Harmony is a swift and open blockchain. The blockchain platform was created to make the development and deployment of decentralized applications (DApps) easier. By putting the emphasis on random state sharding, which allows for the creation of blocks in seconds, the network is keen on reinventing the way decentralized applications operate.
It professes to remedy the blockchain challenges and issues of decentralization, scalability, and security, as do most post-Ethereum networks. The solution proposed by Harmony is sharding, as well as its Effective Proof of Stake consensus mechanism.
Another important feature of the Harmony platform is its Cross-Chain Finance model. Harmony appeals to the growing popularity of cross-chain and multi-chain functionalities.
How does sharding work in Harmony?
Harmony’s blockchain is categorized into four networks known as “shards,” which run concurrently but instead are validated by completely different stakeholders, a type of blockchain labor division that increases efficiency and reduces delays. Harmony refers to this strategy as “Effective Proof of Stake.”
Harmony token holders deposit their native ONE token and are allotted to one of four shards. Validators must keep a complete copy of the transactions of a given shard but not the entire network, as is common. They are rewarded with newly minted coins and a fraction of the transaction fees. To keep them from becoming too relaxed, they are shuffled among shards after a stage known as an “Epoch.” Also, every shard generally has 250 validator spots, but scaling may add more.
Harmony’s idea is to allocate stakeholders at random to each shard in order to avoid concerted network takeover attempts. Harmony also dissuades token hoarding by picking those who stake more than a certain amount and encouraging those who stake less. The supposed end results? Lower fees and faster transactions without jeopardizing security.
What exactly is Effective Proof of Stake?
The usual Proof of Stake (PoS) validator and delegator model compared to Effective Proof of Stake (EPoS) works in similar ways. Validators deposit ONE, Harmony ‘s token, in order to run a node and potentially process transactions via an electoral system. Delegators deposit their ONE in exchange for a share of future block rewards and transaction costs. The validator generates blocks and offers its rewards to delegators after being chosen and allotted a shard.
EPoS distinguishes itself through its reward distribution. Many PoS systems concentrate rewards and control behind a limited number of validators. The greater your stake, the greater your earnings and validation. EPoS, on the other hand, lessens rewards and penalizes validators who stake more in a single node.
Harmony’s Native Token
The Harmony Network’s native token is known as ONE.
ONE can perform all of the following tasks:
- Paying transaction fees on the Harmony network
- staking in exchange for block rewards as a delegator or validator.
- participating in the open governance mechanism of Harmony.
Harmony offers an annual reward of 441 million ONE to validators. Transaction fees are burned with the goal of reaching a net-zero state, offsetting the ONE provided for block rewards.
Harmony ONE: History and Overview
The Harmony network, which officially launched in 2019, includes fully decentralized cross-chain bridges as well as four shards that process transactions concurrently. Effective Proof of Stake encourages validator decentralization and sharding distributes network load between many validators, delegators, and users.
Harmony’s founder and CEO is Stephen Tse. He holds a Ph.D. in cryptographic protocols and type theory from the University of Pennsylvania. He created Harmony in 2017. Harmony’s founding team consists of twelve people, seven of whom are former employees of big tech giants, i.e. Google, Microsoft, Apple, etc.
Harmony started operating as a company in 2018, prior to the IEO. But who is the man behind Harmony (ONE)? Multiple investors were interested in its fundraising effort, which raised $18 million in April 2019, together with Silicon Valley’s Consensus Capital and Hong Kong’s Lemniscap VC, among others. Investors purchased nearly $2.8 billion in ONE tokens from the company, with $12.6 billion reserved for pre-mining.
At the same time, Harmony provides stakeholders with access to an ecosystem that will allow the company to be adopted across a wide range of businesses.
Harmony ONE overview
| Harmony Price | $0.0250 |
| Price Change (24hrs) | -$0.001352 (down 4.09%) |
| 24hrs Low / 24hrs High | $0.0295 / $0.03372 |
| Trading Volume 24hrs | $37,333,516.13 (up by43.36%) |
| Volume / Market Cap | 0.09646 |
| Market Dominance | 0.03% |
| Market Rank | #89 |
| Harmony Market Cap | $387,016,274.09 (down by 4.05%) |
| Fully Diluted Market Cap | $428,582,067.70 (down by 4.06%) |
| All Time High (Oct 26, 2021) | $0.3798 (91.64%) |
| All Time Low (Mar 13, 2020) | $0.001257 2428.04% |
| Harmony ROI | 900.63% |
| Harmony Circulating Supply | 12,181,846,032 ONE |
| Total Supply | 13,490,184,032 ONE |
| Max Supply | No Data |
Harmony One Price Forecast
Harmony’s native token ONE, according to CoinMarketCap, has been among the most promising and fastest-growing cryptocurrencies, with a ROI of 900.63 percent from its launch till date.
As a selling frenzy sweeps through the cryptocurrency market, Harmony, which has been on the decline since April, has dropped 91 percent to $0.03174 since it’s all time on October 26, 2021.
It lost 40% of its value in April, but another 20% has been lost so far in May.
Can the ONE token make a comeback? What is a reasonable price to aim for? Is it wise to invest in Harmony ONE?
Fundamentals
With a 24-hour trading volume of $37,960,843 USD, the current Harmony price is $0.0250 USD. Harmony has lost 4.09 percent in the last 24 hrs. With a live market cap of $383,102,911 USD, it is ranked #89 on CoinMarketCap.
There are 12,181,974,734 ONE coins in circulation, with no available data for their maximum supply.
In 2022, the ONE token’s price movement was actually bullish. On January 14, it almost reached an all-time high of $0.3798, which was also the 7-day and 30-day high.
Despite its presence in some of the most well-known blockchain industries, such as DeFi and NFTs, the Harmony coin faces severe competition from other dApp platforms like Ethereum, Solana, and Cardona.
Wallet Investor, Digital Coin, and Price Prediction are among the algorithmic prediction systems that have predicted the coin’s prognosis has potential for growth.
Before putting your money into Harmony ONE, you should choose how much risk you are willing to take. And never put money into an investment that you can’t afford to lose.
Technical
We may deduce from trading chart signals for ONE/USDT that the price of ONE is stabilizing following a breakout around the center of the channel, and that the price of ONE is likely to have a bearish run. However, the price may turn bullish in the long run, as top cryptocurrencies such as Bitcoin and Ethereum have already begun to turn bearish after a recent bullish run. Will the ONE blockchain’s recent upgrades, development, and modifications, however, help the cryptocurrency’s price rise?
Trading charts reveal that ONE’s performance hasn’t been stellar in recent days. In addition, the ONE price is in a positive trend. If the current trend continues, one might run with the bulls, breaking above its $0.193 resistance level in 2022.
If investors turn against cryptocurrencies, the bears may seize control and force one out of its rise. In layman’s words, the price of ONE might drop to about $0.009, indicating a bearish indication.
Harmony One Price Prediction
Harmony One Price Prediction 2022
ONE will reach $0.0434 by the end of 2022 if the trend continues. Furthermore, growth is expected to be rapid toward the end of 2022, reaching $0.0533. The growth will then decrease, but no significant drops are anticipated. With impending partnerships and innovations, hitting $0.3 may seem to be an exaggeration, but it may be possible.
Harmony One Price Prediction 2023
In 2023, we can expect a slew of collaborations and mergers. Furthermore, this may increase the price of ONE in the crypto market, making it the ideal investment because the price may rise to about $0.072.
Harmony One Price Prediction 2025
During the year 2025, Harmony’s price is expected to fluctuate between a high of $0.18 and a low of $0.14.
Harmony One Price Prediction 2030
Harmony One price forecast for 2030 is $0.97. Harmony is predicted to hit the $1 milestone by 2030. The blockchain’s development and team actions will determine whether it breaks or grows further.
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Frequently Asked Questions
What is the current price of Harmony ONE?
At the time of writing, the current price of Harmony ONE is $0.0250.
What will Harmony ONE be worth by the end of 2022?
By the end of 2022, the value of Harmony ONE is expected to rise to reach a maximum price of $0.0533.
What will Harmony ONE be worth by 2025?
Harmony ONE will cross the $0.1 level and trade at an average of $0.14 and $0.18 as new innovations and innovation in the crypto market have a positive impact on the price.
Where can I buy Harmony ONE?
Harmony (ONE) coins can be bought on most major exchanges, including:
- Binance
- COM
- Huobi Global
- KuCoin