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Harmony - an open infrastructure with high throughput, low latency and low-fee consensus platform to power decentralized economies of the future

The performances limitations that surrounded Bitcoin and Ethereum have given room for many projects in several attempts to increase the transaction throughput. EOS attempted this by focusing on the DPoS (Delegated Proof of Stake) where blocks are elected by voting rather than by a non-chain algorithmic process. IOTA embraced DAG (Directed Acyclic Graph) to break the limitation of processing transaction sequentially.

Harmony has come to address the problems of existing blockchain solutions that offer similar services which were unable to make optimal performance gains without sacrificing the most critical aspect among which includes decentralization and security. The proposing solution that harmony depends on which preserves decentralization and security is sharding which creates many groups refers to as shards for validators and allows them to process transactions concurrently. First similar blockchain projects that have attempted to address the scalability problem is Zilliqa, but failed in two major ways:

Zilliqa solution failed to divide the data in the blockchain storage which denied machines with limited resources to participate in the network which places a huge restriction on the purpose of decentralization.
The randomness generation mechanism embraced by Zilliqa is PoW which makes the sharding process vulnerable to a single shard take over attack due to this reliance.

Let’s delve in and take a look at the two most common algorithm used for establishing consensus in the cryptocurrency arena.

Proof of Work (PoW) and Proof of Stake (PoS)

PoW: This is a computer algorithm used in digital currencies to have a decentralized agreement when adding a block to the blockchain. Miners will add these transactions into the blockchain and this process is called mining but for this transaction to be included in the next block, the cryptography hash value and its status needed to know by the miner. In order to find this right hash of the last block, a computing power is required to change the block’s header and the miner in return receive a fraction of the coin they are mining. This process is competitive because the miner that solve the mathematical puzzle first is the one that get the entire block reward. The primary and major deficiency of PoW is that it has a high energy consumption and requires more computation power. Another concern about PoW is that at the long run, they become centralized because only large scale organisations will be able to handle the mining difficulty which allows them to mine more blocks and put the majority of the coins in the control of these few as against being spread out to the community. Studies has shown severally that maintaining and running rig of Bitcoin which is PoW based can cost as energy required to power millions of homes.

PoS: Proof of Stake is a strategy put in place to combat the shortfall of PoW due to mining being too resource intensive. This method is more eco-friendly and the consensus model bases its reward on the number oc coins you are able to store on the blockchain. Mining does not occurred here but rather minted or forged so that users can have coin to stake and the result of this is that the total coin is fixed from the start. Since Proof of Stake does not involves mining, high level of processing power is absent but will only require small amount of energy to remain operational. This empower investors to save more money since there is no need to re-investing in ASICs which required a periodic updates. PoS also offer a more fairer system. The gain acquired by users is promotional to the amount of his or her investment. If a user invests 20 times more into the stake, then he will get a reward of 20 times more as compared to PoW where if a miner invest into the hardware than others, they will gain more than 20 times the computational power than others which will definitely increases the difficulty and makes it less profitable for individual miners to compete.

Harmony is an energy efficient, provably secure, scalability and low-fee consensus platform designed to power decentralized economies of the future. What makes Harmony different from other projects that have attempted to offer similar solution are their level of breakthrough in the following areas:

Secure Sharding: Harmony does not relent on the communication over the network and transaction validation but also shards the state of the blockchain
Fast Consensus: Since Harmony is based on PoS as against other competitors like Zilliqa which rely on PoW, this validate their energy efficient and this make it possible to reach a consensus with a linearly scalable BFT algorithm that is 100 times faster than PBFT.
Adaptive-Thresholded PoS: Harmony provides great opportunity for small stakes as the threshold is small enough to partake in the network and earn rewards. Most importantly, the threshold for a node to participate in the network is adjusted automatically based on the volume of total staking which make it impossible for malicious stakers to concentrade their power on a single shard
Scalable Networking Infrastructure: With the RaptorQ fountain code , Harmony propagate quickly across network by using the Adaptive Information Dispersal Algorithm. Harmony also embraced Kademlia routing to achieve cross-shard transactions that scale logarithmically with the number of shards.

Investors in Harmony


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Harmony will be the next project on Binance Launchpad

Binance has chosen Harmony Protocol as their preferred project for the next Initial Exchange Offering (IEO). The CEO of Binance; Changpeng Zhao says he believe in the commitment of the team with resilience for an open infrastructure based on blockchain technology for billion of people and allow for significant contributions in addressing the issue of scaling. Details about the IEO and the requirement for participation can be found on the official announcement of Binance Exchange and summary can be found below:

Launchpad Session Time: 2019/05/27 06:00 AM (UTC) to 2019/05/29 08:00 AM (UTC). Recording of BNB balances starts at 2019/05/19 23:59:59 (UTC).
Token Name: Harmony (ONE)
Hard Cap: 5,000,000 USD
Total Token Supply: 12,600,000,000 ONE
Total Tokens Allocated to Binance Launchpad: 1,575,000,000 ONE (12.5% of Total Token Supply)
Public Sale Token Price: 1 ONE = 0.003175 USD (price in BNB will be determined on the lottery draw date)
Token Sale Format: Lottery
Max Number of Winning Lottery Tickets: 16,666
Allocation Per Winning Ticket: 300 USD (94,488.18 ONE)
Supported Sessions: BNB only
Harmony (ONE) will be issued on Binance Chain as a BEP2 asset.

Binance LaunchPad is coming with an improved and more condensed lottery schedule. You can join any of the social media channel of Harmony at the footer of this page for updates. With this, the demand for the sharding event will increase progressively.

Harmony CEO, Stephen Tse in a vibrant panel about Platform Wars and Privacy Protection in Blockchain at the New York Block Plus Summit!

Harmony is hard at work with YouTube creator Kevin Shen to design the launch video for Harmony Puzzle Game

Epic lunch with @markfriedler (https://twitter.com/markfriedler), 3x founder, coach & co-founder @sfcryptomondays 1,000-member strong BUIDLers in bay area.

Lessons learned:

build something people want. useful product > pure tech
give people purpose & recognition (and candor)
market timing determines outcome

Harmony Team (with car plate “HMY ONE”) in Silicon Valley Office

Great and competent team behind evolution of Harmony

These are experienced engineers, researchers, developers from top notch institutions which includes Amazon, Microsoft, Apple and Google has teamed up together to build an open consensus for 10 Billion called Harmony.

Stephen Tse, Founder - has been obsessed with protocols and compilers since high school. He reverse-engineered ICQ and X11 protocols, coded in OCaml for more than 15 years , and graduated with a doctoral degree in security protocols and compiler verification from the University of Pennsylvania.

Nicolas Burtey, founded a VR video startup in 2012 that grew to 40 people and raised $10m. Orah served the needs of thousands of professional content creators in 70 countries by selling GPU-driven live stitching software and 360° cameras.

Alok Kothari, worked on deep learning models for natural language understanding at Apple’s Siri. He conducted research in natural language processing, information retrieval machine learning and published at top conferences like SIGIR, ICWSM and EMNLP. His research paper won the best dataset award at ICWSM 2013.

Rongjian Lan, was a search infrastructure engineer for Play Store at Google. He published over 10 academic papers on spatio-temporal querying and map-based visualization. Rongjian started researching on decentralized protocols since early 2017.

Minh Doan worked on Google’s Assistant, Play and Plus for 5 years. He was a former champion at USA Computing Olympiad Open and many other Informatics Olympiads. Minh holds the patent for “Publisher Click-Ring Fraud Detector” at Google.

Nick White holds bachelor’s and master’s degrees in electrical engineering from Stanford University, where he focused on signal processing, optimization and control. As a graduate teaching assistant at Stanford, he researched artificial intelligence and applied mathematics with Prof. Bernard Widrow.

Sahil Dewan is a graduate of Harvard Business School, where he served as president of the blockchain and cryptocurrency club. He has worked at Draper Dragon Fund and advised several blockchain projects.

Leo Chen led a team of 8 engineers at Amazon Web Services. There he built high-throughput storage virtualizations for more than 200k EC2 instances. At Amazon Lab126 , Leo built the first generation of Kindle Fire and architected FireOS for all Amazon devices. At Ericsson and Broadcom he worked on their Linux kernel, embedded systems and large-scale distributed systems.

Eugene Kim developed advanced networking protocols during his 15-year tenure at NTT and his 3 years in the networking infrastructure division of AWS. Eugene also built server-side software at Activision Blizzard for the next-generation MMORPG that eventually became Overwatch.

Li Jiang has founded a logistic startup during college with the highest revenue. During his six years at GSV Capital, Li organized Pioneer Summit and Global Education Summit with 1,500 attendees including Bill Campbell and Barack Obama.

Chao Ma was a machine learning scientist at Amazon. He worked on marketplace abuse prevention, retail products pricing and natural language processing. Chao implemented an IPFS prototype in early 2017.

Helen Li, Bio ImageHelen Li was a chief writer at CBN Weekly and senior journalist at Bloomberg Business Week. For over a decade, she interviewed tech leaders including the founders of Lenovo and Baidu and wrote over 50 cover stories for CBN Weekly. Since 2018, Helen has led PR & marketing for blockchain projects in both China and the U.S.

Harmony Roadmap 2018 - 2019

Ensure you follow the development of this awesome project via any of the following social media as more features are deployed at a very fast space.

Wallet Address: bnb1986kxprhkj8s8k7gapdngjkgyqxsnvpp9rc8wf