Harmony (ONE) and API3 are now on Okcoin

written by Kurt Grela

Harmony (ONE) and API3 are now on Okcoin

You can now deposit API3 and Harmony (ONE) on Okcoin. Here’s what these projects are all about, in simple terms. 👇

TL;DR

  • What? You can now deposit API3 and ONE against USD on Okcoin.
  • Who? All Okcoin customers including those in the United States, except for residents of  the EU, the UK, Singapore, and Brunei.
  • When? Deposits are live as of October 11 at 9.30 AM PST. Withdrawals and trading will be live soon. 👀

Deposit API3

Deposit ONE

What’s API3 (API3)?

API3 was founded with the goal of providing a blockchain-native, decentralized API service without the use of third parties. API3 allows smart contracts to establish direct connections with APIs and receive accurate and up-to-date information.  API3 thereby seeks to forego the problem of DApps not being able to receive services from traditional API providers in a decentralized way.

Since its launch, the project has struck partnerships with numerous blockchain projects including Fantom Opera Network, Glitch Protocol, Omen Prediction Markets, Plasm Network, Bird.Money, Open Bank Project, Sovryn, and Pocket Network. 

Deposit API3

What’s Harmony (ONE)?

It’s well known that Ethereum’s popularity has come with some scalability challenges. Opinions differ as to what the solution(s) may be but Harmony, a decentralized smart contract platform, hopes to plot  itself as one of them. Harmony offers quick transactions, low gas fees, and the ability to interact with other blockchains. Its native token, ONE, is used for paying transaction fees, for staking, and for taking part in the platform’s governance.

To achieve scalability, transactions need to settle quickly. Harmony attempts to do that by employing a method called state sharding, which breaks a chain into segments that process transactions and store data at the same time. Harmony has a thousand nodes spread across four shards, which work to produce new blocks every two seconds. Thanks to sharding, Harmony aims to process 2,000 transactions per second (TPS) and catch up to Visa, one of the world’s largest payment networks. 

Harmony has also been getting attention for its potential in the NFT space. The project’s Ethereum compatible blockchain supports all major NFT standards, including HRC721 and HRC1155.  Due to this hyper-connectivity, NFT owners now have the ability to display their assets in a variety of environments, most notably with the example of the Bored Ape Yacht Club passport. This technology, according to Harmony, “further confirms the web3 vision of a world with decentralized access and ownership of content enabled by NFTs.” 

Deposit Harmony (ONE)

THIS ANNOUNCEMENT IS PROVIDED FOR INFORMATIONAL PURPOSES ONLY. IT IS NOT INTENDED TO PROVIDE ANY INVESTMENT, TAX, OR LEGAL ADVICE, NOR SHOULD IT BE CONSIDERED AN OFFER TO PURCHASE OR SELL DIGITAL ASSETS. DIGITAL ASSET HOLDINGS, INCLUDING STABLECOINS, INVOLVE A HIGH DEGREE OF RISK, CAN FLUCTUATE GREATLY, AND CAN EVEN BECOME WORTHLESS. YOU SHOULD CAREFULLY CONSIDER WHETHER TRADING OR HOLDING DIGITAL ASSETS IS SUITABLE FOR YOU IN LIGHT OF YOUR FINANCIAL CONDITION.