Holochain Is A Realistic Alternative To Blockchain!

Holochain is not another typical Blockchain. Operating on an opensource “Hashchain” protocol that preceded the blockchain, Holochain is a more efficient, scalable and adaptable technology. Is Holochain looking to usurp core Cryptocurrency projects such as Bitcoin and Ethereum? Well no. According to the project’s developers,

“Holochain and blockchain are built for fundamentally different use cases. Blockchain is relatively good for systems where it’s absolutely necessary to maintain global consensus. Holochain is much better than blockchain at anything that requires less than universal consensus (most things)”.

Similar to the Blockchain, Holochain is a decentralized technology based on nodes. Unlike most Blockchain implementations however, these nodes do not need to reach consensus prior to adding data to their local chain. Each node can add data as is required, locally. Data is then validated and shared among the nodes using Holochain’s distributed hash table solution (DHT).

Validation is necessary before any data stored in one hashchain is shared across others. Each node has its own security protocol called the DNA to securely transfer data using verified signatures. Each node that receives a record of a transaction validates it against the shared application rules and then passes it on to its peers – this process is aptly named “gossiping”. If the rules are broken, the transaction is rejected by the validator and it not added to the shared database.

Given its lighter consensus structure, Holochain is good for building projects like social network and social media, supply chain and open value networks, P2P platforms and collaborative applications. It is however not the best solution for storing and sharing private and secret data.

Holochain is not the project you can find on Coinmarketcap, Holochain is the protocol and is different to Holo (HOT). Holo is an implementation of the Holochain protocol, acting as a bridge between the community of distributed Holochain apps and the current centralized web. In short this enables users to connect to the network and sell excess storage and processing power to support the Holochain protocol, in exchange for HOT.

In simple terms, “Holo does to web hosting what Airbnb did to hotels—anyone can become a host by turning their computer into a source of revenue, getting paid in Holo fuel for hosting distributed applications.”

The long-term goal of Holo is to expand the community built on and around Holochain apps until the majority of people switch to Holochain as a programming platform.

The only Holochain implementation currently with a token is Holo, HOT. Currently HOT trades at $0.000690 – (71)% from its all time high reached on 5th June last year. HOT trades with a daily volume of approximately $3M across 15 exchanges and 23 trading pairs including Fiat and Crypto. During the last 365 days it presented a volatility of 180% and correlation of 55% with BTC and 54% with the market, where the market includes the first 200 coins by market cap.

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