Holo is a distributed peer-to-peer (P2P) hosting platform for Holochain applications (hApps). It is a kind of bridge to the new Internet. Holochain wants to replace blockchain as a platform for data storage, dApps creation and easy transactions.
Introduction to Holo
Holo does with hosting what Airbnb has done with hotels – anyone can become a host by turning their computer into a source of revenue and earning HoloFuel (HOT) for hosting distributed applications. The Holo software runs in the background, allocating backup memory and processing power to hApps on an older network. Hosts choose hApps servers, set their own hosting prices and manage their own priorities.
The project’s ICO started on March 29, 2018. The HOT price during the ICO was $0.0002. 75% of the tokens (from the pool of 177,000,000,000 available) were put up for sale. The expected amount was collected in less than one month: 20 400 000 000 USD.
In order to understand more easily what Holo is, we need to learn about the Holo ecosystem.
The Holo ecosystem is based on hosts that provide processing and storage of distributed applications while obtaining exchangeable credits.
The Holo ecosystem
Holo moves the hosting of social networking applications from centralized servers to decentralized centers. Every system has to struggle with loads. In most cases, computers do not use all their computing power. This excess of unused power assimilates Holo.
Holo allows hosts to transform a consumer-grade minicomputer into a source of revenue where they are paid to host distributed applications. Hosts choose the applications they want to host and set their own hosting prices and priorities.
Some of the most popular applications nowadays are created in a way that already needs Holo. Using Holo would mean that Wikipedia would no longer need to raise funds, and social networking applications such as Twitter and Facebook would not have to fight for a revenue model, while forcing advertising to finance a huge infrastructure. The more popular an application becomes, the more hosting power it will receive from new users installing the application and sharing the load.
Fuel of Holo – HOT token
Hosts are paid for using a cryptocurrency HOT called Holo fuel, which is designed to carry out a large number of micropayments. The value of hosting credits remains stable as they are supported by a valuable modern resource: computing power. As more and more hosts enter online and share the computing power, the network gains in value, giving HOT more purchasing power over the service it is supposed to support.
Both parties in a transaction sign it within their chains and the transactions are checked by the partners on a common DHT (distributed table of abbreviations).
What does a payment in the Holo ecosystem look like?
The application provider buys hosting (buying crypto-credits from Holo);
The host generates signed service logs, completing requests and providing answers to people accessing the application through their web browsers;
The host sends a Proof-of-Service invoice to the application provider when they collect part of the hosting in their log;
The Application Provider pays the Host for the hosting after checking the Proof of Service;
The Host may choose to pay out its hosting credits from the reserve account where the original payment was made. The payment will be in the HOT’s cryptographic shop;
The Host can only pay out the credits earned for the hosting.
Arthur Brock (CEO)
Eric Harris-Braun (CTO)
Ashanti Mutinta (Holochain Core)
Connor Turland (Application)
Damien Doute (Software Engineer)
Enameline Friedman (Research Lead)
Mamading Ceesay. (DevOps)
You can check the whole Holochain team here: https://holochain.org/team
Technical specification of HOT
Maximum number of coins: 177,619,433,541 HOT
Available coins: 162 386 112 924 HOT
First block: 30 April 2018
Average time between blocks: 15 seconds (Ethereum)
The algorithm: Ethash
Some interesting facts
Holo promotes the concept of sharing the economy. It enables users to create interoperable “cooperatives” and to communicate with large communities. They can share resources, whether small or large. The whole is based on the extensive micropayment function offered by Holo.
Safe sharing: Holo offers a secure sharing system for the medical sector. The platform allows medical professionals to efficiently record and manage data, supported by analysis.
Communication ecosystem: The peer-to-peer infrastructure on which Holo operates allows users to use communication functions without monitoring the messages/data transmitted in a centralized network. Users can transfer data between platforms. For example, the transmission of messages or data via the popular Facebook Messenger is monitored by Facebook, which knows exactly who, how, where, when and from where it is sent.