We all know that Ethereum is code-centric meaning that anyone with little or no technical knowledge is unable to build dApps on it. The Bitcoin network, on the other hand, faces issues such as low network bandwidth, low storage, high transaction fees, and high consumption of electricity. Fortunately, several new blockchain projects have sprung up in place to offer alternative blockchain protocols. One of these projects is Hathor, which has proven to be a popular option for developers and end-users. Let’s learn what is Hathor Network and how to perform a Hathor swap at the best rate.
The Hathor Network is a scalable, easy to use distributed ledger platform that supports light financial transactions and smart contracts. It utilizes a hybrid architecture design that combines DAG (Direct Acyclic Graph) and blockchain technology. Simply put, it is a blockchain inside a DAG, with both being intertwined together. When the number of transactions on the network is low, the blockchain ensures security. When the number of transactions increases significantly, the DAG takes over.
As reiterated earlier, Hathor has been created to solve some of the issues that are prevalent in current mainstream blockchains. Below are some of the issues that face mainstream blockchains and how Hathor solves these issues:
High Transaction Fees.Transactions over the Bitcoin network are extremely high. However, on Hathor, transactions are completely free. Meaning, that anyone can trade and transact without having to pay any fees.
Scalability Issues. On the Hathor network, if the transaction volume increases, the speed and security of transactions don’t become compromised at all. Moreover, Hathor’s architecture allows it to confirm and process any number of transactions per second being 1, 10, 1000, 1M, 10M…
Merged Mining. Hathor allows for merged mining with any coin that uses SHA256. For example, Bitcoin or Litecoin miners can participate in HTR mining as well. They won’t lose any profit collected from the Litecoin and Bitcoin chains.
HTR coin is Hathor network’s native cryptocurrency. Here are some important tokenomics regarding HTR coin.
|Decimal||2 digits (0.01 HTR)|
|Technology Used||Native and Unique (DAG + blockchain)|
|Circulating supply||223,921,752.00 HTR|
|Block Time||30 seconds|
Here are a few key features of the Hathor network that make it very different and unique from other platforms.
Token Atomic Swaps. This feature allows separate tokens to be reliably exchanged simultaneously on the same transactions. This creates more efficiency within the Hathor network.
Custom Tokens. According to the official Hathor website, even a 13-year child is capable of creating a token on their platform just for fun. With just a few clicks, anyone can create custom digital tokens.
Nano Contracts. Nano contracts share all the great features of smart contracts such as being decentralized and free from any third-party interference. However, unlike regular smart contracts, nano contracts use way fewer fees and computational power. Therefore, they are lightweight variants of smart contracts. Another key aspect of nano contracts is the possibility to customize. The framework will provide users with opcodes/blueprints that they can use to customize and deploy their own nano contract, even if they don’t how to code.
P2P Payments. As reiterated earlier, transactions over the Hathor network are always free. Any network user can send and receive tokens without paying fees and free from any central authority.
A majority of the Hathor network still remains under development. However, the Hathor roadmap still has a number of projects on its way. The platform continues to work on new upgrades all while making strategic partnerships to foster the growth of its platform. For instance, Hathor released a debit card in collaboration with Simplex. Additionally, an NFT project is currently building an NFT marketplace on the platform. Hathor has ambitious plans and massive potential. Its approach towards blockchain apps places it in the right position to become the leading crypto to watch out for in the future.
If you are looking for a place you can make a Hathor swap, then Swapzone is the best bet for you. With Swapzone, you don’t need to register an account. Additionally, there are no hidden fees or charges on every transaction. If you are unaware of how to swap HTR using Bitcoins, here is a step-by-step tutorial on how to do it:
An exchange rate is the rate at which one cryptocurrency can be exchanged for another through a certain crypto exchange provider. Cryptocurrency exchange rates on Swapzone reflect current prices of crypto assets and are updated every 30 seconds for you to keep track of any market changes and fluctuations to profit when buying the dip or going with the best exchange rate and the lowest exchange fees. All cryptocurrency exchange providers have their own rates, which depends on supply and demand, mining rewards, costs and so on. See what else might affect the rate in our article on prices.
There are two types of exchange rates aggregated by Swapzone – fixed rates and floating rates. To receive the exact amount of crypto that is displayed at the beginning of the exchange and shield yourself against the market's volatility, opt for fixed-rate offers. If you're ready to take a risk and receive less or more than the sum displayed, go with floating-rate offers but bear in mind that floating rates may drastically change any second. You can refresh your memory on how to get the best exchange rate here.
Crypto transaction fees may vary depending on the network (Ethereum transaction fees tend to spike during the congestion on the network), your chosen cryptocurrency, an instant exchange provider as well as its transaction processing speed and internal policy. These fees may be relatively low but it’s crucial to know they may be imposed in the first place.
If you want to exchange cryptocurrency with the lowest fees, beware of the offers with a grey-colored “Transaction fees are not included” label displayed under the exchange rate. To avoid having to pay an unexpected amount of fees during the exchange, opt for those that do not have that label. Read our articles to learn more about how to exchange cryptocurrency with the lowest fees and find out which assets have the lowest transaction fees.
Transactions usually take from 5 to 30 minutes to be processed, especially if you choose currencies with speedy networks. However, there are several factors that may affect and slow down the exchange process, i.e. transaction volume, blockchain capacity, network updates, cryptocurrency itself and the capacity or chosen exchange platforms.
The processing may take longer due to the large transaction volume, congestion of the network, blockchain overload and market overload, technical issues or system failures, lack of liquidity or network maintenance.
The transaction may be also stuck if you forget to add a required Extra ID, mistake networks or use the wrong wallet for a chosen crypto asset. If you worry that the exchange processing is taking too long, please, contact us at [email protected] or via our live chat on the landing page.
To exchange, buy, sell or trade cryptocurrency and store your crypto keys safely and securely, you need a crypto wallet. Choosing the best cryptocurrency wallet is a question of preference and need. To learn more, read our guide on how to choose the best cryptocurrency wallet for your needs.
There are several types of wallets for different crypto assets and tasks. Software wallets, or hot storage wallets, are connected to the Internet and come in many forms: Web, Desktop, Mobile or Browser Extensions. If you want to build a large crypto portfolio, you might want to look at multi currency wallets like Exodus, MetaMask, TrustWallet, Atomic or Guarda. If a coin or a token of your choice isn’t available there, you can always opt for a single-currency wallet that is usually designed by the project that launched the asset.
If you take safety and security matters seriously, go for hardware wallets, or cold storage wallets, like Ledger or Trezor, or even paper wallets. We strongly recommend you to do your research before creating a wallet: read the reviews to see what the community thinks, learn about the fees a particular wallet imposes for performing transactions, check out supported currencies and networks and see its security policy.
There are loads of different crypto exchange services, with new platforms emerging every month. Exchange providers differ by supported currencies, liquidity providers, fees, customer support, user interface, level of privacy and anonymity and customer support, which makes it hard for beginners to understand which one to choose. To learn more about what these exchanges offer and how you can assess them, read our guide on how to choose the best exchange platform.
To navigate them through the field full of services, we conduct research and thorough analysis of the market & list both prominent and promising exchange providers, keeping in touch with their teams 24/7. We give you all the necessary data on the offers they provide as well as their brief history, KYC/AML policies, reliability and advantages, while also indicating their downsides so that you don’t have to do that yourself.
Swapzone is an instant non-custodial cryptocurrency exchange aggregator that helps users make an informed choice when exchanging crypto assets. To make this possible, we gather the information on the exchange providers, select the parameters for comparison, aggregate and sort available deals & give an option to make a swap through providers' APIs in the same interface with a common user flow for every exchange. Still have doubts? Here's 9 reasons why you should use Swapzone to exchange crypto.
Learn how to exchange cryptocurrency with the lowest fees or zero fees as well as how to find the best crypto exchange rates and choose the safest cryptocurrency exchange provider.