Binance launchpad, the exclusive token sale platform for transformative projects of a global cryptocurrency exchange, has announced the support for Harmony Protocol- one of the most awaited ICO/IEO. This will be the fifth project of this year that Binance is supporting. Harmony Protocol blockchain deals with the issues of scalability and security.
Harmony Protocol blockchain mainly aims to transform the world into an open marketplace, I.e., to be a platform that would be operating significantly cheaper than Bitcoin and Ethereum, at a scale similar to that of Google. The team is aiming to provide the consensus protocol over the internet that will be able to aid more than 10 million transactions per second with a latency of 100 milliseconds and a fee maximum of 0.1%.
The main features of the Harmony Protocol
- Deep Sharding- A scalability technique that does fragmentation of the available data set into smaller data sets called shards.
- Zero Knowledge Proof – validating the data something is valid or not without the revelation of the full data.
Harmony Protocol Use cases
We have seen the blockchain use cases such as it is being used in the healthcare industry, decentralised internet, real estate, pension funds, energy, security identification, decentralised storage, entertainment, social networking, etc. Harmony protocol blockchain will help the businesses to tokenise their assets and incentivise user engagement.
- It is creating an open economy for data sharing and is also making efforts in building a solution to Universal Basic Income, which is impressive.
- Universal Basic Income – it is a program that pays all the eligible people a fixed amount unconditionally, i.e. regardless of their income employment status, socioeconomic status, etc. regularly.
Harmony Protocol Partnership
- The astronauts will also use Harmony in many ways on the new lunar base mission. We recently saw Harmony collaborated SpaceZ and Green Origin, leading rocket companies, to launch a lunar manned-mission in Q2 2019.
- Harmony has also partnered itself with Hyperion, which is trying to establish a global decentralized map economy for people.
Harmony Protocol IEO token Metrics
Binance has announced that the IEO will be conducted on the Binance Launchpad on 27th May 2019. All the user who wants to participate in the IEO needs to have Average of 50 BNB for 7 Days to get the lottery ticket to participate in the lucky draw for IEO.
Harmony Protocol IEO token metrics
- Token Name: Harmony (ONE)
- Hard Cap: 5,000,000 USD
- Total Token Supply: 12,600,000,000 ONE
- Total Tokens Allocated to Binance Launchpad: 1,575,000,000 ONE (12.5% of Total Token Supply)
- Public Sale Token Price: 1 ONE = 0.003175 USD (price in BNB will be determined on the lottery draw date)
- Allocation Per Winning Ticket: 300 USD (94,488.18 ONE)
- Supported Sessions: BNB only
Harmony Protocol Vs. Other Similar Project
As Harmony is willing to provide high scalability and low fee for transaction processing at high speed, it is facing a considerable amount of competition from other platforms that are trying to achieve similar goals as well. It is facing competition from EOS valued at $10 billion, Cardano, Hashgraph, Zilliqa valued at $700 million and Hashgraph valued at $300 million in the market.
There are other projects like Dfinity, High-Performance Blockchain, and Seele addressing similar issues. Although there exist similar projects and scalability is one the crucial issue in blockchain technology and Harmony team seems to be ahead in achieving the target.
Harmony Protocol Price Prediction – Competitors Model
Harmony Protocol is entering into the most competitive space of blockchain – Scaling. A significant number of players in the industry is working towards the scalability. Cardano, EOS, and Zilliqa are already in the market. The most comparable project with Harmony protocol is Zilliqa.
Zilliqa raised $22 Mn USD in 2018 for 30% of the total token supply. The token was launched at 15X on listing day and raised to billion dollar company within a short period. Considering this scenario. Harmony protocol is more powerful, has a solid roadmap and a team.
Harmony Protocol is raising $5 Mn USD 12.5% of Total Token Supply. Recently Carry Protocol was listed at 17X. We are considering the current market condition to be good. Harmony Protocol can easily do 7X -10 on the listing. Good for a flip.
A very high chance that within a few days, Harmony protocol will do 15X considering the project and competitors market. In the long run (6 months to Year), the project has a very high chance to do 40X to 50X and will reach around the $200Mn market cap. The company has already launched the testnet and has a solid partnership. The project had raised ~$18Mn in a seed round in May 2018 and used those funds to develop the blockchain.
Harmony Protocol Price Prediction – Binance Launchpad Model
Binance launchpad was started in 2018 and then kicked off again in 2019. So far binance has conduct 4 IEO and Harmony protocol will be the fifth IEO. Starting with BitTorrent, Fetch, Celer and Matic. All these IEO on the listing has performed around 4X except Matic at 2X ( due to adverse market condition, As alt were dropping while BTC was pumping).
While Matic and BitTorrent are currently trading Above 7X, consider the Binance based IEO, a very high chance the Harmony Protocol will be listed around 4X. and would perform better.
Conclusion: Harmony Protocol is an excellent project for flip and long term.
Update: Harmony Protocol opens above 16X in Binance on June 1st.
P.S: Note that these price predictions are based on some data, which we collect from various sources and internal research. Price prediction may differ, and we request our reader that not to be dependent on this solely.