(Updated Nov 12, 2021) I am not a financial advisor and this is not financial advice. Do your own research before investing.
Holochain (HOT cryptocurrency) is a "post-blockchain" platform for distributed apps. Instead of consensus being achieved by a blockchain proof, random peers validate the history of the user of the DApp. Also, a Holochain app is called a "HApp", anyhoo...
The Holochain team likes to say they, "push consensus to the edges" with their approach. I give a wider overview and important links for Holochain below the vid. Here's my overview:
Leave a comment below to discuss. Now for some of....
Holochain's Important Links
- https://www.holochain.org/
- https://holo.host/
- https://www.reddit.com/r/holochain/
- https://twitter.com/holochain
- https://coinmarketcap.com/currencies/holo/
- https://coinmarketcap.com/currencies/holo/markets/
- https://medium.com/h-o-l-o
An Overview of How Holochain Works
Holochain is a mix of technologies that have been around a while. It's sort of like Git and BitTorrent together. I think they throw in IPFS too! Each HApp is a separate network in the ecosystem. They like to use biology terms for developers, so the rules of each HApp is called its "DNA". I like it!
If a bad actor tries their shenanigans, their DNA rules will not be validated by the rest of that network and they will be kicked off. It's as though they have forked their own app and are playing with themselves...
Another buzz term word they use is "agent-centric". This means each user has a personal history (aka hash chain) within each Happ they use. That history is signed by their private key. Then it's validated by a random sample of peers using that same app only. (You might want to read this page a couple times and check out the Holochain site.)
A Bit (get it!) about Holochain Consensus
Consensus is not reached through proof of work nor proof of stake as with most blockchains. This design is trying to solve the scalability and speed issues that have plagued blockchains. An increase in users on the Holochain network actually makes it faster and more resilient. It means there are more peer validators!
Right now, the Holochain network is hosted on "Holoports" that have shipped to buyers around the world. An exciting feature is that Holoport hosts are earning HOT tokens (aka Holofuel) for being a host.
Their future goal is to allow anyone to share some computer or device memory by hosting, thus earning HOT. That would explode their adoption, in my view
Conclusion
Holochain is a unique and fascinating project to me. I like their lofty goals. They aim for truly distributed apps, being environmentally friendly, scaling massively and user privacy. It puts the user first and the approach to consensus make a lot of sense, though I am no scientist.
In their infancy, they had long delays in their production, but seem to be back on track now. The HOT crypto price also hit a penny recently, very cool. (Nov 2021) What are your thoughts on Holochain being a "blockchain killer"?
This is not advice, but Bitrue has HOT trading pairs. Be safe out there and keep your private info to yourselves!
Thanks for reading,
