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Harmony Fundamental Analysis

Harmony Fundamental Analysis

Harmony (ONE) is a native token on the Harmony platform — a solution aimed to provide scalability for the blockchain developers, to give them tools to build and deploy their dApps. Harmony was founded in 2017 by Stephen Tze, who had previously worked for Microsoft, Google, and Apple.

To provide scalability, Harmony uses sharding — a technology splitting the network into segments, or shards. All of the shards can validate their own set of transactions simultaneously, thus improving speed. Moreover, this setup is secured using the modified Byzantine Fault Tolerance algorithm based on Effective Proof-of-Stake (EPoS) consensus protocol, unlike some other blockchain platforms that use sharding but employ Proof-of-Work. This also helps speed up block confirmation, resulting in transaction finality times of about 2 seconds.

As an additional security measure, the choice of nodes for the shards is made using a Verifiable Random Function, which makes it unpredictable. Therefore, the shards forming process is supposed to be resistant to collusion by malicious actors. There is also a re-sharding process in place, changing the configuration of nodes in the shards regularly and minimizing the possibility of corrupting a shard over time.

ONE token is used for staking by validators, to vote in the consensus, with penalties in place for the dishonest nodes. Honest validators also get rewards for their participation in securing the system.

Harmony Price Chart

ONE token price started growing in February 2021 on the wave of popularity of blockchain projects in general. During that month, Harmony’s price has grown from ~$0.01 to ~$0.03. Later that spring, there was even more explosive growth, with the price reaching an all-time high of $0.2233 in late March. After that, Harmony’s price has experienced some ups and downs, eventually reaching ~$0.05 in July.

During the price rally that started in mid-summer 2021, Harmony’s price managed to break $0.1 again. By the end of August, however, the price entered a new slump and has been hovering just below the $0.1 mark. At this point, Harmony (ONE) price predictions are not necessarily positive, although this may change in the future.

Harmony Price Chart

Harmony Technical Analysis

Despite the fact that 100% accurate technical analysis for Harmony cryptocurrency is hardly possible, on this advanced technical analysis tool by TradingView, you can see the real-time aggregated ONE buy-and-sell rating for the selected timeframe. The summary for ONE/USD is based on the most popular technical indicators — Moving Averages, Oscillators, and Pivots.

Summary

As it can be clear from the analysis cited above, Harmony (ONE) projections are rather contradictory. There is no universal consensus either about positive or negative future ONE price movements. Indeed, the future possible growth depends on various factors: announcements, new technological solutions of the Harmony projects, the crypto environment in general, legal position, and so on. We kindly remind you that before investing in any cryptocurrency, it is essential to do your own research (DYOR).

Disclaimer: This article should not be considered as offering trading recommendations. The cryptocurrency market suffers from high volatility and occasional arbitrary movements. Any investor should research multiple viewpoints and be familiar with all local regulations before committing to an investment.

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Harmony Price Prediction: Can Harmony Reach A New High of $0.25? was originally published in The Capital on Medium, where people are continuing the conversation by highlighting and responding to this story.

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