In the context of greetings, 'Hola' is more formal, while 'Chao' is informal due to the level of familiarity and casualness they convey.
Hola and Chao are examples of greetings. In this context, Hola is a saludo, while Chao is not. The change in tone from formal to informal is based on the familiarity and casualness conveyed by the greetings.
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