The crypto space is continuously evolving, and crypto projects keep emerging to serve different needs in the crypto space. One such project is Harmony ONE. This post will examine the key characteristics of this altcoin, as well as its value proposition and—most importantly—the anticipated trajectory of its price in the upcoming years.
What is Harmony ONE?
Harmony, also known as harmony ONE is a layer-2 protocol blockchain platform built on Ethereum designed to enable developers to create, deploy, and use decentralized applications (dApps).
It was created in 2017 by Stephen Tse, an experienced cryptographer of cryptographic protocols and type theory. The Harmony Protocol was then launched in 2018 after raising over $20 million. The Harmony team has 12 members, most having worked for Microsoft, Apple, Google, and Amazon.
How does Harmony work?
Harmony One works by employing several key technologies and mechanisms that address the security and scalability challenges faced by many blockchains.
Sharding
One of the main ways Harmony aims to do this is by using a sharding approach, which involves dividing a network into smaller units called shards (blocks or nodes).
Each of the shards is governed by a large community known as a Pangaea, which has validators from over 100 countries. Each node is also capable of processing its own transactions. This enables the network to significantly increase its throughput and efficiency, which significantly cuts down the validation time.
Harmony’s sharding approach is a secure random one that ensures the shard committees and validators are assigned to shards randomly. It uses the distributed randomness generation (DRG) protocol which involves both VRF (Verifiable Random Function) and VDF (Verifiable Delay Function).
This random sharding is unbiased and variable, helping to avoid single-shard attacks. Additionally, it is scalable to a large number of participants.
Finally, Harmony enables cross-shard transactions. Users can interact with dApps and seamlessly transfer assets across various shards. This is done using a protocol known as the Fast Byzantine Agreement (FBA). The FBA ensures consistency and finality of transactions across shards.
Harmony’s introduction of the cross-chain non-fungible-token (NFT) bridge in 2021 facilitates the transfer of ERC721/ERC1155 tokens from Ethereum to Harmony. The bridge would also enable network users to mint NFTs on the network and transfer them between chains.
Consensus Mechanism
On Harmony’s mainnet, the Effective Proof-of-stake (EPoS), a unique proof-of-stake (POS) consensus that promotes security and decentralization, is also employed. It promotes network participation by enabling validators to stake their cryptocurrency assets concurrently and get rewards.
The goals of the EPoS are to improve scalability, lengthen processing times, and reduce centralization. Additionally, validators and delegators receive block rewards as compensation for maintaining network security and taking part in network activities.
Governance and staking
Binance was the first exchange to host ONE. ONE, the native cryptocurrency of Harmony, has multiple uses inside the network’s ecosystem. These consist of handling different fees like transaction, gas, and storage costs, as well as governance and staking.
Harmony Price Prediction
Harmony Overview
Project name: Harmony
Stock Symbol: ONE
Current Price: $0.01442
Circulating supply: 13,791,679,435
Total supply: 14,188,879,435
Fully diluted market cap: $204,330,726
Official Website: https://harmony.one/
Harmony Price Prediction
When looking at the historical price movements of Harmony and the BTC halving cycles we can assume the following to be Harmony’s price prediction for each year up until 2030.
| Year | Yearly Low | Yearly High |
|---|---|---|
| 2025 | $ 0.013959 | $ 0.033414 |
| 2026 | $ 0.012999 | $ 0.033895 |
| 2027 | $ 0.012552 | $ 0.013658 |
| 2028 | $ 0.011965 | $ 0.013250 |
| 2029 | $ 0.012445 | $ 0.115218 |
| 2030 | $ 0.005570 | $ 0.117804 |
Harmony price prediction 2024
Harmony is currently available for $0.01442. Various technical indications indicate that the fear and greed index is trending toward greed, while the market sentiment is now neutral. The Fear & Greed Index is a useful tool that uses several market and investment indicators, including 30- and 90-day volatility, trading volume, social media activity, and Google Trends data. In the last 30 days, Harmony has recorded 14/30 green days and has a 6.80% price volatility over the last 30 days.
Harmony price prediction 2025
Compared to today’s prices, the Harmony price prediction for 2025 is expected to move between $ 0.012552 on the lower end and $ 0.033414 on the high end.
Harmony price prediction 2027
The Harmony price prediction for 2027 is expected to oscillate between $ 0.013959 on the lower end and $ 0.013658 on the high end.
Harmony price prediction 2030
The Harmony price prediction for 2030 is currently between $ 0.005570 on the lower end and $ 0.117804 on the high end. Harmony could gain over 700 percent by 2030 if it reaches the upper price target.
Will Harmony reach $1?
Harmony One has a long way to go before it reaches the $1 mark. By 2030, its price will be $ 0.117804 on the higher end. Therefore, the coin will need to rise by almost 7,000 percent if it is to get to $1.
Factors affecting the price of Harmony
Similar to other crypto assets, Harmony’s prices are mainly driven by supply and demand, which is influenced by different events like protocol updates, hard forks, blockchain regulations, crypto exchange hacks, activities of crypto whales, and various real-world events.
These events can significantly change the price of an asset in a short time and monitoring the market to know the sentiment will help you make better decisions concerning your Harmony one asset.
Historical Performance of Harmony One: Trends and Analysis
When Harmony One was first introduced, its market capitalization stood at just $18 million. However, by the end of 2020, it had grown to over $100 million. Significant price fluctuations have been observed over the years, but the overall trend has been upward. In 2021, Harmony One reached its highest market capitalization of $1.2 billion, demonstrating its potential to be a significant player in the cryptocurrency market. The team behind the cryptocurrency has been working on enhancing the network’s scalability, which has led to a growth in the number of users, which has further driven the price of Harmony One.
| Year | Min Price | Avg Price | Max Price |
|---|---|---|---|
| 2023 | $0,030 | $0,031 | $0,035 |
| 2024 | $0,045 | $0,046 | $0,053 |
| 2025 | $0,064 | $0,066 | $0,078 |
| 2026 | $0,090 | $0,093 | $0,11 |
| 2027 | $0,12 | $0,13 | $0,15 |
| 2028 | $0,18 | $0,19 | $0,20 |
| 2029 | $0,27 | $0,30 | $0,32 |
| 2030 | $0,37 | $0,39 | $0,46 |
| 2031 | $0,55 | $0,57 | $0,66 |
| 2032 | $0,82 | $0,82 | $0,95 |
Conclusion
Accurate prediction of cryptocurrencies can be difficult since these prices are influenced by a myriad of factors including market sentiment, technological advancements within a blockchain, investor speculation, political developments, and the overall economic environment.
This makes the price predictions highly speculative and one should approach these predictions with caution rather than absolute. If you are hoping to invest, always conduct thorough research and consider your own risk tolerance because any investment has risk attached to it. You can also diversify and practice various risk management strategies to minimize any losses.
Disclaimer: Investing can be quite a wild ride – especially when you don’t know the terrain! To keep things from getting too rocky, take some time beforehand to get familiar with all of the risks involved. Our site is here to up your investor game by providing all available intel about platforms and trends, but we don’t take responsibility nor can we be held accountable as advisors. That being said, it’s still important for you to make educated decisions that match what works best for YOU – just remember: no amount of savvy will guarantee success or protect against loss so invest money you can spare.
