Harmony’s open, decentralized network is enabled through the use of the native protocol token – Harmony ONE. The token incentivizes and rewards a variety of participants including developers, validators/stakers, investors, and community members who develop, secure and govern the network. In order to use the network, users pay a small transaction fee denominated in the native Harmony token.
Harmony’s scalable, high-throughput protocol is powered by a native token which is used for various forms of payment and participation in the protocol (staking, transaction fees, voting & governance). It offers a potential solution to the scalability issues facing Ethereum, and the team is getting ready to showcase their work at ETH Denver 2022.
Harmony uses blockchain to align incentives of different stakeholders, developers and businesses while allowing them to build open marketplaces of fungible and non-fungible tokens and assets. Furthermore, the upcoming application of zero-knowledge proofs will allow Harmony to become a data sharing platform that can overcome the conflicting problem plaguing many information and data markets: that individual market participants’ have mutual distrust to share data but strong desire to acquire data themselves.
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