Could Harmony (ONE) Still Succeed?
Harmony was one of the dozen or so projects to launch on Binance's Launchpad. It aimed at creating a high-throughput, low-latency, and inexpensive consensus cryptocurrency economy. It bears many similarities to the much older and better known Ethereum. While Ethereum is planning a shift from proof-of-work (PoW) to proof-of-stake (PoS) later this year, Harmony launched its PoS blockchain earlier today.
Harmony MainNet Launch
Earlier today, Harmony launched its Mainnet. This is essentially the launch of their own independent blockchain which means that it is no longer a token on Binance Coin's blockchain. Usually the launch of a Mainnet is a pretty big event which could be technically difficult at times. Harmony managed to successfully launch their Mainnet without any hiccups.
Despite the successful launch of their Mainnet it appears that traders were not particularly impressed. Harmony's price barely moved since then. It appears that the coin has only gained 0.24% in the past 24 hours.
When larger and better known coins launched their Mainnet it managed to move the markets. This includes EOS and Binance Coin although major movements took place within the 48 hours after the Mainnet launch. It could be possible that a climb could occur later or perhaps traders are waiting for the token swap to occur. Harmony could also be affected by Bitcoin recent retracement in the market.
Seeing that Harmony launched one of the 1st PoS blockchains, it will be interesting to follow.
Written by Jonathan Ganor
Writer & cryptocurrency aficionado