Thursday, July 25, 2024

What is the Harmony (ONE) blockchain and why is it so popular?

Harmony (ONE) is a platform used for blockchain activities. Its main aim is to tackle the problems of decentralization and scalability without comprising the quality of either. Launched in 2019 as part of Binance’s initial exchange offering, its goal was to bridge both. Built with decentralization in mind, the emphasis is data sharing and constructing marketplaces dealing with non-fungible assets and fungible tokens.

Harmony, with the introduction of its new platform, promises high throughput with the following lows: costs and latency. These will put the platform at the center of groundwork efforts for the future. It will play a key role in the smooth running of decentralized and trustless economies when they are eventually combined. ONE is a token and can be used as a stake for the consensus model offered by Harmony.

Harmony’s existed as early as April 2018, well before the IEO. Who is the moving force behind Harmony? Several investors played a key role in setting up Harmony. Some of them include Consensus Capital from Silicon Valley, Leminscap VC from Hong Kong and many others. They took a keen interest in its fundraising activities which amounted to $18 million in 2019. Investors also snapped up close to $2.8 billion of the company’s tokens. $12.6 billion has been put aside to handle pre-mining activities.

Investors get access to a Harmony ecosystem that will help the company’s adoption by businesses across various industry sectors. The focus is on decentralized marketplaces, data sharing, ad exchanges, monitoring supply chains, gaming, and credit rating systems. Harmony is being adopted by many companies as it addresses many important blockchain concerns. It is also energy efficient and can be used for cross-chain work. Its huge potential for NFTs is making it very popular with companies in several crypto domains.

Cryptured Team
Cryptured Team
The writers team at Cryptured.com is composed of passionate and experienced journalists who cover the latest developments in the crypto and blockchain space. They aim to provide accurate, unbiased and easy-to-understand news and information for their readers, as well as insights and analysis from industry experts. The writers team is always on the lookout for new and exciting stories that can help the general public learn more about the potential and challenges of these technologies.
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