Holo (HOT) is the original utility token for the Holo network, a decentralized peer-to-peer hosting platform for Holochain applications, with a future transition to HoloFuel for payments. It acts as an "IOU" from the Holo network, where users hosting distributed applications (hApps) on their computers receive HOT tokens in exchange for their computing resources. The HOT token is an interim currency, with the long-term goal of adopting HoloFuel for its core hosting and accounting functions.
How Holo Works
Decentralized Hosting:
Holo provides a marketplace for hosting Holochain applications (hApps) on a distributed network of personal computers.
Holochain Framework:
It's built on Holochain, a framework for creating peer-to-peer applications that is an alternative to traditional blockchain, offering scalability and energy efficiency.
Token Utility:
Users are compensated with HOT tokens for contributing their computer's processing power and storage to host hApps.
The HOT Token's Role
ERC-20 Token: Initially, HOT was an ERC-20 token on the Ethereum blockchain.
Interim Currency: It was created as a placeholder to facilitate the early growth of the network and will be exchanged for HoloFuel, the native currency designed for payments within the Holo ecosystem.
HoloFuel Transition: HoloFuel is intended to be the long-term accounting system and payment method for hosts providing services to the network.
Key Concepts
hApps (Holochain Applications): These are decentralized applications built using the Holochain framework.
Peer-to-Peer Ecosystem: Holo creates a decentralized environment where users can host and access applications without central intermediaries.
Decentralized Internet: The long-term vision is to create a more decentralized internet where information is distributed and not controlled by centralized authorities.
