The host of the popular crypto channel Coin Bureau says that a mid-size Ethereum competitor could rise before the year is out.
The analyst, known by the pseudonym Guy, has a layer-2 protocol to 1.66 million YouTube subscribers in a new video. of Harmony (ONE) He says it could be the “one” coin to dominate all smart contract platforms.
Harmony is a blockchain that aims to power decentralized economies by helping users create marketplaces for both tradable and non-fungible digital assets. Guy says the project resembles Ethereum 2.0 and highlights the network’s considerable speed.
“Harmony looks like Ethereum 2.0 on closer inspection. This is because Harmony leverages the Ethereum Virtual Machine (EVM) for smart contracts and uses a granular proof-of-stake blockchain consisting of four parts. Each part can handle up to 500 operations per second, which means that Harmony can currently process around 2000 operations per second with a transaction precision of 2 seconds.”
The analyst, who is closely followed by the crypto community, also explains the deflationary nature of Harmony’s ONE coin and states that apart from staking, the ONE coin is used for management and to pay transaction fees. When it comes to transaction fees, Harmony says that all ONE tokens used to pay transaction fees on the blockchain have been burned, yet ONE is not deflationary.
The Coin Bureau host believes that thanks to solid foundations and tokenomics, ONE can easily reach all-time highs in the coming months.
“… ONE token should be able to reach all-time highs much more easily. And my long-term technical analysis is at the end of this year or early next year. 0.50 shows that he can reach the dollar.”
Guy points out that Harmony is currently more centralized compared to other cryptos, while claiming that the project “has been focused on decentralization from day one.”
Guy believes that if it becomes more decentralized, ONE could be listed on top US crypto exchange Coinbase, but in this case too Ethereum (ETH), Left (LEFT) or Avalanche (AVAX) He says it could face stiff competition from other projects that have more “manpower,” such as
“[Bir Coinbase listelemesi] Even if it does happen, Harmony risks being crushed by competition simply because it lacks the manpower to meet milestones.
Despite Harmony’s tough fight for smart contract platform dominance, Guy believes ONE coin has the potential to one day become the category’s top contender.
“If Harmony is successful in attracting the developers it needs to meet milestones, the ONE coin smart contract could be the biggest contender for the king of cryptocurrencies.”
ONE is currently trading at $0.31, up 15% in the last 24 hours, according to CoinGecko Data.
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.