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What is Holo (HOT)?
Holo (HOT) is a token used on the Holochain network, a distributed peer-to-peer platform for hosting decentralized applications (dApps). It facilitates resource sharing and monetization within the Holochain ecosystem.
Key Features of Holo
- Distributed Cloud Hosting: Holochain utilizes a peer-to-peer network for hosting dApps, eliminating the need for centralized servers. HOT tokens are used to pay for hosting resources on the network.
- Scalability and Efficiency: Holochain aims to be more scalable and efficient than traditional blockchain networks by distributing data and processing across the network.
- HOT Token Utility: HOT tokens serve multiple purposes within the Holochain ecosystem, including resource payments and potentially network governance (subject to change).
Uses of HOT Token
- Paying for Hosting: Users pay HOT tokens to Holochain hosts for the computing resources required to run their dApps.
- Staking (Potential Future): While not fully confirmed yet, some sources suggest HOT holders might earn rewards through staking in the future.
- Governance (Potential Future): HOT token holders might have voting rights on proposals shaping the future of the Holochain network (subject to change).