Harmony is a blockchain platform that aims to address the challenges of scalability and transaction speed faced by many existing blockchain networks moreHarmony is a blockchain platform that aims to address the challenges of scalability and transaction speed faced by many existing blockchain networks. The platform uses a sharding approach to divide the workload among different nodes, allowing for higher throughput and lower latency.
One of the potential benefits of Harmony is its ability to support decentralized applications with high volumes of transactions, such as those in the finance and gaming industries. This could lead to improved access to financial services for individuals who are currently underserved by traditional banking systems.
The native cryptocurrency of the Harmony network is the ONE token. It serves as the primary means of exchange for transactions and fees on the platform. ONE token holders can also participate in network governance and earn rewards for staking their tokens.
In addition, Harmony aims to create a more inclusive and democratic blockchain ecosystem by addressing issues such as inequality and centralization. By providing a more accessible and efficient infrastructure, Harmony hopes to facilitate the development of new decentralized applications and use cases.
Sources:
- "Harmony: Scaling Trust for Billions," Harmony Protocol (https://harmony.one/)
- "What is Harmony (ONE)? A Beginner's Guide," Blockonomi (https://blockonomi.com/harmony-one-guide/) (AI generated summary)
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