Difference between revisions of "Harmony"

Harmony (view source)

Revision as of 03:25, 24 April 2022

292 bytes removed , 03:25, 24 April 2022

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cut some redundancies out and tried to limit any shill-like language, more on this article that needs changed. edited some headings + added source

Moleman

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 === Utility ===
-ONE token has several important utilities that’s required for using the network and is essential to the security of the network.
+==== Gas  ====
+ONE token is the native token used for transacting on the Harmony blockchain. Users need to specify a certain amount of ONE so the transaction can be successfully processed and included in the blockchain.
-==== Pay for transaction fee ====
+==== Staking ====
-ONE token is the native token for paying transaction fees. Users need to specify a certain amount of transaction fee in ONE so the transaction can be successfully processed and included in the blockchain.
+Harmony is a Proof-of-Stake blockchain. Validator wallets are funded with 10,001 ONE<ref>https://docs.harmony.one/home/network/validators/creating-a-validator</ref>. ONE token holders are also able to delegate their ONE tokens to existing validators to participate in the staking process. The more ONE token staked, the more secure the network becomes. Elected validators who successfully sign blocks will receive block rewards in ONE tokens as compensation for their services.
-==== Stake to secure the network and earn reward ====
+==== Governance ====
-Harmony is a Proof-of-Stake blockchain which means the security of the network is protected by staked tokens. ONE token is the native token that’s accepted for staking. Potential node runners need to stake a certain amount of ONE token to be elected as a validator. ONE token holders are also able to delegate their ONE tokens to existing validators to participate in the staking process. The more ONE token staked, the more secure the network becomes. Elected validators who successfully sign blocks will receive block rewards in ONE tokens as compensation for their services.
+Harmony is a permission-less and decentralized network which is governed by the community. Any protocol level decisions or improvements will be put as a proposal which will go through the open governance process to finalize. ONE is the only accepted token used as the measure for voting in the governance process.
-==== Participate in open governance ====
+== References ==
-Harmony is a permission-less and decentralized network which is governed by the community. Any protocol level decisions or improvements will be put as a proposal which will go through the open governance process to finalize. ONE is the only accepted token used as the measure for voting in the governance process.