Holochain

Holochain (HOT) is a 1:1 promise to pay for HoloFuel, a share of distributed computing power in the Holochain network.

What is Holochain? 

  • HOT is an ERC-20 token acting as an ‘IOU’ for the mainnet launch of Holofuel tokens with an open-source framework for creating peer-to-peer applications that are secure, reliable, and fast.
  • The Holochain network – and requisite HOT tokens – are designed to allow developers ease in creating fully distributed peer-to-peer web applications without any centralized data centers or storage.
  • Holochain can connect user devices directly to each other in secure networks instead of depending on servers allowing the autonomy and availability of locally installed software for users.
  • Agent-centric is the approach Holochain has been built around. With self-owned identities and data, users can ensure consent-based permission control, protecting them from unauthorized use.

Key Metrics

TickerHOT
Token NameHolochain
Token Type/ProtocolERC-20 
Total Token Supply177,619,433,541
Current Circulating Supply See Coinmarketcap
Market CapitalisationSee Coinmarketcap
Token Creation DateOctober 11, 2017
Can it be mined?No

Who is behind Holochain (HOT)?

Holochain was co-founded by Arthur Brock, experienced systems architect and Eric Harris-Braun with a strong mission to support and embody social coherence through computing frameworks that enable collective intelligence and collaboration among peers. 

What is the purpose of Holochain? 

Holochain was built with the purpose of creating Digital Agency, an alternative to the dominant centralized systems of the Internet, protecting users the ability to make their own choices, and giving them trustworthy information they can act on.

Insights

  • Holochain uses a DHT (Distributed Hash Tables) in contrast to a conventional blockchain. What this means is that the transactions on Holochain do not require traditionally costly consensus mechanisms to verify transactions on the network.
  • As a result of the DHT structure, there is a significantly reduced need for energy to produce Holo Tokens. In addition, transactions can be processed in a much more efficient manner without fear of bottlenecks or delays. Scalability is hence improved significantly.
  • HoloTokens can be traded for HoloFuel in the future. HoloFuel serves dual purposes as both a reward to Holo Hosts for their input on the network, as well as a measure of computational power (that can be sold or exchanged). It is analogous to GAS on the Ethereum blockchain.
  • Holochain is designed to allow developers to easily create hApps for public use upon the network. For non-developers, hApps also present an alternate passive income stream by sharing their unused computational resources to power hApps. 
  • With the power and redundancy of cloud software, Application developers, in turn, no longer have to maintain and pay for cloud hosting connecting devices on the networks.
  • Online safety is ensured by mutual accountability. Each piece of data has a cryptographic audit trail connected to its author, and every user helps enforce shared application rules and identify bad actors. Meanwhile, Holochain’s ‘subconscious’ responds to identified threats and adapts to network failures, making the experience safe and reliable.

Risks

  • Holochain doesn’t use KYC. Users can still use consensus and build a blockchain, but it will still lack interaction steps in the context of pseudo-anonymity.
  • It is nearly impossible to say if the information has legitimately been altered or compromised if there is a system error or hack on a single node.
  • Holochain’s DHT is ruled by Holochain’s own regulations which has not been proven yet. Therefore, the DHT may or may not be exploitable.

News and Updates

  • Holochain has been testing the Holo hosted version of Elemental Chat to allow new participants to join and post live messages. It focuses on the speed improvement that will be updated with sharding in order to operate in full-sync mode.
  • A hApp developer and Holo alumnus contributed a patch that fixes a compatibility bug in the Lair keystore in Holochain v0.0.102 release. Users can now use Windows-native Rust toolchain to build Holochain as their primary development OS.
  • Getting entries, getting links, and making Zoom calls to other peers, Zoom, and cells will be allowed as HDK is planning to combine all sorts of those functions. This update will make the whole user experience faster and more effective.

HOT token surged by over 4000% at the beginning of February 2021, hitting an all-time high of $0.03 on 5 April. The rise in the value of Holochain’s native cryptocurrency was mainly attributed to the US Patent and Trademark Office’s approval of Holo’s rrDHT.

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