Question 1

How does HOT Protocol work?

Accepted Answer

HOT Protocol operates as a decentralized network of validators for MPC (Multi-Party Computation) wallets, enabling secure and flexible cryptocurrency management. It splits private keys into multiple parts, storing them across independent validators, which enhances security and allows for features like account recovery and two-factor authentication. HOT Protocol integrates with various blockchains, including NEAR, Ethereum, Solana, and others, facilitating cross-chain transactions and bridging.

Question 2

Is HOT Protocol a secure platform?

Accepted Answer

HOT Protocol employs advanced security measures by distributing private keys across a network of independent validators, reducing the risk of single-point failures. The protocol allows users to set up two-factor authentication and even change their seed phrase, adding layers of security to their accounts. Additionally, HOT Protocol's open-source nature and the involvement of trusted validators like EverStake, NEAR Protocol, and Aurora contribute to its security and transparency.

Question 3

How to use HOT Protocol?

Accepted Answer

Users can access HOT Protocol through compatible crypto wallets, such as HERE Wallet or HOT CLI. The protocol supports creating HOT Accounts with features like replaceable seed phrases and customizable two-factor authentication. Users can perform cross-chain transactions, pay gas fees in HOT tokens, and interact with decentralized applications (dApps) across various supported blockchains.

Question 4

What services does HOT Protocol offer?

Accepted Answer

HOT Protocol offers a range of services including MPC wallets with enhanced security features, cross-chain asset transfers, and bridging capabilities. It provides the ability to create human-readable addresses, integrate with Telegram for fast transactions, and use HOT tokens for multi-chain gas payments. The protocol also offers developer tools like APIs and SDKs for seamless integration into other projects and applications.

HOT Protocol

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FAQ

How does HOT Protocol work?

Is HOT Protocol a secure platform?

How to use HOT Protocol?

What services does HOT Protocol offer?