Holochain is now

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After only two days Holochain on indiegogo the Holochain project has been backed with over 70% of their funding goal.

In contrast to the blockchain ecosystems we’re used to, Holochain is a massive improvement. Here are a few problems that are being tackled:

1.) Blockchain size. Holochain uses several hashchains, each for every app that lives in it’s own p2p network. Together with the possibilites of bridging, this dramatically reduces the overall blockchain size for single users. In other systems this has been partially fixed by providing powerful nodes that keep the blockchain in sync locally, while clients connect to these nodes in a centralised way, especially on these devices that are limited in processing power and storage space, such as mobile phones. Because these client softwares appear to be comfortable to use (no more syncing upon client launch), this de-facto defeats the idea of decentralization and makes the network vulnerable.

2.) Energy consumption. With Holochain there is no energy waste, since “mining” is done through execution of meaningful code. There is no proof-of-work, which basically executing a large amount of non-sense code just to slow down the participants in the network. You earn Holos by serving holo apps, a concept that is called proof-of-service by their inventors.

3.) Centralisation. Holochain is truly distributed, because it is requiring general purpose hardware for maximum “mining” efficiency. This supports a homogenic areal distribution of “miners” (the correct preferred term is “hosting box” here), which is currently a huge problem with bitcoin.

I think this looks very promising and of course I have backed the indiegogo campaign. The Holochain team offers three official versions of mining hardware to intially build a network, which is aimed at people who want to instantly get a Holochain node up and running without tinkering about technical problems.

Links: Whitepaper Holochain Website FAQ The team behind Holochain Holochain on github