The goal of the Harmony network is to completely facilitate data transfer and transaction confirmation at low cost and high speed.
At Harmony, they claim they want to solve the problem of slow transactions faced by Bitcoin, high fees for transactions faced by Ethereum.
They try to achieve this through a process called “sharding” (a process in which a large database is split into smaller units for easier processing). With the help of the sharding process, Harmony will enable faster production of blocks on its own chain.
The network has its own ONE token which is used as a means of payment and for various activities within the network such as payment of fees and use of coins as voting power for changes within the Harmony system.