Holo Price (HOT)#73
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The addresses and transactions of Holo can be explored in https://etherscan.io/token/0x6c6ee5e31d828de241282b9606c8e98ea48526e2 and https://ethplorer.io/address/0x6c6ee5e31d828de241282b9606c8e98ea48526e2. Holo website is https://holo.host/.
What Is Holo
Holochain is a decentralized application platform for developers and blockchain users to build and make use of decentralized apps (dApps) on a distributed, peer-to-peer (P2P) network, without trusted third party intermediaries controlling the databases from central servers.
The goal of the Holochain's creators is to transition network usage away from data centric blockchains in favor of an agent centric system solution. No true global consensus is ever achieved by the chain. Rather, individual network participants maintain a private fork.
The data on the private forks are validated in a limited way when the public blockchain maintains records efficiently using a distributed hash table (DHT). HOT price of the Holo utility tokens reached new all-time-highs in 2021, as the Holochain network achieved industry-wide recognition and acclaim amid the broader cryptocurrency bull market.
Holochain and HOT token were created by co-founders Arthur Brock and Eric Harris Braun. The two have a long and storied background working to develop software solutions for decentralized applications.
In fact, the two have designed and worked on alternative currencies to traditional fiat banking currencies since the 1980s. They've been working on would eventually become Holochain for many years as well, envisioning a diverse group of Holochain apps flourishing on Holochain's fledgling system since even before Satoshi Nakamoto published the seminal Bitcoin white paper.
The blockchain's managing organization is run by a non-profit foundation in order to safeguard and prioritize the interests of users, founders, and developers together as a healthy digital ecosystem.
The advisory team for the company also includes Ryan Bubinski, one of the founders of CodeAcademy. In June 2018 Holochain announced a strategic partnership with Promether, an Adaptive Symbiotic Platform (ASP) that provides supported integrations for networking, security, and anonymization scripts necessary to protect developers' and users' blockchain data and tokens on Holochain.
How Does HOT Work
Holochain is a blockchain infrastructure platform that allows developers to build decentralized applications and allows users, HOT price notwithstanding, to run the network's applications powered by its native utility tokens. Holochain applications are called hApps by the HOT community and run on a blockchain built to be efficient and low cost for users and developers. The project has circumvented earlier consensus algorithm powered blockchains with a protocol that still delivers instant transaction finality, with substantially lower fixed costs and runtime costs. Users have a choice of what data they share with the network, so the blockchain is creating bridge infrastructure between the Holochain layer, and the conventional Internet or Web 2.0. Investors speculate on the Holo price movements up and down to day trade against the Holo price. They also invest in HOT tokens to hold long term to invest in the growth of the network and its application ecosystem and user base. HOT price is affected by supply and demand, the health and business of the underlying ecosystem for which the token is native, and strategic global macro considerations.
Holo Network Security
The Holo blockchain is a bridge between the conventional internet and HOT token's decentralized blockchain. But it does not deploy traditional blockchain consensus mechanisms such as proof of work (PoW) or proof of stake (PoS). Instead, each hApp has a unique set of validation protocols to store cryptographically authenticated records on a local fork of the Holochain.
When data is sent over more than one node, other random nodes in the distributed network act as witnesses and authenticators, receiving and passing on the data, and ensuring that it adheres to network protocols. The system uses a gossip protocol to proliferate data and warnings of malicious data placements and bad actors. Holo is designed by the Holochain Foundation's developers to be as decentralized as possible without using these costlier, less efficient consensus mechanisms.