Holochain is an open-source framework. It aims to build secure, reliable, and fast peer-to-peer applications. Unlike traditional server-based models, this framework supports the development of decentralized applications (DApps) without the need for blockchain technology.
Essential information for their token is available on the MEXC Digital asset introduction page. Furthermore, we are listing (HOT/USDT – Trade it here) on the Innovation Zone! Check it out now!
What Exactly is Holochain?
In a simple term, Holochain is trying to provide a new form of decentralized internet. It offers a scalable and energy-efficient alternative to existing distributed ledger technologies powered by blockchain. Furthermore, it provides a framework and toolkit for developers to build decentralized applications (DApps) without relying on blockchain technology. On Holochain, these DApps are known as Holochain applications, or hApps.
Holochain applications are versatile, resilient, and scalable. They also boast efficiency thousands of times greater than blockchain since they require no tokens or mining. The primary goal of Holochain is to facilitate human interaction through mutual consent to a shared set of rules. This eliminates the need for any authoritative body to impose or alter these rules. In return, this peer-to-peer interaction ensures that users own and control their data, without intermediaries like Google, Facebook, or Uber collecting, selling, or compromising it.
With data ownership, users gain new levels of agency, allowing them to do more with their data. Imagine truly personal AI designed to serve the user, rather than the corporation that created it. This user-centric approach enables the creation of composable and customizable applications.
While blockchains typically tokenize everything, currencies in Holochain are optional. They also work best when issuance occurs through peer actions, such as ratings, or via double-entry accounting.
What is The Difference Between Holochain and Blockchain?
To Understand the difference between Holochain and blockchain, we must first learn about their individual features.
Blockchain
Blockchain technology was first introduced with Bitcoin. It operates by processing transactions within a network in blocks. Each transaction generates a unique hash, and any alteration in the block changes the hash, indicating a different transaction has occurred. Furthermore, these transactions are broadcast publicly to every node in the network on a ledger, ensuring transparency. Each block also contains information from the preceding block, forming a continuous chain.
Holochain
On the other hand, Holochain is a newer form of distributed ledger technology. It presents a significant challenge to traditional ledger technologies. Nodes in the Holochain distributed ledger independently confirm transactions. Each node maintains its own version of the ledger and utilizes the network protocol to determine transaction validity. Once verified, this validity is retroactively shared across the network. Any misconduct results in the offending node being swiftly blacklisted, safeguarding the integrity of the entire ecosystem.
Difference Between Holochain and Blockchain
While both Holochain and blockchain share similarities, Holochain aims to offer a more dynamic and faster structure. Blockchain focuses on decentralizing transactions to enable direct user interaction without intermediaries. Meanwhile, Holochain distributes these interactions among users.
Holochain allows users to conduct unlimited transactions per second through its distributed networks, creating a vast network without transaction limits. In contrast, blockchain networks rely on a single network for transaction initiation and verification. This leads to increased fees and computational burdens as more blocks join the chain.
Furthermore, Holochain nodes operate on their own chains. This provides more computational space and eliminating the need for miners, resulting in minimal transaction fees and the absence of tokenization. Instead, smart contracts govern the platform.
Blockchain employs a “data-centric” approach, using consensus algorithms like Proof-of-Work (PoW) or Proof-of-Stake (PoS) for global consensus or majority confirmation. Holochain, however, adopts an “agent-centric” approach using distributed hash tables (DHT) with rrDHT, allowing each node to verify and confirm transactions independently. These individual verifications are then randomly broadcast across the network, enabling peer validation and ensuring the integrity of the data by detecting any modifications or invalid transactions.
Is Holochain Scalable?
Theoretically, Holochain is infinitely scalable as a decentralized application network. Its architecture promotes high scalability and efficiency. Each participant maintains their own chain, allowing the network to handle numerous transactions without requiring consensus from all nodes for every transaction.
Furthermore, the total transaction throughput depends on the number of nodes operating within the network. Since each independent node maintains its own ledger, network congestion is avoided during transaction validation. The more nodes that join the ecosystem and earn rewards for hosting dApps, the more transactions can be processed simultaneously.
What is Holo?
Holo is the link between Holochain and the mainstream Internet. It is a distributed peer-to-peer platform that hosts hApps and bridges them to the Internet. Users can become part of Holo’s network by sharing unused storage and computing power through the Holo Host application or dedicated HoloPorts hosting devices. As an incentive, hosts are rewarded with HoloFuel, the project’s native, asset-backed, and mutual-credit currency.
Where to buy HOT Token
You can find HOT Tokens here at MEXC! We are listing HOT/USDT in our Innovation Zone! Furthermore, you can now enjoy 100% spot trading fee discounts on MEXC. Get your HOT tokens now!
What is the Price of HOT Tokens?
The HOT Token is currently trading at MEXC with a live price of $0.001679. You can check the live price of their token right here!
How to buy HOT Tokens on MEXC
You can buy HOT Tokens on MEXC by following the steps:
- Log in to your MEXC account. Click on [Spot].
- Search “HOT” using the search bar to see the available trading pairs. Take HOT/USDT as an example.
- Scroll down and go to the [Spot] box. Enter the amount of HOT you want to buy. You can choose from opening a Limit order, a Market order, or a Stop-limit order. Take Market order as an example. Click [Buy HOT] to confirm your order. You will find the purchased HOT in your Spot Wallet.
You can find a detailed guide on how to buy HOT Tokens here.
Get Free Airdrops with MEXC Launchpad!
Did you know MEXC gives out 50+ free airdrops weekly? Launchpad and Kickstarter events ensure that all our loyal MX token HODLers receive a ton of new tokens! Learn all about it at our MX Zone now!
Meanwhile, check out all of the listings in the Innovation and Assessment zones as well as the major tokens in the Main Zone – we have more amazing projects to come! Visit the Hot Trending section as well to uncover more featured popular tokens. Lastly, feel free to visit MEXC Academy to learn more about cryptocurrency!
Join MEXC and Start Trading Today!
