Discover Harmony (ONE) with the LiteBit exchange!

Wed 19 Jan 2022 ▪ 16h43 ▪ 4 min read — by The CoinTribune Team

In these challenging times for the crypto market, it’s nice to look on the bright side of things. Indeed, it’s these kinds of trials and tribulations that usually spawn the best investment opportunities. Today, we invite you to discover the Harmony (ONE) project, available on the Litebit exchange. After showing a certain degree of resilience for several weeks, the project never ceased to amaze.

The Litebit exchange

Before going into the details of the Harmony project, it’s worth revisiting the Litebit exchange for those who don’t know it. Founded in the Netherlands in 2013, Litebit is a cryptocurrency broker. It allows you to trade and hold more than 60 cryptocurrencies. Not long ago, we put together a list of all the cryptocurrencies available on the exchange (45 at the time). The increase points at the growing vitality of the project and its willingness to provide a diverse range of products.

Also, the exchange has been approved by the Financial Markets Authority (AMF) since 2021. After obtaining the PSAN certification (Digital Asset Provider), Litebit became a fully regulated company. The platform plans to settle permanently in France and expand across Europe.

Harmony

But let’s get back to Harmony. The project offers a blockchain platform designed to boost the creation of decentralised applications (dApps). To that end, the network is based on an innovative technology called “sharding.” The article in the link will give you a more detailed description of this process. For now, just know that it allows for a drastic increase in the number of transactions on a blockchain network. Sharding distributes the workload across all nodes to lighten up each node’s individual load. As a testament to its efficiency, during the test phase, the Harmony network performed 118,000 transactions per second, each taking two seconds on average.

The goal of the project is simple: to offer high throughput with low latency at a lower cost. Conceived in 2018, Harmony was brought forth following its IDO (Initial DEX Offering) in May 2019 and fundraising of €18 million (~£15 million). Still growing strong in 2022 (which can’t be said about all of this year’s startups), the project is ambitious as ever. Harmony continues to develop by sticking to its core principles, and now supports multiple applications backed by the Ethereum blockchain.

The ONE token, fuel for the Harmony ecosystem

Additionally, the project’s native consensus uses Proof-of-Stake to keep the network safe. ONE, the governance token of the Harmony ecosystem, was designed with that goal in mind. It not only allows you to pay the minimum transaction fees to the network — holding ONE also lets you become a validator. You’ll need to hoard 10,000 ONEs and lock them up to obtain this status.

Finally, the project has shown extraordinary resilience in recent weeks. As the entire market is struggling after Bitcoin’s downfall from $69,000, Harmony and ONE are still going strong. See for yourselves:

Harmony price (ONE), source: TradingView

The coin’s performance points to the interest in the technology and the potential of the project among the community. Currently priced at $0.32, the token doesn’t look willing to stop there and even risks tickling its ATH. Naturally, you’ll need to do your own research before partaking in the project.

The diversity offered by the Litebit exchange is beyond doubt. Litebit has listed nearly 20 cryptocurrencies in 2 months and is constantly gaining traction. Have look at the project yourself and explore the features in detail. Also, note that Litebit has a mobile app, allowing you to keep tabs on the market at all times. 

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The CoinTribune Team

Founded in 2019, CoinTribune is made up of a range of different journalists and writers who are passionate about the blockchain and crypto. Our writers often wish to uphold the values of the blockchain by protecting their anonymity when posting.

DISCLAIMER

The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.

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