Everstake - Learning Center

Harmony Staking

What is the Harmony Protocol?

Harmony Protocol is a next-generation blockchain that was launched in 2019 with the goal of improving a decentralized network's scalability. It is a transparent platform to record assets, collectibles, identity, and governance.

Harmony is a large-scale open-source blockchain project for payments, data, and media transactions. Thanks to its vertical integration and innovations on all stages of network operation, the Harmony protocol uses the Effective Proof-of-Stake (EPoS) consensus algorithm. Therefore, Harmony is an open and fast blockchain that claims to execute transactions in 2 seconds at a low cost.

It is already proved that Harmony protocol offers high-level security. Harmony's sharding mechanisms are safe due to the Distributed Randomness Generation (DRG) process, which is unpredictable, unbiaseable, verifiable, and scalable. The users benefit from this type of system since it helps to create an anonymous and equal environment.

Harmony is developed by people who took part in important projects such as Apple Siri, Google, Maps, Amazon Web Services, NTT, and others, and have enormous expertise on large scale high-load distributed computing infrastructure.

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What is Harmony (ONE) staking?

Generally, staking is the process of actively participating in transaction validation on a proof-of-stake (PoS) blockchain. On these blockchains, anyone with a minimum-required balance of a specific cryptocurrency can validate transactions and earn staking rewards.

The ONE token is used as a stake in the Harmony consensus model. ONE token holders are able to delegate their tokens to existing validators to participate in the staking process. The more tokens are staked, the more secure the network becomes.

Harmony staking is profitable given the fact that the ONE holder can earn block rewards. Check the Harmony Mainnet Explorer for the most actual data on the expected return (APY) for your staking investment.

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Why Stake Harmony with Everstake?

Everstake unites experienced engineers and blockchain enthusiasts. The company is built by the team of high-qualified professionals with expertise in blockchain development, staking hardware and software, economy, banking, and technology.

Everstake team is 24/7 ready to become your reliable partners in receiving benefits. All our operations and activities are open to the public. We have a strong commitment to clarity and transparency. Additionally, we provide the highest levels of security, support, and governance insight to protect your assets and help you to generate maximum returns.

It is noteworthy that we care a lot about raising users’ awareness and focus on creating and developing guidelines that help users in staking. Feel free to follow our Medium channel to get all the details on staking with different coins and Harmony (ONE) in particular.

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How to stake ONE via different wallets?

You can find below the detailed guides for different wallets that will ease your staking experience.

Follow these steps to get started:

  • Create one of the wallets, which are offered below, for your browser, Android, or IOS. Please, note that it all depends on your desire to decide which wallet is better; therefore, you can look at them in advance and determine, which is the most suitable one.
  • Create a Harmony account and deposit the desired amount of ONE tokens there.
  • Now, you should choose your trusted validator – for example, Everstake (or choose any other from the Mainnet).
  • That’s it, you’ve now started getting rewards from staking!

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How and When to Get Started?

Everstake is taking part in the testnet and is supporting the development. Vote for validator Everstake

Stake Harmony via Via Google Extension

Stake Harmony via HMY

How to stake Harmony (ONE) with Blits Wallet

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Harmony (ONE) staking guides by Everstake:

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