Harmony’s price has risen more than 5,000% since the start of this year. It ranks itself as a quick and secure platform for decentralized apps and makes a big impact and name in the blockchain industry. Harmony owns a market capitalization worth $1.4 Billion.
In the continuously changing crypto game, Harmony is one of the most outstanding projects. This was designed to solve crucial issues plaguing blockchain ecosystems like slow transaction speed, scalability issues, Ethereum, and high fees. It is focused on the Effective Proof-of-Stake (EPoS), the new type of PoS that promises to make crypto eco-friendly.
What Is Harmony (ONE)?
Harmony (ONE) is the next innovation blockchain protocol designed to allow the use of DeFi applications. Its network is completely scalable, secure, and innovative. It works based on creating blocks in a fraction of seconds.
Harmony was founded in 2017 by a former principal engineer who worked for Apple, Stephen Tse. The main motive behind bringing Harmony into existence was innovation in the block creation by calling in the sharding procedure.
It uses the EPoS consensus mechanism, the method which allows hundreds of users at the same time for staking. Harmony’s sole goal is to create an open platform of nodes managed and run by a large community. This node community is named Pangaea.
Harmony One: Price Predictions
Harmony welcomed the year with a trading price of $0.00844. The price rose and started to trade at $0.199 in the middle of March. Though on May 19, the price went down to $0.05688 and the ONE rate remained slow till the middle of July.
Harmony ONE’s value might be trading at $0.5172 by the end of this year. From an average of regular buying and selling. GovCapital says that its price could reach up to $0.2565 by next year and $0.63905 by the end of 2023. They expect ONE to reach $1.00 by February 2025.
TradingBeast predicts ONE’s price will reach $0.2329 by the end of this year and shift to $0.3197 by the end of the year 2023. DigitalCoin predicts a gradual increase in its price from $0.0350 by the end of this year to $0.2806 in 2023 to $0.6059 in 2028.
If the current trends continue and they plan for more partnerships, ONE is predicted to hit $1 by the end of this year. Harmony (ONE) has immense potential to reach all the predictions as per all the calculated analyses.
Harmony ONE: Uses
Harmony (ONE) allows cross-shard transactions to meet asset composability and smart contracts. It helps firms to build marketplaces for non-fungible assets and fungible token usage.
It’s a platform for decentralized applications which can’t be executed on other blockchains. These might include decentralized exchanges, high throughput payment systems, and IoT (Internet of Things) transactions.
ONE is the network’s native token and multipurpose cryptocurrency that runs the network. It can be used to grant voting rights in network governance. It’s also popularly used for paying transaction fees, storage fees, and gas fees. You can also trade them in the market of cryptocurrencies and make a hefty profit out of them.