Holochain is a network for building decentralized applications that aim to change the blockchains’ paradigm to an agent-centric system. Holo aims to serve as a bridge between the internet and the DApps, which offers a marketplace to access DApps easily. The current market price of Holo (HOT) is $0.0178 after an increase of 1.16% over 24-hours.
Founded by Eric Harris Braun and Arthur Brock, Holo can host P2P apps on the internet. The network relies on several hosts for providing the storage and power for DApps. These hosts need to install the software on the computer, which automatically allocates the extra processing power to the DApps based on Holochain. They are paid in HoloFuel in return. Notably, Holofuel is a token explicitly designed for microtransactions which allow the network to process billions of transaction simultaneously. The Holochain users can control their identity, own their data, and transact without any centralized system.
The Holo network, as such, doesn’t rely on traditional blockchain technology. To secure the network, global consensus algorithms are not used. Instead, every Decentralized application has its own validation rules and a hash chain to store cryptographically signed records. The network is designed to be decentralized to minimize the risks involved with giving too much power to any entity.
HOT can be traded against fiat currencies, cryptocurrencies, and stablecoin. It can be traded on many exchange platforms, including Bitrue, ProBit Exchange, and Binance.
Holochain indeed takes a different path from the traditional model of blockchain, which ultimately results in a network that is easier with distributed apps. The users can communicate with other users and transact without the involvement of other users on the Holochain network. The network can be used to build DApps for any aspect, including social media, governance.
It is expected that Holo can do so much better this year. Although it is very much volatile, it is difficult to predict how low or high it might get to, but 2021 seems to be optimistic. Since the start of the year, the coin has managed to hold itself, and it is predicted to get better positions with the technical developments.