Harmony Proposes Sunsetting Layer-1 Network and Migrating ONE to Ethereum

Harmony has put forward a proposal to wind down its native layer-1 blockchain. Under the new strategy, the ecosystem aims to migrate its native ONE token to the Ethereum network.

This transition follows a security breach that hit the network several weeks ago. In the aftermath of that exploit, plans were introduced to invalidate approximately 109,000 transactions.

Major network shifts like this underscore the importance of self-custody, as holding your own private keys ensures you maintain direct control over your funds throughout token migrations.

Source: Cointelegraph