Are you looking for a new way to invest your money? Harmony One is a new cryptocurrency that has recently launched.
The Harmony One token (H1) is a utility token that allows investors to participate in the Harmony One ecosystem.
Harmony One is a new global financial system built on top of the Ethereum blockchain.
Harmony One aims to provide a safe, transparent, and efficient way to store, transfer, and exchange value.
Harmony One is a completely new type of cryptocurrency. Unlike other coins, Harmony One is designed to be a long term investment.
This means that H1 tokens are not intended to be traded or sold on exchanges. Instead, they are meant to be held over time.
Harmony One is an ERC20 token which can be stored in any wallet including MyEtherWallet, Mist and Metamask.
You can buy H1 with USD, EUR, GBP, RUB, and more using Coinbase, Changelly, Coinmama, and others.
What Is Harmony One?
Ethereum’s layer 2 protocol, Harmony, uses the Ethereum programming language.
It aims to make the process more efficient by providing quicker & cheaper settlements.
Its production mainnet supports four shards of 1000 nodes, which produce blocks every two seconds.
Harmony’s mainnet supports 8 shards of 400 nodes, generating a block every 10 minutes.
Pangaea gathers hundreds of nodes from around the world. Its governance is decentralized, and the nodes are run by the Harmony team.
Harmony focuses on performance and efficiency.
Their sharding protocol makes it faster to create blocks. This allows them to scale up transaction capacity per second.
Harmony provides a secure decentralized blockchain platform for fungible tokens and non-fungibles.
Harmony is a layer 2 protocol that allows users to run smart contracts on top of the Ethereum network.
Harmony helps businesses create marketplaces for fungible tokens and for non-fungible tokens.
Harmony is an efficient layer two protocol for apps built on Ethereum and other infrastructures.
ONE is the utility token of the Harmony Network.
It is used for paying for various fees, including transaction fees (which are paid by users), storage fees (paid by validators) and gas fees (paid by users).
In addition, ONE is used for staking in order to earn block rewards. This means that if you hold ONE, you’ll be rewarded for your contribution to the network.
Furthermore, holders of ONE get the right to vote in the platform’s governance process.
The Latest On Harmony One
Harmony gained traction when Ethereum’s fees spiked. Harmony was compatible with Ethereum.
Lending platforms were built between Ethereum and Harmony. The Harmony project has been undergoing a lot of changes recently.
It launched a new stablecoin called ONE backed by the OIN Foundation. This means that it will become the first decentralized stablecoin.
This was a major milestone for Harmony since it helps to grow its DeFi community.
Stablecoins are used to back up crypto assets.
This means that if you want to exchange your asset for another one, you need to get rid of the original asset first.
For example, if you want to trade Ethereum for Bitcoin, you need to sell Ether first.
A stable coin is different because it always stays the same value.
If you want to exchange your stable coin for another one, you won’t need to sell anything. You’ll simply convert your stable coin into the new one.
Stablecoins are created by issuing digital currency, known as collateral, and then backing it with an asset, such as gold.
Harmony Network is an open source blockchain protocol designed to provide financial services by creating a decentralized ecosystem that allows individuals to access banking products without requiring a bank account.
Prices are provided by Chainlink price feeds, which are decentralized databases that store information about contracts that reflect the latest value of different assets and market data.
As stated by Harmony, chain link price feeds are natively built into the Harmony blockchain and can be implemented quickly and at a low cost.
Their collaboration with the HummingBot network led to the creation of LiquidityDAO, an open, autonomous organization devoted to advancing the Harmony platform’s liquidity, primarily through the progression of Hummingbot open source infrastructure development.
Harmony’s donation was used for the development of Liquidity.
Harmony’s self-governed DAO was formed in order to determine which projects to fund. Harmony’s cross-chain NFT token bridge was launched in November 2021.
Highlighting the high fees on the Ethereum network might discourage new users from joining the token market.
As a result, content creators and collectors could mint and collect NFT’s on the Harmony blockchain at lower transaction costs and transfer fees. Artists on the Harmony Network could mint their first batch of NFTs on the network or learn how to operate a blockchain.
History Of Harmony One Price
Coinmarketcap shows that Harmony ONE was listed on 9 January 2019 and rose to $0.0025.
In 2019, there was no significant increase in the price of Harmony ONE. By 20 February 2020, the price of Harmony ONE was $0.01.
On 23 February 2020, the price fell to $0.02. On 28 March 2020, the price increased to $0.20.
On 12 September 2020, the price of ONE was $0.21. On 21 September 2020, the price decreased to $0.12.
Trading upwards, the ONE token reached an all-time-high of $0.3779 on 26 October. It closed the year on 31 December at $0.3777.
Price action has been very bullish for the ONE token since then. It nearly touched it’s all-time-low of $0.1166 on 21 November 2019.
At the time of this report, it was trading at $1.42, which gives it a market cap of $1.4 billion. This makes it the 58th most valuable project out there.
Should You Invest This Year?
Ethereum Cardano Solana is a well-known brand, but it doesn’t have anything fundamentally new to offer.
It could become an important part of the blockchain ecosystem, if it manages to develop a proper marketing strategy.
Harmony ONE will be worth more than $0.127. It could reach $0.127 within a month. A bearish forecast predicted that the price would fall below $0.127.
The price could reach $0 in a year. Various algorithms gave a long-term price prediction of $0.37 and $1.23 in two years’ time.
Harmony ONE coin price forecast shows an average price of $0.17 in 2022, $0,19 in 2023, and $0.26 in 2024.
Based on the Harmony ONE coin price forecast, the average price could be as low as $0.15 in 2021, $0.5in 2025 and $3 in 2028.
Researching is important before investing. It helps you make better decisions and avoid bad ones.
It also helps you understand what you’re getting into when trading. Never invest more than you can afford to lose.
Summary
Despite Harmony’s involvement in some popular blockchain fields, such as DeFi and NFTs, this digital currency faces stiff competition from other platforms, such as Ethereum, Cardano, and Solana.
However, whether your investment portfolio can benefit from the ONE token will depend on your circumstances and risk tolerance.
Before investing in Harmony ONE, you should estimate how much risk you are willing to take. Don’t invest money you can’t afford to lose.
