Harmony to Undergo Hard Fork on June 20th

Harmony is set to implement a hard fork at epoch 1976, which is scheduled for June 20th, at 00:06:49 UTC. The purpose of this hard fork is to address an issue related to the maximum rate of validators. This update will introduce a uniform validator rate check, which is expected to maintain the integrity of the network and secure the funds.

Refer to the official tweet by ONE:

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.