Why Buy Harmony (ONE)?
You might buy Harmony (ONE) as it is one of the first networks to successfully implement sharding, a highly effective solution to the scalability trilemma. It leverages a consensus mechanism called Effective Proof-of-Stake (EPoS), a variant of the classic PoS and the first staking-based model applied to a sharded blockchain. In its validation process, Harmony has recently implemented the Verifiable Random Function, theorised by Italian Silvio Micali, along with Rabin and Vadhan in 1999.
The components that make this network unique and help answer the question “Why buy Harmony (ONE)?” are mainly three: network security, scalability, and speed. Harmony’s promise is the development of apps, crypto games, digital events, and cross-chain operations with significantly reduced fees compared to Ethereum’s Virtual Machine. Additionally, Harmony is the blockchain where one of the most famous crypto games ever, DeFi Kingdom, a play-to-earn RPG, originated, attracting millions of players during the 2021 bull run.
What is Harmony (ONE) and How Did it Start?
To thoroughly evaluate this project and decide whether it’s worth buying Harmony (ONE), you should know that its founder is Stephen Tse. The engineer describes himself as “obsessed” with protocols and computer compilers since high school. After his studies, Stephen worked as a researcher at Microsoft, then moved to Google, and finally to Apple, where he worked on search algorithms. Today, he is the founder and CEO of Harmony. One is a company with about 30 employees and an ambitious roadmap. The official website talks about over 300 million dollars in investments for developing a cross-chain infrastructure, DeFi, with support for NFTs and DAOs.
In conclusion, you can buy Harmony (ONE) if you intend to hold in your crypto wallet a smart contract platform focused on scalability, dedicated to developing decentralised applications (DApps). Its long-term goal is to create a lasting protocol for DApp development, thanks to the combination of various scalability-favouring solutions. But it’s not just about speed: Harmony explores the crypto world by promoting innovation in the entire sector, also through courses and other educational initiatives designed by its DAO.
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