What Is Harmony (ONE)?
This page will introduce you to one of the most promising cryptocurrencies on the market — the Harmony ONE crypto. Read this thorough overview of the Harmony blockchain project and discover how to exchange ONE.
If you ever wondered about Harmony One, its advantages, and the opportunities it presents in the growing DeFi ecosystem, you’ve come to the right place.
Harmony is a smart contract-capable blockchain project that was released through an IEO on Binance in 2019. The team managed to raise $18 million, setting it up for success since its early days.
In a nutshell, Harmony tries to find the sweet spot between decentralization and scalability. The team attempts to achieve this perfect balance through a technology called sharding, allowing them to create a transaction block in mere seconds.
More importantly, while the Harmony project focuses on transaction speeds, it does this without sacrificing security or decentralization. To this end, it uses a modified proof of stake consensus mechanism called EPoS that allows hundreds of simultaneous validator nodes. Consequently, the ecosystem provides a viable staking economy for investors wishing to stake ONE crypto tokens.
Harmony is also compatible with the Ethereum Virtual Machine. This could allow developers to easily migrate and enjoy faster, energy-efficient, and cheap transactions and create bridges between different blockchains. The ONE token is used to pay for transaction fees on the network, as well as staking on validator nodes for securing the Harmony blockchain.
Harmony Price Index
The Harmony ONE cryptocurrency experienced a price surge shortly after it was released in 2019. This coincided with the market’s short-lived bull run during that period, where many coins experienced consequential rallies.
The bear market that followed pushed ONE tokens to new all-time lows. Even IEO investors were at a loss at that time. The Harmony price reached lower than it was originally sold for during the crowdfunding event.
That said, the ONE price chart showed another price surge during the DeFi craze in 2020. However, this is nothing compared to the price rally that began in early 2021. ONE tokens made 2000% gains and reached a new all-time high at this point.
An interesting observation is that Harmony price tends to go up with the increase of adoption of the platform. For instance, its integration with SushiSwap has triggered another bull run. This means that investors should be on the lookout for such developments. They can try and predict similar price movements and proceed to buy Harmony accordingly.
Circulation of Harmony
Harmony is a proof-of-stake token, where a certain number of ONE will be introduced in circulation on a regular basis. As such, Harmony presents no mining capability.
Worth noting is that 34.9% of the total supply was sold during two different launchpad events. The team has kept 16.9% of the total supply.
Both the maximum and circulating supply of Harmony tokens are essential when trying to estimate the real value of Harmony to USD. Once all the tokens are in circulation, the scarcity of ONE will increase.
As the Harmony blockchain encounters success, exchanging ONE tokens will be in great demand. Consequently, the combination of scarcity and increased demand should make the Harmony price USD go up significantly in the future.
Ways of Buying ONE
There are multiple ways of buying ONE tokens on the internet. The most reliable is by exchanging it for another cryptocurrency. If you are wondering where you can proceed with a ONE exchange of this type, look no further than this page.
On Godex, you will get the best ONE converter, as it will allow you to exchange ONE for 300+ different cryptocurrencies. This is a unique feature, as most services will only offer the BTC or USDT trading pairs.
Moreover, our Harmony exchange is one of the easiest to use. You can complete the process in just a couple of clicks. There’s no need to create a user account or go through a complicated KYC procedure. Before you convert ONE, simply select the cryptocurrency you wish to swap for Harmony, provide your wallet address, and complete your ONE exchange by following the instructions on your screen.
This will allow you to maintain your privacy at all times and keep you safe from malicious individuals.
Other options to buy ONE include:
- centralized exchanges, where you need to go through lengthy ID verification procedures.
- Decentralized exchanges, which severely limit the choice of cryptos you can swap for ONE.