$ONE Harmony is a fast and secure blockchain for decentralized applications. Harmony focuses on achieving scalability by sharding not only network nodes but also blockchain states, “linearly scaling all three aspects of machines, transactions, and storage.”
Harmony’s sharding benefits from verifiable random functions for secure and random state sharding. Harmony’s consensus mechanism, Effective Proof-of-Stake, is an innovation based on Practical Byzantine Fault Tolerant consensus mechanisms to further reduce centralization, while simultaneously supporting delegated staking, reward accrual, and dual-signature staking.
Its utility token, ONE, has been running on the Harmony mainnet since June 2019 and is projected to achieve an annual inflation rate of 3%. The token should be used for staking on behalf of network validators and is required to initiate transactions.
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Disclaimer: This is not investment advice, always do your own research.
