Convert
Hong Kong Dollar (HKD) to Holo (HOT) Instantly
Purchase Holo (HOT) with Hong Kong Dollar (HKD) easily at Switchere and benefit from fast, secure transactions.
About
Holo (HOT)
Holo (HOT) powers a distributed cloud hosting marketplace for peer-to-peer applications built on Holochain, an innovative framework designed as an alternative to traditional blockchain technology. Holochain aims to solve scalability and adaptability issues inherent in many blockchain architectures by shifting from a data-centric model to an agent-centric one. This means each user runs their own secure, tamper-resistant ledger, enabling intrinsic data validation without requiring network-wide consensus for every interaction. This approach significantly enhances efficiency and reduces computational overhead, fostering a truly decentralized network. The Holochain framework enables the creation of hApps (Holochain applications) that are scalable, fast, and more energy-efficient than many dApps on conventional blockchains.
The HOT token, an ERC-20 token, currently serves as an IOU that will be swappable for HoloFuel upon the mainnet launch. HoloFuel is designed as a mutual credit currency, specifically for paying for hosting services provided by HoloPort operators and other hosts within the Holo network. This utility token facilitates microtransactions and access to computational resources, underpinning the economic model of this decentralized hosting ecosystem. Holo aims to bridge the gap between the existing centralized internet and the emerging decentralized web, providing essential Web3 infrastructure and empowering individuals by giving them control over their own data and applications within a peer-to-peer framework. It represents a significant step towards a more distributed and user-centric digital landscape.
How to Buy Holo (HOT)
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Frequently asked questions
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What exactly is the HKD/HOT trading pair and how does it function?
The HKD/HOT pair represents the exchange rate between the Hong Kong Dollar (HKD) and the Holo (HOT) token. It allows you to purchase the HOT digital asset using HKD through a cryptocurrency exchange that offers this specific fiat on-ramp. HOT is an ERC-20 token on the Ethereum blockchain, acting as a placeholder for HoloFuel, the future native currency of the Holochain network. -
What are the common methods to deposit HKD for purchasing Holo (HOT)?
To purchase HOT with HKD, most regulated Hong Kong exchanges require KYC/AML verification. The most common HKD deposit methods include using the Faster Payment System (FPS) for near-instant transfers, traditional bank transfers, or wire transfers. Using FPS is often preferred for its speed and lower transaction costs, enabling quick access to the exchange's order book. -
How does Holochain's agent-centric architecture differ from a standard blockchain?
Unlike a standard blockchain which requires global consensus for every transaction, Holochain uses an agent-centric architecture. Each user (agent) maintains their own secure ledger. Data is shared and validated on a peer-to-peer basis using a Distributed Hash Table (DHT). This design avoids blockchain bottlenecks, aiming to provide a more scalable framework for decentralized applications (hApps) and a more efficient data integrity engine. -
What is the function of HoloFuel and its relationship to the HOT token?
The HOT token is an ERC-20 'IOU' that will be redeemable for HoloFuel on a 1:1 basis once the Holochain network is fully operational. HoloFuel is the native, mutual-credit currency designed specifically for the ecosystem. Its primary function is to compensate Holoport owners for providing P2P networking and hosting power for decentralized applications (hApps), creating a micro-transactional economy. -
What are the security best practices when trading HKD for HOT and storing the tokens?
For secure trading of HKD to HOT, always use a reputable cryptocurrency exchange and enable two-factor authentication (2FA). After purchasing, it is highly recommended to withdraw your HOT tokens from the exchange to a personal digital wallet where you control the private keys. Since HOT is an ERC-20 token, it can be stored in any Ethereum-compatible wallet, such as MetaMask or a hardware wallet for enhanced security.