What is Harmony?
Harmony is a blockchain-based platform aimed to provide an infinitely scalable cryptocurrency that doesn’t compromise security or decentralization. By doing so, it combines data sharing and scale decentralization with the marketplace for fungible and nonfungible assets.
Additionally, Harmony also offers block generation time that takes no more than a second, facilitating near-instant transactions with the ability to process higher transition throughputs than Ethereum or similar networks.
Therefore, the project itself offers these unique features:
- Harmony is designed to be a fully scalable platform.
- The project offers efficient and fast with Proof-of-Stake consensus.
- Random sharding and cross-shard transactions improve security and flexibility of Harmony.
How does Harmony work?
The technology and utility of Harmony are considered to be the most valuable elements of the network.
Harmony achieves scalability and increases the speed of transactions and block generation through the use of random state sharding. Random state sharding allows the network to split the database into smaller partitions called shards to reduce latency. Sharding thus enables fast and near-instant transactions, while preventing network congestion.
The deep sharing solution from Harmony is advanced and unique compared to other blockchains. The main purpose of sharding technology is to:
- Involving on both transactions and consensus layers.
- Improving the parallel processing capacity through the platform.
- Eliminating the requirement to store the whole blockchain nodes and allowing smaller devices to become nodes on the networks.
In addition, a sharded network is harder to take over due to its randomization mechanism. Harmony uses cryptographic functions and verifiable delay functions to give random numbers to shards and help safeguard against attacks on the network.
These elements of Harmony definitely improve the utility and technical capacity of the project. Thus, Harmony will become more valuable and more accessible over time.
What is ONE Token?
ONE is the native token of the Harmony network. It can be utilized for these use cases:
- ONE can be used to pay for various services and operations on the network, including paying for storage.
- ONE holder can also participate in network governance as holding ONE tokens grant them voting rights.
- Harmony offers staking mechanism on its platform. There will be a minimum of 10,000 ONE tokens required to be a validator.
Detailed information about ONE Token
ONE Token Metrics
- Token Name: Harmony
- Ticker: ONE
- Blockchain: BSC
- Token Standard: BEP-20
- Contract: 0x03fF0ff224f904be3118461335064bB48Df47938
- Token Type: Utility.
- Total Supply: 13,276,763,023
- Circulating Supply: 11,400,000,000
ONE Token Allocation
ONE Token is distributed as follows:
ONE Token Sale & Release Schedule
1.58 billion ONE tokens were sold on Binance Launchpad with a total of $5M raised. The token price was $0.003.
As of today price at $0.22, ONE has been increased 7333% since its IDO.
The token release timeline will be followed by this chart:
How to buy ONE token
You can buy ONE on listed exchanges such as:
- DEX: Pancakeswap, Viperswap, DODO,…
- CEX: Binance, Kucoin, Crypto.com,…
Alternatively, you can use Coin98 Exchange to buy ONE token via the swap button at the end of the article.
How to get ONE token
Users can stake ONE token via Harmony mainnet. The expected return ranges from 9% to 20%.
How to store ONE Token
You can store ONE on Coin98 Wallet with these steps:
Step 1: Open Coin98 Wallet & click Receive on the home screen.
Step 2: Search ONE Token.
Step 3: Click on the correct result, copy the wallet address and send ONE to the correct address.
Roadmaps and Updates
In 2021, Harmony focused on delivering a strong foundation for their network and ecosystem with Adoption, Interoperability, and decentralization.
Details about major milestones of Harmony can be found as follows:
Team, Investors, and Partners
Collectively, the team at Harmony has a strong background in engineering and academia coming from companies like Google, Amazon, Apple, and Microsoft.
Stephen Tse as the founder of the project was a researcher at Microsoft and senior engineer at Google and Apple.
Partners & Partners
Harmony has been around for over 2 years, therefore, they have earned many strategic partnerships to ensure the project matures in the right direction.
Major partnerships can be mentioned such as:
- Animoca x Harmony.
- Chainlink x Harmony.
- Binance x Harmony.
- Matic x Harmony.
- Shyft x Harmony.
Is ONE a good investment?
This article has provided some of the main ideas related to the ONE token and its implications. Still, it is important to note that there are a few key points that investors should take into account before making investment decisions:
The Harmony ecosystem has grown tremendously over the past 2 years. The current ecosystem maps of the project are fulfilled with important projects and dApps. Compared to other blockchains such as Ethereum or Solana, the ecosystem of Harmony might not be completed yet as it is still in its early stages. However, this will leave room for other projects to deploy on Harmony and investment opportunities for early investors.
The Harmony team claims that the blockchain can handle up to 10 million transactions per second, making it one of the fastest blockchains currently. In the future where the crypto market is adopted by billions of people, Harmony will become the best solution due to its infrastructure and high capacity.
The foundation of Harmony including team, backers and investors is impressive. Their experience in technology and finance will definitely accelerate the growth of Harmony.
The Harmony foundation recently allocated a $300M fund to support the network’s development for the next four years. The massive bounty will accelerate the growth of Harmony tremendously and attract more developers to build more applications on the Network. $50 million is going to Decentralized Autonomous Organizations (DAOs) single-handedly supporting smaller projects.
You can find similar projects to Harmony from very detailed Top-Tier Blockchain Platform Comparison according to Coin98 Analytics.
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