Holo coin is a native cryptocurrency of the Holochain network platform created and issued on Ethereum blockchain network platform whose transaction takes place from one peer to another without involvement by the government thus is being considered to be a decentralized asset. The holo coin was mainly created to enable different developers who create their Dappscalled Happs in holo platform to be able to use the coin to pay for the unlimited data storage space being provided by the different Holo validators via different holo hosts. The holo host rent their computing hard disk space to holo validators then holo validators use the shared hard disk space to store data of different Dapps created on holochain as well as retrieve it when their need arises thus in return they receive reward in form of holofuel paid by those Dapp owners.The more hard disk space you share the more reward you receive.Holo coin will also enable Dapp owners on the holochain platform to be able to create and issue the token of their Dapps thus they will be able to swap them back to holofuel.
Holo token transaction
Holo coin transaction takes place on the Ethereum blockchain explorer based on block height and timestamp. Here is a view of Holo coin transaction;
To view how the transaction takes place at Ethereum blockchain explorer, simply follow the link below; https://etherscan.io/token/0x6c6ee5e31d828de241282b9606c8e98ea48526e2
Holo coin project was launched in 2018 with the main objective of allowing different Dapps built on its Holochain platform to be able to use unlimited storage space provided by validators thus in return the validators receive a reward in the form of holofuel paid by Dapps owners.
Founder Of Holo token
Holo coin was created by a group of technologist team members. Some of the key team members include; Arthur Brock, David Meister and Nicolas luck, Erick Harris-Braun amongst others.Their main motive for creating this coin was to reward users sharing their computing hard disk space to several Dapps built on the holochain so that whenever the data of those Dapps is being requested the validators retrieve them using these leased computing hard disk space.
Process of creating Holo coin
Unlike other cryptocurrencies like bitcoin and ethereum which are released through mining using power supply and interent connection, for Holotoken, that is not the case. Instead, Holo token was created to become a proof of capacity coin. During its launch, 177 billion coins were minted to be distributed to investors and to be retained by the company. Since Holo coin is a proof of capacity coin it, therefore, involves some key parties like the holo host and the validators. As a holo host, you will be required to download the holochain for windows, mac, and IOS so that you can lease your free computing hard disk space to holochain validator who will use it to store and retrieve the data of Dapps(Happs) built on holochain thus in return they receive reward in form of holofuel paid by Dapp owners. The reward then gets distributed to several holo hosts based on the amount of hard disk computing space shared. The more computing space shared the more the reward to be received. For validators, their reward will be slashed if they try to cheat the system or they may end up losing being validators. Here is how Holo coin reward process looks like;
If you want to start sharing your hard disk space or want to become a validator so that you can store and retrieve data of different Dapps then you can join by simply downloading their holochain
Maximum circulation of Holo token
The maximum amount of Holo coin that is expected to be circulating in the Holochain network should be 177,619,433,541 coins. During its ICO, 132 billion coins were set aside for sale while the remaining amount which amounted up to 45 billion coins were held by the Holochain company.Currently, Holochain is in its testnet.When it goes to its mainnet, the holo token will be swapped to holofuel at ratio of 1:1. Here is how the distribution of Holo token looks like;
Holo token Price
Currently, 1 holo token is worth more than $0.0009 and its price is expected to increase over the next period of time. Holo coin is being abbreviated as HOT.
Converting my Holo token to other cryptocurrencies
To convert your Holo coin to other cryptocurrencies such as bitcoin and Ethereum, you need to have a cryptocurrency exchange account. If you don't own one then you can follow the link to open a cryptocurrency exchange account for easy conversion of your Holo coin to Bitcoin or Ethereum. Here is a list of exchanges where you can easily exchange your Holo coin to your favorite cryptocurrencies;
Storing my Holo token
To store your Holo coin, you need a Holo coin wallet that is compatible with ERC20. You can either store online or offline. To store your Holo coin online, you can either download their Holochain for windows, mac and IOS.You can as well use myetherwallet or metamask to store your Holo token online. To secure your Holo coin from being stolen by hackers, you can use a ledger nano wallet
Transferring my Holo token to other Users
If you want to transfer your Holo token to another user, the two of you must have trust in each other. The trust should be the Holo coin address provided for by the receiver while the sender must have the Holo coin balance in their account to send to the receiver. For the sender, a blank space to insert the receiver address and another blank space to insert the amount to send to the receiver is indicated. Here is how it looks like;
Knowing more About Holo token
If you feel that you need to learn more about Holo coin, then you can follow them on their site. Here is the link redirecting you to Holo coin platform website
You can as well read their white paper to learn more about their idea from below
You can also join as a community member in any of their social media platform from below to follow the discussion made by other community members;
Now that you know, I think that it is time for you to start earning some Holofuel coin by simply renting your hard-disk space to validators who will use the space to store and retrieve data when needed thus in return you receive a reward based on your shared hard-disk space. The more hard-disk space you share the more Holofuel coin you receive. If you feel that i should also own some Holo coin for simply helping you know about it then here is my Holo coin address that is compatible to ERC20.