Barely, one month after raising $5 million from an IEO token sale on Binance, scalability-focused crypto project, Harmony announced today the launch of its mainnet, setting the startup on the path to delivering the world’s first fully sharded, proof of stake blockchain.
Harmony’s co-founder Nick White published information about their blockchain’s launch in a Medium post, revealing that the genesis block which was validated by Binance Labs, bears the message “Harmony for One and All. Open Consensus for 10B.”
In line with its launch, the Harmony blockchain already boasts, 600 nodes in the network split between 4 shards, and more than 150 are external validators. These numbers make the Harmony chain one of the most decentralized blockchains in the industry right from launch.
Meanwhile, as a way to incentivize users, a daily reward of 1 million ONE tokens will be minted and distributed among the 600 initial nodes running the Harmony Chain.
Co-founder, Nick White expressed delight at what is a milestone moment for the startup,
“We are tremendously excited because we believe this new architecture — a linearly scalable and secure blockchain — could unlock enormous potential for this industry and the world.”
Harmony (ONE) Token Market Performance — Bearish
The ONE token, which is the native cryptocurrency of the Harmony project, is recording losses just above 1% in the last 24-hours despite the exciting development. That would, however, count for little given that almost the rest of the crypto market is still recovering from the massive sell-off after Bitcoin attempted to break above $14,000.
Each ONE token, however, was exchanging hands for the value of $0.018, representing a 500% increase from the $0.0003 per token for which it was sold during the Binance Launchpad sales.
ONE had a market cap of $45.2 million at press time, making it the 131st ranked cryptocurrency on Coinmarketcap.
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