![]() ![]() “In my opinion, Harmony will be able to find its audience and help a couple of promising projects grow, possibly from the IoT or the financial space. Even with all of these positive developments underway, most analysts are still sceptical as to whether Harmony can ever compete with established market leaders like Ethereum, Solana or Cardano.Įchoing this sentiment, analyst Mikhail Karkhalev wrote on the 7th of December 2021: “The competition for dApps platforms is intense: Ethereum, Cardano and Solana, regardless of bandwidth, are the market leaders and it will be a challenge to displace them from their positions.” Last year they announced full Ethereum compatibility, allocated $300 million USD ($421 million AUD) in funding to new developers and successfully integrated new services for DeFi and NFTs. ![]() Harmony is making massive leaps to increase the adoption and usability of its blockchain among developers and technical users. Can Harmony Really Compete with Market Leaders? Now, in order to clear up any confusion about the terminology: Harmony refers to the blockchain that powers decentralized applications, while the ticker: ONE refers to the actual token (cryptocurrency) that makes all this work possible and profitable for investors and developers. These factors have made Harmony an extremely attractive prospect for both investors and technical users that were growing weary of the high ‘gas’ fees, slow transaction speeds and now-‘outdated’ (or so they claim) communication models of the Ethereum network. This means that Harmony’s blockchain can be easily upgraded as adoption grows and allows for developers to transfer their pre-existing applications and digital assets more efficiently than anywhere else.
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