Introduction
In the recent years the world has witnessed a revolutionary technology called Blockchain. It's immutable, incorruptible and unhackable nature makes it more superior than any other existing technology. Back in 2008 when the whitpaper of Bitcoin was released, the world has paid a special attention to it. Today many organizations and companies began exploring the use of Blockchain technology into their core working principles.
Today there are thousands of cryptocurrencies present in the market today. As well as upgraded versions of Blockchain are aiming to provide better and quality service than old Blockchain system. Blockchain is still at developing stage and many projects are emerging to provide efficient solutions.
Challenges
Blockchain's derivative cryptocurrencies are known as the future of financial transactions. Thus, the Blockchain network used for processing transactions need to faster, reliable, secured and cost effective. Earlier there were no options available other than Bitcoin blockchain network; which is having many issues related to scalability, transaction speed and transaction cost. Progressively Ethereum Blockchain came into existence with much better features than Bitcoin blockchain. It provides better security, scalability and smart contract features over PoS and PoW consensus. Later projects like EOS and IOTA provides DPoS and DAG with better advantages.
But still everything that we have is not yet perfect, the demand for faster transaction speed, high throughput, scalability, and reliability is increasing. It is not worth to sacrifice security and decentralization in order to achieve high performance. But now thanks to a handful of bright minded people, who are working hard to provide better Blockchain based solutions which can fulfill our needs. They have created a project called HARMONY.
About Harmony project
The main aim of the HARMONY is to provide sharding based next generation blockchain solution which is efficient, reliable, secured and most importantly scalable. HARMONY uses proven engineering practices and research based Blockchain solution in order to address the present issues and challenges.
Principle of operation
HARMONY is committed to provide scalable decentralized Blockchain solution to everyone. HARMONY uses sharding to scale up the blockchain network. The optimized solution offered by HARMONY are:
• in order to achieve blockchain scalability, HARMONY utilizes deep sharding. It includes network communication sharding and verifies the transactions like Zipliqa, at the same time it retains the original state of blockchain.
• HARMONY uses DRG (Distributed randomness generation) process to shard securely, thus sharding becomes provable, scalable, verifiable and unpredictable.
• it uses PoS based consensus algorithms over PoW. This helps to achieve 100 times faster validation with energy efficiency.
• with the use of adaptive PoS, stakes will be adjusted according to volume of nodes, this helps to eliminate any hacking attempts and also helps small stakers to stake and earn rewards.
• in order to make sharding more effective and efficient, it supports cross shard transactions.
Thus by summing up all HARMONY wants to provide secured, scalable and reliable decentralized blockchain solution for all. Thus, addition of Blockchain will become efficient and effective in decentralized exchanges, IoT devices, gaming and payment systems.
Team
Roadmap
Conclusion
HARMONY wants to make Blockchain solution more efficient, reliable, secured and feasible. It uses sharding to scale up the blockchain network and PoS consensus algorithms to validate the transactions effectively. This makes HARMONY consensus Protocol very much energy efficient. HARMONY plays an important role in accelerating the addition of Blockchain in every sector. It is worth to note that the project team has highly experienced professional from top companies like Google, Amazon, Apple and Facebook. This gives confidence in this project. It is necessary to give special attention that HARMONY will on Binance launchpad.
Finally I would suggest you to read the official whitpepaper of the project for more details. This project needs much public attention and I wish all the best for this great project.
Partners
Learn more about HARMONY:
Website: https://harmony.one
Read Whitepaper: https://harmony.one/whitepaper.pdf
ANN thread:
Telegram: https://t.me/harmony_one
Twitter: https://twitter.com/harmonyprotocol
Medium: https://medium.com/harmony-one
LinkedIn: https://www.linkedin.com/company/harmony-protocol/
Discord: https://harmony.one/discord
Instagram: https://www.instagram.com/harmonyoneprotocol/
GitHub: https://github.com/harmony-one
About Author:
Bitcointalk username: Abhijeetcg
Bounty0x: abhijeetcg
Bitcointalk profile link: https://bitcointalk.org/index.php?action=profile;u=1676105;sa=summary
ETH address: 0x96e95a1F40cf5a50178053740ADE18046815362d
Harmony wallet address: bnb1dpfg9zy0xj4p0ldwzva750uxkftgxltdlmxygn
