{"id":182035,"date":"2021-02-18T22:12:37","date_gmt":"2021-02-18T19:12:37","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/harmony-one-gains-230-after-ethereum-network-integration\/"},"modified":"2021-02-18T22:12:37","modified_gmt":"2021-02-18T19:12:37","slug":"harmony-one-gains-230-after-ethereum-network-integration","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/harmony-one-gains-230-after-ethereum-network-integration\/","title":{"rendered":"# Harmony (ONE) gains 230% after Ethereum network integration"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_84 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a2a2485304c9\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a2a2485304c9\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/harmony-one-gains-230-after-ethereum-network-integration\/#Ethereum_compatibility_created_more_upside\" >Ethereum compatibility created more upside<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/harmony-one-gains-230-after-ethereum-network-integration\/#Further_success_hinges_on_Harmonys_ambitious_roadmap\" >Further success hinges on Harmony&#8217;s ambitious roadmap<\/a><\/li><\/ul><\/nav><\/div>\n<p>&#8220;<strong># Harmony (ONE) gains 230% after Ethereum network integration <\/strong>&#8221;<\/p>\n<div class=\"post-content\" data-v-5a136f3a>Since the start of February, Harmony (ONE) has rallied by 230% and while the proof-of-stake smart contract platform benefited from Ethereum\u2019s skyrocketing gas fees, the recent meteoric rise <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>ears to be driven by more fundamental factors.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-02\/cead3fd7-a594-4b21-825a-4f3923e1e0d9.png\" alt=\"\" title=\"\"><figcaption style=\"text-align: center;\"><em>Harmony (ONE), ATOM, SOL, NEAR, OMG at Binance. Source: TradingView<\/em><\/figcaption><\/figure>\n<p>Although other scaling-focused solutions such as Cosmos (<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coin360.com\/coin\/cosmos-atom\">ATOM<\/a>), Solana (<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coin360.com\/coin\/solana-sol*\">SOL<\/a>), <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coin360.com\/coin\/near-protocol-near\">NEAR, <\/a>and <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coin360.com\/coin\/omisego-omg\">OMG<\/a> also rallied during the same time period, Harmony&#8217;s performance stands out. <\/p>\n<p>Harmony is a sharding protocol with a trustless Ethereum bridge that separates the chain into segments that process transactions and store data in parallel. It&#8217;s considered a layer-2 solution as it splits both the nodes and blockchain states into shards. This means the network can scale linearly.<\/p>\n<p>Each shard has 250 nodes to guarantee cryptographic randomness and by using a Practical Byzantine Fault Tolerance consensus, the network maintains low transaction fees and single block final confirmation.<\/p>\n<p>Harmony\u2019s mainnet went live in June 2019 and currently, it offers staking and delegation mechanisms. Annual issuance is capped at 3%, while transaction fees are burnt to achieve near-zero inflation as network usage increases.<\/p>\n<p>Compared to its competitors, Harmony is still in a fledgling stage as its market capitalization stands at $250 million. This pales in comparison with Cosmos, Solana and NEAR Protocol which have respective market caps at $5 billion, $2.2 billion and $1.26 billion. <\/p>\n<p>Although its market cap may be small, Harmony already has 640 community-run nodes and this is a strong indication that adoption is taking place. While some competitors struggle to develop functional decentralized finance (DeFi) applications, Harmony already has more than three in place. <\/p>\n<p>Among these are a cross-asset DEX, UnifyProtocol, and a portfolio balance DApp called SeeSwap. Harmony also supports a DApp-based prediction market called SeeMarket, and LMA, which is a <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/lma-art-gallery.com\/\">non-fungible token art gallery<\/a>.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-02\/c8ed9ef8-5d25-4092-9a32-785b10ecefab.png\" alt=\"\" title=\"\"><figcaption style=\"text-align: center;\"><em>Weekly DEX volumes (USD). Source: Dune Analytics<\/em><\/figcaption><\/figure>\n<p>Considering the staggering DEX volume growth, which surpassed $14 billion, there seems to be enough room for scaling solutions capable of handling DeFi trades.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Ethereum_compatibility_created_more_upside\"><\/span>Ethereum compatibility created more upside<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>On Feb. 4, Harmony announced <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/medium.com\/harmony-one\/launching-full-ethereum-compatibility-on-harmony-e181ed3c6a24\">full Ethereum compatibility<\/a>\u00a0after the developers were able to port their ether.js or web3.js applications to Harmony. As this occurred, Metamask also became available for asset transactions on Harmony.<\/p>\n<p>On Feb. 5, Blits Labs announced a mainnet beta version of a <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/medium.com\/blits-labs\/the-cross-chain-loans-mainnet-beta-is-live-5c8717ee663d\">cross-chain lending marketplace<\/a> between Harmony and Ethereum. The protocol allows users to collateralize their Ether to take out a loan on Harmony.<\/p>\n<p>On Feb. 11, Harmony announced a <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/medium.com\/harmony-one\/api3-partnership-and-integration-with-harmony-44924187d552\">partnership with API3<\/a> to natively integrate decentralized API or dAPI. This is expected to provide reliable, transparent, and decentralized data.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Further_success_hinges_on_Harmonys_ambitious_roadmap\"><\/span>Further success hinges on Harmony&#8217;s ambitious roadmap<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Harmony\u2019s roadmap includes asset-bridging with the Bitcoin network and cross-chain communication. Decentralization is another area that remains underdeveloped, as external validators need to gain relevance.<\/p>\n<p>As for network security, plans include re-sharding for single-shard attack prevention and Harmony plans to add \u201cFast Sync\u201d capabilities to improve network performance.<\/p>\n<p>While the roadmap is rather ambitious, there seem to be strong prospects for the project judging by the recent deliveries and the ecosystem&#8217;s accelerated growth.<\/p>\n<p><em>The views and opinions expressed here are solely those of the <\/em><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/noshitcoins\"><em>autho<\/em><em>r<\/em><\/a><em> and do not necessarily reflect the views of Cointelegraph. Every investment and trading move involves risk. You should conduct your own research when making a decision.<\/em><\/p>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/div>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/harmony-one-gains-230-after-ethereum-network-integration\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;# Harmony (ONE) gains 230% after Ethereum network integration &#8221; Since the start of February, Harmony (ONE) has rallied by 230% and while the proof-of-stake smart contract platform benefited from Ethereum\u2019s skyrocketing gas fees, the recent meteoric rise appears to be driven by more fundamental factors. Harmony (ONE), ATOM, SOL, NEAR, OMG at Binance. Source:&#8230;<\/p>\n","protected":false},"author":1,"featured_media":182036,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjEtMDIvODlmNjg4ZmMtMjVmZi00NDJmLTg0OGMtMDA3YmM2NjRmYTEzLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74867,88119,74863,74868,74891,74876,76341,73785],"class_list":["post-182035","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-altcoin","tag-altcoin-watch","tag-cryptocurrencies","tag-defi","tag-ethereum","tag-proof-of-stake","tag-scalability","tag-markets"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/182035","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=182035"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/182035\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/182036"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=182035"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=182035"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=182035"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}