The global economy is inescapably moving towards digital eco system.
CryptoCurrencies is the most leading digital economy these days. It is the easiest way to send,store, recieve and trade digital currencies. It makes people's effort effortless. It makes transactions paperless. It is basically a medium of exchange like normal currencies that uses secure financial transactions and verify transfer of assets. Over last years, It is acting like a magnet, attracting many people to its side. The most common reason why crypto is in trend is that, this exchange is fraud proof and can be accessed easily.
LET'S WELCOME HARMONY
Harmony is a PoS blockchain that is capable of linear scaling, enabling unprecedented transactions per second with the ability to easily scale as the network becomes heavily utilized.It takes decentralization to a completely new level. It is the most decentralized form of staking powered by optimized sharding technology.
The first fully sharded PoS blockchain, the mainnet was launched on june 28th, which had 600 nodes making it one of the top decentralized networks.
It is basically a sharding based blockchain. The achievements of this growing networks are
- It is fully scalable which means that the storage requirements are less restrictive and it even process and keep record of the network.
*It has secure sharding which is unbiasable,unpredictable ,verifiable and scalable.
*It is fast and energy efficient than pow alternatives.
*It has adaptive threshold PoS which include stalking requirements like malicious stakeholders cannot concentration on single shards and the threshold is low enough to allow participation.
*It has scalably networking infrastructure.
*It has a record of consistent cross shard transactions.
WHAT IS SHARDING?
It is a process to divide a database's computational responsibilities into smaller segments, which are known as shards. which carry out their respective tasks making burden of computation smaller, which are easier to process.
WHAT IS HARMONY'S SHARDING?
The technique of shard came from Ziliqa network.Harmony has learned from both industry and academia in developing its own linearly scaling, and probably secure sharding scheme.
Harmony contains two kind of chains: a beacon chain and a multiple shard chain. A beacon chain is an identify register derived from a randomness generator.It itself processes transactions like the standard shard chains,It also have two feaatures, it generates the random numbers which influence validators are assigned to which shards, and it accepts the stakes of the stakers. And on the other hand, store seperate blockchain states and process transactions.
RANDOMNESS IN THE SHARDING PROCESS
It is the style of sharding that harmony and other industry and academic leaders have determined to be the most secure. In this sharding, a random number is mutually agreed upon to determine the sharding responsibilities for each node.
EPOCHS:SHARDING TIME INTERVALS
it is a time interval in which sharding conditions are fixed. when one epoch ends and other start the conditions change. this is to secure the network.
PANGEA AND ITS GOALS
It is an experimental zone for thousands of people to interact with the harmony network,test the limitations of our technology and have lots of fun while earning rewards.
Its Goals Include
*Test harmony's upcoming core protocol milestones and updates.
*Set up and on board a vast number of nodes.
*Identify and award community members.
COMPARISION OF HARMONY
This is a comparision of harmony with the other leading PoS blockchain which clearly states that a sharded PoS system is the best tradeoff between speed and fair consensus.
HERE'S A VIDEO TO KNOW MORE
HARMONY'S TEAM
Without the effort of these people, harmony would not be at this place where it is now. Lets appreciate theitr hard work to give harmony a remarkable place.
The names of these great people are: Minh Doan,Nick White,Sahil Dewan,Leo Chen,Eugene Kim,Li Jiang,Chao Ma,Helen Li,Garlam Won,Mary Dansker respectively.
REFERENCES TO HARMONY
Harmony Website
Harmony OnePager
Harmony WhitePaper
Harmony Medium Blog
Harmony Telegram Group
Harmony Twitter
Harmony LinkedIn
Harmony Instagram