Instead of competing with Ethereum, Harmony collaborates with it.
Harmony employs a technology known as sharding to divide the blockchain's network into parallel chains, or shards, in order to increase the network's speed and efficiency at a cheaper cost.
Transactions on the platform are sorted out in less than three seconds thanks to this method, and they cost up to 100 times less than conventional blockchain transactions.
Harmony operates a proof of stake (PoS) mechanism for its governance token, called ONE PoS is less expensive, consumes less energy.
Harmony’s system is better, faster and more transparent than most other systems for verifying transactions.
Harmony ( ONE ) Future Goals
Harmony is also planning to launch a DeFi token, which will pay a 20% annual interest rate on stablecoins.
Harmony's last strategy is to provide a bridge-like platform that facilitates transfers between two separate protocols in under three minutes. Harmony has joined the list of cryptocurrency alternatives vying for a lower-fee NFT marketplace.
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