One Ecosystem Collaborates With POKTnetwork for Decentralizing Harmony Protocol

Loading...

One Ecosystem has come up with something exciting for the users. According to the latest tweet, it is partnering with the POKTnetwork. Reportedly, POKTnetwork has rapidly covered the decentralization of the Harmony protocol.  

One Ecosystem proposes to move Harmony’s RPC traffic to POKTnetwork’s ecosystem. They are transferring upto 5,000 nodes as their foremost initiative for RPC services. Pocket and Harmony will have to conduct a token swap. This swap will take place when ONE token managed by Pocket DAO and POKT token owned by Harmony foundation will transfer their ownership rights to Harmony’s impending DAO. All this will take place when the said DAO is all set to manage tokens. 

However, ONE has to debate over POKT’s governance rights on Harmony and pocket 3 solutions. They are sending their votes respectively for Pocket DAO 3 and Harmony DOA 3. The directors will be asked to vote according to the validator that is open for delegation. These POKT and ONE tokens are supposed to be locked for a minimum period of 1 year.

Loading...

Background

Harmony is a multi-shard EVM-compatible blockchain network that focuses on Cross-Chain technology. They combine Cross-Border and FinTech with Social Wallets and Keyless Security. For Remote Procedural Call (RPC) services on Harmony’s blockchain, the Harmony world is built on a network of independent entities based on Validator nodes all over the world. Harmony’s ecosystem, which includes DeFi and NFT DApps, relies on RPC services provided by api.harmony.one. Harmony is horizontally scalable and has high availability.

Growth Perspective

In addition to developers, the Harmony network receives almost 100 million APIs every day from its multiverse of NFT DApps and DeFi. The goal is to enable 5 times the present-day community size. For the first year, Harmony will offer a backup-restore structure based on node runners.

Loading...

Scott Cook

Scott Cook got into crypto world since 2010. He has worked as a news writer for three years in some of the foremost publications. He recently joined our team as a crypto news writer. He regularly contributes latest happenings of crypto industry. In addition to that, he is very good at technical analysis.

Related Articles

Back to top button