Harmony | ONE

Overview

◾Harmony is a blockchain project built to run decentralized applications and transfer value using an Ethereum-compatible execution environment. Its independent network has supported smart contracts, staking, and applications across areas such as decentralized finance. ONE is the native coin used for network fees and staking. Harmony has proposed retiring its layer-one network, issuing ONE on Ethereum, and redirecting activity toward an AI video initiative. That proposal creates an important distinction between the network’s established capabilities and its intended future structure. The timing and final outcome of the proposed transition should be checked against subsequent project announcements. ◾Harmony launched as an independent blockchain designed for decentralized applications, relatively fast transactions, and compatibility with Ethereum development tools. Its architecture has used sharding and proof-of-stake validation. ONE serves as the native asset for transaction fees and staking, while developers have been able to deploy smart contracts and build applications on the network. ◾Those are established features of Harmony’s layer-one design. The project’s proposed future is materially different. In September 2026, Harmony proposed retiring the independent blockchain and representing ONE as an ERC-20 token on Ethereum. It also outlined an AI video initiative in which the token could have a new role. A proposal does not establish that every operational, governance, exchange, and user migration step has been completed. ◾The proposed transition followed a serious August 2026 exploit involving unauthorized ONE creation and a network response. Readers assessing Harmony should distinguish the existing network, the proposed Ethereum token structure, and any services that actually become available. They should also follow official instructions for their particular wallet, staking, or application position rather than assuming all assets and contracts transfer in the same way.

Project features

• Ethereum-compatible smart contracts
• ONE transaction fees
• Proof-of-stake validation
• ONE staking
• Sharded network architecture
• Ethereum token migration proposed but not confirmed complete
• AI video initiative proposed