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What is Holochain (HOT) and how does it work?

by Financial Economy

Holo Token (HOT), created with the Holochain system, is one of the crypto coins produced on the ERC-20 base. Produced by ICO studies, HOT 2018 was released in April. HOT, which does not rely on the data center system like other blockchains, has a representative-centric system. Detailed information about what is Holochain (HOT) and how it works can be found in the rest of the article.

What is Holochain (HOT) and how does it work?

Holochain acts as a database for peer-to-peer applications. Allows everyone to host their own tamper-resistant data, ensuring data integrity and verification of state changes. Holochain applications are versatile, flexible, scalable, and thousands of times more efficient than blockchain (no coins or mining required). Information about Ethereum, you can browse here.

Holochain is called data integrity protocol for applications using Distributed Hash Table (DHT) that gives each participant its own “chain”. Holochain cannot be considered as a blockchain, except for the meaning of “chain” in its name. Using the motto “Beyond the Blocks” or “Beyond the Blocks”, Holochain indicates that the network introduced in this way is different from blockchain. Sharing information with Distributed Hash Table is similar to using Torrent. Holochain’s work goes back to 2008.

Until the Holochain system is operational, it is the crypto money produced on the ERC-20 base to promote the project and generate funds. In the planning, when the Holochain network was active, users would have made a 1: 1 Holo Fuel swap for the Holo Token they hold, and only Holo Fuel would be traded in the markets. But according to the official statement made by Holochain; It was decided to make changes in the swap transaction.

According to the statement made by the Holochain official authorities; Some changes have been made to the exchange process. According to this; While the Holo Token (HOT) will not be withdrawn, it will continue to be traded on stock exchanges. It was noted that those who want to make transactions within the Holochain network or developers will be given Holo Fuel 1: 1 in exchange for the Holo Token (HOT) they hold, and Holo Tokens will be kept in the reserve account.

For information about crypto currency: https://en.wikipedia.org/wiki/Cryptocurrency

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