Holo revolutionizes the Internet world
Holo consists of a large-scale project which risks upsetting the digital world. In the near future, the Holo platform and the Holochain will change the Internet as we know it. Pending the launch of this large-scale program, the platform is offering its Holo tokens. Now is the time to invest, because the Holo price stabilizes.
Presentation of cryptocurrency
Holo, better known by the acronym HOT, is a cryptocurrency token distributed on the Ethereum platform. The holo class is of 0,000337 € with a 24-hour trading volume of 6,494,669 Euro. What does this project really consist of?
What is Holo?
Several names like Holochain, Holotoken and Holo Network designate the project and meet the same definition. It is an improved version of the blockchain as is. Some users view Holo not as an altcoin, but as an altchain.
Holochain uses a new type of registry that is faster, more energy efficient, more scalable and more affordable than Bitcoin or Ethereum. The registry has similarities to the blockchain. The difference lies in the nodes which contain no data. The objective of the project is to ensure a perfect decentralization on the making of applications and web hosting.
The consensus used
To be a perfectly decentralized platform, Holo uses a consensus method called Proof-of-Service. This consensus stands out from other systems that use either the Proof-of-Work consensus or the Proof-of-Stake consensus. Unlike a classic blockchain, Holochain aims to create applications and new technologies.
The platform also has the long-term goal of replacing the Internet as we know it. Within the decentralized network of Holo, all personal data will belong to the users. The latter will have the possibility of choosing the operating mode of their applications.
The Holochain and the Blockchain
In blockchain technology, network nodes are connected and must work together to reach consensus. In holochain technology, the use of hashes allows you to verify all data. Holochain blocks are independent and have their own hash chains.
The nodes within the network are not dependent on the consensus of the other nodes to ensure data validation. Unlike the blockchain, the holochain uses centralization in data processing. It then uses decentralization for data storage.
How does cryptocurrency work?
Unlike other cryptoactive assets, Holo remains the only cryptocurrency to have launched its ICO while having an already functional product. Find out how this platform works.
The use of the Holoport box
The company behind the digital currency has already created a box to ensure the functioning of the network before even launching the cryptocurrency. The case is called Holoport. To use the network, first get the instrument. Then connect the Holoport to the network and make the various configurations that are required.
You can increase the computing power for other decentralized applications by sharing the computing capacities of your Holoport. The Holoport box is available in 3 different models: the 2 GB HololoPort Nano, the normal 8 GB Holoport and the 16 GB HololoPort +.
The Hot token and Holo Fuel
The Holo network offers its temporary HOT tokens, the time to put them all in place to ensure the functionality of the platform. At the end of the last works, these tokens will be replaced by Holo Fuel. This virtual currency cannot be mined because it does not work with the PoW consensus.
Holo Fuel is an award given to someone who provides a service, such as sharing their bandwidth or storage space. In other words, you have to provide a service to users to earn Holo Fuel. This is also the Proof-of-Service or Proof of Service consensus.
Using a decentralized cloud
Its operation is based on the use of a decentralized cloud. In other words, the system uses member resources to manage all of the interactions. To do this, just use the HoloPort. This material will be distributed around the world in order to connect members of the network.
According to the team, 1,050 models of boxes will be distributed around the globe. After the installation of the new network, the new Internet will take place. In this new era, the consultation of a research database will not be centralized with a single distributor. Indeed, in the Internet world, Google monopolizes the place.
The pros and cons of this cryptocurrency
It must be admitted that Holochain’s project is innovative, however, this ambitious program has drawbacks. Let’s start with the benefits of cryptocurrency.
The main advantage lies in the functionality of the product. The Holoport box is presented as a functional and easy-to-use instrument. The project to create a new decentralized Internet is original.
The platform has already gathered a large community, because the enthusiasm for the project has been considerable. Accessibility on Binance (the largest cryptocurrency buying platform) is one of the advantages of this cryptocurrency. The Holo price is by the way 0,000337 €.
To take full advantage of the advantages of this new decentralized platform, you must have the Holoport box. The innovative project reveals a completely different mode of operation from the classic blockchain, which can confuse some users.
How to buy this cryptocurrency?
The Holo course is $ 0.001, but buying HOT tokens can pay off in the long run. If you want to invest, here are the steps to follow.
To buy Hot, the best solution is to choose Binance. You can also get them on a decentralized exchange like IDEX, but Binance remains the best choice. It is a platform with considerable renown and an ergonomic interface.
Before heading to Binance, start by buying Bitcoin on Coinbase. The latter is a secure and easy to use platform. After acquiring Bitcoins, transfer them to Binance and trade with Holo.
To store your Holo tokens, use a hardware wallet. It is an electronic wallet that takes the form of a USB key. There are many hardware wallets on the market, but the safest are Ledger Nano S and Trezor.
As an ERC-20 token, the Holo can also be stored on wallets like MyEtherWallet. When the project starts and the Holo tokens are replaced by Holo Fuel, use user accounts to keep your Holoport box operating.