Deep Dive Project Analysis — Holochain
This is probably the least understood project in crypto space. Holochain is a project that wants to improve on the limitations of blockchain itself. It is not a traditional project built or forked on a Blockchain.
Holochain provides a data structure that you can build your apps on, much like Ethereum but it claims to be ten thousand times more efficient than Ethereum. The team claims it has all the advantages of a Blockchain but none of the disadvantages.
Holochain, often confused with Hot token, is actually a different project with a mammoth vision. Hot token is just a temporary implementation by the team till their own ecosystem is ready.
This seems straight out of the popular TV Series Silicon Valley, but the vision of Holochain is to create a decentralised internet. While a lot of projects in crypto / Blockchain space make tall claims, the credentials of Holochain team and support from the likes of Jim Cook, Mozilla’s CFO and Co-Founder of Netflix separate it from every other project.
Holochain aims to create this decentralised internet by adopting all the advantages of Blockchain (and BitTorrent) but eliminating the need for consensus, which should make the system more efficient. It does provide a secure distributed ledger that is tamper proof, just like Blockchain, but instead of consensus mechanism, it matches hashes which will make it much faster. In contrast, the current Blockchain projects are facing a big scalability challenge where Bitcoin does a handful of transactions per second on its Proof-of-work mechanism, Ethereum plans to shift to Proof-of-Stake soon. Even Proof-of-stake blockchains have not yet proven to be as fast as they need to be for viability of large scale applications.
Holochain also makes the whole network agent-centric which means any device can run its own ledger and be a part of the network. Even smartphones can run Holochain.
Holo hosting network
This is the hosting network that will be based on Holochain and will use Hot tokens as “fuel”. Slated to release in Q3 of 2018, this seems to be the least understood part of the whole ecosystem.
Hot token is a temporary ERC-20 token offering which will be replaced with Holo fuel once the ecosystem is ready. One other noteworthy thing is that Holochain does not have a native currency like Bitcoin is considered for Blockchain or Eth for Ethereum Blockchain but anyone can create their own chains which you can merge, split, interact with and create your own token.
The idea behind this token Holo fuel is not to be a currency but a medium of exchange of value. This means a user transfers Holo Fuel only when a particular Service is delivered. Also, the purpose of this token is to be more like a barter token. So when users exchange data, hosting or services, the tokens just keep circulating between the users and the whole community is engaged.
The company came up with a basic hardware box that they sold through a campaign on Indiegogo. This box will host and run the Holochain peer-to-peer network and are meant to be useful for people who are not tech savvy but want to host their own internet. This is a step towards decentralisation but for those who are a little more tech savvy, they can run the host on regular computers.
The roadmap has some heavy deliverables in the Q3 and Q4 of 2018. Right from testing the network on the first 2000 Holoport hosts to Holochain Alpha 3, Core App services and an important milestone of 100 million transactions per hour using Holofuel
The team, led by Arthur Brock, consists mostly of engineers, researchers and UI/UX designers. The project has complete focus on tech and community. Holochain community plays a big factor in the development.
Holochain is a post-blockchain technology that is energy efficient decentralised app development platform that is truly peer-to-peer without the scalability issues of existing Blockchain projects.