Blockchain is an open, distributed, decentralized, public ledger that records transactions between parties efficiently. It is resistant to modification of the data. The bitcoin currently has a capacity to process about 7 (TPS) transactions per second, that is not even close to the worldwide payment processors such as Visa, that processes about 1700 (TPS).
Bitcoin/Ethereum network has scalability issues because, every transaction on the network has to go though the active “NODE”, and it must than verifies it before it reach consensus, otherwise the transaction fails. Traditional Blockchain has their limitations with fee, power usage and network speed.
HoloChain on the other hand works in an entirely different fashion. Unlike the traditional blockchain’s that are data centric, Holochain works on an agent-centric approach. In this model each agent runs their own chain that connects them to the public chain through a unique, cryptographic key (Hash).
In traditional blockchain, nodes must reach consensus and maintain a record of the entire blockchain. On Holochain, there is NO global consensus of historical data, so no stability or liveness. The agents only maintain their individual data (chain) and the cryptographic key connecting them to the public chain.
Data can be public/private. Different agents use different data at any point in time. Anyone can request any public data from the network, but nobody stores and verifies all the data all the time, thus making it faster than traditional blockchains.
Holochain combines DHT’s, hashing and digital signatures to form a tamper proof distributed ledger. For example: A data has a hash key (a mathematical fingerprint), If someone tries to modify it, the mismatch between the data and the hash will be noticed, and the data will be classified as invalid.
Holochain approach is very similar to that of Distributed Hash Table (DHT). The same tech behind Bittorrent Inc, which speeds up as more users join in (e.g. the more seeds, the faster downloads). DHT structure is faster and more resilient than traditional methods. They also put less strain on the network. And the content on a DHT is identified by its hash, and you always get exactly what you asked for. It’s impossible for the hacker to replace it with something dubious.
Many of the Ethereum projects got delayed due to the unavailability of Solidity developers (a unique language used by Ethereum to develop Apps) in the market.
Conclusion: Holochain is a far more efficient to blockchain. Holochain plans to rewrite the fundamentals of the internet itself. The grand vision behind truly decentralized, democratic, fairly distributed, yet secure internet, is one anyone and everyone can get behind.