Holochain Blockchain platform and it’s acceptance in the crypto world.
In barter systems, some kind of human interaction can be observed, but take a moment to realize the current situation, in which the service is primarily bought and sold. The human beings inherently are hardwired for such interactions with the other people and live as a society as a whole, but when we replace a service with a piece of paper (currency), human beings get a feeling that they did something for the other person but the other person just replaced it with a future promise. As a long-term consequence of which human beings are inherent, suffer from loneliness as well as a lack of trust between each other. However, currencies have transformed the way the financial economy works and also have added on to the efficiency of the cryptocurrencies. Let’s get to know about Holo Coin and How Holochain works?
The Holochain Blockchain
The Holochain Blockchain platform is one such cryptocurrency token initiated recently, in order to optimize the functioning of the Smart contracts as well as the Decentralised applications. The Holochain blockchain platform predominantly aims to shift the focus from a data-centric blockchain initiative, towards an agent-centric Blockchain initiative. It would be highly amusing to know that the cryptocurrency blockchain platform doesn’t incorporate any kind of consensus mechanism, therefore there must be some or the other kind of alternative. In case of Holochain blockchain platform, this is compensated by the Side Chains that can be developed on a particular new node of the network. This process significantly reduces stress from the main blockchain and therefore provides with infinite scalability.
How does it actually work?
According to most of the professional expert from various fields, it has been estimated that the name of the Holochain Blockchain initiative, is pegged to the hologram. Which is indirectly used to simulate a 3D picture. Specifically, the Holochain blockchain platform also uses the holistic mechanism for its technical operations. Here, each node maintains its own blockchain, and the blockchain interacts with the sidechains through their unique Cryptographic key.
As the Holochain blockchain platform uses the concept of SideChains, the speed of the transactional confirmations os certainly not a bottleneck. The Blockchain platform uses the Hash Table data structure where key information about all the SideChains is stored in them. The Holochain network continuously grows in size, and so is the inf8vifual transactional capabilities.
As the Holochain platform, doesn’t incorporate any form of Consensus mechanism, it is highly eco-friendly in nature and occupies a very negligible amount of bandwidth when compared to major blockchains like Bitcoin and Ethereum. This nature of the holo tokens has made them one of the most beautiful things for the environmental issues as no electricity wasted as such. The team members of the Holochain are some of the most highly experienced in the field of programming. The Co-founders itself have an experience of 34 years in the field of programming. Also, the Chief architect of the cryptocurrency project has been a contract coder along with working on Artificial Intelligence and an online currency development, since the year 1984.
Is it worth investing in?
Investment in the coin can be expected but since it is not as popular as other coins on a relative scale, it might not form a great fit in portfolios. During its ICO in 2018, it managed to raise almost $20 million in ETH. Staking funds is not free from risks, in this vulnerable crypto domain and an expert consultancy is recommended prior to taking any such initiatives. It is available on Binance and can be stored in any ERC 20 powered crypto wallets.