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Harmony Proposes Layer-1 Shutdown for Ethereum Migration

Guavy AI Editorial Team
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ETH ONE
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Harmony has proposed shutting down its Layer-1 network and migrating to Ethereum. This move would mean that Harmony's native token, ONE, would also be migrated to the Ethereum blockchain. The proposal suggests that this change could happen as early as March 2024.

The reason behind this decision is reportedly due to technical challenges faced by the Harmony team in maintaining its own Layer-1 network. By migrating to Ethereum, the team believes it will be easier to maintain and scale the network.

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