Buy Harmony Coin in India — Step by Step guide for beginners
How to buy Harmony(ONE) Coin in India?
Harmony is a multi-asset, collectibles, identity, and governance platform. Its mainnet supports Ethereum applications with 2-second transaction completion and 1000 times lower fees. Its secure bridges facilitate cross-chain asset transfers with Ethereum, Binance, and three other chains.
What is Harmony(ONE) Coin?
Harmony solves existing blockchain problems by combining the best research results and engineering practice in an optimally tuned system. Harmony is a blockchain platform designed to make the development and deployment of decentralized applications easier (DApps).
The network aims to innovate the way decentralized applications work by focusing on random state sharding, which allows for the creation of blocks in seconds. Harmony is a next-generation sharding-based blockchain that is fully scalable, provably secure, and energy-efficient
Key elements of Harmony(ONE) Coin include:
- Fully Scalable: Harmony, like Zilliqa, shards the blockchain state as well as network communication and transaction validation. As a result, Harmony is a blockchain that is completely scalable.
- Secure Sharding: Harmony’s sharding process is provably secure thanks to the distributed randomness generation (DRG) process, which is unpredictable, unbiased, verifiable, and scalable. Harmony also re-shards the network in a non-disruptive fashion to protect against byzantine adversaries that adapt slowly.
- Efficient and Fast Consensus: Harmony, unlike other sharding-based blockchains that use PoW to select validators, is based on PoS and thus consumes less energy. Consensus is achieved by a linearly scalable BFT algorithm that is 100 times faster than PBFT.
- Adaptive-Thresholded PoS: The number of stakes required for a node to join the network is adjusted based on the total volume of staking so that malicious stakes cannot concentrate their power in a single shard. Furthermore, the threshold is set low enough that even small stakes can participate in the network and earn rewards.
- Scalable Networking Infrastructure: Using the Adaptive Information Dispersal Algorithm, Harmony can quickly propagate blocks within shards or across networks using RaptorQ fountain code
- Consistent Cross-Shard Transactions: Harmony supports cross-shard transactions, with shards communicating directly with one another. An atomic locking mechanism is used to ensure the consistency of cross-shard transactions.
How to Buy Harmony(ONE) Coin?
You can buy Harmony(ONE) in India from several different exchanges but a trusted firm like BuyUcoin is important. With BuyUcoin you can trade ONE in India along with 130+ cryptocurrencies in INR and USDT pairs.
Buy Harmony Coin in India — Step by Step Guide For Beginners
Step 1 — Open a Digital Wallet
A digital wallet houses your cryptocurrencies and uses blockchain technology to communicate with other citizens. It is important to make in-depth research before you decide what one is best for you, however, there are several providers of digital wallets. Today, BuyUcoin’s the leading digital wallet provider.
Step 2 — Register & Open an Account
When you enter the BuyUcoin/Signup account, register and open a service account. Choose your person or company form of account. Choose your country and adhere to the terms and conditions of your crypto-trading account.
For the Indian jurisdiction, KYC and AML are compulsory. Your data are securely encrypted and stored only in Indian data centres. To complete your KYC, you are redirected to another URL. With your last selfie, please be ready. Pictures of your pan card will be required. The mobile number connected to your Aadhar is important.
Step 4-Google 2 step Verification
To use 2FA, the Authenticator app must be enabled on your smartphone or tablet. If enabled, any time you log in to your Federal Republic of Germany account, you will be asked to include a 6- digit one-time password with your email and password.
Step 5-Add Bank details
Add your name credentials, the account name of the holder and the IFSC code information.
Trade Harmony Coin
Harmony Coin price in India at the time of writing is $0.174073 USD, and it is expected to reach $1 per ONE token sometime this year. To exchange cryptocurrencies such as bitcoin (symbol BTC), Ethereum(symbol ETH) for ONE coin. The BuyUcoin platform supports the trading pairs ONE-INR and ONE-USDT. To complete the transaction, you must deposit the fiat currency into the exchange account linked to your account.
Users can buy cryptocurrencies in India directly from the BuyUcoin exchange. You can also buy a trading currency similar to ONE elsewhere and then transfer it to the BuyUcoin exchange wallet.
Can I Use Regular Money to Buy Harmony Coin?
Yes, you can use regular money to buy Harmony Coin in India; as BuyUcoin is one of India’s leading crypto exchange that supports trading with fiat currencies like INR.
Harmony is a sharding protocol that provides a two-way Ethereum bridge. The Harmony blockchain, powered by the Harmony One token (ONE), is an independent blockchain designed to enable ultra-fast transactions and interoperability as an advanced layer-2 solution for Ethereum.
Getting a Harmony Coin Wallet
As BuyUcoin is a multi-exchange wallet all the tokens are viable to exchange with INR and it also supports good and efficient cold storage wallets for cryptocurrencies.
You have complete control over your funds with BuyUcoin Wallet. Within the mobile interface, you can receive, send, store, and exchange your cryptocurrency.
Harmony is also considering increasing staking incentives in order to attract more node operators. The Harmony Open Staking initiative encourages network interaction and rewards stakeholders with the most ONE tokens.
Harmony provides the world with a scalable and secure blockchain system capable of supporting the emerging decentralized economy by innovating on both the protocol and network layers.
Buy Harmony Coin in India — Step by Step guide for beginners was originally published in BuyUcoin Talks on Medium, where people are continuing the conversation by highlighting and responding to this story.