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Launched as part of the initial exchange offering (IEO) on the Binance Launchpad in May 2019, Harmony (ONE) is a decentralized blockchain platform designed as a bridge between scalability and decentralization efforts. Its development went under the motto of “decentralization at scale” with the focus on data sharing and the creation of marketplaces of fungible tokens and non-fungible assets. Furthermore, Harmony comes with an additional promise of delivering high throughput accompanied by two “lows”: latency and fees. Combined, they are supposed to put the platform at the heart of the efforts to lay the foundation of future decentralized trustless economies. Prior to the IEO, Harmony started out as a startup in 2018. Its fundraising project managed to raise USD 18 million in April 2019, drawing attention from multiple investors such as Silicon Valley’s Consensus Capital, Hong Kong’s Lemniscap VC, and others.
focusing on processing speed and validation, the Harmony mainnet aims to revolutionize block creation. By introducing the sharding process, the company reduced node validation times significantly. To ensure the protection of nodes and secure the validation process, Harmony introduced the Verifiable Random Function (VRF) for unbiased and unpredictable shard membership. This means that nodes and validators are assigned and re-assigned in a randomized manner. The project’s Harmony Grants program is an initiative that aims to support innovation and attract developers to the Harmony mainnet.
Harmony was designed from the ground up to solve the blockchain trilemma of security, scalability, and decentralization. Additionally, Harmony was created with the added dimension of privacy too, referred to as the “fourth trilemma” by Dr. Tse. Similar to Ethereum’s ERC-20 and ERC-721 token standards, Harmony has its own familiar token standards, HRC-20 and HRC-721, for cryptocurrencies and non-fungible tokens.
Harmony functions as a scalable network that is leveraged by developers to build decentralized applications. It also functions as a mechanism used to simplify the complexities that come with communication processes between nodes.
Harmony price today is $0.137046 with a 24-hour trading volume of $151,654,530 in this writing. ONE price is up 9.6% in the last 24 hours. It has a circulating supply of 11 Billion ONE coins and a total supply of 13.2 Billion. The Harmony's ROI Harmony exceeded in 'Harmony Ecosystem, Protocol, Smart Contract Platform' categories which had 501% growth over the past year. Harmony underperformed in the crypto market which had 3764% growth over the past year. You can read more here.
Harmony's market cap is almost a Fixed-line from start to end of the chart in the period of a month in this writing, the chart saw 2 rising points on May 91 and Sep 13 till today. However, its liquidity score is 59% upper the market's average score, which means that it would be easier to sell Harmony if the market is rising. You can find our report about Harmony's market capitalization, price, and liquidity score here.
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