Harmony Proposes Shutting Down Its Layer-1 Blockchain and Moving ONE to Ethereum
(45 days ago) · 1 source · Summarized by CryptoBipto
Harmony, the team behind the ONE token and its own layer-1 blockchain, has proposed shutting down its independent chain and migrating the ONE token to the Ethereum network. The proposal would effectively end Harmony's operation as a standalone blockchain. Details about the timeline and governance vote process have not been fully confirmed.
WHY IT MATTERS
A layer-1 blockchain is like a standalone highway system — it has its own rules, its own toll collectors (validators), and its own traffic. Ethereum is the largest and most established of these highway systems in crypto. Harmony built its own highway but is now proposing to close it down and move all its traffic onto Ethereum's roads instead. For the ONE token, this would mean it stops being the native currency of its own network and becomes just another token living on Ethereum, similar to how thousands of other tokens already operate there. This story illustrates that not every blockchain project survives long-term, and some eventually consolidate onto larger, more established networks.
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- cointelegraph.com
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