Holo Technology
The central framework of Holo is named HoloChain and is a system of blockchains where every node operates on a separate blockchain. All of the blockchains function with cryptographic keys which are unique to each node. This concept was responsible for the removal of the scalability problem on the blockchains since every node had to update its record on the public network. Since each node had its blockchain, there was no data loss when a node went offline. The primary public blockchain continues to operate further without any impact.
Holochain uses the Distributed Hash Table (DHT) to verify data on each nodal blockchain. The table is maintained by the Holochain central chain. The developers explained this concept with an analogy of the living organisms’ DNA. The hash table verifies but also stores the data from individual nodal blockchain similarly to having a cell stores information in a DNA.
The Holo Fuel is the crypto-credit that the users receive for their hosting services. The fuel is backed by a shared computing power between the hosts and this makes the network valuable and gives more purchasing power to the credits. All of the transactions on the platform are recorded as double-entry accounting entries. The internal accounting system is similar to a balance sheet that allows no minting, mining or burning the coins. This way the balances are always equal and Holo’s net currency supply remains always nil. The platform also features the decentralized peer-to-peer architecture where all of the nodes are different.
With the proof-of-service protocol, the platform can generate invoices for the services that it offers. The system acts as a bridge between the centralized web and blockchain.