Hello everyone ^^ Today I thought we could talk about Holochain, and get our opinions out there.
What is Holochain?
Holochain is a rather new blockchain technology, all things considered, but it has been making tremendous leaps and bounds in the short time it has been around. Holochain is a lightweight, decentralized application building framework, much like Ethereum, Neo, and many more of this architecture. That being said, there must be something that makes Holo different from these aforementioned products,
Holo is powerful, secure, relatively new, and capable of incredible transaction speeds, due to their differing proof work. In blockchains like Bitcoin, proof of work is the method used to verify validity of blocks produced on the chain. This is extensive and wasteful. Holochain uses an ‘Agent-Centric’ approach, where each Agent of the chain, maintains his/her own local copy of the chain. This allows for much for scalability when it comes to transactions. It becomes much like the internet at this point. the number of transactions per second, is limited solely by the numbers of Agents/Servers available.
As one might be beginning to question, wouldn’t having a personal copy of the chain for each Agent, give you many new chances to trick an agent into allowing fraudulent transactions to be placed onto the chain? One method of ensuring security on the chain, is the ‘contract’ that makes up the application. On holochain, this is known as DNA, and anything that would go against an applications DNA structure, changes the hash of the block, and effectively forks the user into his own private malicious chain, unable to affect anyone else.
Aside from this above, every single transaction on the chain is also signed with a unique fingerprint, thus leaving evidence to who the attack originated from. Furthermore, Holochain enforces something called a ‘Gossip Protocol’, which is essentially allowing Agents to ‘gossip’ with eachother, about users who have been known to break the rules, and are perhaps now considered untrustworthy.
Time to take a look at coin economy! We are currently sitting at 0.0005 cents, essentially at an all time low, along with the market it seems, so this is lookng like a solid place to pick up, as it has already risen to 0.001 shortly after a recent Binance listing. Some decent 24h Volume going, as well as a rather small market cap of only 77.2 Million USD. Taking that into account, we have a circulating supply of 133.2 Billion, and a total of 177.6 Billion.
This coin is definitely not going to be reaching a buck anytime soon, but I wouldn’t find a penny to hard to shoot for. Its been making some nice waves between 7 and 11 Satoshis, though I must admit it has been quite slow moving, as it seems everyone wants a piece of this action. The buy walls have been over 130 BTC for days. This is an interesting coin for me to play as a new trader, as the price never really seems to bottom out to much. coins like GAS, EOS, you buy in at 30$, or 16, hoping to ride to 50 or 60, o 30/40. The thing is, you can fall all the way down as well, and reach a point in the market where you might never return. Both GAS and EOS are sitting at 5 bucks a piece right now.
In my opinion, when you see low sat coins like this taking a sharp dive, and you get a chance to bail out much more often than with others, making it much easier to recuperate losses. it is also quite easy to make profits. buying at 8 and selling at ten, is a nice quick 20% profit. What do you guys think? This is all just a newbies opinion, but the masses seem to agree! I want to hear all of your opinions!