One (ONE) is a cryptocurrency designed to facilitate transactions and decentralized applications on the Harmony blockchain platform. Launched in 2019, Harmony aims to address scalability issues commonly associated with blockchain networks by implementing sharding and other innovative technologies.
As the native cryptocurrency of the Harmony platform, ONE serves multiple functions, including paying transaction fees, participating in network governance, and incentivizing validators and developers. ONE tokens can be staked to secure the network and earn rewards, further promoting network participation and decentralization.
Harmony's consensus mechanism, called Effective Proof-of-Stake (EPoS), aims to provide fast transaction finality and high throughput while maintaining security and decentralization. ONE tokens play a crucial role in this consensus process, allowing token holders to contribute to the security and governance of the network.
