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What is Harmony (ONE)?

Harmony basic info

Name:Harmony
Ticker:
Introduction:

What Is Harmony?

Harmony is a blockchain-based platform that strives to solve the scalability and decentralization without compromising either aspect. Launched in May 2019, Harmony has garnered significant attention and investment, including backing from Silicon Valley's Consensus Capital and Hong Kong's Lemniscap VC. The platform was conceived with the motto "decentralization at scale," emphasizing seamless data sharing and fostering a fertile ground for both fungible token and non-fungible asset marketplaces.

Founded by Stephen Tse in 2018, Harmony made its foray into the market with a robust infrastructure that promises high throughput coupled with low latency and costs. This potent combination is expected to position Harmony at the forefront of establishing the foundation for future decentralized trustless economies. Compatible with the Ethereum network, Harmony boasts a transaction speed of 2,000 transactions per second, a stark contrast to Ethereum's average transaction time of ten minutes. Moreover, the platform offers a cross-chain feature called Horizon, facilitating smooth transitions between ONE and the Ethereum network, thereby leveraging the security of the layer-1 network and the efficiency of the layer-2 network.

Resources

Whitepaper: https://harmony.one/whitepaper.pdf

Official Website: https://www.harmony.one/

How Does Harmony Work?

At the core of Harmony's operational prowess lies its unique approach to blockchain technology, utilizing random state sharding to enhance scalability and expedite transaction and block generation. This technique divides the database into smaller segments, known as shards, effectively reducing latency and preventing network congestion. The adaptive proof-of-stake (PoS) consensus mechanism, coupled with the Fast Byzantine Fault Tolerance protocol (FBFT), facilitates security, scalability, and swift verification processes.

Harmony operates on an open and fast blockchain, featuring a mainnet that runs on the Ethereum network, offering a transaction finality of 2 seconds and fees that are 1000 times lower than Ethereum. This collaborative approach with Ethereum, rather than competing against it, makes it easier for developers to create decentralized applications (DApps) on the network. Harmony's architecture allows it to process transactions in parallel, minimizing communication costs and enabling over 250 validators to reach a consensus in less than two seconds.

What Is ONE Token?

The ONE token serves as a stake in the Harmony consensus model, enabling holders to earn block rewards and facilitating the smooth functioning of the system. This community token embodies Harmony's vision of fostering open consensus processes for billions of individuals globally. Utilized for a plethora of platform activities and amenities, including voting, transaction fees, gas fees, staking, and earning rewards, the ONE token had transitioned from a dynamic inflation schedule to a fixed annual rate in March 2020.

Tthe ONE token confers governance rights on holders, empowering them to influence decisions pertaining to the network's future. This token can be staked, earned, and mined, offering a lucrative avenue for investors to reap rewards while contributing to the network's stability and growth.

Harmony's Impact on Finance

Harmony stands as a vanguard in the financial sector, addressing core blockchain concerns with energy-efficient solutions, cross-chain capabilities, and significantly lower gas fees. Its potential to revolutionize cross-border payments and facilitate convenient cryptocurrency exchanges cannot be understated. Moreover, Harmony's network showcases immense potential in the non-fungible tokens (NFTs) sector, offering a cost-effective platform for developers keen on minting NFTs.

By maintaining decentralization and security even as it scales, Harmony presents a promising future, with aspirations to process up to 10 million transactions per second in the long run, rivaling some of the world's largest payment networks. Its commitment to fostering a decentralized platform without compromising on security or scalability makes it a formidable player in the blockchain arena, poised to redefine the contours of the financial sector.

What Determines Harmony's Price?

In the dynamic world of digital assets, Harmony token (ONE) price is influenced by a myriad of factors that resonate well with both cryptocurrency enthusiasts and experts alike. As we venture into 2023 and beyond, the cryptocurrency market is expected to witness unprecedented trends and developments. Harmony, being a notable player in the blockchain sector, has its token price determined by various elements including market demand, cryptocurrency news, and the broader trends in the cryptocurrency market. Investors keen on adding Harmony to their crypto portfolio management strategies often rely on comprehensive cryptocurrency analysis and cryptocurrency charts to gauge the potential trajectory of Harmony's price. Moreover, the sentiment in the crypto community, insights from cryptocurrency influencers, and discussions at cryptocurrency events play a pivotal role in shaping the perception and, consequently, the value of Harmony in the market.

Cryptocurrency price prediction is an art that combines data analysis with an understanding of the volatile nature of the crypto market. Harmony's price is no exception to the influence of cryptocurrency market volatility. Investors and cryptocurrency enthusiasts keen on making the best crypto investment for 2023 are closely monitoring Harmony's developments, with many turning to cryptocurrency trading strategies honed by cryptocurrency experts to navigate the fluctuating market. Furthermore, regulatory landscapes, encompassing cryptocurrency regulation and cryptocurrency tax policies, can significantly impact ONE token price. As cryptocurrency adoption continues to surge, Harmony stands as a promising contender, with many pondering if it is a good investment in the burgeoning market.

As we delve deeper into the nuances of Harmony token (ONE) price determination, it is imperative to consider the potential risks involved. Cryptocurrency security remains a paramount concern, with investors vigilant about cryptocurrency risks, including potential cryptocurrency scams. As the Harmony network continues to evolve, offering promising prospects for cryptocurrency for beginners and seasoned investors alike, it is vital to approach investment with a well-rounded understanding of the market dynamics. By staying abreast of the latest cryptocurrency news and engaging with the vibrant crypto community, investors can make informed decisions, potentially reaping substantial rewards in the Harmony ecosystem.

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Current price:
All-time high:$0.3798
All-time low:$0.001257

ONE supply and tokenomics

Circulating supply:14,326,931,000 ONE
Total supply:14,475,881,458.26 ONE
Max supply:0 ONE
Market cap:$388.24M
Fully diluted market cap:$392.28M
Token allocation:
Protocol Development
26.40%
Seed Sale
22.40%
Ecosystem Development
21.80%
Team
16.90%
Public Sale
12.50%
Tokenomics:

Uniqueness

Focusing on processing speed and validation, the Harmony mainnet aims to revolutionize block creation. By introducing the sharding process, the company reduced node validation times significantly.

To ensure the protection of nodes and secure the validation process, Harmony introduced the Verifiable Random Function (VRF) for unbiased and unpredictable shard membership. This means that nodes and validators are assigned and re-assigned in a randomized manner.

The project’s Harmony Grants program is an initiative that aims to support innovation and attract developers to the Harmony mainnet.

Token utility

Harmony features a native token (ONE) that network participants can use for various forms of payment and participation in the protocol, including staking, transaction fees, voting, and governance.

The Harmony token will function in the following aspects of the protocol:

  • The token is used for staking, which is necessary to participate in its Effective Proof-of-Stake (PoS) consensus and earn block rewards and transaction fees
  • The token is used to pay for transaction fees, gas, and storage fees
  • The token will eventually be used in voting for on-chain governance of the protocol

Links

Buy Harmony for $1Buy ONE now

What is the development prospect and future value of ONE?

The market value of ONE currently stands at $388.24M, and its market ranking is #183. The value of ONE is widely recognized by the market. When the bull market comes, the market value of ONE will likely continue to increase.

Moreover, if ONE can play a greater role in practical applications, such as Harmony builders fully leveraging the potential of ONE, partnering with more businesses, and increasing its user base, the long-term value of ONE will be significantly enhanced.

What will the price of ONE be in 2025?
Based on ONE's historical price performance prediction model, the price of ONE is projected to reach $0.03443 in 2025.
What will the price of ONE be in 2030?
In 2030, the ONE price is expected to change by -12.00%. By the end of 2030, the ONE price is projected to reach $0.03120, with a cumulative ROI of +24.48%.
Reminder: Just like all cryptocurrency investments, investors must closely monitor the market performance of ONE and be aware of the associated risks. The world of cryptocurrencies is full of uncertainties, so thorough research and preparation are essential.

Is ONE worth investing or holding? How to buy ONE from a crypto exchange?

If you want to buy ONE, the following information may be helpful for your investment decisions:
In the last 7 days, the price of ONE has fallen by -18.19%, leading to negative returns for most ONE investors. The market is currently pessimistic about the price trend of ONE.
It is important to note that the current price of ONE has retreated by -92.87% from its all-time high. This coin is currently considered high-risk, and while its price may rebound in the future, there is significant uncertainty.
Additionally, it's important to understand that each coin has its own optimal times for buying and selling. The optimal time to invest is dynamic: when a coin is undervalued, it's wise to adopt a buying strategy; when it becomes overvalued, you should decisively sell the coin.
To decide whether ONE is worth investing in, you need to consider various market factors such as the overall trend of the cryptocurrency market, the project's fundamentals, its current market valuation, and whether the current price is suitable for buying. If the project's fundamentals suddenly change or the price becomes excessively high, you should adjust your investment strategy and trading operations accordingly.
Your investment decisions should be based on your own risk tolerance, financial status, market analysis and research, especially the timing of your investments. Correct timing can ensure more reliable returns. Keep in mind that investing in ONE or any cryptocurrency comes with certain risks and uncertainties.
Regardless of your outlook on the development prospects and future trends of ONE, if you want to buy or sell ONE, you can consider Bitget for your trading needs. The best place to buy ONE is an exchange that offers hassle-free and secure transactions, combined with a user-friendly interface and high liquidity. Every day, millions of users choose Bitget as their trusted platform for crypto purchases.
Investing in Harmony has never been easier. Simply sign up on Bitget, complete the identity verification process, and make payments using bank transfers, debit cards, or credit cards, all while ensuring security through crypto wallets. This is a widely adopted method to buy Harmony. Here's a step-by-step guide on how to buy Harmony on Bitget.

How to get Harmony through other methods?

Using cash to buy Harmony is not the only way to obtain Harmony. If you have the time to spare, you can get Harmony for free.
Learn how to earn Harmony for free through the Learn2Earn promotion.
Earn free Harmony by inviting friends to join Bitget's Assist2Earn promotion.
Receive free Harmony airdrops by joining ongoing challenges and promotions.
All crypto airdrops and rewards can be converted to Harmony through Bitget Convert, Bitget Swap, or spot trading.

What is Harmony used for and how to use Harmony?

The use case of Harmony may expand as the crypto market and the project itself develop. Currently, you can use ONE to achieve the following goals:
Arbitrage by trading ONE: Since ONE is a frequently traded cryptocurrency, the price of ONE is always fluctuating. Earn more ONE by buying low and selling high on the exchange. Bitget spot market provides a variety of ONE trading pairs to fully meet your needs.
Earn by staking ONE: You can also generate income through financial management methods such as staking ONE or lending ONE. Bitget Earn offers a variety of financial products designed to help you earn more income from your ONE.
Send or pay ONE: If you want to give ONE to your friends, a charity, or a fundraiser, or you want to pay someone with ONE, you can quickly and easily send ONE to the recipient through their payment address.
You can also go to the official website of the Harmony project to learn more about the use cases of ONE. For example, find out if the project supports the use of within its community or ecology, or if the project allows you to purchase physical or virtual products in .

Harmony Wiki

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