Harmony is the go-to crypto for every business that seeks to use the state-of-the-art blockchain in its operations. The utility of Harmony can really blow your mind since it powers numerous projects and delivers excellent efficiency to its users. The power of Harmony makes its native cryptocurrency ONE a perfect payment solution for businesses. Harmony can easily provide any company with a competitive advantage in its segment or even industry. Setting up a ONE payment gateway is easy and does not take more than several minutes. NOWPayments offers several effective tools for featuring a Harmony payment gateway.
- Harmony is a network that has solved the Blockchain Trilemma.
- ONE payments are low-cost and fast.
- Businesses can integrate ONE payments using NOWPayments.
Benefits of Harmony
Efficiency and Security
Harmony uses Sharding technology which enables it to achieve the highest level of efficiency. Unlike other sharding-based blockchains, which require PoW to select validators, Harmony is based on PoS and thus energy efficient. Consensus is reached with a linearly scalable BFT algorithm that’s 100 times faster than PBFT. As a result, Harmony has quick transactions allowing users to transfer their ONE coins and conduct other activities in a fast manner,
Secure Harmony’s sharding process is provably secure since it utilizes the distributed randomness generation (DRG) process, which is unpredictable, unbiaseable, verifiable, and scalable. Harmony also reshards the network in a non-interruptive manner to prevent against slowly adaptive byzantine adversaries.
The efficient and secure infrastructure offered by Harmony is used by a variety of decentralized applications and projects that greatly benefit from Harmony tech. For instance, notable platforms such as Curve Finance and Sushi Swap use Harmony in their operations. The high utility of Harmony adds to its credibility and allows it to have an excellent reputation in the crypto community. Additionally, Harmony itself incentivizes developers to utilize its infrastructure in their solutions. Harmony is granting $300 Million to its open DAO Community. Basically, anyone can apply for Harmony’s grant and get funding for their Harmony-powered initiatives.
The Blockchain Trilemma is an idea that decentralized networks cannot balance decentralization, security, and scalability without compromising on one of the three. Yet, Harmony defies this belief by offering a solution which enables it to integrate all three critical pillars with secure, random state sharding. Security against single shard attacks is guaranteed by leveraging 250 nodes per shard and cryptographic randomness to re-shard regularly. The technology of Harmony makes it one of few blockchains that manage to bring a balanced approach to crypto. So, you can be certain that the native currency of Harmony is decentralized, secure, and scalable.
Ways to upgrade your business using Harmony
It is well known that mainstream payment solutions entail significant expenses for businesses, especially when you put all of them together. For instance, banks charge merchants high fees, which subsequently make profits shrink. Smaller businesses are harmed by high fees the most since they do not have many resources. This is why switching to cryptocurrencies such as Harmony is a great way of avoiding paying exorbitant fees to banks and other payment processing organizations. Harmony fees are among the lowest in the crypto world. On average, the cost of a single ONE transaction is only $0.0001. So, by featuring a ONE payment gateway, businesses will be able to boost their profits by bringing down fees.
Speed up payments
Sharding is a technology which constitutes the core of Harmony. One of the reasons why it was chosen by Harmony’s developers is that it enables the network to reach an astounding throughput and maintain incredible scalability for users. Thus, Harmony transactions take only a few seconds. In fact, the exact transaction finality of Harmony is 2.02 seconds. This is because Harmony can process thousands of transactions per second and eventually wants to achieve a goal of millions of transactions. So, businesses accepting ONE as payment have no problems with transaction delays. Moreover, Harmony is borderless, and, as a result, ONE transactions take the same 2 seconds in every situation, no matter where the sender and the recipient live.
Ensure better fraud protection
No business can guarantee complete protection from all types of fraud. Yet, by using ONE as a payment solution, companies can forget about chargeback fraud. As one of the most common kinds of illegal schemes, chargeback fraud affects millions of businesses worldwide. Businesses that want to get rid of this problem can use ONE payments since all Harmony transactions are irreversible. This means that once ONE coins are sent, they cannot be in any way returned back. Thus, businesses that accept ONE payments can be confident that their cryptocurrency will not disappear overnight due to the actions of chargeback criminals.
Achieve better privacy
Another cool feature of Harmony is the anonymity of its transactions. Essentially, in order to use Harmony, users do not need to provide any info about themselves. Therefore, all ONE transactions are private and do not contain any personal information of the transaction parties. ONE payments can thus be offered by businesses as a private way of paying for products and services. Some people prefer to keep their activities confidential, and ONE payments can be a relevant solution for them.
Get investment opportunities
Businesses that accept Harmony can use their crypto funds in a variety of ways. While it is easy to exchange Harmony for fiat or other cryptocurrencies, businesses also can use their ONE coins as an investment. For instance, companies can simply hold their ONE cryptocurrency in their wallet and then sell them when the asset’s price hits an all-time high. Alternatively, businesses can stake their ONE coins to receive rewards and even get the right to govern Harmony’s network. Essentially, there is a lot of investment potential in ONE.
Make your business more sustainable
The conscious use of energy is a new trend that companies should not ignore. Businesses must strive to make their operations have less impact on the environment. Some cryptocurrencies cannot help businesses in this regard. For instance, Bitcoin that runs on the PoW consensus requires kilowatts of power to work properly. Harmony, on the other hand, is eco-friendly since it runs on the Proof-of-Stake protocol, which does not need massive amounts of power. Thus, companies accepting ONE are able to substantially reduce their impact on the environment.
How to accept Harmony payments
NOWPayments is a service that enables businesses to accept various cryptocurrencies, including the ONE crypto. 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, 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.
Harmony is an innovative blockchain with numerous use cases. NOWPayments enables companies to accept Harmony’s native cryptocurrency, ONE, as payment or donation.