When Binance announced today that I would be listing Holo (HOT) on its platform on 24th July, HOT which was trading at $0.000390 a week ago with a market capitalization of $51 million, rose to $0.000933 in price with a significant expansion in market capitalisation that now stays at $124 million.
Although, Holo may not be very popular since it stays at 89th and now at 75th position, the blockchain technology branded as Holochain, has numerous use cases that makes it stand out among its contemporaries.
What Is Holo (HOT)?
Holo is regarded as a means of linking HoloChain, a state of the earth crypto technology and technology conscious society together. Despite the fact that people cherish technology, they still find it not easy to deploy. However, Holo makes it possible.
Holo is meant to achieve the thought of many who want decentralised computing real and comfortable at the same time.
The technology generates essential cryptographic material needed to keep data integrity safe from one platform to another and cross countless peers without the use of consensus.
If integrity is sacrosanct, without linking it to consensus means no delay what so ever, it requires no mining which needs a hell lot of energy, and there is no place for proof of stake or work.
The awesomeness of Holochain makes it so outstanding that more than 50 full nodes of Holo on a $35 Raspberry Pi computer or a cell phone.
Aside from that, Holochain is suitable for scalable crypto-accounting where non-volatile and asset-inclined digital currencies are built.
In fact, Holochain programmer can use its outstanding Rapid Application Development tool to achieve Pair to Pair web apps with a tendency to function on the same level with common socio-blogging sites on a decentralised level. What is required of each user is a small amount of computing and storage.
Holo makes it easy for interested tech enthusiasts to use their browser and their payment means to relate with blockchain cryptocurrency applications (DApp) and their digital currencies.
For those who come across Holo now, they can deploy Holo hosting box to host their apps and get Holo fuel. Through the platform, they get additional space and power-sharing extra space and computing power to host apps for others.
While others are burning their computation on mining, Holo Hosts receive funds just for giving out hosting to conventional users who use their browsers instead of installing Holochain.
In essence, Holo is a realistic negotiation – a conduit for people to move closer to a more decentralised space and independence. However, it has some of its parst that are still centralised. Affirming that it is not a cryptocurrency project.
Holo’s Use Cases
Sharing Economy on Holo
Holo has Airbnb like use case called Ourbnb. It is a P2P home sharing platform managed by the hosts.
When users in need visit the platform, a computer belonging to a community members responds to their demand while sealing the booking as well.
The host is compensated for making the platform available to people with a web browser. The vision and mission of this are beyond home sharing; anything could be shared including cars.
Medical Records Management
This medical record management could be used to document medical records of a patient whose doctors are many but relocated and need all documents to be served to the new doctor.
Holo Enables Dignity Identity for Refugees
For refugees who have no identity, Holo could generate an ID for new refugees using Dignity (IDwD) smart card for managing information and applications while controlling their digital records at the same time.
Holo has partnered with Regenerative Software, LLC in the US. The company is to support Holo in software and community development and also market Holo to the society.
In the same vein, Holo partnered with Promether on Security. The company is an Adaptive Symbiotic Platform (ASP) saddled with the responsibility of achieving security and networking code by linking topnotch encryption, Distributed Ledger Technology (DLT), and decentralised networks.
In the partnership, Holochain provides a flexible platform for Peer to peer applications within Promether’s protected endpoints, Promether gives unhindered entry to testing of Promether’s secure communication app Contact.
Conclusion: Holo’s outstanding uses cases may be known now that Binance announced that it intends listing it. Right from the birth of the technology, the idea has been performing incredible in the world of blockchain.
Image credit: Holo