Harmony (ONE) Price

Harmony (ONE) is a blockchain platform designed to facilitate the creation and use of decentralised applications (DApps). The network focuses on random state sharding, which allows for creating blocks in seconds while improving network scalability without compromising security or decentralisation. Next to that, Harmony introduces a new version of the proof-of-stake (PoS) consensus, called effective proof-of-stake (EPoS), a method that Harmony claims to reduce centralisation and distribute rewards fairly to thousands of validators. Compared to proof-of-work (PoW) consensus mechanisms, EPoS is designed for faster processing times and improved scalability. The token performs multiple utility functions within the ecosystem, including governance of the platform.