Why own a Holochain Wallet

Why own a Holochain Wallet

Holochain Cli is an open source product of work that is known as a framework for creating decentralized apps. Holochain breaks the blockchain and decentralized apps into two major types of camps. These two types are data-centric and agent-centric. The data-centric group refers to the group where every node in the system is downloading and analysis every kind of ledger. Bitcoin falls into this type of group, the data-centric group. As this ledger is been analyzed, the aim is to come to an agreement with one kind of data. This is not so with agent-centric because it does not focus on truth or one blockchain nor one type of ledger. Holochain Wallet is agent-centric in nature.

Every chain on the network maintains its local source of data. Everybody is hosting theirs, it is a self-version control system, and it is totally decentralized. Just like other, the transactions are signed in what is called the hash tray where you can access the reference to the previous transactions. Therefore, you can verify everything, every transaction historically. Usually, this is designed in a private space manner in that all the nodes are privately analyzed. This means other nodes in the network are not aware of what other nodes private space. This helps in the scalability aspect because it means not every node has to validate what other node are doing in their private space. This is what you get with Holochain Node.

If you are familiar with a peer to peer payment mode like bitcoin, you will find that once one node that is handling something goes down, then all that data goes offline. This is not so ideal. Therefore, in addition to this private space strategy, Holochain offers you a DHT, which stands for the Distributed Hash Table, which is actually a public space where the node shares information between one another. This means that anything provided in a private space and is pushed to the public space becomes reproduced on several nodes, creating redundancy. Therefore, if one of the nodes handling your transaction goes down, you don’t entirely lose your data. Holo node has you covered.

However, this method is just storage of data; it is not validating anything like in the case with Bitcoin. It is not running any set of rules against that data. Also, DHT as a concept doesn’t really provide validation of data. What it does majorly is to store up data in a peer to peer way. What Holochain does it to add validation rules over the DHT, which are distributed? What this says is that the public nodes must run this validation set before they accept and store the data locally. All these are procedures put in place by Holo Cli.

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