What is HOT Token by Holochain?
par LCX Team · · Updated October 22, 2021
HOT Token is the native crypto currency of Holochain.
Trade $HOT at LCX Exchange
Sign InWho Created the $HOT Token?
Arthur Brock and Eric Harris-Braun are the co-founders and creators of Holochain. They have been designing alternative currencies since the 80’s and have been working on Holo since before the Bitcoin whitepaper was written. To protect the incentives of users, founders and developers, Holochain is owned by a non-profit foundation. The company’s advisory team also includes Ryan Bubinski, the co-founder of CodeAcademy. In June, Holochain announced a new strategic partnership with Promether, an Adaptive Symbiotic Platform (ASP) that implements all the networking, security and anonymization code applications that are required to protect their data.
Holochain enables a distributed web with user autonomy built directly into its architecture and protocols. Data is about remembering our lives and shared experiences. Distributing the storage and processing of that data can change how we coordinate and interact. With digital integration under user control, Holochain liberates our online lives from corporate control over our choices and information.
Holochain is an energy efficient post-blockchain ledger system and decentralized application platform that uses peer-to-peer networking for processing agent centric agreement and consensus systems between users.
How does the $HOT Token Work?
Holochain enables any device to have its own chain based ledger system. By using a holographic model for data storage and transfer developers can now create decentralized applications that can scale in multiple dimensions across a network ensuring they are truly distributed. This enables every device on a network to function independently, and only requires the synchronization of data when necessary, or agreed upon by users. This means every user is in control of their own data, and never has to risk their data being sold or exposed to 3rd parties like what just happened with Facebook and Cambridge Analytica.
Holochain provides a framework for developers to build decentralized applications and aims to change the paradigm of data-centric blockchains to an agent-centric system. In Holochain’s fledgling system, no true global consensus is maintained. Instead, each agent in the public blockchain maintains a private fork, essentially, that is managed and stored in a limited way on the public blockchain with a distributed hash table. This means there are no scalability limits and dapps hosted on Holochain can do much more with less of nearly everything than traditional blockchains.
Benefits of $HOT
- allowing for the currency supply to be dynamic in response to actual market behavior of its users
- being asset-backed by the hosting resources of the network.
- a steady and stable trajectory without being value-static or requiring a peg.
Holochain (HOT) is also available at LCX Exchange.
Register or Login at LCX to start trading $HOT.
