Harmony

The blockchain assists businesses createin creating marketplaces of fungible tokens, like energy credits and loyalty points, and of non-fungible assets, like game collectibles and real estate. Harmony is applying zero-knowledge proofs for data sharing. Industry use cases include ad exchanges, credit ratings, and other data consortia.

Harmony utilizes the Verifiable Random Function (VRF) for shard membership. Nodes and validators are randomly assigned and re-assigned. The blockchain's Horizon bridge enables crypto holders to move assets between Harmony's network and the Ethereum network, Binance Chain, and Bitcoin. In June 2022, after two of five validator nodes were compromised, Harmony's bridge was exploited for about $100 million in altcoins, which the hacker then swapped for Ethereum.

Harmony is a blockchain with state sharding and peer-to-peer networking features. Its sharding utilizes proof-of-stake and decentralized randomness, and its networking enables cross-shard routing and block propagation.

The blockchain assists businesses create marketplaces of fungible tokens, like energy credits and loyalty points, and of non-fungible assets, like game collectibles and real estate. Harmony is applying zero-knowledge proofs for data sharing. Industry use cases include ad exchanges, credit ratings and other data consortia.

Harmony utilizes the Verifiable Random Function (VRF) for shard membership. Nodes and validators are randomly assigned and re-assigned. The blockchain's Horizon bridge enables crypto holders to move assets between Harmony's network and the Ethereum network, Binance Chain and Bitcoin. In June 2022, after two of five validator nodes were compromised, Harmony's bridge was exploited for about $100 million in altcoins, which the hacker then swapped for Ethereum.

Harmony is a blockchain platform designed to facilitate the creation and use of decentralized applications (DApps). The network aims to innovate the way decentralized applications work by focusing on random state sharding, which allows creating blocks in seconds.

Stephen Tse is the founder and CEO of Harmony. He has a Ph.D. from the University of Pennsylvania, specializing in cryptographic protocols and type theory.

While finishing his degree, Dr. Tse became a research intern at Microsoft. In 2006 he started working as a senior engineer at Google, spending four years in the company. In 2011 he founded Spotsetter, a successful search engine which Apple later acquired. In 2014, Dr. Tse became the principal engineer for Apple.

He founded Harmony in 2017. The Harmony founding team comprises twelve people, with seven of them being former employees at Google, Apple, Microsoft, and Amazon.

Focusing on processing speed and validation, the Harmony mainnet aims to revolutionize block creation. By introducing the sharding process, the company reduced node validation times significantly.

To ensure the protection of nodes and secure the validation process, Harmony introduced the Verifiable Random Function (VRF) for unbiased and unpredictable shard membership. This means that nodes and validators are assigned and re-assigned in a randomized manner.

The project’s Harmony Grants program is an initiative that aims to support innovation and attract developers to the Harmony mainnet.

Harmony’s interoperability frees users from being locked on a single platform. The future of web3 is a multi-chain ecosystem, and Harmony’s bridges can connect any Proof-of-Work and Proof-of-Stake chains.

Harmony (ONE) has a maximum supply of 12,600,000,000 tokens. As of February 2021, the circulating supply on the market is about 9,486,327,268 ONE.

Out of the total supply of ONE tokens, 22.4% were dedicated to the initial seed sale. Another 12.5% were set aside for an additional Launchpad sale. The Harmony founding team and developers received 16.9% of the total supply. About 26.4% of ONE tokens were dedicated to protocol development, while another 21.8% were directed towards ecosystem development.

Harmony introduces a new version of the proof-of-stake (PoS) consensus. Called effective proof-of-stake (EPoS), this method allows simultaneous staking from hundreds of validators. This consensus method was developed in accordance with the sharding concept utilized in the Harmony network.

Unlike proof-of-work (PoW) consensus mechanisms, EPoS is designed for faster processing times and improved scalability. While PoW requires a lot of electrical and computing power, staking consensus methods rely on an abundance of value holders, who become validators.

Harmony is also looking to boost staking incentives to attract more node operators. The Harmony Open Staking initiative encourages interaction with the network and incentivizes stakeholders with the highest amount of ONE tokens.

Harmony (ONE) tokens can be purchased on most big exchanges, such as:

• Binance
• MXC.COM
• Huobi Global