Harmony: ONE Update!! My Take On Its POTENTIAL!!

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Essential Videos

Previous Harmony Video https://youtu.be/wARoB6CvQbQ
Blockchain Domains Explained https://youtu.be/xyy6hUhLLg8
Why Cryptocurrency Tokenomics Are Important https://youtu.be/ftCaqG7wckg
ThorChain Cross-Chain DEX https://youtu.be/ebLYsKloOhU
Coinbase Listing Criteria https://youtu.be/GnI8-uxZPEg

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- TIMESTAMPS -
0:00 Intro
2:09 Harmony Recap
5:29 Harmony Updates
7:43 Harmony NFTs
9:23 Harmony Governance
11:37 Harmony ONE Price Analysis
14:09 Harmony Roadmap
16:24 Harmony Concerns And Hurdles
19:39 Outro

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️ Useful Links ️

► Harmony ONE Metamask Set Up: https://docs.harmony.one/home/network/wallets/browser-extensions-wallets...
► Harmony ONE Cross-Chain Bridge: https://bridge.harmony.one/
► Harmony Sushiswap Partnership: https://cointelegraph.com/news/sushiswap-to-deploy-full-suite-of-sushi-p...
► Harmony Terra Partnership: https://cointelegraph.com/news/terra-and-harmony-announce-defi-partnersh...
► Crazy.One Subdomain NFTs: https://medium.com/harmony-one/harmony-community-launches-crazy-one-the-...
► Harmony Governance Dashboard: https://gov.harmony.one/#/
► Harmony Roadmap 2021 H2: https://medium.com/harmony-one/interoperability-with-on-chain-bridges-an...
► Harmony Validators List: https://staking.harmony.one/validators/mainnet

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Harmony Recap

Although Harmony was inspired by other cryptocurrencies such as Ethereum, its blockchain was built from the ground up and is not a fork or carbon copy of another cryptocurrency

Harmony works similarly to how Ethereum 2.0 is going to work. In fact, you could say that Harmony is essentially a finished version of Ethereum’s next iteration

Harmony Updates

Back in March, the Harmony blockchain had just 50 HRC-20 tokens. Today, there are nearly 3700 HRC-20 tokens, and the most held of these tokens belong to Harmony’s own ecosystem

Another impressive adoption metric is the number of Harmony One Wallet browser extension downloads which has grown nearly tenfold since March

Harmony NFTs

Harmony’s real innovation is coming from its NFT ecosystem which centers around the daVinci NFT marketplace that launched in early April.
Harmony has seen about half a million dollars in NFT sales since that time, though I suspect most of that came from Harmony’s Crazy.One Subdomain NFT platform introduced in May

Harmony Governance

Governance has been the focal point of Harmony’s recent development with the first major milestone taking place in March. This is when Harmony released their all-in-one governance dashboard

To kickstart Harmony’s other DAOs, the Harmony foundation will be dividing 10 million dollars’ worth of ONE between all their treasuries. All of these allocated coins comes with lengthy vesting schedules

Price Analysis

Although Harmony’s ONE coin has taken a bit of a beating in the recent bear phase, ONE seems to pump almost every time we see a bit of positive price relief. In addition to a strong community base, I attribute ONE’s resiliency to its above average tokenomics

Harmony Roadmap

Stephen provided a sort of roadmap update in early May this year. In addition to flexing Harmony’s adoption metrics, he detailed some pretty ambitious products Harmony is hoping to roll out

The first is a non-custodial wallet that can be accessed and recovered using anything from an email to Google’s Authenticator app

The second product Harmony wants to produce is a DeFi protocol that provides an annual return of 20 percent per year on stable assets

The third product Stephen is hoping to see is a non-custodial cross chain bridge with token transfer times of less than 3 minutes

Harmony Correction and Concerns

Back in March I mentioned that Harmony had 1000 validators, with 250 validators on each of the 4 shards at any given time

At the time, I was under the impression that 640 of these validators were run by the community, with the reminder being run by the Harmony Foundation

According to Harmony’s staking Dashboard, there are just 109 active validator nodes.

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Disclaimer

The information contained herein is for informational purposes only. Nothing herein shall be construed to be financial legal or tax advice. The content of this video is solely the opinions of the speaker who is not a licensed financial advisor or registered investment advisor. Trading cryptocurrencies poses considerable risk of loss. The speaker does not guarantee any particular outcome.

#Harmony #ONE #crypto #staking #altcoin

The views or opinions expressed in the broadcasts are solely those of the individuals involved and do not necessarily represent those of INK Research and Canadian Insider.