Hello all of you have come to my blogs channel. Today I will introduce you to the most potential project in 2019. This is a project that many investors pay attention to. The Harmony Project is a low-cost, low-latency consensus-based consensus platform to power decentralized economies in the future.
Introduction to Harmony
Harmony is a fast and secure blockchain . Their team is engineers, experts from big companies like goolge, Apple / Amazon and also PhDs with many years of experience in the blockchain world.
This is a decentralized platform to increase consensus. Recent Harmony has earned $ 18 million in seed rings. At present, Harmony project is aiming for a great goal to increase the blockchain to 10 million transactions per second and the delay of 100 milliseconds.
Harmony will provide 1,000 times speed and capacity for the next generation of a decentralized economy, enabling markets for 10B people and 100B devices. This is really the first goal Harmony aims for
Current challenges are set on blockchain technology
1. Energy consumption
Most blockchain networks are now the same and all have the same problem: complex network security issues and verification. These calculations must require a large amount of energy to use and will be expensive to succeed
2. Slow processing speed
Because of the complexity of the encryption mechanism of today's blockchain networks, the processing speed of transactions is still very slow and complex. Not to mention the protocols behind the era will take a lot of time to be able to handle them sometimes it takes all day. At that time it will be very inconvenient and not able to do anything
3. Security
Many projects use inexpensive technologies to create security layers. But they do not know that there are many sophisticated hackers who have found gaps in the computer structure to get in. At that time, without a multi-layer security layer, hackers would easily invade and steal assets.
Solution of Harmony
1. Consensus Protocol
Harmony's consensus protocol uses design principles such as shending and pipelining to parallel transaction processing. This allows Harmony to effectively handle connection latency and allow throughput to expand according to the scale of the network.
2. Systems
Harmony is developing a special, specific task to run our protocol with increased CPU performance and security. This will also allow a wider set of devices to participate in consensus for a more decentralized network.
3. Networking
Harmony will implement network engineering techniques to spread messages smarter and form consensus faster. Understanding network topology allows them to run a high concurrency protocol.
4. High security
The Shending-based blockchain projects (like Zilliqa, Quarkchain) use PoW as a voter authentication process that is vulnerable to 1% attack because an attacker can focus the power of his hash function into a fragment and check control. The use of Proof Of Stake allows Harmony to be easy & effective (using random sampling) to eliminate the possibility of an attacker concentrating the power of the hash function on the segment they choose, thereby eliminating the vulnerability. of 1% attack makes it a safe blockchain project.
Benefits of Harmony
Harmony helps businesses build marketplaces of fungible tokens (energy credits, security offerings) and non-fungible assets (game collectibles, real estate). Harmony developing zero-knowledge proofs for data sharing (ad exchanges, credit ratings) while preserving the consumer’s privacy.
Through a combination of innovations studied in traffic networks, consensus protocols and system tools, Harmony will support consensus protocols for billions of users.
Now Harmony has released testnet 2.0 (explorer) in April 2019 and has deployed core features including FBFT consensus, Cuckoo rule sharing, smart contract, canceled string structure revoke. Mainnet launched at the end of the second quarter / early Q3 of 2019.
The core technique of Harmony
Harmony is a highly scalable blockchain, with minimal overhead and can prove safe to serve as the backbone of next-generation decentralized applications.
1. Highly scalable BFT consensus using BLS multi-signature
2. Secure distributed randomness generation protocol using VDF (Verifiable Delay Function)
3. Adaptive PoS-based sharding mechanism guaranteeing the network security
4. Kademlia routing and erasure encoding for optimal network usage
Harmony is a POS-based state-sharding protocol . Harmony’s consensus is a fast BFT algorithm which uses BLS multi-sig and scales linearly with the number of nodes . Harmony provides a provably secure source of randomness with the latest technology Verifiable Delay Functions (VDF), which guarantees the security of the shards and provides fair randomness to applications
Open source for community and developers
Now Harmony is expanding its business model by having long-term relationships with developers to promote the project and they have developed two modes of sustained operations:
1. For developers:
Harmony has been open source since January 2019 and has more than 2,700 commitments with more than 100 stars from the community. They actively participate in the Harmony Discference forum discussions at talk.harmony.one and on Discord. In Q1 2019, Harmony also announced a $ 1 million technical bonus on Gitcoin to build a full set of developers. Tools with the goal of being the most accessible platform for developers to build .
2. For business:
Harmony has collaborated to develop organically to use replaceable token (energy credit, security service) and non-fungal assets (collectibles, real estate). Many of their partners are long-term friends and collaborators and have a close working relationship with them. Harmony is currently developing partnerships with asset use cases, stablecoin, energy credit transactions, game collection and advertising.
The importance of open source
Open source is also important to build an ecosystem. If we want others to use Harmony to create decentralized applications or build additional services that integrate with Harmony like wallets, they need to be able to look inside and see how it works. The source makes it easy for people to extend the protocol and create the entire ecosystem around it.
Features included:
Basic consensus protocol with O(n) complexity
Basic validator server
P2p network connection and unicast
Account model and support for Solidity
Simple wallet program
Mock beacon chain with static sharding
Information disposal algorithm using erasure encoding (to be integrated)
Blockchain explorer with performance report and transaction lookup
Transaction generator for loadtesting
ROADMAP :
Harmony’s core team
. Stephen Tse: Google engineer, startup founder (acquired by Apple), UPenn CS Phd
. Nicolas Burtey: VR startup founder with $10M VC investment and 40 people, Math BS
. Alok Kothari: Apple Siri NLP engineer, Carnegie Mellon AI MS
. Rongjian Lan: Google Search engineer, Maryland PhD candidate
. Minh Doan: Google Voice AI engineer, Olympiad champion, UC PhD candidate
. Nick White: Zeroth AI specialist, Stanford EE BS & MSc
. Sahil Dewan: Edtech startup founder, Draper Dragon, Harvard MBA, CS BS
. Eugene Kim: Amazon/Blizzard/NTT network engineer, CS BS
. Leo Chen: Amazon AWS & Kindle engineer & manager of 8, CS BS & MSc
. Chao Ma: Amazon NLP & fraud engineer, Math PhD
. Li Jiang: logistics startup founder, Global Tech/Education Summit organizer, GSV Capital
Full team profile: https://harmony.one/team/
Current investors :
. Blockchain Assets | https://www.bca.fund/
. BTC12 Capital | https://btc12.com/
. Consensus Capital | http://consensuscapital.ca/
. Continue Capital | https://continue.capital/
. Hayek Capital | http://hayek.capital
. HM Capital | https://hm.capital/
. Lemniscap | https://lemniscap.com/
. QTUM | https://qtum.org/en
. Skunk Capital | https://skunk.capital/
. UniValues Associates | https://uva.fund/
Conclude :
The project converges all the important factors that lead to success.
For example :
_ Experienced team
_Clear project development roadmap
_Many large investors have invested in the project
_ Practical technology for users
_Quick support team
_Solid foundation
_ Media spread everywhere
This is definitely the most outstanding project in 2019. I have studied the project very well and will accompany Harmony. Please join me in building a project that can change the current crypto market
Further details about the project can be found here :
https://twitter.com/harmonyprotocol
https://www.linkedin.com/company/harmony-protocol/
https://github.com/harmony-one
https://twitter.com/harmonyprotocol/status/1092543532513062912
- harmonyprotocol