Harmony (ONE)—Your Complete 2024-Tokize Guide

€ 0.0251

0.3231
Last updated 15:04:05 UTC
Market Cap
€ 348,897,151.83
Fully Diluted Market Cap
€ 348,897,151.83
Volume
€ 13,933,142.02
Circulating Supply
13.90B ONE

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Last updated at 15:15:05 UTC

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Have you found the cryptocurrency that revolutionized blockchain and reached 10-billion users? Harmony (ONE) is pushing the boundaries and setting a new standard around the globe.

Whether you’re a cryptocurrency expert or searching for new technologies, this guide will enlighten you on Harmony’s future and its investment potential. Here, we dive into the “ONE” token and unveil the first sharding blockchain to make an impact big enough to invest in. 

After reading this, you’ll finally get insights into whether or not Harmony is a good investment.

What Is the Harmony Blockchain?

Learning the EPoS of Harmony Blockchain
Harmony (ONE) Value and Market Prediction

Harmony is an innovative blockchain designed for decentralized applications (dApps). The speed of its transactions and strength of its security thrive without compromising autonomy. Harmony is also generous to its validators and relies on them to manage its system’s governance. Harmony’s crypto is ONE, which supports a community-centric philosophy.

Harmony staking now repurposes the Ethereum ecosystem, removing its bottlenecks through sharding and through effective proof-of-stake (EPoS). Though centralized proof-of-stake (PoS) is also reliable in supporting ultra-fast transactions and interoperability, EPoS is even better

Harmony’s future innovation makes it easy to build then scale high-performance dApps. The innovative stride taken by the Harmony blockchain is called sharding. This gives the interface a secure layer of protection to meet the needs of decentralized finance (DeFi) and the transfer of non-fungible tokens (NFTs). This could answer if Harmony is a good investment.

In similar processing as Ethereum, Harmony uses Solidity and Ether.js languages. These make it easy to develop apps and to scale the work of coders. Users, however, benefit from two-second transactions and can seamlessly trade Harmony on the Ethereum blockchain.

Like Ethereum, Harmony is a platform from which to build, manage and scale interoperable apps on. It’s hosted on Ethereum and has become a solution to the congestion issues of ether. Harmony’s crypto is at the heart of its vision and is used to power its open community.

The ONE token is also flexible, being used to pay for services, Harmony staking and to manage the voting rights of the validators who govern this network.

Binance

  • Low fees
  • One of the largest crypto exchanges
  • Fee discount for using native BNB

Harmony’s Full Story

Harmony began with its founder, Dr. Stephen Tse who, after working as a lead for Google Maps, became an experienced cryptographer. He developed his own blockchain language, Min, to prove it. After raising more than $20 million, Dr. Tse launched the Harmony Protocol in 2018.


A year later, in May of 2019, Binance was the first exchange to host Harmony’s ONE token. The team of developers alongside Stephen Tse scaled the Harmony-blockchain price. Seven of his developers and cryptographers included programmers from Microsoft, Google, Amazon and Apple. From this team, Nick White became a co-founder who led a team of 12-total members.

Sharding Harmony's Blockchain Network

Why was Harmony Created?

Harmony and its ONE token were made to address the obstacles faced by Ethereum, which cover scalability, speed and cost. The goal of the project was to make a decentralized interface with fast, secure and low-transaction fees. This makes Harmony’s price ideal for developers, which has also convinced many that Harmony is a good investment for 2024 portfolios. Following are the benefits offered and objectives achieved by this ecosystem: 

Troubleshooting Ethereum’s congestion

Ethereum, the first blockchain to perform smart contracts, has recently become congested. Its current traffic limits its ability to run high-throughput apps, which includes games and crypto exchanges. Past attempts to solve this problem had only resulted in more obstacles. The Harmony blockchain addresses these challenges by implementing blockchain sharding.

Building trust and interoperability

Harmony staking establishes incredible trust via its layer-2 interoperability atop the Ethereum blockchain. The platform’s sharded blockchain leverages a unique proof-of-stake consensus method. Its sharded EPoS enables ultra-fast, energy-efficient transactions for the future.

Creating fast and affordable transactions

With a two-second transaction finality and 100-times lower fees, Harmony has a reputation for ultra-fast and affordable-asset trading. Harmony Bridges offer this solution in cross-chain transactions. Its bridges promote the interoperability and growth of its blockchain ecosystem.

How Does Harmony Work?

The core of Harmony’s future operates on the philosophy of sharding and effective stake-of-proof governance. These facets overcome the emerging challenges associated with congested blockchains. As blockchains grow, developers have encountered unique obstacles with payload. The biggest issues are the delays within blockchains that have heavy workloads.

To reduce the load that major blockchains encounter, Harmony introduces cross-chain interoperability and protects its system with a distributed random generation (DRG). Here’s a better look at what and how: 

The Harmony protocol

Unlike proof-of-work (PoW) used by Bitcoin, Harmony’s forecast relies on proof-of-stake to elect its validators, which makes it faster and safer. Part of this protocol relies on a consensus protocol called the Fast Byzantine Fault Tolerance (FBFT). This is based on the Practical Byzantine Fault Tolerance (PBFT) and ensures that validators all have equal input. 

The sharding philosophy

Sharding is a mechanism whereby Harmony divides its blockchain into parts, which are each called shards, and there are four of them. Each shard holds 250 validators. Sharding increases transaction speed and scalability. The goal of Harmony is to achieve a standard of 2,000 transactions per second (TPS) with a future milestone of, ultimately, 1-million TPS.

To date, Harmony’s forecast was developed on a sharding blockchain that’s fully scalable, secure and energy efficient. The Harmony team innovated its protocol and network to support the emerging decentralized industry, which promises a radically equitable economy.

The cross-chain interoperability

Cross-chain interoperability is written into Harmony’s architecture. This is what allows bridges to connect different PoW and PoS chains together. With it, a variety of digital assets on Ethereum and even Binance Smart Chain can be transacted with by using Harmony Bridges.

The distributed random generation

To assign, in a safe and fair manner, nodes to shards, Harmony uses a distributed random generation (DRG). This generates random, unpredictable numbers that are unbiased yet verifiable. Harmony specifically uses Variable Random Function (VRF) and Verifiable Delay Function (VDF) to decentralize its network and create autonomy in its cryptography.

Where can You buy Harmony’s ONE Crypto?

Access any of the top-regulated exchanges to buy the ONE cryptocurrency with USD. The three exchanges we recommend most include Binance, Kucoin and Bitfinex. Out of these, Kucoin stands out for its ease of use, for you won’t need to verify an account to start buying its crypto.

1. Kucoin

Kucoin a Fast Way to Find ONE Crypto

Kucoin is a Hong Kong-based exchange that was launched in 2017. It’s simple but offers a variety of cryptocurrencies. Kucoin, by far, has the easiest registration process we could find.

For forecasts and to buy Harmony ONE crypto on Kucoin, begin with the following process:

  • Register with an email address and a secure password
  • Deposit funds in the form of crypto or fiat currency
  • Search for Harmony/ONE in USD using Kucoin’s search function
  • Select the right pair—e.g. ONE/BTC or ONE/ETH—and enter the amount you’ll buy
  • Confirm your transaction for it to finalize

KuCoin

  • Wide range of cryptos
  • Advanced Trading Options
  • Competitive fees

2. Binance

Buying ONE Crypto Via Binance

Binance, likely the most reputable cryptocurrency exchange in the world, is likewise recommended but DOES require account verification. This calls for you to submit bank information along with a verified mailing address, phone number and your given name. Since its launch, Binance has evolved to provide users with website AND mobile-app trading.

Keep in mind that Binance was the first exchange to host the Harmony cryptocurrency price. You’ll find all of the tools you need to get started and track or forecast Harmony in real time.

Binance

  • Low fees
  • One of the largest crypto exchanges
  • Fee discount for using native BNB

3. Bitfinex

Converting Fiat to Crypto Via Bitfinex

Bitfinex, which has also become a reputable cryptocurrency exchange, was founded in 2012. It offers a wide range of cryptocurrencies, and Harmony ONE is among them. Being regulated and secure means Bitfinex requires an identity verification before you can buy crypto from it.

This exchange also has good liquidity, which means you can buy or sell crypto on demand.

Bitfinex

  • Comprehensive platform
  • Enhanced security
  • Suitable for experienced traders

Harmony Fear and Greed Index

Updated: 11 April 2024

Now: 52 Greed

Now: 52 Greed

Yesterday: 54 Greed

Last Week: 58 Greed

Is the Harmony Blockchain a Good Investment In 2024?

Harmony’s USD forecast is as relevant as that of Ethereum or bitcoin. Though developers can still redesign its ecosystem, Harmony has a stronghold on sharding and interoperability. Here are some key points to consider if you’re truly looking into buying a few ONE tokens:

How to know if Harmony is a good investment

  • Harmony staking scales the art of open consensus for over 10-billion people
  • The ONE coin covers network fees, staking and governance, which create demand for the token
  • Its development into a two-way bridge between it and Ethereum shows steady progress
  • The blockchain supports low latency, low fees and fast-transaction finality
  • Harmony now promotes artists, allowing them to fairly earn crypto from their artwork
  • The volatility of the crypto market reflects in the future and current price of ONE
  • The slow rate of Harmony’s public adoption influences the price of its ONE token
  • No cryptocurrency platform or network is completely secure; Harmony is no exception

Other factors in your investment profile

Let’s start with a reminder that past performance does not guarantee future results. Harmony staking is promising and its evolving ecosystem is relevant in today’s society. However, investing in cryptocurrencies is risky, and uncertainties do exist. If you’re considering an investment in Harmony’s crypto for 2024, here are some tips to keep in mind:

  • Analyze market factors like sentiment, price action and economic news
  • Consider its adoption and the world’s future demand for sharding or interoperability
  • Invest only what you’re capable of risking or able to comfortably lose

A Final Take On Harmony

Harmony is an innovative blockchain, and it addresses some critical issues in the economy of blockchain, which are important and relevant today. Through its sharding and EPoS consensus, Harmony provides a platform that’s scalable, decentralized and ideal for global developers.

The ONE token, at the heart of this ecosystem, has meaningful utility as well. It pays for network fees, is used in staking and works as a mediator in governing the blockchain. This Harmony model is in the position to remain adoptive within other blockchains across the globe.

Our opinion of Harmony and its ONE crypto is generally positive. Only time can tell how ambitious the project remains and how well received it will be. Be sure to closely monitor its blockchain developments, and act accordingly. Do your research. Consider your tolerance to risk before securing your investment fund, and set objectives to support why you’re investing.

Questions you might have about Harmony

What makes Harmony unique from other blockchains?

Harmony stands out for its sharding technology, which provides secure consensus, enabling superior scalability, security and decentralization.

How is the ONE token used for Harmony’s price forecasts?

The ONE token pays network fees, powers staking and governs the Harmony architecture.

Does Harmony compete within the blockchain industry?

Yes, but Harmony does have competition in solving the dilemma of blockchain congestion. What makes it a current leader in sharding and EPoS is its early adoption of these technologies.

Which risks are associated with Harmony’s ONE token?

YOU have to decide if Harmony is a good investment or not. All cryptocurrencies are sold in a volatile market, and Harmony does have competition with other blockchain projects. It’s ALWAYS essential to assess your tolerance to risk before investing.