Decentralised applications (Dapps) have become a part of our lives. Alongside this, the number of digital platforms continues to increase. Harmony (ONE) is a platform that has gained prominence in this community. Therefore, investors have started talking about the project in recent times. Discover all you need to know about the project in this Zatrun.com article.
What is Harmony (ONE) and How Does It Work?
Harmony (ONE), launched on Binance Launchpad in May 2019, is a blockchain platform designed as a bridge between scalability and decentralisation efforts. It focuses on data sharing and the creation of markets consisting of NFT assets. Additionally, it has the slogan of “full decentralisation.” The platform offers low latency and transaction fees. For this purpose, it has developed a special PoS model called Effective Proof-of-Stake (EPoS) and uses Sharding technology.
EPoS provides full decentralisation to the platform while creating high scalability and security. Thus, users can develop their own decentralised applications and NFTs in a low-cost environment. The platform is among the significant projects launched as a rival to Ethereum, and it continues to increase its number of users.
Harmony rebuilt its entire technology architecture from scratch by focusing on optimisation to achieve scalability goals. They placed a series of important innovations in consensus mechanisms, internal systems, and network engineering. The platform provides an ecosystem for Dapps that are not possible in other blockchains by implementing those innovations. These include Dapps serving various areas such as decentralised exchanges, high-efficiency payment systems, and the Internet of Things (IoT).
Is ONE a Good Investment?
The Harmony platform is supported by ONE token, which allows users to participate in the ecosystem and serves as a payment mechanism for various actions. Developers and businesses can create alignment with the goals and incentives of various stakeholders using the blockchain.
The upcoming “zero-knowledge proof” application will make the platform a data sharing ecosystem that can overcome the common problem of many data markets. ONE coin is used for staking, incentives, and payments.
ONE coin currently holds a significant position in the market as the 133rd largest cryptocurrency. The high scalability and decentralisation offered by the Harmony platform are attracting developers to the platform. The cryptocurrency, with a market value of over 259 million dollars, can be bought and sold on major cryptocurrency exchanges like Binance. This also provides high accessibility to the project.