Harmony one crypto price prediction in 2022-2023 | Is it a good investment?
In this article, we will explain what Harmony is in the crypto world. We will explain its prediction for the coming years and how it works.
Harmony one prediction in 2022
The harmony price is forecast to reach $0.2562901 by the beginning of March 2022. The expected maximum price is $0.3203626, and the minimum is expected to be $0.2178465. Therefore, Te Harmony’s price prediction for the end of the month is $0.2562901.
Harmony one prediction in 2023
The price is forecasted to reach $0.2387387by by the beginning of 2023. The expected maxim price is $0.3510863.The harmony price prediction for the end of that month will be $0.3551712
What is Harmony?
Most people have no idea what is harmony crypto-us? It is the so-called cross-chain blockchain project. However, one of The best things about it is that one of its applications is the NFT. Harmony says that they have talented artists who have made $602,000 in their NFT art sales so far.
Harmony also states that its main net runs ETH apps with just two seconds of transaction speed and a hundred times lower gas fee. So besides it is a cross-chain, Harmony one coins blockchain is the Proof-of-stake. which means few things.
- You can not just mine it
- You can just take it with Guarda Wallet and get more and more tokens
- The blockchain is very fast
If we look on, technically, it is not the blockchain itself being fast; it is all about the transaction speed. Who loves the fast transaction speed? Everyone, what kind of question is that. Yes, it is a kind of business, so Harmony protocol is another gem in the crypto ocean that its corporate users can utilize.
History of Harmony
Harmony was founded in sunny California, USA, by some ex-FAANG* professionals. Their only objective was to change the industry by creating a new interoperable blockchain that would also solve the scalability issues of the current blockchains.
*FAANG is an acronym for Facebook, Apple, Netflix, Amazon, and Google.It first started as FANG-Facebook, Apple, Netflix, then Amazon was added. After that, such an acronym becomes very viral. Some expand it to include both Tesla and Microsoft. But the idea is that all top-tier American tech companies are meant by.
How does Harmony Cryptocurrency work?
The question that may be arising in most people’s mind is how Harmony work? Their main supports about four pieces of around 1000 nodes; dividing the nodes into the shards is sharding. The process of rearranging the nodes between shards is resharding.
The main goal of Harmony is to create an open network of nodes. It is designed to be operated and usually governed by a large community. They call this kind of community Pangaea. The same name had the united continent many million years ago. Americans and the other continents were parts of Pangaea back in the day.
So far, around 800 nodes are run by the community. Pangaea consists of volunteers and also the validators from more than 100 countries, Harmony states in its official documents.
Harmony Blockchain mentions on its official Websites about its key features
- Secure random shading
- Asynchronous cross-shard transactions
- Scalable networking infrastructure
- Effective and very fast consensus
- Effective Proof-of-Stake
Architecture scalability is powered by the networks sharding concept. It is applied to network communication and transaction validation and on the blockchain state. Harmony is fully scalable on all three blockchain aspects: transaction processing, storage, and network.
Harmony is run under the Proof-of-Stake consensus. Such consensus is energy-efficient and low-cost for node runners. They call it very effective Proof-of-stake. The effectiveness goes because of the sharding focus of its mechanism. This is introduced to stimulate stake distribution to be even more decentralized.
One of the main differences of Epos compared to a classical Pos is the obligatory ratio between the staking amount of a validator and the number of nodes he runs. The more tokens a validator is staking-the more nodes it has to run. It sounds like some European countries have very fine policies. The more citizens’ salaries, the bigger the fine if he disobeys the law.
A shard is a synonym for a piece or apart. By sharding, Harmony means dividing its nodes into equal groups of four. Moreover, the exact nodes within shards are regularly and randomly mixed. This number is pretty much set exactly to increase the system’s security and add even more scalability.
The randomness used in the sharding is also obtained with a distributed randomness generation algorithm that is unpredictable, unbiased, and scalable. Harmony rearranges the network in a very non-interruptive manner by using the so-called Cuckoo Rule just to prevent the slowly adaptive byzantine adversaries.
Harmony’s consensus algorithm is also called Fast Byzantine Fault Tolerance or EBIT. It is a highly effective and speedy consensus algorithm built upon the cornerstone for the distributed system and consensus research for the past 30 years.
Harmony’s FBFT can also confirm the blocks within 2 seconds and thanks to the adoption of aggregated BLS signatures. In addition, FBFT is also very highly optimized in-network message processing and block proposal pipelining so that consensus can also scale to hundreds of validators simultaneously.
Harmony One coin also supports cross-shard transactions to achieve the composability of the assets and more smart contracts between shards. They are designed as a receipt-based asynchronous cross-shard communication mechanism that achieves eventual consistency. So no double-spending is possible even between shards.
Is harmony crypto a good investment
Although it still needs a lot of work, the harmony project has solved the dilemma of poor scaling and interoperability. It offers the DApp developers a very good platform to scale up their applications and transactions. Harmony aims to become a top crypto network known for its speed and effectiveness, and it’s currently on track to achieve that. The platform also stays true to its promise of inexpensive gas and transaction fee.
In this article, we have explained what Harmony one is? How it also works. We also explained the history of Harmony. We also explained deep shading and FBFT consensus. Is harmony crypto a good investment? We recommend you do some research of your own to get the best results of your choice.