What is Harmony (ONE)

Harmony (ONE) is an open blockchain providing platforms and toolsets for including high-volume decentralized exchanges, interactive fair games, Visa-scale payment systems, and Internet-of-Things transactions.

Harmony
Harmony

Core Features

  • Fully Scalable: Harmony shards not only the network communication and transaction validation like Zilliqa, but also shards the blockchain state. This makes Harmony a fully scalable blockchain.
  • Secure Sharding: Harmony’s sharding process is provably secure thanks to the distributed randomness generation (DRG) process which is unpredictable, unbiased, verifiable and scalable. Harmony also reshards the network in a non-interruptive manner to prevent against slowly adaptive byzantine adversaries.
  • Efficient and Fast Consensus: Unlike other sharding-based blockchains which require PoW to select validators, Harmony is based on PoS and thus energy efficient. Consensus is reached with a linearly scalable BFT algorithm that’s 100 times faster than PBFT.
  • Adaptive-Thresholded PoS: The threshold of stakes required for a node to join the network is adjusted based on the volume of total staking in a way that malicious stakers cannot concentrate their power in a single shard. Moreover, the threshold is low enough so that small stakers can still participate in the network and earn rewards.
  • Scalable Networking Infrastructure: With RaptorQ fountain code, Harmony can propagate blocks quickly within shards or across networks by using the Adaptive Information Dispersal Algorithm. Harmony also adopts Kademlia routing to achieve cross-shard transactions that scale logarithmically with the number of shards.
  • Consistent Cross-Shard Transactions: Harmony supports cross-shard transactions with shards directly communicating with each other. An atomic locking mechanism is used to ensure the consistency of cross-shard transactions.

Harmony Ecosystem

Harmony has completed full Ethereum tooling compatibility to allow developers to scale their applications on Harmony with low fees. 

To build the future of cross-chain finance, Harmony launched several automated money markets like Sushiswap & Curve Finance, and the Harmony Explorer upgrade went live. Harmony also launched Horizon bridge, the first version of its Ethereum-Harmony cross-chain bridge on mainnet and then further extended to Binance Smart Chain (BSC). The Horizon bridge also includes a cross-chain NFT bridge, which is as easy-to-use as the ERC20 token bridge on Horizon. 

Its recent integration with Chainlink makes it easier for developers to create and execute smart contracts with high security and reliability.

What is ONE?

ONE is the native asset of Harmony. It is essential to the fundamental economy of the Harmony ecosystem and users may use ONE to:

  • Pay for platform transaction fees, gas fees
  • Obtain voting shares by staking and participate in voting
  • Deposit the tokens to become validators and earn rewards

How to buy ONE?

You can buy ONE on MEXC following the steps: 

1. Log in to your MEXC account and click [Trade]. You can use either the Spot or Margin mode to buy ONE. 

2. Search “ONE” using the search bar to see the available trading pairs. Take ONE/USDT as an example.

3. Scroll down and go to the [Spot] box. Enter the amount of ONE you want to buy. You can choose from opening a Limit order, a Market order or a Stop-limit order. Take Market order as an example. Click [Buy ONE] to confirm your order. You will find the purchased ONE in your Spot Wallet.

Disclaimer

Please note that the information and data above is cited from the Harmony official website and the project whitepaper. Please directly refer to the source for more details. This is not financial advice and does not constitute an offer or solicitation to offer or recommendation of any investment product. It is for general purposes only and does not take into account your individual needs, investment objectives, and specific financial circumstances. Investment involves risk.

About MEXC Global

Established in April 2018, MEXC Global is a digital asset trading platform with over 7 million users, which offers users one-stop services, including spot, margin, leveraged ETFs, derivatives trading and staking services. The core members of the team come from international enterprises and financial companies and have experience in blockchain and financial industries.

For more information, please visit our website . Follow MEXC Global at Twitter and Telegram.

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The content of this webpage is not investment advice and does not constitute an offer or solicitation to offer or recommendation of any investment product. It is for general purposes only and does not take into account your individual needs, investment objectives, and specific financial circumstances. Investment involves risk.

Please note that the information and data above are cited from third-party sources & whitepapers and do not represent MEXC. Please refer to direct sources for more details. This is not financial advice and does not constitute an offer or solicitation to offer or recommend any investment product. It is for general purposes only and does not take into account your individual needs, investment objectives, and specific financial circumstances. Investment involves risk.

This disclaimer informs readers that the MEXC Creator’s content, views, thoughts, and opinions expressed in the articles belong solely to the creators and authors, and not to MEXC Global itself. MEXC Global doesn’t give any investment recommendations or advice.

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