Convert
Singapore Dollar (SGD) to Holo (HOT) Instantly
Purchase Holo (HOT) with Singapore Dollar (SGD) 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 is the SGD/HOT trading pair and what does it represent?
The SGD/HOT pair allows you to purchase the digital asset Holo (HOT) using the Singapore Dollar (SGD). It acts as a fiat on-ramp, where SGD is exchanged for HOT on a cryptocurrency exchange. HOT is currently an ERC-20 token that funds the development of Holochain, a framework for building scalable distributed applications (hApps) that don't rely on traditional blockchain architecture. -
What payment methods are common for buying HOT with SGD?
To buy Holo (HOT) with Singapore Dollars, users on regulated Singapore exchanges typically use local bank transfers like FAST or PayNow for SGD deposits. As direct SGD/HOT pairs can be rare, a common pathway is to deposit SGD, purchase a major cryptocurrency like BTC or USDT, and then trade it for HOT on the exchange's order book. All transactions require KYC/AML compliance. -
What distinguishes Holochain's technology from standard blockchain?
Unlike blockchain's global consensus model, Holochain uses an agent-centric computing approach. Each participant (agent) maintains their own secure ledger. Data is stored and validated peer-to-peer using a Distributed Hash Table (DHT), similar to BitTorrent. This architecture is designed to be more scalable and energy-efficient, making it ideal for hosting complex decentralized applications (hApps) that require high throughput. -
What is the relationship between Holo (HOT) and Holofuel?
HOT is a temporary ERC-20 token that served as an IOU during the project's initial funding. Holofuel is the planned native asset of the Holochain network. Once the network is fully operational, HOT token holders will be able to perform a token swap to convert their HOT into Holofuel on a 1:1 basis. Holofuel will be the micro-currency used to pay hosts for providing computing resources to hApps. -
What security practices are essential when handling SGD and HOT?
Always use a reputable cryptocurrency exchange that complies with MAS regulations for SGD transactions. Enable two-factor authentication (2FA) on your exchange account. After acquiring HOT, which is an ERC-20 token, it's best practice to transfer it from the exchange to a secure, non-custodial digital wallet where you control the private keys. Be wary of phishing scams and never share your wallet's seed phrase.