OnePrice

(ONE)

Harmony (ONE) is a decentralized blockchain platform engineered for high scalability and interoperability. It aims to support fast, low-cost decentralized applications (dApps). Its core technology involves a sharding-based architecture that partitions the network to process transactions in parallel, combined with an Effective Proof of Stake (EPoS) consensus mechanism for security and efficiency. This design allows for high throughput and rapid transaction finality, addressing common blockchain limitations.

The ONE token serves several crucial functions within the Harmony ecosystem. It is primarily used to cover transaction fees, gas costs, and storage fees across the network. Additionally, ONE is vital for staking, allowing holders to secure the Harmony blockchain and earn rewards for contributing to network stability. The token is also slated to play a key role in the governance of the Harmony protocol, enabling community participation in network decisions and evolution.

Users can stake ONE tokens either as delegators or by running a validator node. Delegators stake their ONE tokens by assigning them to existing validators, earning a percentage of the block rewards generated. Validators, in contrast, operate full nodes to confirm transactions and secure the network, receiving a larger share of rewards. The minimum stake for delegators is 1,000 ONE, and for validators, it is 10,000 ONE. Rewards are dynamic, influenced by factors like the total percentage of tokens staked and the performance of individual validators.

Harmony (ONE) has a maximum supply of 12.6 billion tokens. Approximately 441 million new tokens are minted annually as staking rewards. While there isn't a hard capped maximum supply, as Harmony uses inflation to incentivize stakers, the network design aims for eventual zero net issuance. This is achieved by having transaction fees offset the creation of new tokens as network adoption increases. Furthermore, some tokens collected from network penalties are subject to burning, contributing to token scarcity.

Harmony achieves its impressive scalability and transaction speed through the implementation of random state sharding. This innovative approach divides the blockchain into multiple smaller, independent partitions, known as shards. Each shard can process transactions concurrently, significantly increasing the network's overall throughput and reducing latency. This architecture enables Harmony to boast a transaction finality of approximately 2 seconds, along with notably lower transaction fees compared to some other prominent blockchain platforms, making it efficient for various dApps.

Harmony is designed with strong interoperability features, supporting seamless asset exchange with various other blockchain networks, including Ethereum and Bitcoin, through dedicated on-chain bridges. Protocols such as LayerZero further enhance this capability by providing cross-chain infrastructure for asset transfers between Harmony and other compatible blockchains, like Ethereum or other EVM-compatible networks. This focus on interoperability aims to integrate Harmony within the broader Web3 ecosystem, allowing for fluid movement of digital assets and data across diverse platforms.