HyperOne (HOT)

What is it?

Holo (HOT) is a digital token of the Holochain ecosystem, an open-source platform designed for creating and running decentralized applications (dApps). Holo (HOT) and Holochain form an integral part of a larger, interconnected system with two distinct functions.

The Token - Holo (HOT)Holo (HOT) is an ERC20 utility token on the Ethereum platform. It is primarily designed to be used for transactions within the Holochain network, specifically to pay for hosting services in the Holo ecosystem. Holo (HOT) allows its holders to participate in the Holo network's activities, providing an internal economy for the Holochain environment.

The Platform - HolochainHolochain is a peer-to-peer platform for developers to build decentralized applications. Unlike traditional blockchain architectures, Holochain uses a distributed hash table (DHT), providing a lightweight and scalable solution. Each node operates an independent chain, which enables high throughput and avoids the scalability issues that are common in other blockchain systems.

What is it used for?

Holo (HOT) tokens are primarily used to compensate Holochain hosts for their services. These hosts provide storage and processing power for dApps running on the Holochain network. Holo (HOT) tokens create an ecosystem in which dApp developers pay hosts in HOT tokens for their services, and end-users can access these dApps without needing to purchase any tokens. This mechanism is what makes the Holochain ecosystem self-sustaining and incentivizes user participation.

Who created it?

Holochain was created by Arthur Brock and Eric Harris-Braun, co-founders of the MetaCurrency Project.