Holograph: Mainnet Alpha is Live
Holograph is now live on the Ethereum, Polygon, and Avalanche mainnets! Holograph makes creating multichain digital assets 10x easier, cheaper, and faster.
Why Holograph?
The recent proliferation of execution environments in the form of L1s, sidechains, and rollups has increased access to inexpensive blockspace. As this trend continues, it’s reasonable to assume that there will be as many execution environments as there are tokens and that there will be thousands of them.
However, without a clean way for these environments to interoperate, data and liquidity fragmentation will continue to be an issue, leading to increased development overhead, security risks, network congestion, and higher fees.
What's Holograph?
Enter Holograph, which provides multichain digital asset infrastructure for the web3 ecosystem. At its core, Holograph enables the deployment of natively multichain digital assets, which are assets that exist as single instances across multiple execution environments.
What Are Natively Integrated Multichain Digital Assets?
Non-fungible tokens minted with Holograph (hNFTs) maintain the same contract address and token ID on all EVM environments, enabling them to move between networks with perfect provenance. Fungible tokens that are wrapped with Holograph (hTokens) maintain the same contract address on all EVM environments, providing a clear and concise method for auditing locked liquidity.
With Holograph, all digital assets are minted equally. If the properties of a digital asset are the same on all execution environments, then it doesn't matter on what network the digital asset was originally minted.
Holograph renders network tribalism obsolete.
What Are Natively Integrated Multichain Apps?
Ultimately, the introduction of natively multichain digital assets makes it possible for smart contracts to interoperate seamlessly across all EVM environments. This enables the development of an entirely new class of user experiences: natively integrated multichain apps.
Natively integrated multichain apps:
Are built with cross-chain interactions in mind from the ground up
Hide the complexity of cross-chain logic behind simple, unified interfaces
Combine digital asset liquidity across multiple execution environments
What's Holograph App?
The very first natively integrated multichain experience is Holograph App, which provides interfaces for creators to create, deploy, mint, bridge, buy, and sell multichain digital collectibles.
Holograph App empowers creators by enabling:
The deployment of collections on multiple networks simultaneously
The distribution of collections on multiple marketplaces on multiple networks
The collection of royalties on multiple marketplaces on multiple networks
Holograph supports multichain creator sovereignty by removing the boundaries between execution environments and empowering users to transact wherever they want. If a user wants to transact quickly and cheaply while perhaps sacrificing security, then they should be able to do so. If a user wants sovereign-grade decentralization while perhaps sacrificing speed, then they should be able to do so.
Holograph App is the first of many use cases that demonstrate the power of natively integrated multichain composability.
What's Holograph Protocol?
Underlying Holograph App is Holograph Protocol, managed by Holograph Foundation.
Holograph Protocol empowers developers by providing:
A command-line interface for protocol interactions
APIs, Libraries, and SDKs to build natively integrated multichain apps
How Does Holograph Protocol Work?
Holograph Protocol consists of specially configured factory smart contracts that are deployable on all EVM execution environments. These smart contracts leverage the CREATE2 functionality of EIP-1014, which allows for the same bytecode to derive the same contract address on any EVM environment.
Data persistence is achieved by the Holographic Bridging process, which combines the CREATE2 opcode with the reciprocal burn and mint method when bridging digital assets between networks.
For more on the reciprocal burn and mint method, check out this thread.
For more on Holograph Protocol, check out the Protocol Specification.
What's the Operator Network?
Holograph employs use of Operators, which is a network of ecosystem participants who execute bridge transactions for users (aka “jobs”).
Operators reduce user friction when bridging digital assets by:
Reducing the number of txs needed to execute the process
Removing the need to switch networks
Removing the need to manage multiple gas tokens
To execute jobs, operators must bond the protocol’s native token, HLG, issued by Holograph Foundation. The probability of getting selected to execute a job is based on the number of tokens bonded - the more tokens bonded, the higher the probability of selection. Operators who successfully execute jobs earn bridge transaction fees plus HLG rewards. Operators who fail to execute jobs will have a number of their bonded tokens slashed.
For more on Holograph’s Operator Network, check out the Operator Network Specification.
What's Next for Holograph?
Over the next 3 to 6 months, Holograph plans to:
Add new networks
Update Holograph App’s interface design
Enable creators to distribute digital collectibles on a personal drop page
Introduce third-party developer modules
Thanks for reading and make sure to keep in touch!