Holochain Forum

Holochain Crypto creation thread Q&A

Hi, just looking for a better understanding of how any Cryptocurrencies created on Holochain would look and behave.

From what I understand the requirements are the owners of said currencies are required to hold their private keys. (That’s about all I know :smiley:)

But what I am trying to understand is what are the main selling points and advantages of a crypto created on Holochain?

So i will put some questions below, and if anyone can expand on them it would be appreciated.

Would every Crypto on Holochain be created as a hApp?

What are the benefits of doing so?

What if any would be centralization constraints?

Is it more suitable for an ICO or for a functioning cryptocurrency?

Would each currency have its own block explorer created on the hApp?

Would the creator have the option of making it completely private?

Is it possible for the creator to allow the currency holders to be auto-designated as hosts?

What are the methods for dealing with centralization for creator, would that need to be written into the hApp and if so what could that likely be?

Could a USD stable coin be created on Holochain, and if yes how would that interact with exchanges?

Could Holofuel be cloned to create a similar version of XRP?

Is every Crypto created on Holochain a clone of Holofuel or not necessarily?

Apart from KYC, what is in place is to protect end users for crypto created on Holochain?

If an exchange listed HoloFuel and I swapped BTC for Holofuel that would show up on the Blockchain but would it also be displayed somewhere on the HoloFuel or Holo hApp?

If there was say 10 current Cryptocurrencies running on Holochain, would the supplies of each and explorers of each be public or is that up to the creator?

Would crypto created on Holochain have the same send/receive (agreement )requirements in place for Holofuel or would that be optional to the creator?

Would any Cryptocurrency created on Holo have the same speed TPS as HoloFuel?

If I am the owner of a large mutliplayer gaming company could i create my internal currency using Holochain and keep it totally private and have it shown in game as say “gold” or “unicorns” or any other name? Would this also be a clone of Holofuel or not necessarily?

Could a Proof of Stake crypto be created on Holochain?

Could any other “Proof of” crypto be created, like proof of attention, proof of online etc?

Would every currency created on Holochain be it traditional crypto style currency with its own coins or tokens, or an internal payment system for a gaming site etc, all be classed as a cryptocurrency or as a digital asset?

Could a crypto be created that pays for proof of hosting? By that I mean, if I am hosting my currency creators app on Holo Host and I am being paid for it in Holofuel through whatever the default payment system is place, could that crypto creator also pay me in the currency of the crypto itself as an added incentive? Similarly could an a crypto exchange that I am doing shared hosting for also offer discounted fees to my trades automatically if I am also hosting it or other conditions are met?

Please add your own to this if you also have some.

1 Like

@WorldOfHolochain The simple and short answer from me is:
Please just read and review Mutual Credit Accounting in depth, if you don’t know about it yet, since currencies will be working base on the accounting than issuing and transferring the tokens.
and then I think these questions will be polished and most probably changed to another list of questions.

some suggestions:

Mutual Credit Cryptocurrencies: Beyond Blockchain Bottlenecks

Beyond Blockchain: Simple Scalable Cryptocurrencies

Building Responsible Cryptocurrencies

https://wiki.p2pfoundation.net/Mutual_Credit

3 Likes

Thanks for taking the time to find the links and share them.

But that doesn’t answer any of my questions.

What is the point of this forum? I was under the impression someone from the team would be here to answer questions and interact.

1 Like

Basically Holochain allows us to measure wealth in a completely new way. Ethereum, Bitcoin, etc. are all based on the old paradigm where money is this immaterial artificially scarce commodity. Holochain allows asset backed digital barter and gift economies.

"When I was growing up in Ecuador, I remember in the market place there would always be a couple men sitting by tiny tables with pen and paper and a line of people waiting for them to write letters, for which they would pay a small fee. This is a common sight wherever literacy isn’t universal. This situation is almost exactly the same we are in today with respect to money. We, and by we I mean our communities (not ourselves as individuals) are monetarily illiterate, and therefore we need others to make our wealth acknowledgment statements on our behalf (and we pay a pretty penny for it) when in fact, we could simply learn to write.

Learning to write in the monetary context, is simply issuing a currency. Or, more precisely, creating the symbols and rules that a community will use to make wealth acknowledgment statements. But the problem is that we don’t have an alphabet, a grammar that we can follow with which to make such statements. Our monetary system and the financial world behind it is essentially that 40,000 character dictionary and the scribes who can interpret it. It does work. It creates a system in which we can make wealth acknowledgment statements at a global scale. But it does so at a direct cost like paying the scribe in the marketplace, and also a systemic cost, that of allowing an elite who control that system to grow and take advantage of those who do not."

Source: http://eric.harris-braun.com/blog/2007/11/05/id-55

1 Like

Again thanks for replying, but I’m not searching for the ideology behind Cryptocurrency on Holochain, I am searching for direct answers to specific questions.

1 Like

Adding further questions that I have thought of recently.

If Holofuel is cloned into a cryptocurrency by a creator, and Holofuel requires both the sender and receiver to to audit each others chain is that process done manually or is it done automatically? How does the send/receive side of both Holofuel and cloned cryptocurrencies operate as far as countersigning goes?

Greenpaper says one party initiates the transaction leaving blank the fields the counter party must complete.

Would this slow things up if sending to or from an exchange, can this be automated?