Welcome to the online press kit for Holo
Holo: Where the Crowd is the Cloud
New platform allows web users and developers to share computer capacity in exchange for value-backed currency, on a blockchain alternative that won’t destroy the Earth or subject users to extreme volatility
Bitcoin and other popular blockchain technologies come with hidden flaws: they waste energy and are subject to massive volatility. As the cryptocurrency market cap races towards $1T, there are signs the blockchain method of peer-to-peer banking won’t be sustainable once it reaches regular consumer adoption. It’s not even sustainable today, despite making up only 0.1% of the traffic handled by a single major credit card processor.
One Bitcoin transaction now uses as much electricity as nine U.S. homes do in one day. By July 2019, the bitcoin network will require more electricity than the entire United States currently uses. At this rate, by February 2020 the Bitcoin network will require all electricity on Earth. Energy waste isn’t the only problem, though. Leading cryptocurrencies are also susceptible to artificial inflation. Volatility causes massive sell-offs and buying sprees. Big losses destabilize peoples’ lives in the real world.
To head off these problems, leaders in software and digital currencies have been working for a decade to design a more human internet – one that allows people to claim their piece of the cloud, control their personal data, and choose how their applications work. All while getting compensated for making these choices, in a value-backed currency that was designed for efficiency and scalability out of the gate. Holo is their brainchild.
Holo (pronounced hoe-low) is a distributed hosting platform which allows users to share their computer's spare capacity to help others’ connect to peer-to-peer apps. When people use the apps, Holo adopters will be rewarded in Holo fuel, a value-backed cryptocurrency.
Holo launched a 60-day Indiegogo crowdfunding campaign on December 5, 2017, passing it’s goal within four days. Currently the campaign has more than doubled its goal with $482k coming from over 1,000 backers. Alongside the crowdfund, Holo is launching an Initial Community Offering (ICO) in the next few weeks, with a starting cap of €2.5 million, and a final cap of €25 million, dependant on demand. Whitelisting for this ICO is open now.
Holo has quickly captured the imagination of early adopters worldwide. These are folks who want to take back the internet from a few mega-corporations that now control it by creating a distributed network, and compensate users for hosting. This holds the potential to shift the financial paradigm and create a new web ecosystem with greater security, scalability and value for those who use it.
The framework for this idea is Holochain, a distributed application infrastructure that is like a distant cousin of the blockchain. Unlike most traditional blockchains, Holochain does not require every node in its network to reach consensus to approve a transaction (the flaw behind blockchain’s massive energy inefficiency). Lemmings jumping off cliffs is an example of consensus decision; consensus isn’t always good. Holochain wastes less energy, and allows more transactions per second at a cheaper cost per transaction. What costs $10,000 on the Ethereum network only costs $1 on Holochain. Once built to scale, this will allow it to perform micro transactions at a rate far cheaper than credit card processing.
You would never buy a gallon of milk with a speculative asset like Bitcoin, but you definitely could with Holochain. Holochain isn’t just a magic idea in a white paper either, it is available in alpha today. Some of the myriad of potential practical applications that developers could start include:
* A rideshare app run by riders and drivers without a monopoly in the middle dictating terms. Holo hosts would get paid for helping host a website where anyone can book a ride.
* Apps that help emergency responders coordinate with one another in the aftermath of a disaster, without needing a connection to a Silicon Valley data center. Unlike today's centralized applications, apps on Holo run just fine on a local network, or an on-the-fly mesh network.
* A community of rural homeowners who generate, store, and share electricity using solar panels, windmills, small water turbines, and backup batteries. Holo fuel is designed to handle exactly these sorts of micro-transactions.
Holochain was created to do more than survive collapsing markets and relieve pressure on Earth’s resources. It’s designed to allow anyone with a computer or smartphone to “get paid to put the crowd in the cloud.”
For instance, Amazon is the fourth largest company, and 10 percent of its business is cloud computing. However that portion is more profitable than the other 90 percent. Amazon Web Services will easily surpass $15billion in hosting revenue for 2017, and Holo wants to put some of that potential revenue back into the hands of the users.
“We are looking to disrupt that, so that each individual who has a computer can essentially eke into Amazon’s market,” says Matthew Schutte, director of communications for Holo.
The goal is to allow anyone to share their computer with the same ease they might rent out a spare room on Airbnb.
By allowing everyday users to capitalize on their own computing capacity, Holo aims to spread the wealth now being monopolized by a few giant corporations.
“In this century data is the new oil, and we all freely give up this valuable commodity to companies who sell it to third parties,” Schutte says. “They consider that data the most valuable resource, and so should you. You should have control over who gets it, and have informed consent to what they do with it.”
Which brings us to another major problem Holo aims to solve: internet security. Centralized systems put data and security in an “all eggs in one basket” scenario. Where large databases of passwords are stored in one place, they can all be stolen at one time.
Decentralized and distributed networks like Holo is building spread data over a larger surface, costing more resources for those who would disrupt it or steal it. Although leaks are always possible, and nothing is un-hackable, a distributed network makes the attack less appealing to the attacker because of the complexity of the system.
To grow this new network, Holo seeks to tap developers across the web so that as many distributed apps as possible can be built on it, growing the network into a proper ecosystem. To accomplish this Holo has bootstrapped a development pipeline to be easy and fast, hosts hackathons to train developers, and offers 1:1 consulting services.
Holo is also capping its ICO at €25M, the estimated cost to complete the project. This amount was determined through traditional burn-rate style estimates, and using demand demonstrated by the successful Indiegogo campaign of Holo’s plug-and-play Holoports, available in three sizes and prices. The plan is to begin shipping Holoports in the first half of 2018, and to launch Holo/Holochain on a consumer level in summer, 2018.
Holo’s ultimate goal is to disrupt the blockchain world, dethrone cloud service models, and create more ethical data practices. Holochain isn’t putting the crowd in the cloud; it will allow the crowd to put itself in the cloud – and pay the crowd to be there.
Download a FAQ by Matthew Schutte, Director of Communications.
For more information, visit www.Holo.host and Holo's blog, www.Medium.com/H-O-L-O.
Got questions? Go to our Holo Support Knowledge Base.