Harmony one crypto partnerships
We use cookies to improve your browsing experience. By continuing browsing, accepting or closing this message you consent to our use of cookies. Following the partnership started in April, SushiSwap launches a full suite of products on Harmony. Huobi 's business arm Huobi Incubator partners up with Avalanche to jointly incubate emerging projects, with the aim to support and enhance the blockchain startup ecosystem. Binance signs a five-year sponsorship agreement with the Argentine Football Association AFA to become its new global sponsor. This is the first National soccer team Binance partnered with.
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- Harmony (ONE) Hits New ATH of $0.353, Again!
- New collaboration alert: 123swap adopted Polygon Chain
- Find out which wallet you need to manage your crypto
- Harmony (ONE)
- Harmony Protocol Review: Enabling Decentralisation at Scale
- Harmony Has $300M for Projects Looking to Expand Beyond Ethereum
- harmony one visa partnership
- Poolz Obtains $1M Grant from Harmony to Boost Growth of Emerging DeFi Startups
- How to buy Harmony (ONE) in New Zealand
Harmony (ONE) Hits New ATH of $0.353, Again!
By Rasheed Saleuddin. For additional information, please see the disclaimers following the article. Ethereum fees are once again out of control but, unlike previous spikes, there are now many alternative chains ready and willing to pick up the priced-out traffic coming from the dominant DeFi and NFT chain. With much lower fees and faster transaction times, Solana and Terra have grown the quickest, outpacing the earlier challenger, Binance Smart Chain.
Source: l2beat. Judging from the growing value locked in the challenger chains, the recent rally in L1s appears rational: Ethereum will end up ceding market share, no matter how successful its L2 scaling solutions are. Maybe it just makes sense to have a multi-chain future. As the multi-chain future becomes the present, the narrative is shifting towards determining who the winners will be. Harmony is the latest EVM-compatible smart contract platform to play the liquidity incentive game that proved very effective for Polygon and, more recently, Avalanche in their quest to attract both developers and users.
Despite its appreciation, and having a complete L1 platform, its ecosystem is still in development. The question still remains: if they build it, will users come? That is, in a multi-chain world how will a challenger L1 stand out?
Harmony claims to have both. Harmony was founded in by Stephen Tse and launched in as an EVM-compatible, sharded Proof of Stake smart contract blockchain. A normal transfer costs only about 0.
Harmony was the first sharding-based L1 on a mainnet. It has solved the trilemma of decentralization-security-scalability by uniformly scaling with shards. A sharded blockchain requires a large number of validators. To motivate the delegation of stakes across a larger number of validators, Harmony uses a novel Effective Proof of Stake EPoS mechanism.
In many blockchains, the right to propose and confirm blocks is randomly determined but weighted by the amount staked e. Cosmos or by delegating to elected validators EOS. This discourages an over-concentration of tokens with any one node or group of nodes, increasing decentralization and preventing single-shard attack. Sharding allows transactions to be confirmed in parallel, accelerating transaction validation speeds.
Sharding requires a method of assigning nodes to different shards. Though nodes can be assigned randomly, sorted by location, or centrally selected, random sharding has been recognized as the most secure solution. The final result is unbiasable and unpredictable shard membership. VRF is also provided as an on-chain precompile providing true randomness to any dApp on Harmony.
The network is currently secured by independent validators with 1, slots staking 4. The validator network runs nodes across four shards.
Harmony punishes undesired validator behavior in two ways. For validators that sign on conflicting blocks, a slashing penalty is issued on their stake. The validator is then permanently banned from the network. This helps to remove stale validators from clogging the network. Annual issuance is set at million ONE tokens , declining to zero over time, offering predictable and simple tokenomics for holders. What sets Harmony apart from many other layer 1s is that all ONE tokens earned through transaction fees are burnt.
High network usage should lead to zero token inflation. Like with EIP , issue-and-burn tokenomics rewards a growing network by reducing inflation thereby increasing the intrinsic value of the ONE token. This is in the mid-range of staking returns among competing L1s. The next way Harmony differentiates itself from other L1s is with its native bridge - a key requirement for a multi-chain world.
Source: 1kx. Many access points to non-Ethereum layer 1s are fraught with difficulty — assets are easily lost, and fees can skyrocket quickly with less fatal errors. Additionally, some bridges are far from trustless.
Three unidentified powers can seize assets very easily. Avalanche also relies on a multi-sig for transfer back to Ethereum.
A Polkadot bridge is on testnet, and it is quite easy to adapt the bridge to other EVM-compatible chains. The Ethereum bridge has been running for a year, with a full audit and no security issues. A return to Ethereum requires multi-sig confirmation by Harmony validators, at an approximate cost of , gas.
Finality back to Ethereum is achieved within 6 minutes, comparing favorably to L2s and side chains. The ease of bridging has attracted an influx of assets to Harmony. The focus continues to be on wallets and bridging, but now both native and cross-chain dapps are beginning to emerge.
EVM-compatibility is a key competitive advantage for Harmony; to migrate a DApp from Ethereum to Harmony, only minor code edits are required and all the infrastructure and support tooling needed to deploy an Ethereum DApp is readily available.
Subgraphs for analytics. Source: Harmony Newsletter. Source: DeFi Llama. Incentives will drive new deployments. Cross-chain dapps such as Curve and Aave are approved and arriving soon. NFTs can be minted and traded on daVinci.
High gas fees on Ethereum are driving artists and minters to lower-cost chains. The mid-September spike has also driven many artists to Harmony. According to the platform, several hundred artists switched to daVinci over the seven days ending September 15th. Almost creators joined, bringing the total on daVinci to over 5, Source: DeFi Kingdoms.
The challenge for every chain is to attract users, and that requires a critical mass of liquidity. Developers will build where the users are. This chicken-and-egg problem can be addressed by partnering with liquidity providers ahead of launches.
Price provider and random number generator Chainlink is expected to be live on Harmony imminently. In particular, 1Wallet does not require secure enclave hardware or linking with your email identity. Of course, users can also transact with traditional wallets, including MetaMask and Gnosis Safe, easily with Harmony. Fiat onboarding is another key to mainstreaming crypto adoption.
Crypto can be used as a store of value on-chain in countries with weak currencies, but can be easily converted to the local means of payment when actually needed. While it will be a multi chain world, how will the challengers differentiate? How many SushiSwaps and Curve clones does crypto need? How many NFT marketplaces? Harmony may not have the big-name sponsors of Solana and BSC, but it does tick the other three boxes. Of course Harmony is EVM compatible and its bridging is seamless and is transitioning towards a trustless nature.
Incentives have arrived as well. Rewards can go to users, developers, and validators. Some chains use a combination of incentives: Polygon has used MATIC to entice users, compensate validators, purchase rivals Hermez and incentivize developers. For now, incentives appear to have motivated TVL increases on layer 1 challengers Avalanche and Fantom, while L2s, primarily Arbitrum, have grown exponentially over the past month without any native incentives.
Harmony recently launched its own grants and bounties program to build out an ecosystem. NFT platforms and DeFi protocols, new and old e. Curve , will also be prioritized. Finally, Web2 and fiat onboarding partnerships will also receive funding. As its DApp ecosystem grows, Harmony has plans to improve developer and user experiences in the medium term. Using its incentives warchest, Harmony is focusing on the following targets for the next six months:.
Source: Harmony. In a multi-chain world, cross chain partnerships will be crucial, and Harmony has partnered with one of the most successful challengers, Terra. This yield will be accessible directly in 1Wallet. A native Bitcoin bridge and further refinements to the trustless Ethereum bridge are due in Q4 Terra and Polkadot bridges are in testnet. Harmony is also working to incorporate cross-chain bridges for NFTs as well as allowing them to be self-custodied in 1Wallet.
A Bitcoin bridge is also on testnet. Harmony is focusing on a cross-chain API as a way of adding seamlessness to the cross-chain experience. While development on Harmony continues apace, the improvement of the chain itself has been prioritized, with the goal of one second finality and even more secure sharding. Catching up to challenger L1s will require a full commitment to ecosystem development. Incentives using native treasury tokens are needed to build wallets, developer tools, and new smart contract code.
While rewards are necessary, they are not independently sufficient to bring success. A unique approach is required to differentiate a chain from its myriad of competitors in this fast-growing multi-chain world. These communities are mobile-first and less likely to be crypto-native.
New collaboration alert: 123swap adopted Polygon Chain
Harmony is a public blockchain with sharding infrastructure that focuses on speed and security in decentralized applications. The blockchain uses Effective Proof-of-Stake as the underlying technology. The mainnet, launched in , consists of four shards, each having nodes that produce blocks in eight seconds. The team behind Harmony — that call themselves Harmonauts — consists of multiple software and blockchain engineers from major universities and companies around the world. Harmony Project provides a blockchain structure with an open network of nodes for decentralized applications.
Find out which wallet you need to manage your crypto
It uses an innovative sharding technique called Deep Sharding where the layer on which consensus happens is also sharded along with the transaction layer, to magnify network throughput. The beacon chain, along with the shard chains, improves both the security and the scalability of the network. A host of other such features together guarantee that Harmony will be the blockchain of the future, providing connectivity for billions of people. Stephen Tse is an experienced engineer in cryptographic protocols, and his aim was to provide a decentralized, open and trustless blockchain platform for DeFi users globally. Tse involved 20 other members in creating the project, whose experience was diverse in areas such as machine learning, software development, artificial intelligence, blockchain technology and virtual reality. The team held consistent meetups in San Francisco, and with time the project started to gain the interest of multiple investors. Holders of the ONE token should swap their ERC ethereum or BEP-2 binance chain tokens for the coin on Harmony's blockchain if they want to be able to participate in staking and other network activities.
Harmony (ONE)
The Palo Alto, Calif. It comes as competing base layers like Avalanche, Fantom and others pony up large funds to reward projects in an increasingly competitive space. The foundation will distribute most of the remaining funds, which it has built up in a reserve fund from investors and current network participants through different-sized grants, rewards and investments. Small groups of network participants will vote on individual projects. Harmony is a proof-of-stake blockchain that claims to process transactions in two seconds at a low cost.
Harmony Protocol Review: Enabling Decentralisation at Scale
DSLA Protocol enables anyone to manage their exposure to third-party risk using Decentralized Service Level Agreements, peer-to-peer outsourcing contracts that can store and release cryptocurrency according to third-party service analytics. Read more…. Dear community, in an effort to bring our nascent developer community access to more technology ecosystems, and to empower more users and developers to tap into the risk management capabilities of DSLA Protocol, we are proud to announce that we have partnered with the Harmony core team to port DSLA Protocol to the Harmony blockchain network , and augment the experience of your cryptocurrency saving accounts staking , decentralized financial products DeFi and non-fungible tokens NFT! With this official partnership, the DSLA core development team is excited to expand on our past collaboration with a wide range of novel opportunities for all Harmony stakeholders. Soon after, DSLA Protocol will be deployed as smart contracts on the Harmony network, enabling Harmony network participants to trade risk with each other in virtually infinite scenarios, across the full Harmony ecosystem.
Harmony Has $300M for Projects Looking to Expand Beyond Ethereum
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harmony one visa partnership
Injective contributors have always strived towards the mission of enabling seamless access to limitless markets across distinct later one protocols. Injective has continued to surpass any other decentralized exchange in the crypto sector today by beginning to integrate popular layer one networks such as Binance Smart Chain BSC. Adding Harmony to the rapidly growing Injective network can allow users to permissionlessly access a number of new markets not available anywhere else. Looking ahead, these forms of interoperability can allow users to trade a number of new derivative products that utilize Harmony-based assets.
Poolz Obtains $1M Grant from Harmony to Boost Growth of Emerging DeFi Startups
RELATED VIDEO: Harmony/ONE Review/Partnerships \u0026 News!Harmony is a unique blockchain platform designed to facilitate the creation and use of decentralized applications DApps. The project aims to innovate decentralized applications by focusing on random state sharding, allowing the creation of blocks in seconds. Harmony ONE focuses mainly on processing speed and validation, as it seeks to revolutionize block creation. By introducing the sharding process, the company reduced node validation times significantly. While largely unknown, Harmony is a top-tier blockchain that competes favorably with the best in the industry.
How to buy Harmony (ONE) in New Zealand
With more than 4, mineable coins and tokens in existence, which, if any, are the most sustainable cryptocurrencies? Are you a Dogecoin fan? This is because there are so many parameters at play. Many much smaller cryptocurrencies, for instance, naturally have a far lower energy footprint because they involve far fewer daily transactions compared to Bitcoin. Scale them up, however, and they may be just as bad, if not worse than the cryptocurrency we currently love to hate. That said, some cryptocurrencies are inherently more energy efficient than Bitcoin. This is primarily because these currencies use ASIC-resistant algorithms that consume significantly more energy than should be expected relative to how much of the cryptocurrency market they represent.
This adds more tools to the Poolz arsenal and further increases the value-add for the projects selected for its Launchpad. Harmony is a third-generation blockchain network built for interoperability, scalability and speed. With full EVM compatibility and a natively-integrated bridge, Harmony is the perfect environment to launch Solidity-based dApps for regular users who cannot pay the exorbitant fees on Ethereum mainnet.
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