Holo (HOT) is an Ethereum token that powers Holo, a distributed peer-to-peer hosting platform for Holochain apps (hApps). Users who host hApps on their personal computers can receive HOT tokens in return.
What is HOLO (HOT)?
1. Who Controls HOLO (HOT)?
The Holo network uses a token called HoloFuel, which acts as an accounting system to pay hosts for services. When the project was launched in 2018, an ERC-20 token called HOT, also known as HoloToken, was issued as an “IOU” that can be used for HoloFuel.
Holo is a peer-to-peer distributed platform for hosting Holochain applications. Talk of money or making money, even for that matter, money makes money – Holo is the ultimate solution for peer-to-peer networking and the latest news on exchanges. Holo is a distributed hosting network offering lower costs and ensures fast transaction finality through its distributed hash table (DHT). Holochain is an open source protocol.
According to news, with the pure objective of Holo being to guarantee an anytime-anywhere accessible decentralized payment system, the dedicated team of Holochain has worked round the clock to offers solutions related to warranty data integrity without any compromise on security. It can connect distributed applications to suit their needs and is built for lighter, faster, and cheaper applications, as the news says it all. Energy consumption can also be done by the uses of Holochain.
Holochain makes no compromises when it comes to speed. The challenges of blockchain technology being data accessibility, they also came in packages. Those packages included slower transactions but higher costs. Holochain ensured these redundant costs are eliminated along with the advantage of higher speed of transactions. It provide developers to have their applications hosted by Holohosts.
This prized digital currency HOT offered users the advantage of fixed money at no inflationary cost. Holo focuses entirely on providing the users the benefits of efficient data transfer that would make their transactions fast and flawless, thereby justifying its paradigm role in the Internet-of-things eco-space. Holochain application allows network participants to own their own data. It gained enough popularity among app creators and several companies because of its practicality and convenient nature.
2. Who Created HOLO (HOT)?
Holo was founded by Arthur Brock and Eric Harris-Braun, both of whom are experienced contract coders. The two first started working on the project in December 2016 as a part of the MetaCurrency Project, a developer of tools and technology designed to power a future P2P economy. Holo was partially modeled after Ceptr, a cooperative P2P framework for DApps that the two had previously worked on.
Brock has prior experience coding alternative currency systems as the founder of Geek Gene, a company that developed community-building tools, including more than 100 alternative currency solutions. He also co-founded social-enterprise incubator Emerging Leader Labs and founded open-source education “starter kit” Agile Learning Centers. In March 2019, Brock was named a fellow of the New Zealand-based Edmond Hillary Fellowship.
Harris-Braun 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. In 2003, he co-founded Harris-Braun Enterprises, a freelance software development and consulting firm. He has also served on the advisory board of the Schumacher Center For New Economics.
3. HOLO (HOT) Pros and Cons
HOLO (HOT) Pros:
- Holo consists of a system of blockchains where every node operates on its own blockchain and all blockchains function with cryptographic keys unique to each node
- Holo has resolved issues faced with scalability
- Since every node has its own blockchain, no data is lost when the node goes offline and the main public blockchain can continue without being affected
- Holo uses Distributed Hash Table (DHT) for the verification of data
- Holo fuel is cryptocurrency credit which is backed by a shared computing network which makes it valuable and provides credits with more purchasing power
- All transactions are captured as double-enter accounting entries that show minting, burning, and mining
- Holo is a P2P network using a Proof-of-Service consensus method which creates a bridge between centralised web and blockchain
HOLO (HOT) Cons:
- There is potential for information overload
- There is a lot of controversy involved with Holochain’s aversion to traditional blockchain technology and consensus methods
4. The Difference Between HOLO (HOT) and Traditional Currencies
The main difference between them is, the traditional currency is a centralized system and bitcoins are decentralized one and peer-peer systems. Hence there are no central authorities to regulate rules and regulations on a bitcoin transaction. But a traditional currency is strictly regulated by the governmental authorities. Both the bitcoins and fiat currency have values which can be used for buying and selling of goods in the market.
- Flexibility
With traditional currency functioning for five days a week and die to transaction restriction, there is a chance of freezing of currency. There is no limit in the number of currencies, being printed, and hence when there is inadequate currency, it will affect the buyers and sellers, resulting in inflation.
- No Fraudulent Activity
If you want to transact with a traditional currency system, the users have to provide personal details like name, address, phone number, and lots more. So, with the internet technology, the malicious user will be able to hack the account details of the traditional currency system easily. Traditional currency can suffer from double-spending, where the same money is used for more than one transaction.
- Reduced Cost
In a traditional banking system, for making a national transaction, it will take 2-3 working days, and the transaction fees will be high. In the case of international transactions, the transaction fee will be very higher, and it will take 15 days to complete the transaction. In a Cryptocurrency system like bitcoins, there is no transaction fee for making a national transaction. The transaction will also take place in seconds or within 24 hours.
5. Is It Safe To Use HOLO (HOT)?
The Holo network acts as a kind of bridge between the centralized internet and Holochain, which is not based on traditional Blockchain technology. Therefore, the security of networks is not based on global consensus. Instead, each DApp has its own validation ruleset and a local hash chain on which it can store cryptographically signed records. When data is transmitted between multiple nodes, randomly selected peers act as validators. These peers receive the data and confirm that they follow the correct rules. Validators use a “gossip protocol” to share good data with each other and warn of bad data or blacklist malicious participants.
According to the development team, Holo is designed to be as decentralized as possible. The connection between hosts and applications is end-to-end password protected and Holo uses a globally distributed network of servers.
6. Is HOLO (HOT) Legal?
Due to the high rate of scam in cryptocurrency, a lot of traders have been trading in fear and most have also given up.
According to research, Holo is not a scam coin. It has been listed on top cryptocurrency wallets like Blockchain, Binance and lots more.
How Does HOLO (HOT) Work?
On Holochain, hApps reside on the users’ devices and operate without any miners, servers, or full nodes. However, on Holo, hosts offer their unused computational power and storage to publishers to run their hApps. In exchange for running hApps on behalf of users, app publishers compensate Holo hosts in HoloFuel, the project’s native, asset-backed, mutual-credit currency.
Hosts can set their own prices (they can even offer their services for free) and choose which applications to host.
Hosting credits (HoloFuel) can be bought and sold for various currencies via reserve accounts.
Interestingly, while every participant (end-users, developers, publishers, hosts) can purchase credits on the platform, only hosts can redeem HoloFuel using reserve accounts. That said, non-host participants can still sell their HoloFuel via third-party services like cryptocurrency exchanges.
In terms of Holo, it’s also important to mention HoloPorts. HoloPorts are dedicated, external hardware devices users can utilize to host hApps and receive HoloFuel in exchange.
Coming in three sizes, the project’s team sold HoloPorts exclusively to early backers in early 2018 to fund Holo’s development. The crowdsale in which the team collected over $1 million via an Indiegogo campaign was successful.
It’s important to note that you won’t necessarily need a HoloPort to host hApps on Holo. Instead, upon the launch of the platform’s beta, you will be able to utilize the spare resources of your desktop, smartphone, and tablet devices as well.
How to Make Money with HOLO (HOT)?
Here are quite a few approaches for us to make money with HOLO (HOT), such as Mining, Buying & Hold Bitcoins, Accept Payments in HOLO (HOT), Earning HOLO (HOT) by turning into an Affiliate, Lending HOLO (HOT), and Micro Earnings, and Trading.
- HOLO (HOT) Mining
- Buy & Hold HOLO (HOT)
- Accept Payments in HOLO (HOT)
- Determine how you’ll use HOLO (HOT)
- Find a HOLO (HOT) wallet
- Find a HOLO (HOT) payment processor
- Accept HOLO (HOT) payments
- Becoming an Affiliate
- Lending HOLO (HOT)
- Micro HOLO (HOT) Earnings (Faucets, Offer Wall, Short Links, Surf Ads……)
- HOLO (HOT) Games
- Micro HOLO (HOT) Tasks
- Trade HOLO (HOT)
How to Buy HOLO (HOT)?
1. Things To Know Before You Buy HOLO (HOT)
Buying HOLO (HOT) and holding onto it in hopes it will appreciate in value, is the most common form of “investing”. As with all investing, you should never invest more than you are willing/able to lose. This is especially true with HOLO (HOT), since it’s still a very risky investment.
The most important thing to keep in mind when buying HOLO (HOT) is to make sure to buy only from exchanges that have proven their reputation.
Another key tip is to make sure you don’t buy all of your HOLO (HOT)s in one trade. Instead use a dollar cost averaging method—buy a fixed amount every month, week or even day throughout the year. This ensures that you buy the most HOLO (HOT) when it’s on the rise, and less when it’s going down in price.
2. How to Buy HOLO (HOT) on a Crypto Exchange
- Coinbase – Secure online platform for buying, selling, transferring, and storing cryptocurrency.
- eToro – Trade and invest in a diversified portfolio, starting at $10, or practise risk-free with a virtual portfolio.
- Bitfinex – Digital asset trading platform offering state-of-the-art services for digital currency traders and global liquidity providers.
- Binance – Low trading fees, a generously wide range of leverage, and high liquidity.
- KuCoin – A large cryptocurrency exchange offering the ability to buy, sell, and trade cryptocurrencies
3. How to Buy HOLO (HOT) with Cash
- Find a seller in your area who accepts cash.
- Select amount of coins and place an order.
- Receive account number from the seller.
- Deposit cash into the seller’s account.
- Upload your receipt to prove you made the deposit/trade.
- Receive HOLO (HOT)!
4. How to Buy HOLO (HOT) with Credit Card
Not all platforms will allow you to use a credit card to make your HOLO (HOT) purchases. If you do choose a platform allowing such transactions, keep in mind that there may be extra fees associated with the purchase. Many credit card companies process cryptocurrency purchases via credit card as cash advances, which can incur high interest rates, among other fees.
5. How to Buy HOLO (HOT) with Paypal
- Login to Paypal and Select Cryptocurrency
- Select ‘HOLO (HOT)’
- Select ‘Buy’
- Choose How Much You Want to Buy
- Select Payment Method
- Hit the ‘Buy’ button
6. Should I Buy HOLO (HOT) In 2022?
Holochain or HOT is growing – not by leaps and bounds but by scaling gradually. Given the unleashed power of distributed web technology, HOT has a promising future and shall record prices in the years ahead. Experts predict Holo cryptocurrency price prediction to reach $0.008 by 2022, $0.009 by 2023 and rise to $0.014 by 2025. Market Holo predictions anticipate a bull run of $0.016 in 5 years.
Holochain is a futuristic project. The team behind it aspires to create a platform that competes with other blockchain projects and changes the internet. Even though blockchain is a revolutionary technology, there are some limitations. This is what Holochain aims at– to eliminate these flaws. Again, this aim will undoubtedly affect its price positively.
It is important to note that HOT tokens are temporal, even though the team behind it promises they will not go anywhere even after the swap. HOT tokens might drop. Until then, it can as well rise if the project delivers on its promises, makes new developments, and gains popularity. Even though we are bullish on Holochain, we recommend you do your own research before investing in it.
Read More:
How to Sell HOLO (HOT)?
1. Things to Know Before You Sell HOLO (HOT)
To get started with HOLO (HOT), you’re going to need three things: an exchange, a wallet and the knowledge of how to buy the cryptocurrency. This last one is easy with our guide on how to buy HOLO (HOT), but the other two are still important. The exchange allows you to buy HOLO (HOT) from sellers, and the wallet gives you somewhere to store it long term.
When choosing an exchange, you should look for one with many users, good customer support and low fees. Three particularly popular exchanges with newcomers are Coinbase, Robinhood and Binance. However, there’s nothing really tying you to a specific exchange, so you can try new ones and quickly change at any time.
On the other hand, wallets can be much more complex. “Cold wallets” — physical devices holding cryptocurrencies offline — come with a steep up-front cost, but “hot wallets” — pieces of software that hold your coins on a computer — are often less secure. However, since hot wallets are fine for short-term storage and free to set up, it’s a good idea to start with them.
2. Sell HOLO (HOT) in Cryptocurrency Exchanges
- Step 1: Set up an exchange account
- Step 2: Transfer your HOLO (HOT) to your exchange wallet
- Step 3: Place a sell order
3. Sell HOLO (HOT) in P2P Trading
- Step 1: Go to the P2P Trading Page
- Step 2: Choose to Sell and Set Your Currencies
- Step 3: Find a Buyer
- Step 4: Choose How Much You Want to Sell
- Step 5: Send the Offer
- Step 6: Confirm the Release
4. Sell HOLO (HOT) in HOLO (HOT) ATMs
- Step 1: Choose withdraw cash
- Step 2: Choose HOLO (HOT) (these machines normally may support other cryptocurrencies)
- Step 3: Choose amount to withdraw
- Step 4: Send HOLO (HOT) to given address QR code
- Step 5: Receive cash immediately as HOLO (HOT) transaction is propagated on the network
How to Get Free HOLO (HOT)?
Most genuine websites that allow you to earn free HOLO (HOT) require you to spend money on other things like buying cloud computer mining power, connecting your CPU for mining, playing a game, or completing micro-tasks.
In other words, they offer free HOLO (HOT)s as an advertisement for their services. Otherwise, it takes time and effort to get free HOLO (HOT) given its current high value.
- HOLO (HOT) Faucet
- HOLO (HOT) PTC Sites
- HOLO (HOT) Airdrop
- HOLO (HOT) GameFi
- HOLO (HOT) Bounties
- Learning About HOLO (HOT)
- Shopping Reward
- HOLO (HOT) Interest
- Owning a HOLO (HOT) Faucet
- Write about HOLO (HOT)
- HOLO (HOT) Affiliate Program
- Free HOLO (HOT) Cloud Mining
What is a HOLO (HOT) Wallet?
1. HOLO (HOT) Wallets for Beginners
One of the best places to store Holochain (HOT) is in an encrypted hardware wallet like those made by Ledger or Trezor. Hardware wallets use extremely high end encryption techniques to keep your funds safe and secure from sophisticated network attacks or even simple phishing scams that users keeping their funds in a software or website wallet may encounter. Hardware wallets even allow users to recover funds via a mnemonic seed phrase just in case the wallet is stolen, damaged or otherwise compromised.
Both Ledger and Trezor have entry level models available for around $50-$60 USD with the Ledger Nano S and Trezor One being the best all-round performers in terms of features for the price. Both hardware wallets are capable of storing Holochain (HOT), keeping it offline and secure.
2. How To Make A HOLO (HOT) Paper Wallet?
Although there are ways to manually generate a private key, the vast majority of paper wallet creators use a private key generator. Once a private and public key have been created, you are able to print a paper wallet, which because it’s not online doubles as a cold storage wallet. This will include the public and private key you’ve generated, usually as both a string of characters and QR codes.
Anyone with a paper wallet’s public key can send crypto to it as often as they like. Using the corresponding private key, you can move the crypto balance of the paper wallet into a software wallet. This transfers the funds to a new private key on your software wallet.
3. Ways To Set Up a HOLO (HOT) Wallet
There are many HOLO (HOT) wallets out there, and all of them differ in their characteristics. Mobile software wallets are great for day-to-day use, while desktop software wallets bring about a great balance between convenience and security. Lightweight web wallets are the best choice for quick online transactions. Cold encrypted hardware wallets like Ledger or Trezor are the best for long-term storage of bitcoin. However, unlike other options, hardware wallets aren’t free and cost $50 or more.
Set up a HOLO (HOT) Software Wallet
- Mycellium
- Bread (BRD) wallet
- Bitcoin wallet
- Electrum
- Samourai
Set up a HOLO (HOT) Web Wallet
- Coinbase
- Blockchain.info
- BTC.com
- Rahakott
- BitGo
Set up a HOLO (HOT) Hardware Wallet
- Ledger
- Trezor
- BitLox
- KeepKey
How to Buy and Sell HOLO (HOT) In Different Area?
1. How to Buy and Sell HOLO (HOT) in India?
You can get HOLO (HOT) in India mainly through buying and mining. To buy it, you can use several online exchanges such as WazirX, Coinbase, BuyUcoin, and CoinDCX. Choosing the best online exchange is another task, but here are a few things you should keep in mind while buying the cryptocurrency in India.
- It’s best to go with an exchange that allows you to withdraw cryptocurrency in INR to your personal online wallet for safekeeping
- Make sure that the internet connection is secure. Also, don’t forget to use safe internet practices like two-factor authentication and unique and strong passwords.
- KYC aka Know Your Customer verification is a must, at least in India. For that, you can use a PAN card and valid address proof
- Now, add the bank account that is linked to your PAN card. Verification will take around 2-3 days
After the verification is complete, you can start trading HOLO (HOT) in India. Money from your bank accounts can be transferred using NEFT, RTGS, and debit and credit cards. Currently, the value of one Bitcoin is around 27 lakh; however, you don’t have to buy a whole coin to begin investing. You can buy Bitcoin in parts, i.e. small investments for as low as Rs 500. That way, you will own a small percentage of the cryptocurrency.
2. How to Buy and Sell HOLO (HOT) in Canada?
- Sign up and get KYC (Know-Your-Customer) verified on a Canadian crypto exchange like Bitbuy.
- Deposit CAD to the exchange directly from your bank account.
- Buy HOLO (HOT).
- Store HOLO (HOT) on your exchange account or transfer it to a wallet.
3. How To Buy and Sell HOLO (HOT) In The UK?
- Create a Coinbase account.
- Complete identity verification to access fiat payment options.
- Navigate to the Accounts and select the GBP wallet.
- Fund your account using Bank Transfer or other methods.
- Once the deposit is complete, go to the Buy/Sell page and select GBP to HOLO (HOT).
4. How To Buy HOLO (HOT) in the United States?
The best way to buy and sell HOLO (HOT) in the USA is through an exchange such as Coinbase, Kraken, Gemini, Coinmama, Binance, or Changelly. There is a plethora of options available, so it is best to look at each of the exchanges’ processes for deposits and withdrawals, fees, and transaction speeds to determine which is best for you.
HOLO (HOT) FAQs
1. HOLO (HOT) History
Holochain is a data integrity protocol for distributed applications that uses a Distributed Hash Table (DHT) that in essence gives every participant their own “chain”. But Holochain is not a blockchain, despite what the name implies. For example, publishing information on a DHT is similar to using BitTorrent.
Holochain intends to offer a distributed framework for generalized computing that supports programming and application development, something the Holochain team believes other crypto-projects do not offer.
On top of Holochain sits Holo, a distributed network of hosts and users sharing and consuming computing power to host decentralized applications (dapps), data repositories, etc., and hosts are paid for their services. But in the same way Holochain is not a blockchain, according to the development team, Holo is also not a token. It’s an “asset-backed mutual-credit crypto-accounting system” that Holochain designed for use between participants and for immunity to volatile or speculative habits common to crypto-projects.
2. What is Holo HOT Used For?
HOT coins can be used as the main payment method on the network, whereas network participants, who use Holo to rent computational power to other users for hosting apps, can earn HOT in return for their rental services. HOT coins can be held as an investment or traded for a profit in the live market of cryptocurrencies.
3. Is Holo HOT a Good Investment?
Yes, technical analysis based on HOT crypto price prediction suggests, if you are looking to invest in Holo then definitely a better price is expected from it in the short term near future. It is a good investment option giving an expected rise of 67% the current level by December 2023.
4. Is Holo and HOT Same?
HoloToken (HOT) is a placeholder and an IOU for HoloFuel. HoloFuel is a bit like Ethereum gas. HoloFuel and HOT are designed differently and have different purposes. HoloFuel is designed to perform billions of daily microtransactions for hosting services and it works P2P.
5. Where Can I Trade Holo HOT?
Holochain is available on more and more exchanges such as Binance, Bitrue, Hotbit, Fatbtc, Bilaxy … And the list will continue to grow as the project will become known, however, we advise only Binance and Bitrue to buy or sell your Holo Tokens.
