Holo (HOT) Review in 2021
Holo is a peer-to-peer platform for hosting decentralized applications. By implementing a so-called ‘agent-centric’ approach, Holo apps turn users from passive consumers to their active participants, enabling them to store and control the app data on their local devices, being part of the application’s peer-to-peer network.
HOLO is the native asset of the platform that is also convertible to HoloFuel — a cryptocurrency backed by digital assets that powers the processing, computation, and storage in Holochain. The project was launched in 2017 with the goal to bridge cryptocurrency with mainstream real-world applications. Now, let’s take a closer look at Holo.
What Is Holo?
Holo was first introduced in an ICO in 2017. Its main goal was building a peer-to-peer distributed platform for hosting decentralized applications on Holochain. The latter is a framework for building fully decentralized peer-to-peer apps.
Holo is aiming to redefine the interaction of users with applications. On the internet as we know it, most apps run on centralized servers. Holochain apps, instead of being dependent on servers, connect user devices in a secure peer-to-peer network. All software including the back end of an application is installed locally on a device, and developers don’t have to pay for cloud hosting — this is what Holo calls the agent-centric approach.
Agent-centric approach. Holochain puts users in the center of the computing experience. Apps are stored on your device, allowing you to create self-owned identities and data. Open programming interfaces ensure you always have access to data in the app network.
Encrypted peer-to-peer network. Every Holochain app (hApp) creates its own encrypted peer-to-peer network between you and the other users, and you are in full control over your communications.
Mutual accountability ensures online safety. Any piece of data can be traced back to its creator, and every user helps enforce shared application rules.
What Is the Team Behind Holo?
Holo co-founders are Arthur Brock and Eric Harris-Braun — two serial entrepreneurs based in Gibraltar. Their team consists of 22 professional developers and managers who describe themselves as “a community of passionate humans building a distributed cloud, owned and run by users like you and me.” Holo team members have participated in developing numerous cryptocurrencies, which has given them enough experience to try disrupting the $400-billion cloud hosting sector.
Holo has a robust long-term vision: the team aims to make P2P apps mainstream, and the first step on this journey is building a marketplace for such apps. Think of it as a decentralized Google Play or App Store that is spread between users’ devices.
As of October 2021, Holo has laid the basis, carried out the first HoloFuel tests, and launched Elemental Chat — a proof-of-concept app that represents a successful end-to-end infrastructure test of the Holo Hosting network. Currently, Holo is in Alpha testing and is supposed to turn to Beta in 2022.
Holo (HOT) Network
Holo aims to become an “Airbnb of apps” — something similar to what the service became for landlords. A multi-billion app market is well-established, though Holo believes a decentralized vision can disrupt it. With Holo, anyone with a computer will be able to become an application host (a full-node operator of the peer-to-peer network of a particular hApp) and earn rewards in the HoloFuel token.
That way, every hApp has its own P2P network, and all these networks are closely connected to Holochain — an open-source blockchain where developers and businesses can build these networks, and Holochain will secure their functioning. When a computer becomes a host in a network, it starts acting as cloud-based storage for that application and can take as much as its free disk space allows.
Holo-based P2P app networks are built in the Distributed Hash Table (DHT) technology that eliminates the need for Distributed Ledger Technology (DLT) with a database (ledger) to which all nodes must be connected. Instead, Holo implemented “individual source chains’’ and independent node sufficiency. Nodes are validated against each other and checked against their neighbors — in DHT, there is no Proof of Work, Proof of Stake, and other traditional consensus algorithms.
Compared to Amazon Web Services and other cloud storage providers, an hApp is distributed across multiple hosts that get rewarded in HoloFuel for their work. This is not a regular cryptocurrency — it doesn’t have a ticker and a page on Coinmarketcap. HoloFuel is the internal micro-currency that powers the Holo hosting network, and its primary use is for app publishers to pay Holo hosts for their services. Several mechanisms ensure that HoloFuel is flexible enough and that its value is stable and predictable — to avoid the risk of “pump and dump” schemes inherent to regular crypto tokens that may cause severe price fluctuations.
Holo (HOT) Value Data
The current Holo (HOT) price is $0.0092, which is 29% of its $0.03157 all-time high reached on April 5, 2021. There are 172.90B HOT tokens in circulation, and the Holo market cap is $1.59 billion, which allows it to take the 70th position on the Coinmarketcap’s list.
Holo (HOT) Price Prediction
The future of the Holo price will depend on how its Alpha testing goes and how the token passes on to Beta. The next few months and 2022 will define the long-term price movement of HOT.
Coinpedia predicts Holo will reach $0.07 by the end of 2021 and will dangle between $0.05 and $0.1 in the next 5 years. Digital Coin Price platform expects HOT to hit $0.013 by late 2021, $0.0155 by 2022, and $0.031 by 2026. According to Wallet Investor, Holo will cost $0.0185 a year from now and $0.055 in 5 years. The platform ranks the token as an “awesome” 1-year investment.
Where Can I Buy Holo (HOT)?
On ChangeNOW, you can buy HOT with other 270+ cryptocurrencies instantly without registration. All you need to do is set the currencies and the amounts, enter your recipient address, and send the money to the wallet provided. As a non-custodial service, we never store your funds, and all crypto swaps are anonymous: we don’t collect any private data and don’t ask you for KYC. The average swap time is under 5 minutes, and there are no hidden fees: all commissions are already included in the estimated rate that you can see in the calculator. On ChangeNOW, you can also buy HOT with a credit card in a few simple steps.
Holo is a project with an ambitious goal: it aims to disrupt the cloud hosting market by establishing a peer-to-peer app marketplace and making P2P apps mainstream. These apps based on the Distributed Hash Table are hosted by individual devices and do not rely on a central server. Any computer with some free disk space can become an hApp host and earn rewards in HoloFuel. Currently, the project is in Alpha, and its further testing and deployment in 2022 will hint at how the Holo token will perform in the long run. If you believe in the investment potential of Holo, feel free to buy HOT tokens on ChangeNOW without KYC, registration, and hidden fees.