Layer 2 protocol Harmony (ONE) gets the attention of the host of popular crypto channel Coin Bureau. Of course, saying that the mid-cap Ethereum competitor is ready to spike before the year ends.
So, Harmony – ONE is a blockchain for powering decentralize economies by helping users. More so, to build marketplaces for both fungible and non-fungible digital assets. Also, Guy then notes the project is reminiscent of Ethereum 2.0, and highlights the speed of its network.
“Harmony, ONE looks like Ethereum 2.0 under the hood…”
“This is because Harmony leverages the Ethereum Virtual Machine (EVM) for smart…”
“contracts and uses a sharded proof-of-stake blockchain consisting of four shards…”
“Each shard can process up to 500 transactions per second,…”
“meaning Harmony currently process around 2000 transactions per second, with a transaction finality of 2 seconds.”
Furthermore, The analyst also explains the deflationary nature of Harmony’s ONE coin.
“Apart from staking, the ONE coin is used for governance and to pay for transaction fees…”
“When it comes to transaction fees, all the coins used to pay for transaction fees on the…”
“Harmony blockchain are burned. However, it is not deflationary…”
“This is because a fixed supply of 441 million ONE coins are minted every year, and…”
“Its transaction fee burns are designed so they only burn the ONE coins that would otherwise be minted.”
Lastly, because of solid fundamentals and tokenomics. Then, the analyst thinks ONE can easily reach new all-time highs in the coming months.
“… ONE coin should have an easier time reaching new all-time highs…”
“And my long-term technical analysis suggests it could hit $0.50 later this year or early next year.”