Harmony is a sharding protocol with a trustless Ethereum bridge. Its purpose is to scale Ethereum application and cross chain finance.
Harmony has transcended the blockchain dilemma by bringing the best research to production. Sharding is proven to scale blockchains without compromising security and decentralization. We could soon start seeing an increase in ONE price.
Harmony divides the network nodesand blockchain states into shards, scaling linearly in all three aspects of machines, transactions and storage.
To prevent single shard attacks, there are sufficiently large number of nodes per shard and cryptographic randomness to re-shard regularly. Each shard has 250 nodes for strong security guarantee against Byzantine behaviors. Harmony uses Verifiable Delay Function (VDF) for unbiasable and unpredictable shard membership.
Harmony has innovated on the battle-tested Practical Byzantine Fault Tolerance (PBFT) for fast consensus of block transactions. Their Fast BFT (FBFT) leads to low transaction fees and 1-block-time finality in Harmony Mainnet.
They use Boneh–Lynn–Shacham (BLS) constant-sized signatures to commit blocks in a single round of consensus messages. Harmony achieves 2-second block time with view changes in production against adversarial or unavailable leaders.
Let us review ONE Price.
ONE/USD – Price Prediction
ONE was consolidating at the $0.0400 area for a long time. Once it broke out of this consolidation, we saw a rally towards $0.1084 before settling down at the support of $0.0769. ONE moved towards the 1.618 fib at $0.1890 and retraced back towards the 1 fib at $0.1462. As long as ONE stays above the 0.618 fib at $0.1222, we are likely to see a move towards $0.1890. Once this resistance gets cleared, ONE could target the upper fibs at $0.2583, $0.3275 and $0.3704. Failure to hold $0.1222 could lead to a drop towards the support area of $0.1084 and $0.0769.
ONE is currently trading at $0.1465 with a market cap of $1,347,970,714. Its 24 hour trading volume was $564,115,787.
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