About Holo (HOT)

Overview

Holo or Holochain (HOT) is a data structure used to build decentralised applications (dApps), or hApps (Holochain applications) as they like to call it. Holo differentiates from other protocol tokens, such as Etheruem or NEO, as there is no native currency. To quote their website, "It's a roll your own currency crypto-account platform." Holo focuses on accounts running on the network, concentrating on invalid transactions and illicit activity, rather than the currencies that are transacted on the network. This eliminates the need for consensus and allows Holo to operate in an extremely efficient fashion compared to similar currencies. To quote Arthur Brock, Holos co-founder "All of the nodes that are participating (in blockchain) have to synchronise one chain. They have to end up with one global ledger, which means essentially everybody has to do all of the work. So there's a fundamental scalability problem: It doesn't actually get more efficient as you add more nodes. It gets less efficient."

Technology

Holo isn't even considered a blockchain by its developers. Holo could be better described as a cloud that is built and maintained by the crowd. Rather than every node validating transactions and storing a copy of the blockchain, every hApp runs its own Holochain on its own terms. Users are the hosts, and as more users join, more hosting power and storage becomes available. Every device run by every user acts as a web server of the applications user interface, and a data store for the application's data. Holo's structure is different from traditional blockchains. It's not about having a distributed ledger that everyone is connecting to. Instead, the individual chains are validated against each other and checked by their neighbour. This makes Holo extremely scalable as the network becomes more efficient and resilient with growth.

Future Focus

Holo plans to run over 10,000 host devices on their testnet in Q4 2018. Other goals include implementing backward compatibility, increasing the number of security audits and launching their app store. Aside from that, Holo will focus on establishing and maintaining partnerships and encouraging widespread adoption. For more information on Holo visit their official website.

A wallet is essentially a bank account for your cryptocurrency and the wallet address is like your account number. The sender of the cryptocurrency needs a wallet address so they have somewhere they can send it from their wallet, much like a bank transfer. This wallet is giving you access to the blockchain where you can view your balance, send and receive cryptocurrency.

For information please read our beginners guide to cryptocurrency wallets.

POLI - internet banking

POLI is secure and fast. It links directly to your internet banking – login with your normal details and the rest is easy. No extra fees or surcharges. Watch this short video to see how it works.

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Storing your coins with Wallets

A wallet is essentially a bank account for your cryptocurrency and the wallet address is like your account number. The sender of the cryptocurrency needs a wallet address so they have somewhere they can send it from their wallet, much like a bank transfer. This wallet is giving you access to the blockchain where you can view your balance, send and receive cryptocurrency.

For information please read our beginners guide to cryptocurrency wallets.

Pay with POLI. Its fast!

POLI - internet bankingPOLI is secure and fast. It links directly to your internet banking – login with your normal details and the rest is easy. No extra fees or surcharges. Watch this short video to see how it works.

About Bitcoin

Bitcoin (BTC) is a form of digital currency in which encryption techniques are used to regulate the generation of units of currency and verify the transfer of funds. Transactions are stored on a distributed, immutable, online, public ledger known as a blockchain. Bitcoin was the first truly decentralised cryptocurrency which was created by a programmer under the pseudonym Satoshi Nakamoto and was released in 2009. The system is peer-to-peer, verified by network nodes and recorded in a public distributed ledger called the blockchain. Bitcoin can be exchanged for other currencies, products, and services with over 100,000 merchants and vendors accepting bitcoin as payment. Bitcoin can also be held as an investment. There are only a fixed number of Bitcoin will ever be mined (21 million), it’s not controlled by any one government or central bank, and there’s no such thing as quantitative easing or fractional reserve banking. These qualities make Bitcoin excellent as a store of value and a long-term safe-haven asset, similar to gold.

A Bitcoin success story that went viral on social media is Kristoffer Koch from Norway. Koch invested around $27 in Bitcoin in 2009 and then forgot about it for four years. He remembered about his Bitcoin wallet in 2013, which had then grown in value to $886,000.

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