Harmony (ONE) in the News

About Harmony

Harmony (ONE) is the first proof-of-stake (PoS) network to implement state sharding. The network is partitioned into shards and each shard is capable of handling 1000 transactions-per-second. Each shard is synchronized and is part of a great whole. If needed, the network can scale to as many shards as necessary. ONE tokens act as ‘gas’ on the network and are the native token of the Harmony blockchain.

Harmony has invented its own consensus mechanism to validate transactions called Effective Proof-of-Stake (EPoS). This is meant to prevent the ‘rich from getting richer’ problem. Harmony’s staking dashboard operates on a free market system, but validators must hold ONE relative to the media stake. Farther away one is from the media stake, the less the rewards. Harmony also boasts its own token called HRC20 tokens.

On June 28, 2019 Harmony created the first block on its network and its blockchain began. Open staking officially began on May 16, 2020 and the network is now fully operational. Harmony hopes to make a splash in a few key areas: gaming, decentralized finance, data sharing, and other sectors. Backed by major entities, the team is solvent for years with the ability to build on top of its innovative blockchain network.

If successful, Harmony will be the first blockchain network to solve the blockchain trilemma: it is secure, decentralized, and scalable. Ethereum’s 2.0 upgrade employs many of the same features Harmony currently utilizes, including relying on a beacon chain for its deep sharding. Because of its first mover advantage, Harmony is positioned to dominate key sectors of the emerging blockchain industry.

ONE is currently trading on many top exchanges including Binance.