Basically, according to my understanding, every "agent" gets their own immutable blockchain (a la solid[1] pod) that's stored on a DHT and hApps (an assemblage of personal smart-contract like functions) running in a WASM runtime on your local machine modify and interact with this chain. There's also some scheme in place to make your peers do validation and punish bad agents. And most interestingly, no tokens in sight. (in the core at least. they're using those for some adjacent projects...I think).
[0]: https://www.holochain.org/ [1]: https://solidproject.org/