We know that decentralization is a major characteristic of both blockchain technology and cryptocurrencies that should not be compromised. However, it often so happens that concerns about centralization surface, thereby posing a threat to the very precepts of the technology in question.
While decentralization is a major buzzword in the world of crypto and blockchain, social applications are a recurrent feature of the modern virtual world.
Combining the two could yield a rather a potent idea and the Holo platform and its crypto token (HOT) attempt to bring the two together.
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In this article, we will have a quick look at what the Holo platform and its associated cryptocurrency are really all about.
What is Holo Cryptocurrency?
Holo is basically a decentralized platform meant for multiple usages and the Holo Cryptocurrency is the native token of this platform.
Its primary area of operation is to allow users to host social applications in a space that lies outside the centralized framework of internet applications as we know them.
Cloud computing is expected to form the basis of this decentralized hosting space where a peer-to-peer infrastructure will allow for the running of appropriate social applications.
The users who host the said decentralized space need not have any special hardware or even any minimum level of knowledge or expertise.
They can simply host these social applications on their computers and receive payments in return. The hosting prices are not fixed by any central authority and the users have the full autonomy of choosing them.
The Holo Cryptocurrency or HOT is used for facilitating all hosting price payments within the platform itself.
Who Developed Holo?
Artificial Intelligence expert Arthur Brock and software Infrastructure specialist Eric Harris-Braun have co-founded this platform.
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What Are The Uses of Holo Cryptocurrency?
The following are the areas where the Holo platform and its cryptocurrency may be used:
1. Creation of a Sharing Economy
Holo was created with the objective of promoting the notion of a sharing economy.
By establishing cooperatives that enjoy a great deal of interoperability and by allowing them to communicate with one another effectively, Holo gives them the tools to build an adequate sharing economy. Holo offers the ability to have micro-transactions and this feature allows users to trade resources of various scale with one another.
2. Sharing and Managing Databases Securely
The use of blockchain in healthcare holds immense potential and Holo serves to bolster this use case effectively.
The platform can be used by medical professionals to not just record data in an efficient way but also share it with others and go through analytical data built around it.
Since medical data is so sensitive in nature, it helps to have a secure transmission system in place that allows for the appropriate storage of huge volumes of medical data and the correct sharing of it.
3. Building a Communication-Oriented Ecosystem
Holo platform and its cryptocurrency are based upon a P2P structure or a peer-to-peer framework.
There is no scope for centralized control. Instead, users can just communicate with one another securely.
How to Buy and Store Holo Cryptocurrency?
One can buy Holo (HOT) from top cryptocurrency exchanges such as Binance, DDEX, IDEX and CoinCodex.
Storing them is also fairly simple as they are ERC-20 compliant tokens. Among other Ether wallets, you can simply build a wallet on Myetherwallet.com and store it.
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