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Harmony (ONE): Price Updates, Recent Developments, Future Events, Community

  • Harmony is a blockchain project designed for the creation and use of decentralized applications (dApps).
  • Harmony’s Horizon Bridge currently transfers assets to Ethereum and BinanceChain, with new support for Pocket Network’s RPC node runners.
  • Q4 of 2021 will be busy for Harmony, with plans already outlined for a Trustless Ethereum Bridge, Bitcoin Bridge, and a Chainlink Mainnet.
  • Amidst the activity on the network, Harmony (ONE) has hit a new ATH of $0.2655.

Harmony stands out among blockchains, focusing on processing speed and validation time. The project’s mainnet is capable of handling an average of 2,000 transactions per second (TPS), but can reach a maximum of 24,000 tps.

By introducing a unique sharding process, Harmony has reduced node validation times significantly. In addition, Harmony is growing popular among developers as it supports the easy creation of decentralized applications (dApps) with its advanced technology. So, how has Harmony performed in recent times?

Recent Developments

Harmony has been busy in 2021, with numerous integrations, developments and partnerships. Just days after releasing a bustling development roadmap, Harmony announced the release of Mainnet 4.3.0.

The network upgrade brings a mandatory upgrade from mainnet epoch 725. Mainnet 4.3.0 has reduced internal voting power from 60% to 49%, and increased external nodes from 800 to 900. The update also brought the SHA3-256 hard fork activation block to the mainnet/testnet.

Harmony has grown exponentially so far in 2021. Its Horizon Bridge currently transfers assets to Ethereum and BinanceChain, while the Terra money shuttle bridge on Harmony has already transferred over $1M USDT.

Continuing its quest for mass adoption, Harmony has integrated the Pocket Network into its ecosystem. On October 15th, Harmony announced that its Shard 0 is now supported by Pocket Network’s global network of RPC node runners.

In addition, Harmony will be integrating the Archival feature in the upcoming weeks. The Pocket Network is built for dApps that use cost-efficient economics to coordinate and distribute data at scale, enabling seamless interactions between blockchains and applications.

In August, to its goal of mass adoption, Harmony launched a $1 Million Hackathon to allow Web 3.0 and Web 2.0 developers to get together and build exciting apps, protocols, and tools. Developers have until October 20th to submit their entries for the $50K prize pool offered by Harmony.

Future Events

As per its busy development roadmap, Harmony has revealed its current work on the trustless Ethereum Bridge, Chainlink Mainnet, and a Bitcoin Bridge. Alongside a cross-chain NFT Bridge, these three network bridges are slated to launch on the Harmony Testnet before the end of October.

For November, Harmony plans to launch the Polygon Bridge and Cross-Chain API on its testnet on the 15th,and the ‘Streaming Sync’ & ‘Fast Sync’ features on November 30th.

The Harmony team has also revealed that it is working to integrate its 1Wallet with ApplePay and bank wires. However, there were few details as to what that would actually mean.

Harmony has scheduled their ‘ONE World conference for October 18th. At the community meet up, the Harmony team will explain how its technology can be used to scale DAOs (decentralized autonomous organizations), decentralized finance, and NFTs.

Expanding its reach, Harmony will be working with the interoperable protocol, Composable Finance, to integrate its protocol into the Layer 2-Layer 2 Bridge cross-layer infrastructure of Composable Finance.

Although there is not yet a fixed time for the integration, upon completion, Harmony’s infrastructure and projects will be able to both seamlessly send and receive data from all the L2 networks of Composable Finance.

WePiggy has announced that it will be joining the Harmony ecosystem. WePiggy will be looking to integrate its non-custodial crypto-asset lending protocol with Harmony’s open and fast blockchain to build up Harmony’s DeFi ecosystem.

Price Updates

After the Harmony team released its development roadmap for Q4, Harmony (ONE) went on a major bull run, setting a new all-time high in the process. On October 10th, ONE was the biggest gainer in the top 100 cryptos, gaining over 15% in value to peak at $0.2655. 

Over the following days, ONE retraced to as low as $0.2069. Harmony (ONE) is currently trading at $0.2257, gaining 3.74% over the 24 hours prior to this writing. Harmony is currently ranked as the 58th largest crypto with a $2.4 billion market cap.

The 30 day price chart for Harmony (ONE). Source: Tradingview

On The Flipside

  • While the technology of Harmony sets it apart from most blockchain projects, the network remains vastly underutilized.
  • Projects like Solana, Polkadot, Kusama, THORChain, and Chainlink occupy larger portions of the market than Harmony at this time.

Community

Technologically advanced projects like Harmony are typically characterized by fast-growing communities. However, what sets Harmony apart is its community of dedicated members. 

The project also has a respectable following on Social Media, with over 238K Followers on Twitter, 35.2K members on its Reddit, 30.7K members on Telegram, and 13.6K subscribers on YouTube.

Members of the community refer to themselves as Harmonauts, from whom the project is constantly receiving praise. One user, @Prabhat78466871 wrote;

Harmonauts are also very bullish about the project, as @OneDoge86 wrote on Twitter;

After the roadmap was released, @CheekyCrypto wrote;

Why You Should Care?

Focusing mainly on processing speed and validation, Harmony aims to revolutionize block creation. The already fast-growing project could receive a significant boost if it completes the majority of the projects on its Q4 roadmap.

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    This article is for information purposes only and should not be considered trading or investment advice. Nothing herein shall be construed to be financial legal or tax advice. Trading Forex, cryptocurrencies, and CFDs poses a considerable risk of loss

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    Author

    Milko Trajcevski has been in the crypto world for years, and as such has gathered both a skill for writing as well as a native prowess when it comes to understanding everything that occurs within that world. Through skilled writing and determination, he covers articles about cryptocurrency, tokens, blockchain, crypto-asset regulations, crypto wallets, exchanges, liquidity, DApps, forks, mining, security, and blockchain technologies. He is a professional with a track record of proven expertise within the crypto space.