There are a lot Crypto coins but most of them just look like the old day’s reward points. I wanted a coin with innovative ideas as well as practical usefulness and hopefully something sustainable. After searching a lot, I landed on Harmony ONE.
Harmony ONE charges very low transaction fee(probably less than a cent) for its super fast transfer from one wallet to another. My transfer from Binance only took a few seconds, this was stunning fast comparing to half an hour transfer of Cardano (ADA) for $3 fee.
Harmony ONE’s speed is probably due to its sharding design(i.e. blockchain data is split into several parts and a single node only needs to sync data from one of them), this is quite a unique feature I don’t see on other coins(MongoDB has this but it’s a database).
I see great potential growth given Harmony ONE can bridge any Proof-of-Work(e.g. Ethereum) and Proof-of-Stake(e.g. ONE) chains and its current cheap price(22 cents).
Being a second generation blockchain coin, Harmony ONE offers staking instead of GPUs “mining”, this pretty much eliminates electricity use and makes getting more coins as simple as putting your money into a saving account.
It’s easy to participate its staking and this is ONE’s official page to monitor your staked coins https://staking.harmony.one/portfolio/mainnet
Below are a few wallets that offers staking for ONE, I have not tried any of them yet as I started straight with HMY command line on my Linux box (because I wanted to become a validator)
My next post will detail steps for setting up a validator node and provide my personal reflections.