harmony one

We will see in this tutorial article how to open a Harmony wallet and how to stake on the One crypto.

Personally, we have invested in Harmony for a long time and we are happy to see that the price is finally moving!

One is the crypto that we have been watching a lot since the end of 2021 and most certainly, it will be this year where the Harmony blockchain will gain visibility.

If you haven't heard about it yet, believe me, this year, you will hear about it.

Some people believe that currently it is the most undervalued crypto considering the power of its technology. Likewise, its ecosystem is growing very quickly with – as I write these lines – more than 227 apps and more than 400,000 wallets created.

Quick overview of Harmony (One)

Harmony is a blockchain which was designed to facilitate the work of developers to create decentralized applications. Thus, the network aims to be accessible and allows a very powerful development framework for applications.

This is explained by the use of what is called to facilitate "random state sharding" which allows the creation of new blocks on the blockchain in just a few seconds. Sharding allows to significantly reduce the validation time of nodes, as you know. The "Verifiable Random Function (VRF)" is the original feature of this blockchain. Randmon refers to the idea that validators are randomly selected.

This makes working on the blockchain more democratic, indirectly. It is a very strong desire at Harmony to seek decentralization absolutely with the ePOS implemented. Unlike other Proof of Stakes, Harmony's focuses on a fairer distribution, less focused on those who have the most. Even more, it is a blockchain that wants to be egalitarian in terms of enrichment.
The mission given and included as a slogan is “to increase confidence and create a radically just economy”.

The co-founder and CEO of Harmony is called Stephen Tse and he has extensive knowledge of cryptographic science. He actually has a doctorate in the field which he obtained at the University of Pennsylvania. Beyond research, Dr. Tse completed an internship at Microsoft and was also a senior engineer at Google where he stayed for 4 years before working at Apple.

His exemplary CV gives him strong credibility in the industry, that’s a fact.

Moreover, to create Harmony, he managed to surround himself with his colleagues and the team at Harmony is made up of several former employees of large groups such as Google or Amazon.

Let us add that Harmony is a Proof-of-Stake blockchain which is very energy efficient and inexpensive.

Finally, to finish this short description, know that Harmony has been invested by large venture capitalists.

How to create a wallet

First, you can add the Harmony network to your MetaMask. You can have detailed information on the data to be entered on the site of the official doc.

URL: https://api.harmony.one
ChainID: 1666600000
currency symbol ONEO
Block Explorer URL: https://explorer.harmony.one/

With MétaMask, you will then be able to participate in applications on the Harmony network.

You can also choose to open the Harmony wallet so you can be more independent and participate more in the network, so to speak. In fact, concretely, you will be able to participate in nodes and/or do staking.

So, to create your wallet, you have to go on this page download the Harmony chrome extension (exactly like Metamask).

Once again, and as usual, write down all the words of your seed sentence in a very secret place, eh.

There are other wallets but let's say that this remains the most practical; It's up to you to choose what suits you best.

Then you can also go to https://staking.harmony.one/welcome.

As you can see, you can create a new address or import it in case you need to log in again.

Buy One token

There, you click on connection and you will arrive on the general dashboard from which you can discover and participate in the network.

At this point, the second step is to purchase ONE. The best exchange platforms to buy ONE: Binance, KuCoin, Huobi Global, And .

Buy the ONE token on Binance

Also, if you already have tokens on another network, you can also use bridges to send tokens to your Harmony network.

For example, if you have tokens on Ethereum or Binance smart chain, you can send them to Harmony easily on https://bridge.harmony.one/erc20.

You should know that the ecosystem is still "recent" and in fact, there are not many applications like DEX etc. However, you will find on DappRadar the most used Dapps on Harmony.

https://dappradar.com/rankings/protocol/harmony

Note: Be careful because for the moment, even if some are audited, for most apps you still have to do your own research….

If you are interested in my life, I use Beefy and Sushi.swap mainly even if I dared to do more cavalier things but I can't talk about that here, hehe.

The two ways to stake ONE

At the moment, there is no centralized platform to generate interest like the platform Youhodler For example; it must therefore be done via official network wallets.

Become a validator

In fact, there are two ways to stake One. You can start a node and become a validator. There are very helpful instructions and tutorial for doing this available on the site. Only and as often, you will need $10,000 of ONE token… Likewise, if you do not have technical knowledge, this can quickly become perilous. Finally, you'll need to know how to attract people and that's not easy, believe me, especially if you're just starting out.

(That said, be careful, creating your own nodes remains a royal route - almost passive - to getting rich with cryptos, and we encourage everyone to persevere on this path).

This is why the second option is often the most used among the rest of us, which is to delegate. It's the simplest thing to do.

Delegating to a validator

You can delegate a portion of your $ONE to a validator who will take a commission. It's up to you to choose the validator of your choice and click on the "Delegate" button.

Please note that you can cancel a delegation if you change your mind or need to withdraw your Ones. Please note that there is a 10 day delay to avoid network instability.

So, you just have to click on "delegate" and enter the amount of your choice. The minimum is 100 ONE or $32 at the time of writing.

And voilà!

You have just stacked ONE for a rate of return of 8% (approximately) annually.

It's not bad, even if it's not crazy, but if ONE increases in value, then it could be a good deal. We remind you that we are still at the beginning and we do not know if the network will attract more users and developers.

We are also preparing an article on the Harmony eco-system with the best projects (in fact, a launchpad is worth watching: HarmonyPad).

It's up to you to continue your research and see if you want to invest in it or on others equally promising cryptos.

Discover the site Harmony

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Note: No financial advice is given in this or any other article on zonebitcoin. This is information of which you are the sole judge and master. Be responsible with your investments and only invest as much as you are willing to lose.

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