What is Defi Kingdoms Harmony?
Play-to-Earn gaming has made gaming more engaging than in past generations. The advent of NFTs and the development of virtual worlds have expanded the scope of what may be done in the game sphere. Users and gamers are constantly looking for new and exciting experiences to meet their needs. What is Defi Kingdoms Harmony? Read about Defi Kingdoms Harmony ONE in this post.
What is DeFi Kingdoms Game?
DeFi Kingdoms is a blockchain-based crypto play-to-earn game centered on NFTs and its native coin Jewel. (DeFi, an abbreviation for decentralized finance, refers to fintech built on public ledgers that are not regulated by a single institution.)
It’s free to begin playing, but you’ll have to pay gas fees if you want to interact with the blockchain.
The game is constructed on the Harmony Protocol network, with its native currency One, and all operations in the game are made with the native currency Jewel.
DeFi Kingdoms appears to be a standard pixel RPG. Players can tour the Tavern, Bank, or Garden, as well as interact with the town crier and other eccentric NPCs, all while trading and earning money. Some have compared the art style to Runescape, but we think it’s more akin to indie, medieval games developed with RPG Maker and the homey game Stardew Valley.
DeFi Kingdoms is situated in Gaia, a fictitious world with intricate and engrossing lore. The continent of Gaia was once undivided, but over-cultivation ruined the land. Those who remained devoted to Gaia were taken to the Inner Grove, where a deity divided the once-single continent. Separate kingdoms grew and then rejoined over time.
Players begin the game in the Age of Heroes, where they collect Jewels. They summon warriors back into the realm using supernatural powers to protect their Jewel gardens and battle corrupted beasts.
Read this to learn more about What is DeFi Kingdoms in detail
What is Defi Kingdoms Harmony?
Harmony (ONE) is a blockchain platform that promises to solve the dilemma of obtaining both scalability and decentralization without compromising either.
Harmony (ONE) debuted in May 2019 as a portion of the Binance Launchpad’s initial exchange offering (IEO). Its goal is to serve as a link between scalability and decentralization projects. It was created with the tagline “decentralization at scale” in mind, focusing on data sharing and the development of fungible tokens and non-fungible asset exchanges.
In addition, Harmony guarantees high throughput with 2 “lows”: latency and prices. When they merge, they are intended to put the platform at the core of efforts to lay the framework for potential decentralized trustless systems.
Harmony provides investors with access to an architecture that will allow the firm to be adopted across a wide range of industries, with a focus on information sharing, decentralized markets, supply chain tracking, ad exchanges, credit score systems, and gaming.
How to Buy Defi Kingdoms Harmony ONE?
The following are the steps to purchasing Harmony ONE:
- Compare crypto exchanges that support ONE: Fees, security, and payment methods differ between cryptocurrency exchanges, so you’ll require to do some research to choose which is ideal for you. In the beginning, you don’t need a large number of features, and you may easily modify exchanges later.
- Create an account on a trading system: Go to the exchange’s webpage where you want to open an account. Select “sign up,” which will take you to the account creation screen, where you can complete out your personal details, starting with your name, and email, and submit proof of address, among other things.
- Funds can be deposited into your account in the following ways: To buy Harmony, you must first fill your account with a bank transfer, credit or debit card, or Bitcoin from a cryptocurrency wallet.
- Purchase Harmony: Then, finish your Harmony purchase by inputting the amount you wish to spend and clicking “buy.”
Why is Harmony ONE Gaining So Much Popularity?
Harmony is gaining popularity because it addresses fundamental blockchain challenges, is energy-efficient, has cross-chain features, has cheaper gas prices, and has enormous potential for nonfungible tokens (NFTs).
Maintain Decentralization and Security
Harmony believes its network can scale while preserving decentralization and security because it employs sharding, which separates validators into various organizations and enables them to approve operations and new blocks at the same time. Harmony is now capable of processing 2,000 transactions per second (TPS), which is equal to Visa, ONE of the world’s major payment networks. Harmony predicts that in the long term, it will be able to process 10 million TPS.
The proof-of-stake concept, which Harmony has used since its beginning, is currently being used by several blockchain networks. As a result, nodes in this operation put up existing tokens as security in order to be picked at random to verify transactions. Many validators must examine transactions before a block can be accepted. Harmony distinguishes itself from other networks due to its design and proof-of-stake consensus process, which allows it to complete blocks in less than two seconds.
Lower Gas Fees
Because of its high TPS and use of proof-of-stake validation, Harmony’s network rarely becomes congested. As a result, it does not have hefty gas expenses, which on Harmony are now a quarter of a penny for every transaction.
A network like Ethereum, on the other hand, experiences significantly higher total demand and operations than Harmony. Even if the network is completely utilized and experiencing extraordinarily high demand, Harmony says that it can ease congestion difficulties by simply adding new shards.
Huge Potential for NFTs
The network’s cross-chain abilities open up new opportunities for NFTs, which are highly secured art, video, and audio commodities that may be sent via a blockchain network. Furthermore, lower gas costs may make the network more enticing to developers engaged in minting NFTs.
According to Harmony, while bridging NFTs from ONE ecosystem to another could be expensive at first, subsequent operations will be affordable. Harmony also declared on Twitter that, among other things, it is focusing on NFT lending, NFT authentication, and fractionalization.
Despite the fact that considerable work remains to be done, the Harmony Project has been regarded as a solution to inadequate scaling and interoperability, as well as a valuable basis for DApp developers to scale their applications and operations.
Harmony intends to be a top cryptocurrency network famous for its speed and accuracy, and it’s well on its approach. The system enables its promise of reduced transaction and fuel prices.
As with any other crypto or network, ONE will rise in value as Harmony gains traction. Maybe in the future, in addition to purchasing, selling, and staking, we’ll see new applications for Harmony ONE.