DTH: Token Spotlight: HOT (Holo Fuel) from Holochain

Token Spotlight: HOT from Holochain

This is the latest in a series of “Token Spotlights” that will feature new tokens listed in the Dether app. Discover what they are, and why they’re important.

You can now fund your Dether wallet with HOT from Holochain.

What is Holochain?

Holochain is an open source framework for building fully distributed, peer-to-peer applications, billing itself as “a more efficient alternative to blockchain.” Holochain can be used to build decentralized applications. Data on Holochain is stored in a decentralized way, much like BitTorrent. In addition, digital signatures guarantee the authorship of the data on Holochain. Because Holochain has no native currency and functions as a crypto-accounting platform, emphasis in on accounts, not coins. Invalid transactions, like increasing balance illicitly, are rejected by the network, thus eliminating the need for consensus and making computing more efficient.

Within the Holochain platform exists Holo, a distributed peer-to-peer hosting platform for Holochain apps (hApps), allowing anyone to get paid in Holo fuel for hosting distributed applications.

Using HoloTokens and Holo Fuel

Holo fuel is a Holochain-based currency redeemable for hosting. Holo fuel is a is a double-entry, crypto-accounting framework, backed by the computing power of hosts across the globe. According to Holochain, as the value of Holo fuel is connected to the computing capacity of the network of hosts, the capacity evolves and changes slowly, making it less subjective to major upticks and crashes. Holo fuel can be redeemed by hosting for other currencies to pay your bills, borrowed (based on your proven hosting track record) to pay for things, or used for micro-transactions.

There is no mining or staking involved in earning Holo fuel, allowing anyone to become a host and be compensated by application providers who want their hApp served to the web.

HoloTokens (HOT) act as temporary, transferable receipts which can be redeemed for Holo fuel.

Ready to store your HOT in the Dether wallet? Download Dether for Android or launch it as a PWA.

Original article was created by: DTH at medium.com

Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Please conduct your own thorough research before investing in any cryptocurrency or ICO.

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