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Harmony (ONE) is a blockchain based platform designed to solve the problems of scalability and decentralization without sacrificing any ONE. ONE was launched in May 2019 as part of the initial exchange offering (IEO) of binance launchpad. It aims to be a bridge between scalability and decentralization efforts. With the motto of “scale and decentralization”, it emphasizes data sharing and the construction of replaceable tokens and irreplaceable asset markets.

In addition, harmony promises high throughput and two “lows”: latency and cost. They are expected to put the platform at the center of their efforts and build the foundation for the future decentralized and untrusted economy. When they combine.

In 2018 before IEO, harmony began to become a company. But who is behind Harmony (ONE)? Many investors, including consensus capital in Silicon Valley and lemniscap VC in Hong Kong, are interested in their fund-raising work and raised $18million in april2019. Investors purchased the company’s nearly $2.8 billion ONE tokens, of which $12.6 billion was used for pre mining. Harmony brings investors into an ecosystem and enables the company to be adopted in various businesses, focusing on data sharing, decentralized markets, supply chain monitoring, advertising exchanges, credit rating systems and games.

What is ONE?

The ONE token is used as an equity in the harmony consensus model. The holder can get the block reward and get the reward for keeping the system running smoothly. Like many other tier 2 (L2) platforms, harmony has its community token, namely harmony ONE, which emphasizes that the goal of the agreement is to assist billions of people around the world in an open consensus process.
The harmony ONE token is used to pay for all platform activities and facilities, including voting, transaction fees, refueling fees, betting and earning rewards.

What Network Does Harmony ONE Use?

Harmony is an open and fast blockchain, which is characterized by the main network running on the Ethereum network, the transaction termination time is 2 seconds, and the cost is 1000 times lower than that of Ethereum.

Harmony (ONE） blockchain is an L2 blockchain platform built on Ethereum network, which makes it easier for developers to create decentralized applications (dApps). Due to the high gas cost of Ethereum, more altcoins are developing expansion solutions, trying to overthrow Ethereum as the most popular network for dapps development. Unlike many other platforms in this category, harmony cooperates with Ethereum, not competes with it.

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