Popular crypto analyst Coin Bureau is revealing which altcoin he believes could be the most undervalued asset in the crypto sector.
In a new video, the pseudonymous host who works under the moniker Guy tells his 539,000 subscribers that he’s got his eye on sharding protocol ONE, the native asset of Harmony.
Harmony is a sharded, smart contract-compatible blockchain fully interoperable with the Ethereum ecosystem. It was founded in 2018 by big tech heavyweight Dr. Stephen Tse and a team of Silicon Valley veterans. Binance Labs, the venture arm of crypto exchange Binacne, has invested $5.5 million in the project.
Harmony is inspired by other smart contract-based blockchains like Ethereum (ETH) and Cardano (ADA) and uses the same economic incentive structures similar to Cardano’s staking pool saturation, but Guy notes that the project has relied upon its own tech to address scalability issues plaguing smart contract networks.
“Unlike most cryptocurrencies, the Harmony blockchain is not a fork of another popular cryptocurrency’s blockchain, nor was it built using a generic blockchain developer toolkit like the Cosmo SDK. Harmony was built from the ground up to properly address the issues of scalability, security, decentralization and also privacy, which Stephen once referred to as ‘the fourth trilemma.’”
Coin Bureau adds that in order to launch as many validators as possible, Harmony has created a low barrier to entry for anyone who wants to stake ONE. Harmony only requires that you have 10,000 ONE coins to start staking, which, at the time of writing, will cost you about $1,100.
Though Harmony’s ONE token has massively surged since the beginning of the year, the Coin Bureau analyst believes that it still has plenty of room left to grow.
“Harmony has gone up 20x since January, making it one of the best performing cryptocurrencies I’ve covered so far this year. The best part is that there still seems to be a lot of room for growth given that ONE’s market cap is currently sitting around $1 billion with 74% of its supply in circulation. It also helps that as a newer cryptocurrency ONE has no real zones of previous resistances from the 2017 to 2018 bull market…
Harmony has its best days ahead of it. And the ONE coin is just starting to make its mark in the crypto market. Adoption, interoperability, decentralization, and governance are Harmony’s focus points in 2021 and I have a feeling they’re going to deliver on all four.”
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The post This Low Cap Crypto Asset Could Be the Most Undervalued Altcoin on the Market, According to Coin Bureau appeared first on The Daily Hodl.