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A Data Structure For Scalable Distributed Computing.
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Holochain intends to be an "agent-centric" open-source framework for building distributed peer-to-peer applications.
Holochain relies on two different levels, a global level that is built as a validating distributed hash-table and a local level, where every dApp or smart contract has its own database with its own validation rules (i.e., 'DNA') including the optional choice of a consensus mechanism. This means Holochain has one 'chain' per app. The global level ensures data redundancy to guarantee data availability and acts as a bridge among dApps to announce violators of local validation rules in a gossip-style manner.
Holo, on the other hand, is a distributed peer-to-peer hosting platform for Holochain applications. Holo uses a variant of Proof of Authority called Proof of Service, where the past behaviour across various dApps is used as a benchmark for "Authority" or "Service to Holo".
The intent is to allow people to access dApps built on Holochain without having to run the Holochain engine themselves. Holo thus "does to web hosting what Airbnb did to hotels: anyone can become a host by turning their computer into a source of revenue, getting paid in HoloFuel for hosting distributed applications".
The roughly 133bn ERC-20 token, HOT, can be converted into HoloFuel (HOLO) at a 1:1 rate, are, however, not burned, but simply taken out of circulation. The intent is for HOT to serve as a bridge between HOLO and other crypto assets. HoloFuel is a Holochain-based currency that represents a contractual service obligation, redeemable for hosting.