Holochain - Distributed Applications and Computing - Eaglesinvestors

Holochain is an efficient post-blockchain ledger system and decentralized application platform that uses peer to peer networking for processing agent-centric agreements and consensus system between users.

It is so ambitious as it considers itself beyond and above the typical blockchain. Relative to the distributed application infrastructures such as Blockchain, Holochain applications operate exponentially faster and cheaper.

Moreso, instead of a decentralized model, it functions with a distributed blockchain model for developing a leaner, more efficient network.

In other words, Holochain works as a distributed computing network that performs faster than blockchain technology. The platform claimed to have unlimited scaling capacity via peer-to-peer networking so that as distributed apps added, there is no destruction in the performance of the network.

What is Holochain?

The Holochain blockchain platform is one such crypto token initiated to optimize the functioning of the decentralized applications and smart contracts.

It is said to be superior, because it’s an agent-centric and not a data-centric network like the usual blockchain, so it’s near infinitely scalable and decentralized because each agent is independent and can process.

Moreover, the Holochain blockchain platform predominantly seeks to shift its focus from a data-centric blockchain initiative to an agent-centric Blockchain initiative.

So, it would be highly amusing to know that the crypto blockchain platform does not incorporate any consensus mechanism; hence there must be other kinds of an alternative.

Also, Holochain blockchain platform is compensated by the Side Chains that can develop on a particular new node of the network. Therefore, the process significantly reduces stress from the primary blockchain and therefore provides infinite scalability.

Another exciting component of Holochain is its capacity for supporting a wide variety of consensus or agreements systems between users. For instance, Holochain enables Proof of Service consensus system, where a user gets compensated in cryptocurrency.

What Makes Holochain Different?

Holochain signifies an alternative for blockchain technology that offers its users with distributed applications and computing using HoloPorts.

In this case, HoloPorts permits the network to scale because of the network load offloaded across all the nodes linked to the system.

Moreso, Holoports are the network nodes of the project that optimized for hosting the network and need to be bought directly from the project. But while they currently come as preset hardware, the Holochain team promised that in the future people will manage to install Holo software on their hardware.

The system, however, has some inherent weaknesses. Due to the entire blockchain needing verification from each member of the network, scalability problems quickly develop. Therefore, the more significant the amount of information handled, the more restrictive the limit of transactions per second that can grow on the blockchain at any one time.

This is why some cryptocurrencies like Bitcoin have such long transaction times and low limits.

Where can you store your holochain tokens?

You can store you HOT tokens in any ETH wallet, i.e., MyEtherWallet since they are ERC-20 compliant. But, on MyEtherWallet, you have to generate a wallet address and finish the setup process. Secondly, you have to add some ETH currency in to trade it for HOT tokens. Lastly, once you complete the exchange, you will have safe storage for your HOT tokens.

However, other storage options include hardware wallets such as Trezor and Ledger Nano S. You can also store them on Jaxx and Exodus as they are also compatible storage wallets for HOT.

NB Holo is also working on launching its official wallet; so users will be able to use the wallet for their Hot tokens.

Is Holochain Environmentally Friendly?

Holochain sees itself as an environmentally friendly alternative compared to traditional blockchains. Because there is no hustle for each agent to store and authenticate the global blockchain; The platform only consumes a fraction of the bandwidth of traditional blockchains.

Moreso, Holochain also does not have a mining component; so there is no processing power or electricity spent on proof-of-work calculations.

Should you invest in Holo?

• Holo struggles to resolve the problem of centralization that exists within the blockchain technology. So, the project offers blockchain services without the pressure of technical expertise and computing requirements. Therefore, the platform functions for the common man.

• Holochain has something different to give in terms of hosting and sharing information while generating revenue simultaneously. So, it has a team of expert professionals to provide the project with the best shape.

• The platform works on the traditional double-entry bookkeeping concept that offers a kind of legitimacy to its idea from a users’ point of view. Therefore, much of its potential focuses on the fact that it is a friendly alternative to the blockchain technology.

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