Harmony (ONE), a decentralized program used for dApps’ creation, relies on an innovative random state sharding technology for facilitating operations’ completion.
What is ONE?
The sustainable development of dApps’ segment largely depends on the ability to minimize nodes’ validation time. Harmony offers a new approach to blocks’ creation and development by consistently applying the sharding process. Although the validation period has significantly reduced, its reliability meets the highest industry standards. Another platform’s innovation is the Verifiable Random Function that utilizes complex random algorithms for forming shard members in an independent and unbiased manner. Harmony uses the effective proof-of-stake algorithm that allows staking from hundreds of validators simultaneously. The higher scalability and enhanced functionality of Harmony’s platform constitute the major advantages for current and future users. The Harmony Grants program creates additional incentives for dApps’ developers willing to participate in the platform’s improvement.
ONE’s current market price is $0.1521 with the circulating supply of 11.83 billion tokens. The platform’s developers have issued such a high market supply to achieve the higher scalability and potential adoption by holders and dApps’ users. Moreover, ONE does not have a predetermined maximum supply, making it fully adjustable to the level of consumer demand and overall market conditions. Harmony’s current capitalization is $1.8 billion, making it the 56th largest cryptocurrency. ONE has reached the all-time-high price level in January of 2022, demonstrating a high potential for growth even during the crypto market recession. Harmony’s developers continue improving its cross-chain infrastructure in an attempt to maximize the platform’s functionality and attract additional users.
Investing in ONE: Pros and Cons
There are several major factors that confirm ONE’s high market potential in the long term. They include the rapid development of the dApps’ segment; the recognition of sharding benefits; and the demand for more scalable solutions. Harmony is successful in providing the higher functionality for its users as compared with the major alternative platforms. Moreover, Harmony is not highly dependent on the overall market trends, making it an effective crypto asset to be considered for making diversified portfolios. Thus, ONE may be one of the most promising crypto assets for long-term investments. The short-term performance of the analyzed altcoin depends on its ability to overcome the major resistance levels.
With the strong support level at the price of $0.12, ONE demonstrates the asset’s appreciation in the recent weeks. The first major resistance level at the price of $0.12 is important for accumulating additional reserves and attracting long-term holders who will be able to maintain the token’s capitalization. However, the major resistance level at $0.24 is crucial for indicating the token’s ability to test its historical maximums in the following months. Investors can reliably open long positions after ONE’s price exceeds $0.24 with the take-profit goal of about $0.35. The closer analysis of the overall dApps’ segment and the price dynamics of other proof-of-stake projects may be helpful for overcoming the major obstacles and reaching the maximum investment returns.
Source: https://crypto.news/harmony-one-optimizing-dapps-creation/