Bitcoin’s central mechanism — the Blockchain — is a monumental achievement in computer science. And from that central achievement, many other cryptocurrencies have emerged attempting to improve on that model in one way or another. Holochain has come along to further decentralize, maximize efficiency, and allow for all types of interfaces and applications to be built with it. Holochain harnesses the parallelism of BitTorrent to powerfully distributed apps.
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Holo Website: holo.host
Holochain website: holochain.org
Holochain FAQ: https://holo.freshdesk.com/support/solutions/folders/36000006791/page/2?url_locale
Holo Green Paper: https://files.holo.host/2017/12/Holo-Green-Paper.pdf
Summary of Architecture: https://github.com/holochain/holochain-proto/wiki
Mattermost chat server: chat.holochain.net
Indiegogo crowdfunding campaign: igg.me/at/h-o-l-o
What is holo?
It’s a DHT (distributed hash table) system, works just like torrents do. P2p with decentralized computing power (internet) in a ledger.
ICO went smoothly, started with a low $20m market cap. There was no presale or private sale. Public crowdsale community has 75% of coins to team’s 25% (below average these days). At the time of writing Holo is x11 ICO price.
Ico price: 0.0000002267 ETH/HOT
The first apps already developed including the following: Clutter (a P2P Twitter clone), Fractal Wiki (serverless Wiki of cards within cards within cards), HoloChat (a Slack-like multi-channel chat room for teams & DPKI) which is a secure, decentralized cryptographic key management tool.
The code is open source. Team is transparent.
HOT is known as a metacurrency
MetaCurrency is the name for the infrastructure and protocols necessary for an open source economy, and free currencies to flow in an interoperable and standardized way. This requires new technological capacities which need to function in a non-monopolizable manner.
Open Identity: create, manage and own your identity in a trustworthy manner, independent of any central authority.
Open Rules: Know the rules of any currency you participate in and see when they change.
Open Transport: A protocol to enable a participant to transact with any other participant and a currency to interact with any other currency.
Open Data: The ability to share, decentralize and distribute data (like your account balance) and ensure its integrity and privacy. Also this allows you to be a reliable authority of your own data. (you can represent your own accounts, and I can validate your data.)
By sharing data and not using a single blockchain, Holochain reduces the energy and time involved, while avoiding being dependent on the decisions of unaccountable groups of computing “miners”, as so many blockchain projects are.
Been in development over 10 years. Which is longer than blockchain has been out itself. They have avoided becoming a security to the utmost degree.
Total supply: Dynamic
What does that mean? It works like BitTorrent. The more people that seed a torrent, the faster you download your file on average. In fact, the more people that jump into a torrent, the better the network functions.
The issue is that traditional blockchain doesn’t work on this protocol. Holo uses a double entry accounting system by which they settle account differences on their own chains locally and then publish to the hash table after.
Short/Long Term Influences on Holofuel
What drives value?
- Current market for decentralized and centralized hosting through Ethereum, Amazon Web Services, and others.
- Demand for distributed computation, personal data ownership, and hosting
- Number of hosts, and their prices based on ability to run on cheap hardware
- Popularity of apps and usage levels of hosting power on the Holo network
- Relative demand from hosts for redeeming out into each reserve currency
Short-Term Expected Influences on Holo fuel
- Hosts likely to receive massive revenues at ICO or token market rates (which will yield aggressive pricing)
- Initial rapid fall in hosting prices means a rapid rise in buying power = currency value
- Migration of noteworthy projects from blockchain will boost Holochain’s credibility
- News of high hosting revenues would attract many hosts causing a glut of hosting supply
- Non-token Holo fuel not accepted by many exchanges
- Bugs in early Alpha releases of Holochain
- Attacks on security model of hosting and currency
Long-Term Expected Influences on Holo fuel
- Easy use of Holo fuel from Holo dApps will expand application and reach of currency usage
- Once supply and pricing algorithms have reached reasonable equilibrium, prices should stabilize making more users feel safe to try cryptocurrency.
- Alliance with other emerging asset-backed currencies expand safe/stable crypto user base
- If regulators shut down cryptocoins, Holo fuel may continue to operate because it is crypto-accounting.
- Many competitors may enter the market once Holochain’s architecture has been proven
- Attacks on value stability and pricing algorithms
- Governments that restrict use of cryptocurrencies
How is holo different from blockchain?
Instead of trying to manage global consensus for every change to a huge blockchain ledger, every participant has their own signed hash chain (countersigned for transactions involving others). After data is signed to local chains, it is shared to a DHT where every node runs the same validation rules (like blockchain nodes all run the same validation rules. If someone breaks those rules, the DHT rejects their data—their chain has forked away from the holochain.
Hashchains: Hashchains provide immutable data integrity and definitive time sequence from the vantage point of each node.
Cryptographic signing of chains, messages, and validation confirmations maintain authorship, provenance, and accountability. Countersigning of transactions/interactions between multiple parties provide non-repudiation and “locking” of chains.
DHT (Distributed Hash Table) leverages cryptographic hashes for content addressable storage, while randomizing of interactions by hashing into neighborhoods to impede collusion, and processing validation #1 and #2 to store data on the DHT.
Holographic storage Every node has a resilient sample of the whole, version exactly the same as anyone else, If half of the English speakers simply vanished, it would not degrade the language much. With the nodes they can build on top of one another, meaning more computing power.
Holochains can build on decentralized capacities provided by other Holochains, making new holistic patterns possible. Like bodies build new unity on holographic storage patterns that cells use for DNA, and a society build new unity on the holographic storage patterns of language, and so on.
How is holochain Different from _____?
What kind of projects is Holochain good for?
Sharing collaborative data without centralized control.
- Social Networks and Social Media type apps without a company in the middle, holding your data.
- Supply Chains & Open Value Networks that span organizations or countries but are not under the central control of any one of those organizations.
- Cooperatives and New Commons, truly held collectively and not by any particular individual.
- Peer-to-Peer Platforms where every person has similar capabilities, access, responsibilities, and value is produced collectively.
- Collective Intelligence: Governance, decision-making frameworks, feedback systems, ratings, currencies, annotations, or workflow systems.
- Collaborative Applications: Chats, Discussion Boards, Scheduling Apps, Wikis, Documentation, etc.
- Credit Cryptocurrencies: Where issuance can be accounted for by actions of peers (like ratings), or through double-entry accounting
There are currently three different models that will each support the distributed internet. The higher the ram and memory the more computational power you have. The more data you can compute the more holofuel you’ll get because you will be able to support more apps.
Holoport nano $99 usd has 2GB RAM, 8 GB storage
Holoport $449 usd has 8 GB RAM, 1 TB storage
Holoport+ $999 16 gb RAM, 2 TB storage
How do holoports work?
Connect to internet, choose what apps you want to host, share your holo ports computing capacity to process/store apps, earn holofuel. You can even daisychain holoports, meaning linking multiple holoports into one to increase your computing power.
Holotokens are ERC20 they will be exchanged 1:1 with Holo fuel upon main net release.
Mainnet release: q4 2018
Summary and Anticipation
Holochain is a next step in the blockchain industry. Someone may call it “the Blockchain killer” or Blockchain 4.0. It may be the next big thing that disrupts blockchain technology as we know it. Incredibly tech-advanced, it needs a clear explanation to the masses. That’s where we see one of the obstacles to get more momentum. However, shilling has started already so be careful when trying to buy in. At the moment of discovery (beginning of May), it was about 0.000608 USD. It has grown significantly since (0.001683 now) to $225 586 894 USD in CMC. Try to buy in within a next correction, that coin is a must-have in your portfolio. It may be one of the biggest 2018 winners.
Price anticipation: Long-term realistically x500 is theoretically possible. In USD end of year we can see it going $0.10-$0.20 with main net in 3-6 months. We are exceptionally bullish because this is something that has been in development for 10 years. Github is loaded. Upon ICO release it exploded x11 ICO price In just 2 weeks which is only the beginning of what kind of returns this project can give us. It’s different, revolutionary. We are early adopters. Could very well “be the next big thing”.
The Ticker is $HOT and the tokens can be purchased on the IDEX exchange.
It will be tradable on Binance from July, 24th 2018.