What is Harmony Price Pridiction ?
Harmony Price: Harmony is a blockchain network that works as a bridge between PoS and PoW networks. The network’s mainnet has a transaction finality time as low as 2 seconds . For comparison, a transaction on Ethereum can take an average of anywhere from 15 seconds to 5 minutes.
What is Harmony (ONE), and How Does It Work?
Like its namesake, Harmony seeks to help make the development of decentralized apps (DApps) easier and more “harmonious”. Harmony also makes deploying DApps on the blockchain easier than ever.
Harmony operates as a sharded proof-of-stake blockchain that eliminates centralization and compensates thousands of validators evenly. Harmony’s effective and energy-efficient PoS consensus approach makes it possible to offer both security and decentralization in a sharded blockchain. Consensus is achieved when all members of a cryptocurrency network agree on the present state of the blockchain.
One of the things that make Harmony’s underlying technology so special is that it uses sharding to provide fast transaction speeds in an energy efficient way. It can also support higher scalability and reliability.
It might be easier to understand what Harmony is capable of with an example.
Harmony has a total supply of 11,586,532,800 ONE tokens used to pay for operating in the ecosystem. Harmony launched as a startup back in 2018 by Dr. Steven Tse with the help of a team of engineers. ONE token’s IEO happened from May 22, 2019 – May 29, 2019. 1,575,000,000 ONE tokens (12.5% of token supply) were offered in the IEO.
Harmony’s Deep Sharding
Harmony is a sharded proof-of-stake (PoS) blockchain that employs an efficient proof-of-stake consensus architecture to reduce centralization and distribute rewards equitably across thousands of validators.
Harmony’s PoS method is the first on a sharded blockchain to provide both security and decentralization. As a result, the members of a cryptocurrency network must agree on the present state of the blockchain, which is referred to as a consensus.
The harmony blockchain employs safe random state sharding to grow the blockchain while maintaining security and decentralization. Harmony separates not just their network nodes but also the blockchain states into shards, which scale linearly in all three elements of machine transactions and storage.
Transactions are handled individually by each shard depending on the shard id supplied in the transaction, allowing shards to execute transactions in parallel, considerably improving the blockchain’s overall transaction processing efficiency.
Sharding is used in this system at both the transaction and the consensus layers, which is a novel approach. This allows the nodes to search for other nodes that are willing to participate in the transaction and to conduct transactions with them only for the purpose of reaching a consensus on the transaction.
This is meant to increase the parallel processing capability of the platform and, as a result, the throughput performance of the system. Finally, by removing the necessity for nodes to keep the entirety of the blockchain state, lower-capacity devices may also be used as network nodes in the future.
The ONE token contributes to the overall health of the Harmony ecosystem by facilitating participation in, and functioning as a form of payment for a variety of network activities — including transactions.
In the Harmony consensus technique, the One token is used as a kind of stake. So holders can earn block incentives and be paid for making a positive contribution to the smooth running of the system.
Harmony Whale Wallets
By analyzing the list of ONE token holders on etherscan.io, we can see that there are a total of 191 ONE token holders right now. And the top wallet contains a 99.7751% supply of ONE token.
It should be noted that Harmony One is actually it’s own blockchain and not a token on Ethereum, as shown above. Until the user interface of the ONE blockchain explorer is updated, we struggle to find the true whale distribution.
Harmony Price Prediction: 2022-2026
According to our research, we predict that ONE token could rise near or above $2.50 by the end of 2026. It’s encouraging to note that Harmony’s been on the rise — and that there are already a lot of investors that see value in buying and holding ONE tokens.
Why is Harmony on the rise?
The establishment of a $370 million ecosystem development fund, the successful conclusion of the Harmony One World conference in Lisbon, and the deployment of numerous big-name protocols on the Harmony network are three reasons for the increased pricing of ONE. Another reason for the ONE’s popularity is a number of collaborations, including integrations with decentralized finance (DeFi) systems like Aave and Curve.
Why do people believe Harmony?
Harmony also promises to provide high throughput while also keeping two “lows” in mind: latency and prices, both of which have to be considered. In order to provide the framework for future decentralized, trustless economies, Harmony is required to place the platform at the core of their activities. As a result, people have confidence in the Harmony network.
Is Harmony’s supply limited?
Yes, Harmony has a limited supply of 13,315,165,800 ONE tokens.