Technology has continued to evolve and has come a long way and keeps changing to solve modern real life problems. The entry of blockchain was seen as the epitome of it all until flaws begun to come out glaring. Holochain (HOT) seeks to clear these bottlenecks and in particular, scalability, without a blockchain. Will this be technically viable or it is just another over-hyped token?
The new Holochain approach has attracted a lot of interest and has made the token become the hottest topic in the crypto verse. Unlike the data centric Bitcoin where data is hosted by the network participants connected by a blockchain, Holochain is agent-centric which does not restrict scalability, a problem many ecosystems has been unable to overcome.
What Makes Holochain Stand out from the Crowd?
Holochain deploys a decentralized data storage algorithm that has been used successfully in the torrentng industry. The platform uses the distributed has tables (DHT) that gives users the ability to download files from different hosted sources in bits. This is a shift from the convectional blockchain system.
This simply means that Holochain does not ride on a ledger to process its transactions. It uses select nodes to bring together some sections of the DLT. The evenly distributed nodes make it possible to eliminate the “ledger” and process transactions to achieve the highest levels of scalability that have been elusive in the older generation platforms.
Holochain is Flexible and Gives Developers More Powers
Most old generation coin systems have been overtaken by user demands and changing governance rules has always ended up in software upgrades, soft or even hardforks resulting in new coins because the participants have no lee way to change the rules.
Holochain makes life easy to the developers through the DNA feature. These are rules set by individual dApp participants them to set their rules. This gives them a responsibility and additional flexibility as long as they do not go against the DNA or “ground rules”. Simply put, individual dApps have set DNA or rules that guide them in decision making.
These rules are fool proof to ensure there are no flaws that can lead to conflict of interest. Rules are set before the dApps are included on the platform and these are hat makes dApps run seamlessly and avoid repeating the mistake of Ethereum Solidity lapses that led to the DAO Hack.
Impeccable Holochain Security and Immunity
The DNA or set of rules gives Holochain impeccable security and immunity based on individual applications. For instance is developers have a Uber-like-dApp and its DNA states you cannot rent out two cabs at the same time, such a transactions will be rejected by other network nodes since it goes against the DNA rules.
To achieve network immunity, Holochain nodes are pointed to individual DHT and respective dApps that had specific set of rules or DNA. This makes it hard to break the ground rules since any form manipulation is detected and the information is relayed across the network thus enhancing its immunity.
Holochain (HOT) Price Check
Holochain (HOT) price has been on the rise from mid-August and continues to hold despite the bearish market. However, the resilience of the price is not hype based but investors are focusing on the technology driving Holochain rather than the current value proposition.
At press time, the HOT token price stood at $0.001205 after a 24-hour trading session that saw it gain 8.67% and 6.66% to the dollar and Bitcoin respectively. The same period has seen a total of $9.05million worth of HOT change hands with 82.17% of the total volumes passing through Binance. The popular days pairs were HOT/BTC and HOT/ETH.