Harmony is a layer-2 blockchain platform that enables the development and deployment of decentralised applications (dApps) on the Ethereum network. Harmony prioritises processing validation speed by employing a technique known as sharding. Sharding divides a blockchain company’s whole network into smaller segments known as shards in order to reduce network latency. This enables Harmony’s 2-second transaction finality while charging 100 times less than other blockchain transactions.
Harmony has a governance token called as ONE, which symbolises project voting power. ONE is based on an efficient proof-of-stake (PoS) mechanism that enables energy-efficient and low-cost node validations.
Another advantage of PoS is that it prevents centralization. This is due to the fact that validators with a big number of staked tokens are required to operate more nodes, whilst validators with fewer stake run fewer nodes. Harmony currently has over 1,000 active nodes, with the community running 800 of them.
On Crypto.com, you may purchase ONE. Individuals interested in purchasing cryptocurrencies might consider using a digital asset exchange such as Crypto.com. Always conduct your own research before purchasing cryptocurrencies, since they are very volatile investments.
The first step in obtaining your ONE is to register an account with a cryptocurrency exchange such as Crypto.com. Before you can start trading, you must first authenticate your identity. This entails providing your legal first and last names. After that, choose the type of government ID you want to use, take a photo of it, and email it in. Finally, users must provide a photograph of themselves that corresponds to the form of identity previously provided.
When it comes to storing your cryptocurrency, there are two options: software wallets and hardware wallets. A software wallet is a programme that runs on your computer or mobile device, but a hardware wallet is a form of wallet that holds the user’s private keys in a safe hardware device. This keeps your private key information separate from your PC and on the external device.
Once you’ve created your account, you’ll need to link a funding method in order for money to be transferred to it. The most prevalent ways include debit or credit cards, as well as direct bank transfers. You may now begin purchasing ONE when you have established a payment method.
Bonus section: Keep a look out for potential Harmony network partners and integrations, since this is a wonderful indicator of how the firm is progressing.