Harmony Price, Stock, Value, Prediction, Mining, Market Cap will be discussed here. Read the full article to know more. Harmony (ONE) is a decentralized blockchain platform launched as part of the Binance Launchpad’s initial exchange offering (IEO) in May 2019.
What is Harmony?
It is aimed to be a bridge between scalability and decentralization initiatives. It was built with the slogan “decentralization at scale” in mind, emphasizing data sharing and the construction of fungible token and non-fungible asset exchanges. Furthermore, Harmony promises to give high throughput with two “lows”: latency and costs. They’ll place the platform at the core of efforts to create a decentralized, trustless economy when they combine.
Before the IEO, Harmony was a company. A variety of investors were there in its fundraising effort, which raised USD 18 million in April 2019. Silicon Valley’s Consensus Capital and Hong Kong’s Lemniscap VC. Investors bought almost 2.8 billion ONE tokens, and 12.6 billion were aside for pre-mining. In addition to providing investors access to a growing ecosystem, Harmony focuses on data sharing, decentralized marketplaces, supply chain monitoring, ad exchanges, credit rating systems, and gaming.
History of Harmony
Co-founded and developed by developers with extensive expertise in encryption and computer science, it provides Dapp developers with scalability and interoperability. Harmony was founded and is led by Stephen Tse, while Nick White is a co-founder and active member of the Harmony community. The startup was formed in 2017 with a 12-member development team, including Tse, seven of whom had previously worked at Microsoft, Google, Amazon, and Apple.
Important Resources
Harmony Price Today
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Engineer Stephen Tse formerly worked for Google, Microsoft, and Apple. To further the project, Harmony should implement cross-sharding and cross-chain infrastructure by the end of 2022.
How Does Harmony Work?
Through random state sharding, Harmony improves scalability and speeds up transaction and block creation. Random state sharding enables the network to divide the database into smaller segments called shards to minimize latency. Sharding allows for near-instantaneous transactions while avoiding network congestion.
The sharding technique is based on a distributed randomness generating approach that uses an adaptive Proof of Stake consensus mechanism. Security, scalability, and quick and easy verification are all possible with this combination.
Advantages of Harmony
- Harmony is another outstanding arrival into the Decentralised Applications area (DApps).
- Harmony is a project that enhances the blockchain infrastructure, and it is a large-scale initiative that assures speedier and more dependable solutions.
- Also, Harmony has a long list of collaborations with which it is in association. These may be found in a vast number of sectors.
- Harmony’s development team is well-suited to the project.
Disadvantages of Harmony
- Even though Harmony uses cutting-edge technology, there is a significant dependency on technology such as 5G, which is not yet generally accessible.
- Harmony faces tough competition from Ethereum and Zilliqa, tackling the same issues it is attempting to solve.
What makes Harmony Unique?
Harmony is a one-of-a-kind initiative in the cryptocurrency market and the Defi and Dapps sectors. It aims to offer quick validation and guarantee that blocks are formed in seconds, with near-instant finality for transactions on the ledger. By incorporating sharding, Harmony significantly decreases its time to verify transactions.
Harmony Grants is a program run by the project to recruit additional Dapp developers to the network and encourage innovation and Dapp development. Harmony is unusual in that it uses a Verifiable Random Function for security and sharding reasons, in addition to FBFT and game theory.
Features of Harmony
Addresses the most pressing blockchain issues
In the early days of cryptocurrency, many of them, such as Bitcoin, served as alternatives or substitutes for fiat currency. Banks, the government, and the Federal Reserve had no authority. That didn’t quite happen, or at least hasn’t occurred yet. One reason for this is that maintaining essential characteristics like security and decentralization while expanding and managing the transaction volumes flowing via a traditional financial network has proven challenging.
Energy-efficient
Proof-of-work was the initial method by which blockchain networks verified transactions, mined new tokens, and produced new blocks. Miners competed to solve a cryptographic puzzle the quickest to confirm transactions and enjoy the benefits of new tokens. However, in other networks, like Bitcoin, the race to earn new tokens became so fierce that mining corporations would utilize massive amounts of computer power to solve the riddles, causing environmental concerns.
Gas
Harmony’s network seldom becomes congested because of its high TPS and usage of proof-of-stake validation. As a result, it does not have enormous gas costs, which are now a fraction of a cent per transaction on Harmony. A network like Ethereum sees much more overall demand and transactions than Harmony. Still, Harmony claims on its website that it can alleviate congestion concerns by simply adding additional shards, even if the network is fully in use and witnessing exceptionally high demand.
Capabilities across many chains
By allowing nodes on other blockchain networks to verify transactions, Harmony’s platform can transfer data across various blockchain networks, regardless of whether they use proof-of-stake or proof-of-work governance. At the end of November, Harmony introduced Horizon, a cross-chain interoperability bridge with Ethereum, allowing exchanges between the two networks. This innovation can revolutionize cross-border payments and make cryptocurrency exchanges more convenient. Harmony has also established connections with other blockchains, such as Binance.
NFTs have a lot of promise.
Harmony’s cross-chain capabilities bring up some exciting possibilities for non-fungible tokens (NFT), safe digital art, video, and music assets that may transmit via a blockchain network. For one thing, cheaper gas expenses may make the web more enticing to developers interested in minting NFTs. According to Harmony, bridging NFTs from one network to another may be costly at first, but subsequent transactions will be inexpensive. Harmony also announced on Twitter that it is working on NFT Lending, NFT Verification, and rationalization, among other features.
Harmony Price
In 24-hour trading volume, Harmony is currently trading at $0.282798, with a price of $0.282798. Harmony has decreased by 12.5%. There are 12 billion coins in circulation, with a total supply of 13.2 billion. It is now trading at 0.3295 USD, down -13.56 percent from its all-time high and 27.46 percent from its all-time low of 0.2235 USD. The circulating supply of ONE is 11.58 billion units.
Harmony seeks to provide a decentralized blockchain that is both fast and open.
According to the researchers, the protocol has accomplished safe and random state sharding. The Harmony Mainnet is capable of supporting thousands of nodes in many shards, generating blocks in a matter of seconds with immediate finality. Stake delegation, reward compounding, and double-sign slashing are in support by its staking system, which decreases centralization while supporting stake delegation, reward compounding, and double-sign slashing. Harmony attempts to create an open network of nodes managed and regulated by a broad group of people.
Harmony Stock
The maximum quantity of Harmony (ONE) tokens is 12,600,000,000. The market’s circulation supply is around 9,486,327,268 ONE as of February 2022.
The original seed sale accounted for 22.4 percent of the total quantity of ONE token. Another 12.5 percent was aside for a Launchpad sale. 16.9% of the supply went to the Harmony founding team and developers. A total of 26.4 percent of ONE token were there to protocol development. It is with the remaining 21.8 percent going to ecosystem development.
Harmony Value
Harmony (ONE) began the year at $0.042 and climbed to a high of $0.2233 on March 29, 2022. That’s a $5,216 percent increase.
ONE had enormous price fluctuations in April 2022, plummeting from its March peak to $0.0850 on April 23, losing 61 percent of its worth. It swiftly recovered and restored 71 percent of its value by May 3, 2022, holding at $0,1480.
Harmony denied a rise over the March 29 high in September 2022, resulting in a substantial drop in the following days.
The currency, however, found support at $0.11 and bounced off of it. The most recent rise seems to have been catalyzed by this double bottom. On October 26, Harmony hit a new all-time high of $0.3798. It then fell, hitting $0.29 on November 11, 2022. On December 3, a sudden burst of crypto mayhem saw all major currencies, including Harmony, down by 45 percent in only 24 hours.
What is the Harmony Worth?
The Harmony mainnet promises to reinvent block generation by focusing on processing speed and validity. The organization dramatically lowered node validation times by using the sharding technique.
Harmony established the Verifiable Random Function (VRF) for impartial and unexpected shard membership to safeguard nodes and secure validation. It implies that nodes and validators are randomly allocated and re-assigning.
Harmony Grants is a project effort to support innovation and attract developers to the main net.
The consensus protocol for Proof-of-Stake (PoS) is introduced in Harmony. This mechanism, known as effective proof-of-stake (EPoS), enables hundreds of validators to stake simultaneously. This consensus mechanism is in line with the Harmony network’s sharding notion.
EPoS is for speedier processing times and more scalability than proof-of-work (PoW) consensus algorithms. Staking consensus systems depend on many value holders who act as validators, while PoW demands a lot of electrical and computer capacity.
To recruit additional node operators, Harmony is trying to increase staking incentives. The Harmony Open Staking program encourages users to connect with the network and rewards those with one token.
Harmony Market Cap
Despite a recent drop to $0.44 from $0.84, the currency is still up more than 30,000 percent year to date. It has risen to 48th place in the crypto league table, with a market capitalization of $3.1 billion.
Gala already has 20,000 “Founders’ Nodes,” but it is now trying to expand node ownership to include gamers, allowing them a say in how the games and platform are there. The Gala Network released Town Star, a decentralized, free, play-to-earn ‘town and farming’ game. Players put money into their plot of land, including purchasing NFTs, to generate cash and enhance their town with the money they earn. The Town Star Node Licenses, offered in a “limited quantity,” will “supercharge” that growth. Also, it will enable users to receive incentives by sharing part of the Town Star burden.
Harmony Price Prediction
Price Prediction for Harmony in 2023
If you intend to keep the coin, it will be a better option for you since the forecast indicates that the price will increase to a new high in the middle of the year. Also, by the end of the year, it will surprise you with its price. According to analysts, the coin’s price would be around USD 1.25 before the end of the year.
Price Prediction for Harmony Crypto in 2023
As we all know, the firm is growing, and in the following years, it will work with other businesses and invest in the company. It will be the most acceptable investment for the corporation because if they make a significant profit. The coin price will rise automatically, and traders will make a substantial profit. By the end of the year, the coin’s price is to be about USD 1.523.
Price Forecast for Harmony in 2024
It will be our second and last forecast of the day, and given that the currency’s price has been growing year after year, the year 2024 will be no different. According to analysts, the coin’s price might reach about USD 2 before the end of the year, and it is that the price will continue to rise.
Price Prediction for Harmony in 2025
So, are you ready to learn the year’s One Harmony price prediction? Many investors have previously seen this information on other sites, and we will also give you the same information. You will have to decide whether or not to invest in the currency, as we have already shared some other market currencies. According to experts, the coin’s price might reach USD 2.263 before the end of the year.
Price Prediction for Harmony 2026
The coin’s next prediction has arrived, and many people are still looking for the prediction of Harmony to find out what the coin’s record will be if holders keep it for a long time. It’s encouraging to note that many investors have already acquired this currency on the trading market and held it for a long time to profit handsomely from the platform. According to the experts, the coin has a reasonable probability of reaching USD 0.52392226703 before the end of 2026.
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