2022-12-03
Blog Cryptocurrency

ONE Coin

Introduction

In this article, we intend to introduce the Harmony blockchain platform and ONE token. Another project is designed to increase transaction speed and scalability, as well as designed to use decentralized applications or DApps. ONE known as the native token of the Harmony platform. In this article, we have provided you with all the information you need to have good knowledge of this network. Then we will talk about the founders, benefits, and goals of this platform, and at the end, we have brought you wallets and exchanges that support harmony (ONE).

ONE Token

Harmony (ONE) is a platform that provides users with a variety of options to participate in the ecosystem and acts as a payment mechanism for various actions. Harmony (ONE) coin is used for transactions and network fees and also to secure the Harmony blockchain. Any participant who acts as a node of the network for these targets will be rewarded. Harmony (ONE) also acts as a:

1. ONE uses the EPoS consensus model and allows shareholders to receive block rewards and transaction fees.

2. This coin is used to pay various costs including transactions, storage, and gas fees.

3. ONE is used in this platform by providing voting rights to the owners.

Harmony (ONE)

Harmony Is a blockchain-based platform founded in 2017. The founding team of Harmony consists of 12 professionals, seven of whom are former employees of Google, Apple, Microsoft, and Amazon. Harmony provides a high-consensus, low-latency, low-cost platform for the future of the decentralized economy. Using the best research methods and the most optimal engineering mechanism in an optimized system, they intend to solve the problems in other blockchain ecosystems. To achieve the scalability goal, Harmony Network has built the entire technology suite from the beginning with a focus on optimization. Another goal is to simplify the creation and use of decentralized applications (DApps). The network intends to develop a decentralized application approach focusing on the sharding process, which allows you to create blocks in seconds. Harmony has made a number of important innovations in its consensus protocols, internal systems, and network engineering and provides a platform for decentralized DApp applications that are not possible in other blockchains.

What Makes Harmony Unique?

By focusing on processing speed and validation, Harmony’s core network intends to revolutionize blockchain , which significantly reduces node validation time by introducing the sharding process.

Harmony platform features

1. The emergence of decentralized and secure economies was noted.

2. Decentralization and scalability with the aim of maintaining security.

3. Provides Open Source infrastructure for world data.

ONE, Maximum Total Supply and Circulation Supply

Harmony (ONE) has a maximum supply of 12,600,000,000 tokens. As of February 2021, the market supply is around 9,486,327,268 ONE.

Of the total ONE token supply, 22.4% is allocated to initial seed sales. Another 12.5% was allocated to additional Launchpad sales. Harmony’s founding team received 16.9 percent of the total supply. About 26.4% of ONE token is dedicated to protocol development, while another 21.8% is dedicated to ecosystem development.

What is the sharding protocol? And what role does it play in the Harmony platform?

Sharding involves breaking down a very large database, such as a blockchain, into smaller, controllable sections. Using this method improves system performance. A blockchain network is a database with nodes that represent individual data servers. If we apply sharding in a blockchain, it means splitting the network into separate sections or shards. Each section contains a unique set of smart contracts and account balances. Another advantage of using this method is that there is no need for full blockchain storage by all nodes, and this allows smaller nodes with less capacity to operate as part of the network. Dividing the blockchain into more controllable segments helps to increase the security and speed of trading. Zilliqa is one of the most famous Cryptocurrencies that uses the Sharding protocol.

Harmony ecosystem


In the picture above, you can see the super-optimized and advanced Harmony ecosystem, which consists of hundreds of projects, including Dapps ، Exchanges, and wallets. 

Who Are the Founders of Harmony?

Stephen Tse

is the founder and CEO of Harmony. He holds a Ph.D. in Security Protocols and Compiler Certification from the University of Pennsylvania.

In 2017, he founded Harmony. The founding team of Harmony consists of twelve people, seven of whom are former employees of Google , Apple , Microsoft, and Amazon.

Rongjian Lan

was a search engine engineer for the Google Play Store. He has published more than 10 scientific papers on space-time query and map-based visualization, and in early 2017 began research on decentralized protocols.

Sahil dewan

is a graduate of Harvard Business School, where he served as CEO of the Blockchain and Cryptocurrency Club, founded a start-up IT company, and as CEO of AIESEC India, a youth leadership organization in more than 125 countries.

Roadmap

Cooperation Chart

In the image above, we see Chainlink working with Harmony. In this collaboration, Harmony developers can now start experimenting by referring to Chainlink oracles for high-quality, low-latency feeds and building a variety of data-based DeFi applications. This was just an example of exciting news for the Harmony platform.

Token wallets (one)

Among the above wallets, a trust wallet can be a good option both in terms of security and the convenience of working with this wallet. There is an instructional video on how to work with this wallet which you can find on the website.

Where Can You Buy Harmony (ONE)?

Conclusion

In this article, we have introduced the Harmony and Kevin ONE platform. Harmony is a platform for scalability and decentralization built with a strong and expert team with a track record of major tech companies, including Google, Apple, Microsoft, and Amazon. Like any other blockchain project, the progress of the project depends on the fulfillment of the roadmap commitments and goals.

Reference:

currencies/harmony

coinmarketcal.com

zoomarz.com

harmony.one/

harmony-protocol

coinmarketcal/