Harmony - A blockchain of bridges
Harmony works with many chains to make transactions faster and cheaper.
Concise Crypto
May 12, 2022
Harmony (ONE)
What is Harmony?
Harmony is a fast, secure, open blockchain that allows for blocks to be created in seconds. Harmony can be bridged to Ethereum and Binance Smart Chain, as well as other blockchains allowing users to transfer assets securely across multiple chains.
Why does Harmony have value?
Harmony can be used to overcome expensive fees on Ethereum. It is also a central resource for developers who are looking to build Ethereum compatible Dapps but want to do it on a platform that is faster and less expensive for users. It settles transactions on it’s own blockchain so it’s a layer 1 chain but it acts like a layer 2 with deep integrations on Ethereum and Binance. In that way, it has value by offering low cost, fast transactions, for Ethereum/Binance compatible decentralized applications.
What are the Pros of Harmony?
● Highly scalable.
● Transactions are fast and low cost.
● Compatible with Ethereum and other smart contracts blockchains.
What are the Cons of Harmony?
● Harmony has strong competitors that are more engrained in the Ethereum community.
What are ONE’s tokenomics?
The maximum supply of ONE is 12.6 billion. 22.4% were sold in the initial seed; 12.5% were sold on the Binance Launchpad; 16.9% went to the founding and developers team; 26.4% is reserved for protocol development; and 21.8% to ecosystem development.
Who founded Harmony?
Stephen Tse, Ph.D specialized in cryptographic protocols.
Who are Harmony’s investors?
Harmony has conducted 3 funding rounds and raised $18 million. Its main investors are Hashkey, Digital Asset Capital Management, Consensus Capital Holdings, BCA Fund, UniValues Associates, Lemniscap, and AU21 Capital.
Concise Crypto Grade:
B+ :We like Harmony as a way to explore DeFi, NFT’s, and more on popular Ethereum apps but at a lower cost and with faster finality. Harmony continues to build out partnerships with other popular blockchains and seems to be benefiting from more publicity. We see Harmony becoming one of the more successful chains over the next 5 years.
Where can I buy ONE?
Binance, KuCoin, Huobi Global, Gate.io, PancakeSwap, Crypto.com
What ecosystem does Harmony run on?
It’s own platform bridged to Ethereum and Binance Smart Chain.