If you have been following the crypto markets lately, you would have observed much volatility within the markets.
Among this volatility, however, a group of blockchains have held their own. So much so that people in the crypto communities have nicknamed them: FOAN (Fantom, One, Atom, Near).
Among the quartet, we will be diving deeper into one that I personally find most underappreciated.
In this article, we will explore more about this blockchain, and how you can get started in buying and transferring its native ONE tokens as well.
Introduction to Harmony Blockchain
Harmony’s recent claim to fame is DeFi Kingdoms, one of the most popular crypto play-to-earn games currently. Harmony is a Proof-of-Stake smart contract platform that is Ethereum Virtual Machine (EVM)-compatible.
It is purported to have solved the blockchain trilemma of decentralization-security-scalability with its sharding features.
This draws many parallels to the upcoming Ethereum 2.0 upgrade, which is going to be Proof-of-Stake and have sharding as well.
Harmony is fast, with a two-second finality time. It is also really cheap to use, with practically zero fees.
Harmony is also building towards an interoperable multi-chain world, with trustless cross-chain bridges across BSC, Ethereum, Terra, and more to come.
With an approximate US$2.1 billion market cap, Harmony is currently sitting at rank #57 among all cryptocurrencies at the time of this writing.
You can learn more about Harmony in our guide here.
Where can I buy Harmony One tokens?
Harmony One tokens are available for purchase across many of the major centralised exchanges. This includes Binance, Crypto.com, Kucoin, Huobi, Gate.io, and more.
Among decentralised exchanges outside of Harmony, you can also purchase them through PancakeSwap.
Harmony also has many bridges across chains, such as the Horizon bridge (bridging across BSC and Ethereum), and the Terra bridge.
You can easily bridge tokens over to Harmony to exchange for ONE tokens natively on Harmony. Do note that you will need a small number of ONE tokens for gas fees.
Some notable decentralised exchanges on Harmony include Defi Kingdoms, ViperSwap and SushiSwap.
How to transfer ONE tokens to my wallet?
To use your ONE tokens, you can use Metamask, since Harmony is EVM compatible. However, you will need to first set up your custom RPC endpoint.
Simply go to your Metamask, click on the network you are connected to and then select ‘Add Network’ or ‘Custom RPC’.
Next, fill in the Harmony network’s endpoint information. You can choose between any of these 4 shards:
The example below shows the configuration that needs to be done to connect to Harmony Mainnet on Shard 0:
Click on the “Save” button and your configuration should be done!
If you want to stake your Harmony ONE tokens, however, you should create a Harmony One wallet instead, and transfer your ONE tokens over. No additional configuration is necessary.
If you have never bought any ONE tokens or explored the Harmony ecosystem, this might just be your sign to do so.
With strong scaling capabilities, super low fees, fast transactions, as well as cross chain interoperability, the future is bright for Harmony.
Featured Image Credit: Altcoin Buzz