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What is Holo?
Holochain is a decentralized platform that can be used for various purposes. The current unit of this network is HOT token. Users get HOT for hosting services. Holo provides a P2P infrastructure that allows to host and manage crypto apps, that can be customized. It is believed that Holo can operate faster than a blockchain system.
Unlike the blockchain Holochain takes an agent-centric approach. Holochain consists of network agents, it is their job to maintain the source chain with their transactions. Moreover, Holochain uses DHT (distributed hash table) to make every node validate received data as well as data from the source chains. Everything that comes out from this network is an application. These applications create the network.
The other difference from the blockchain is that Holochain does not attempt to make a network consensus. Every agent (user) creates his/her own transaction history. Each user has his/her own hash-chain and digital signature. Everything that the user has to offer is signed. This feature may help to protect users from hackers. This is the way to form an immune system for the chain. Each user now сan see the malicious user and stop all kinds of communication with him.
Blockchain is limited, while it is believed that Holochain has unlimited capacity.
Where did Holo come from?
Holochain has two co-founders: Arthur Brock and Eric Harris-Braun. Both of them have experience in creating currency systems. Arthur worked at GM, Chrysler & Hughes, where his field of expertise was artificial intelligence.
Eric worked with software and had experience designing cryptocurrency platforms.
What are the advantages of Holo?
- Each node only holds a portion of a data node
Unlike the blockchain, where each node has to store a full copy of a whole ledger, in Holochain each user only holds a part. This makes it possible to run lighter applications. - No data loss if the node goes offline
If the node goes offline, it can result in losing transaction record or transaction failure. So it is important to protect data in case something happens with nodes. - The usage of Proof-of-Service protocol
It generates invoices for services that are available, also it acts as a link between the centralized web and the blockchain. - User-centered network
There is no need for additional software. Holochain is designed for average users, thus it has to be simple to work with.
What are the disadvantages of Holo?
- Questionable stability of the token price
The team promises to control the price by changing the supply of coins. - Not anonymous
There is an algorithm of authorization. It is impossible to skip it.
How to buy Holo on SimpleSwap?
Let’s say you want to buy Holo. What should you do? We suggest you go to the SimpleSwap homepage and follow the instructions below:
- Choose the currency you want to exchange (e.g. BTC) in the first drop-down list. Enter the amount you would like to swap.
- Select HOT in the second drop-down list. You will see the estimated amount that you will receive after the exchange.
- Enter the Recipient’s Address. Holo will be sent to this address. Be careful and make sure you use the correct address.
- Check all the information you have entered. If everything is correct click the Exchange button.
- You will see the Bitcoin deposit address. You need to transfer the necessary amount of BTC to this address to start the exchange.
This is everything you need to know to buy HOT.
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BTC
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HOT
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