In recent months, many people are showing interest in investing in cryptocurrencies amidst its market’s volatility. Cryptocurrency’s noise in the online world also contributed to why it continuously increases in popularity. It’s a good way to diversify your investment portfolio and works on a decentralized platform. On that note, there is a large variety of digital coins you can find online but not many are certain on which is the best one for them.
If you are unsure of what to pick, it’s best to go for tokens that provide the best benefits and the ONE who has it all is the Harmony cryptocurrency. It uses advanced technology that allows faster and more efficient transactions with only 2 seconds of waiting time. Curious to hear more about it? Uncover more details about it here at the BTC Post:
An overview of Harmony
Harmony is an open and fast blockchain that is relatively new to the market. Its mainnet runs Ethereum decentralized applications (dApps), allowing transactions to be completed within 2 seconds. Its costs are also 1,000 times lower than most fees in the market.
How did it begin?
Established in 2017, Harmony was founded by Dr. Stephen Tse. He established the company after fulfilling his doctoral degree in cryptographic protocols and type theory at the University of Pennsylvania. As he was finishing up his education, Tse became a research intern at Microsoft which helped elevate his experience and knowledge in the field of technology. Then in 2006, he started working as a senior engineer at Google and was part of the company for four years.
Dr. Tse created the company for Harmony with 12 other people from different backgrounds including Rongjian Lan, Sahil Dewan and Nick White among others. Seven of the founding members were noted to have previous experiences in big companies like Google, Apple, Microsoft and Amazon.
What is the current standing of the Harmony cryptocurrency?
The Harmony cryptocurrency or better known as ONE is the native token in the Harmony blockchain. According to CoinMarketCap, its current market price is $0.3408. It also has a market capitalization of more than $4 billion. On October 26, 2021, ONE reached its all-time high price of $0.3798 while its lowest was on March 13, 2020, at the rate of $0.001257.
What makes Harmony different from the rest?
Compared to other platforms, Harmony introduces a new set of processes that makes it stand out from the rest, namely sharding and staking. Sharding is a concept of breaking the systems into specific pieces or also called ‘shards’ to result in overall faster transactions.
On another hand, staking is a method where users have wider options on what to do with their coins. For example, you can put them on hold momentarily to get better interest and more rewards in the long run.
Why choose the Harmony cryptocurrency?
While some people are unfamiliar with Harmony cryptocurrency since it’s a new contender to the market, it still has notable aspects that distinguish it from its competitors. Here are the different reasons why you should invest in this digital coin:
- It applies a proof-of-stake protocol
The Harmony blockchain uses a modified version of the Proof-of-Stake (PoS) consensus which allows the system to validate transactions and refrain from double counting. This new method is called the effective Proof-of-Stake (EPoS) which lets hundreds of validators stake simultaneously. It’s an advanced protocol that was developed with the sharding concept applied in the Harmony network.
The EPoS resolves issues related to processing times and scalability which results in faster transactions. Additionally, it uses less electricity and computing power than the Proof-of-Work (PoW) mechanism since it only relies on the number of value holders who become the validators in the blockchain. This makes EPoS not only quicker but it’s environmentally friendly as well.
- It has affordable transaction fees
Transactions in the Harmony network are not only fast but are budget-friendly too. In contrast with other options, Harmony has the lowest fees in both its taxes and transactions. Its rates could go as low as $0.000001 and the transactions can be completed within the span of 2 seconds.
- It supports DApps
Developers can create decentralized applications (DApps) which are digital programs that exist through the Harmony blockchain. This typically functions with smart contracts which is a set of terms and conditions that have to be agreed upon by both parties—the sender and receiver. In turn, users of Harmony or the ONE cryptocurrency can have faster, cheaper and more efficient transactions.
- It’s open for development
Harmony cryptocurrency is working with similar crypto platforms to improve the overall scaling across Ethereum, Binance, Terra and other blockchains. The goal is to create a uniform scaling using the sharding mainnet of Harmony that completes transactions in 2 seconds and boasts more than $100 million cross-chain assets.
Where you can buy the ONE cryptocurrency
The ONE token can be purchased in any of the following exchange sites:
Founded in 2017 in Hong Kong, Binance is the leading cryptocurrency exchange site in the world with over 500 cryptocurrencies offered. This includes Bitcoin (BTC), Ether (ETH), Dogecoin (DOGE) and Harmony (ONE) among others. Through this exchange, users can buy and sell different digital coins using their fiat money.
Bybit is a cryptocurrency exchange founded in March 2018 with over 3 million users. It’s a digital platform suitable for crypto traders who prefer a fast matching engine and high-quality customer service.
- Mandala Exchange
Although it was only open to the public in December 2020, the Mandala Exchange is popular among many crypto enthusiasts as it was launched on the Binance Cloud platform. They are known for their transparency and security which ensures the safety of their users while trading on the site. Invest in the ONE cryptocurrency through Mandala’s app now for a more convenient experience.
- Huobi Global
Dubbed as a rising global digital asset exchange, Huobi Global provides a secure and trusted platform for all interested traders. It was established in 2013 in China with different offices around the world including Hong Kong, South Korea and Japan to name a few.
Harmony cryptocurrency: Go with the ONE who has it all!
Invest in the Harmony cryptocurrency now and get all the benefits that come with it which include faster, safer and cheaper transactions. Moreover, it’s a great way to widen your scope of digital assets and improve your overall experience with crypto. Try it today and make the most out of it.
Bitcoin (BTC) $ 27,721.00 2.1%
Ethereum (ETH) $ 1,765.92 2.79%
Tether (USDT) $ 1.01 0.18%
BNB (BNB) $ 325.80 0.82%
USD Coin (USDC) $ 1.00 0.09%
XRP (XRP) $ 0.437724 0.32%
Cardano (ADA) $ 0.362634 1.22%
Dogecoin (DOGE) $ 0.076096 1.24%
Lido Staked Ether (STETH) $ 1,762.60 2.6%
Polygon (MATIC) $ 1.11 2.69%
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