These include dApps such as decentralised exchanges, high-throughput payment systems and Internet-of-Things transactions. They have built in a number of important innovations into their Consensus Protocol, internal systems and network engineering.īy implementing these innovations, Harmony will provide a platform for Decentralised Applications (dApps) which were not feasible on other blockchains. In order to achieve the goals of scalability the Harmony built the entire technology stack from the ground up with a focus on optimisation. It’s been a busy year at Harmony, so let’s dig in and explore some of the details of the progress being made. The project has also been able to migrate from the ERC-20 and BEP-2 tokens originally issued to its own native tokens.įinally, the project has implemented a staking system based on Effective Proof of Stake (EPoS). This incentivizes users and could be used for credit ratings, ad exchanges, and other data sharing that’s traditionally seen centralized platforms profiting and users being left with nothing.Īfter launching its mainnet in June 2019 Harmony has seen excellent growth, and as of June 2020 there are more than 1,000 nodes helping to decentralize the network. Harmony also uses its zero-knowledge proofs to enable data sharing with consumer privacy. In practice, Harmony helps businesses to build marketplaces for fungible token usage (such as loyalty points or energy credits) and non-fungible assets (such as in-game digital assets). Harmony also implements optimal cross-shard routing and fast block propagation. The technical focus of the project is on resharding and secure staking with decentralized randomness. They plan to address the issues faced in other blockchain ecosystems through the use of the best research and engineering practices in an optimally tuned system. Harmony provides a high-throughput, low-latency and low-fee consensus platform designed to power the decentralized economy of the future. I will also analyse the long term adoption potential of their ONE token.
I will dig into their technology, team and development. In this Harmony review I will give you everything you need to know to make that decision. This after completing a large private seed sale back in May of 2018. They are also the latest project to be raising funds on the Binance Launchpad.
Using a "full-stack" approach, Harmony is developing a sharding based blockchain that is not only scalable but provably secure, and energy efficient. They have built their platform from the ground up with optimisation in mind. Harmony (ONE) is one of the latest projects that is trying to tackle the issue of blockchain scalability.
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