm, making it impossible to use anonymously.

Founders of Holo

• Arthur Brock: Co-founder and Chief Architect of Holo. He has extensive experience in coding alternative currency systems and is the founder of Geek Gene, a company that developed community-building tools, including over 100 alternative currency solutions. Brock also co-founded social-enterprise incubator Emerging Leader Labs and founded open-source education "starter kit" Agile Learning Centers.
• Eric Harris-Braun: Co-founder and Executive Engineer of Holo. He started programming full-time in 1988 and is the founder of Glass Bead Software, a developer of peer-to-peer communication software, as well as co-founder of Emerging Leader Labs alongside Brock. Harris-Braun also co-founded Harris-Braun Enterprises, a freelance software development and consulting firm, and has served on the advisory board of the Schumacher Center For New Economics.

Investors in Holo

• Founding and Funding: Holo was founded by Arthur Brock and Eric Harris-Braun in 2017. The project collected over $20.4 million in two funding rounds, with the last round taking place in April 2018. Cardinal Capital is also a significant funder of the project.
• Key Supporters: The project has gained the confidence of various investors and has been featured in articles by Nasdaq and Capital, indicating its growing mainstream recognition.
• Listing on Exchanges: Holo is listed on top-tier crypto exchanges such as Binance, Huobi Global, Gate.io, and Crypto.com, which further supports its credibility and investor interest.

Is Holo Halal?

Yes, Holo is considered halal. It has been screened against robust Shariah guidelines and found to be compliant.

Key Points:

• Shariah Compliance: Holo has been evaluated based on Islamic principles and found to adhere to them.
• Screening Process: The screening involves examining the project's underlying assets, use case, governance structure, and tokenomics to ensure they align with Shariah principles.
• Sources: Multiple sources, including Crypto Ummah, Halal Crypto Guide, and Practical Islamic Finance, have confirmed Holo's halal status.