What is Harmony (ONE)?

Harmony (ONE) is the governance token of Harmony blockchain, a platform that aims to achieve scalability and decentralization. The ONE token can be utilized for transaction fees, governance, and staking on the Harmony consensus model. The platform was launched as part of the initial exchange offering (IEO) on the Binance Launchpad in May 2019. It was designed to facilitate the creation and use of decentralized applications (DApps) by focusing on random state sharding. With a motto of "decentralization at scale"", the Harmony platform emphasizes data sharing and the development of fungible token and non-fungible asset marketplaces. Stephen Tse is the founder of Harmony, and its native token, ONE, has a maximum supply of 12,600,000,000 tokens.

How does Harmony (ONE) work?

The Harmony platform uses random state sharding to establish scalability and decentralisation. It allows the network of Harmony to divide its database into small parts called shards. These shards run parallel but are validated by separate groups of stakeholders. Through this approach, Harmony runs four shards of its blockchain in parallel to reduce its latency by 1,000% and allow near-instantaneous transactions. A distributed randomness procedure is used by the consensus of Harmony to control the influence of its network validators by randomly assigning shards to them. A variant of BFT called Fast Byzantine Fault Tolerance (FBFT) is also a contributor in the Harmony network to process multiple transactions in parallel, increasing its speed.

The combination of distributed randomness procedure, adaptive proof of stake, FBFT and sharding gives security, scalability and easy verification to the Harmony platform.

The validators or stakeholders of Harmony deposit ONE token to get assigned to any of the Harmony network shards. These validators must update the copy of their assigned shards instead of the whole network and receive newly minted coins and a part of the transaction fees. The shards keep changing for the validators to keep them active and not too comfortable. Every shard of the Harmony network has around 250 validator spots, but this number can rise when scaling the network.

How to Buy Harmony (ONE ) in India?

There are many platforms where you can invest and trade Harmony (ONE) in India.

One such platform is Flitpay. To buy the Harmony (ONE) in INR, you have to sign up for the relevant application, where you will have to enter the required details and go through a small KYC verification process.

After the KYC approval, make sure you have correctly entered your bank details. Now, through the linked bank account, deposit the amount you want to buy the Harmony (ONE), and execute the Harmony (ONE) purchase.

You can instantly convert your INR to Harmony (ONE) and Harmony (ONE) to INR and withdraw your INR through bank transfers whenever you want.

Flitpay also keeps introducing timely rewards for its users.

How do I convert ONE to INR on Flitpay?

Buying and converting ONE directly on Flitpay is a task of a few clicks using the Flitpay OTC platform. If you have already made an ONE purchase on Flitpay and want it to convert into INR, all you need to do is; sell it on Flitpay, and you will receive the INR in return. If you have your ONE holding in another exchange, you will have to deposit your crypto on Flitpay and then execute the selling process to convert ONE into INR.

To learn; how to deposit ONE or any other crypto from another platform, refer to the link.

You can easily withdraw your converted INR through the instant bank withdrawal service provided by Flitpay in a breeze.

FAQs

What is Harmony (ONE)?
Harmony (ONE) is the governance token of Harmony blockchain based platform. It is used for various platform services of Harmony which address issues related to scalability as well as decentralization of other blockchains.

What is the Harmony (ONE) price in India?
Check out the current INR price of ONE tokens in India on Flitpay.

Which is the best platform to buy Harmony (ONE) in India?
The best crypto exchange in India to buy Harmony (ONE) or your favorite cryptocurrencies is Flitpay. Flitpay supports instant UPI and bank deposits and bank withdrawals with a minimum deposit and withdrawal limit of INR 100.

What are the Benefits of Harmony (ONE)?
Harmony platform has "decentralization at scale"" as its motto. It allows its network of Harmony to divide its database into small parts called shards. Each shard can run parallel with each other and requires a group of validators. This approach allows Harmony to reduce latency by 1,000% and produce near-instantaneous transactions.

Is it safe to invest in Harmony (ONE) in India?
Yes, investing and trading in Harmony (ONE) is Safe in India. Flitpay is one of India's most secure cryptocurrency exchanges to invest in ONE. It offers the most real-time prices and advanced investing features.

Is Harmony (ONE) a Good Investment?
Harmony performs beyond expectations in 2021. Its unique sharding and FBFT mechanism along with the intention to scale without compromising decentralization are worthy to keep an eye on as an investment. But cryptocurrencies can be highly volatile at times hence one needs to be careful while making any investment decision.