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Holochain is a distributed network project with autonomous functionality for users embedded directly in its architecture and its protocols. The creators of Holochain argue that the distribution of their proposed type of storage and processing of data can change the order of coordination and interaction. Thanks to digital integration, under the control of the user, Holo can free users' online life from corporate control.
Key members of the team:
- Eric Harris-Brown: The co-founder of the project is an executive engineer who holds a degree in computer science from Yale University. He is co-founder of the peer-to-peer network application provider Glass Bead Software and the independent software development store Harris-Braun Enterprises. He is also the author of sophisticated health data collection websites, Android-based applications for catch monitoring for the fishing industry and other successful projects.
- Arthur Brock: The other co-founder is the chief architect who has extensive experience in the field of artificial intelligence technology, which initially applied to GM, Chrysler and Hughes. He then turned his attention to the creation of social architectures and Holochain is responsible for developing target currencies that form the social dynamics of the emerging post-industrial economy.
Main features
Unlike many cryptographic projects, platforms such as EoS, BitLattice and Holochain represent the evolution of block technology. They do not even use the blocks as such and avoid the linear arrangement of transactions ("block" progression). They provide cryptographic information control, but none of these projects requires the same amount of energy and resources consumed, such as Bitcoin and Ethereum.
At its center, Holochain is not a chain at all. It is more like "git-archives" that can be distributed, shared, synchronized or combined using the BitTorrent DHT technology (distributed hash table). Each application has its own Holochain and each operator has its own chain.
Holochain is a system book and application platform, similar to a blockchain, which, according to the developers, is not affected by problems like scalability and energy efficiency. Each device in the network receives its own registry (Holochain) and can operate independently, interacting simultaneously with all other devices in the network to solve decentralized problems.
Another name that is often referred to at the same time as Holochain is Ceptr. This parent project uses the Holochain infrastructure. It represents a new paradigm, which somehow reminds of the Internet. It uses blockchain-like technology, which is characterized by a lack of consent dependency.
Currently, the project authors are working on two initiatives: Holochain and Holo (Holo-Host). Holochain itself is a peer-to-peer infrastructure that serves as a necessary basis for Ceptr.
Token
The community will receive tokens called Holo Fuel. According to the technical documentation, they are intended for the implementation of large volumes of microtransactions. Holo Fuel is not a cryptocurrency or a token, but a sort of cryptographic credit created to link the transactions between the participants of the system.
Holo Fuel stability will be provided by the computing power of each device in the network. However, the authors of the project argue that the cost of cryptographic credits will depend on the number of hosts on the network and on the computing power used. With each new user, the value of the ecosystem will grow, also increasing the value of the tokens.
There are several essential features of Holo Fuel, including asset support, not using tokens and signing transactions on both sides of the transaction.
At present, the main currency of the Holochain network is the HOT token of the ERC-20 standard, which will be replaced by Holo Fuel after the launch of the final version of the platform.
TP
The developers claim that the processing capacity of their network transactions is unlimited. The fact is that every second transaction is almost meaningless due to the architecture of Holochain. Instead of supporting a single consensus, the Holochain distributed hash table contains a report on the main type and legitimacy of the information provided by the individual block chains. This eliminates the need to monitor every action on the network and the need for global consensus.
In simple terms, Holochain, as a framework for applications and has no limits on the number of transactions per second, because the ecosystem in which they should be implemented initially does not exist. This parameter is mobile and increases with the number of users on the network.
Target applications for Holochain
First of all, the project is suitable for panels that require more individual input with a limited copy available to everyone. The most direct example is online networking platforms. In addition, Holochain offers technologies for production network management, cooperatives, public platforms, reputation platforms or digital forms of money.
Road map
The roadmap of the project is shown below. Here you can see the new developments that come through the pipeline in the first quarter of 2019.
Price
We see that Holo receives a positive feeling from investors.
Its current market capitalization is about $ 75 million with an average turnover of $ 2 million over 24 hours. It still has a good reputation in the bear market, with returns of about 3.5 times in terms of US dollars, 20.68x in ETH and 7.8x in BTC. At the time of writing, it is currently trading at $ 0.0005 USD.
One could expect a prudent x2 in USD if the cryptic crypt would remain the same and x4 if the market capitalization would increase twice.
I usually invest in a stop loss to guarantee a risk premium of at least 1: 4 and buy weekly activities.
Featured image courtesy of Shutterstock.
