Holochain can be identified as a blockchain alternative. While normal blockchain networks work to reach data-based global consensus, Holochain focuses on to solve scalability, speed and interoperability problems with the unit-based system.
What is Holochain?
On a regular blockchain, all the contributors synchronize the same ledger and reach global consensus. But in the Holochain system, every participant has its own hash chain and hash tree. Hashes contain a unique signature for every contributor and these signatures are identities of every file or contributor. Thanks to signatures, users can make mutual transactions. Network participants data recorded locally and shared with the distributed hash table (DHT) according to the desired transaction type. DHT‘s are very similar to regular blockchains by their validation rules. Every node in the network reaches to a consensus and if is there any off-the-rule transaction attempt, that attempt won’t be recorded into DHT.
How does Holochain Work?
The most important feature of Holochain is its ability to share common data without any central control. We can think of a fully decentralized Wikipedia as an example. As you know, Facebook sells or uses its customer data and with Holochain it is possible to create a decentralized social media platform without a third party such as Facebook. Right now there is an application called Clutter which is similar to Twitter. It is possible to create Holochain based supply chains and internal information-sharing platforms for companies.
It is not suggested to use Holochain with anonymity-required transactions because every data needs to be shared with DHT so it invalidates the privacy. Moreover, Holochain is not suitable for huge sized files and transactions too.
How to Buy Holochain (HOT)?
Holo (HOT) is the native cryptocurrency of Holochain. You can buy HOT easily from the world’s leading cryptocurrency exchange Binance.
