Holochain (HOT)- Recently, Facebook was hacked and personal data for millions of users stolen. This has sparked conversation about centralized internet companies, and how much control they have over individual data. The problem is not in just how they use that data, but also in what happens if such data is stolen through a hack. The information that social networks holds is so much, that they understand an individual better than how the individual understands themselves. In essence, when such data is stolen, it exposes the individual to all kinds of risks online.
Part of the solution that is slowly gaining momentum is in decentralization, by having decentralized networks that give the individual full control over their own data. One platform that would make this possible and do so efficiently is Holochain. Through Holochain, it is possible to have decentralized social networks where the individual is fully in control of their data. There would be no need for a centralized social media company to hold your data. It is you, the individual that is in full control over what you have to share, while keeping your data fully protected through cryptography.
But would such an idea gain traction? Well, there is good reason to believe that such social networks would work. That’s because the excitement that people had with centralized social networks, when they first hit the scene is now being replaced with skepticism. This is quite clear in the increased demands for more privacy. In some places, like in the EU, laws are coming up that are geared towards protecting user-data. The conversation around centralized social networks and other internet services is also gaining traction in the mainstream media too. This shows that there is a growing need for decentralized social media, and once they hit the mainstream market, they could be as revolutionary as the centralized ones.
So why is Holochain the perfect fit for building such social media? Well, Holochain is quite unique in that unlike blockchain, it is agent-centric. This means that every agent gets to own an immutable hash chain, and can store public data as a DHT node. This makes any application built on Holochain lightweight, secure and highly decentralized. These are aspects that make it the perfect fit for decentralized social media. That’s because, other than the decentralization aspect of it, a decentralized social media would need to be highly scalable, and be easy to access via smartphones. You are talking millions of people using a network simultaneously, without affecting on its capabilities to load and upload stuff fast and efficiently. Since Holochain (HOT) has the technical capabilities to handle such, it is only a matter of time before world-changing decentralized social media applications emerge on Holochain.
For investors in Holochain (HOT), this is a reason to smile, and hold on tight to their investments. That’s because, once the Holochain tokens are swapped for Holofuel, Holofuel will be used to rent space on this decentralized ecosystem, and as high profile Dapps such as decentralized social media emerge, its value will rise significantly. It’s definitely a worthy hold, going by the changing dynamics in the macro-environment, changes that are leaning more towards decentralization.