Harmony to Undergo Hard Fork on November 2nd
Harmony is set to undergo a hard fork. The hard fork is scheduled to take place on November 2nd at 17:30 UTC.
Refer to the official tweet by ONE:
ProBit Global@ProBit_ExchangeOkt 30, 2023âš™ï¸ ProBit Global Supports @harmonyprotocol (ONE) Hard Fork
🚨 Please take note of the following key schedules:
â° November 2, 2023, 09:00 UTC: Suspension of deposits and withdrawals of ONE tokens.
â° November 2, 2023, 17:30 UTC: Estimated hard fork time.
🔗 We will notify… pic.twitter.com/WtpRevwD07
ONE Info
Harmony is a cutting-edge, layer-1 blockchain that employs sharding and Effective Proof of Stake (EPOS) to enhance scalability, security, and decentralization. Initiated in 2019, it has made significant strides by introducing trustless cross-chain bridges and employing four shards that process transactions concurrently, establishing itself as a key player in the blockchain sphere.
In terms of its operational mechanism, Harmony relies heavily on EPOS and sharding. EPOS fosters decentralization among validators, thereby increasing network security. Simultaneously, sharding divides the network load among various validators, delegators, and users, which significantly bolsters transaction speed and overall network performance.
ONE, the native token of Harmony, is integral to the network’s functioning. It serves as the medium for transaction fees, facilitates governance by allowing token holders to participate in decision-making processes, and is used for staking, providing security to the network.