The value of cryptocurrencies correlates with the popularity of their blockchains. Those networks which have proven their reliability and practicality manage to attract thousands of investors, while those lacking any actual application fail.
Harmony is a blockchain that, on numerous occasions, has demonstrated its functionality and importance for the decentralized economy of the future. ONE, the native token of Harmony, has a plethora of benefits for companies that accept it.
And CoinsKid creates videos covering various crypto news. How this is relevant in this article – read below!
Key Points
- The Harmony blockchain provides unparalleled security, scalability, and decentralization.
- ONE crypto has low fees and two-second block finality.
- CoinsKid accepts donations in Harmony crypto via a branded donation link.
- NOWPayments will assist you in deploying your ONE payments gateway.
About Harmony
Harmony is an innovative network that utilizes a whole set of advanced technological solutions to bring scalability and decentralization to blockchain. The launch of Harmony in 2019 indicated a new milestone in the crypto world since the blockchain embraced sharding to guarantee the security of its network. Although sharding was not initially created by Harmony, the blockchain perfected the technique and took it to the next level. Essentially sharding constitutes a way of optimizing the mechanics of a blockchain. Harmony’s approach involves a beacon chain and several shard chains which process transactions concurrently. As a result, the Harmony network manages to attain incredible transaction speeds and finality.
Additionally, Harmony relies on a number of other essential components, which make it one of the best networks in the industry. Harmony employs a Proof-of-Stake consensus protocol which is much more energy-efficient than Proof-of-Work. Harmony also implemented an adaptive-thresholded PoS which means that the sum of tokens required for staking varies in a way to prevent hackers from concentrating their power in one shard.
CoinsKid & ONE
CoinsKid YouTube channel covers all things with crypto, and comes out with various video on Harmony ONE and its price predictions and future.
“Harmony ONE will melt faces it’s what it always does!”
CoinsKid
Recently, CoinsKid has created a branded donation link using NOWPayments and accepts donations in ONE from his fans, thus not only exploring Harmony but also using it.
ONE Token
The ONE coin, as mentioned above, is the native currency of the Harmony blockchain. Therefore, ONE has a long list of functions that it performs on the network. ONE is used for staking in order to generate rewards and maintain security. Staking ensures that the whole system is running smoothly and seamlessly. ONE is also the primary medium for paying transaction fees on the network. When staking ONE, owners of the coins get a chance to govern the network by proposing their changes and voting on the ones proposed by others. The highest price that ONE token has ever got to was $0.2, which is not much but taking into consideration the large supply of the coin, it is quite a solid value.
Harmony Coin Advantages
Eco-Friendliness
The trend towards a conscious use of energy incentivizes many companies to make their operations less intensive on the environment. The problem of numerous cryptocurrencies and especially Bitcoin, is their utilization of the PoW consensus, which requires kilowatts of power to be spent on one transaction. Obviously, there are people, including Elon Musk, who are not happy about such a wasteful use of resources which is out of line with modern environmental policies. Harmony, on the other hand, exists in complete harmony with the environment since it runs on the Proof-of-Stake protocol, which does not need massive amounts of power. Thus, companies accepting ONE tokens are able to radically reduce their impact on the environment.
Speed of Transactions
Sharding was chosen by Harmony to achieve an incredible throughput and ensure state-of-the-art scalability for users. Subsequently, ONE transactions take only a few seconds. The blockchain processes thousands of transactions per second and aims at achieving a goal of millions of transactions per second. Businesses that decide to accept ONE as payment will not have to wait for their transaction to take place since it will happen instantly for them and their clients.
Borderless Harmony Payments
The traditional finance system is severely limited by geographic borders. At times, it takes people weeks for their payment to go from their bank to a bank in the neighboring country. This significantly undermines the ability of companies to operate efficiently, especially in situations involving high competition. Harmony exists above any borders. As a result, ONE transactions take seconds no matter where the sender and the recipient live. A ONE payment gateway can become an invaluable asset for companies that have close ties with foreign contractors and clients. Making a ONE payment is an easy task compared to conducting an international bank transfer.
Cheap Transactions
Bank transfers entail considerable expenses, especially when summed up. Modern banks charge merchants exorbitant interchange fees, which eat into their incomes. Small companies are perhaps the primary victims of the fee policies imposed by banks. Switching to cryptocurrencies is the easiest way of avoiding paying huge fees to banks. Harmony fees are among the lowest in the industry, and every transaction costs less than a cent. By deploying a ONE payment gateway, businesses can annually save substantial sums on their transactions.
How to Accept Harmony (ONE)coin?
NOWPayments is a service that enables businesses to accept various cryptocurrencies, including the ONE token. NOWPayments partners have access to a wide range of tools for accepting ONE as payment or donations.
Merchants can create crypto invoices to accompany each of their products. Crypto invoices contain information such as the price of a product and the address to which a payment must be sent. Crypto invoices are reusable, so they can be utilized an unlimited number of times. Merchants also can issue individual invoices using a web-based crypto terminal.
There is also a possibility to accept ONE payments with crypto plugins for eCommerce stores that utilize PrestaShop, WooCommerce, Magento 2, WHMCS, OpenCart, Ecwid, Zen Cart, Shopify, and Shopware.
Charities and bloggers can accept the Harmony cryptocurrency by placing widgets, buttons, or links on their websites or social media pages.
Conclusion
Harmony is a blockchain which maintains a decentralized and scalable network for the economy of the future. The ONE coin is a great asset for accepting it as payment. Businesses can feature ONE payments with the help of NOWPayments.