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Highlights
- Harmony, a blockchain-based platform, uses the sharding technique and aims to facilitate DAapps creation and use
- Its network runs on Effective Proof of Stake, a newer version of the proof-of-stake model
- The said method is relatively more cost-effective, scalable and is energy-efficient too
One of the relatively new and lesser-known cryptocurrencies that could be a hidden gem for crypto investors is Harmony. Founded by Stephen Tse, the crypto is currently ranked 66th among the top cryptocurrencies worldwide, with a market cap of over US$1.4 billion.
Source: © Vladsseven | Megapixl.com
Know more about Harmony
Being a blockchain platform, Harmony aims to facilitate the creation and use of DApps. In fact, it aims to be a bridge between scalability and decentralisation and lays emphasis on avoiding network congestion problems.
Related Read: Why is Harmony (ONE) crypto migrating wallet to MetaMask?
Further, it makes use of the sharding technique by splitting its network into several groups of validators who validate transactions and create new blocks.
Currently, its network can process 2,000 transactions per second, and Harmony believes that one day, its network will boast processing 10 million transactions every second.
Further, the platform works on the newer version of the proof-of-stake model, called effective proof-of-stake (EPoS), which is much more energy-efficient than the proof-of-work mining concepts, thus enabling Harmony to keep its gas fee lower in comparison to its counterparts.
Moreover, EPoS facilitates faster processing times as well as improved scalability.
Also Read: Seeking Solana (SOL) crypto? Things you must know
Harmony’s price
The crypto is currently valued at US$0.1259, with a price gain of 1.88% over the last 24 hours.
Harmony’s native token is called ONE. As of now, it has a circulating supply of over 11.9 billion ONE coins. On the other hand, its total coin supply is not known.
It is noted that Harmony’s token is used for staking, and the holders can earn block rewards for the same, thereby ensuring the smooth running of the system.
Moreover, the ONE token can be utilised for voting, paying transaction fees as well as gas fees, etc.
Do Read: What is Monero (XMR) crypto? Know about its features and weaknesses
Where to buy ONE token from?
Harmony crypto can be bought from several crypto exchanges like Binance, Huobi Global, MXC.COM, KuCoin, Gate.io, etc.
Interesting Read: 5 must-read crypto trading tips for beginners
Bottom Line
Investing in cryptocurrencies is a personal choice. Hence, investors must do their own research, including going through the desired crypto's whitepaper, before staking their money in these new-age digital currencies.
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