Holo’s (HOT) Holochain Offers Decentralized Solutions To Security Woes

Debate on the amount of power that centralized Internet companies command on people’s data refuses to go away. The situation appears to be getting out of hand, as hackers continue to target the likes of Facebook. However, Holo’s (HOT) Holochain believes it has a solution that would put the debate and further concerns to rest.

Centralized vs. Decentralized Systems

Blockchain is one of the few technologies that could solve data privacy issues and give people control over their data. Thanks to the technology, decentralized networks are slowly cropping up as a replacement for centralized networks. Holochain has since taken the lead in making the case as to why decentralized social networks are essential.

For the longest time, centralized systems have acted as custodians of people’s data. The fact that data is stored in centralized systems such as servers has left it vulnerable to hack attacks. However, with the help of blockchain technology that Holochain is leveraging, the issue could be a thing of the past.

Decentralized networks differ from centralized networks on the fact that no individual or authority is ever in control of data. Data, in this case, is stored in a number of computers all over the world, encrypted using cryptography. The only person who can access data in a decentralized network is the owner using decryption keys.

The idea about decentralized systems is slowly gaining traction as people look for alternative privacy and data protection solutions. The excitement that people had when they first joined centralized social networks is slowly cooling off. Need for privacy has left them with no choice but to look elsewhere.

Holo’s (HOT) Holochain Solution

Calls for change on how centralized social networks and Internet services operate continues to fuel the need for decentralized networks. While decentralized social networks are yet to hit the market, they are sure to be a huge success once they do.

Holochain, unlike other decentralized networks, is agent-centric. What this means is that every agent can own an immutable hash chain. In addition, they can store public data as a DHT node. Holochain, as a result, tends to be lightweight, highly centralized, and secure.

This set of attributes makes it an ideal decentralized social network for people tired of centralized systems. The technical capabilities at hand could soon see a number of social media applications erupting from Holochain.

RISK DISCLOSURE

This article should not be taken as, and is not intended to provide, investment advice. Users are ultimately responsible for the investment decisions he/she/it makes based on this information. It is your responsibility to review, analyze and verify any content/information before relying on them. Trading is a highly risky activity. Do consult your financial adviser before making any decision. Please conduct your thorough research before investing in any cryptocurrency and read our full disclaimer.

Join our Telegram Group To Stay Up To Date With Crypto News