INTRODUCTION:
Blockchain ideology has gained significant spread across the globe but it adaptation has suffered some setback, in the same manner, decentralized money and applications are becoming well-pronounce phenomenon but it design have some challenged limitations to the core aspiration of users. The first initiative of this development was design to function as a peer-to-peer payment system that allows people to transfer value without intermediaries like banks or payment processors. Be that as it may, as Bitcoin fame began to grow, its bottleneck ended up becoming obvious because of its constraints and throughput of exchanges every second (TPS), and its expense as an installment framework turned out to be restrictively costly.
Zilliqa was the first principal open blockchain that proposed to address the versatile challenges that surround decentralize commercial transactions through sharding. Be that as it may, Zilliqa's sharding approach experience two critical difficulties that turned into a limitation to its proficiency. These constraints are;
It does not divide the storage of blockchain data (state sharding). This prevents machines with limited resources from participating in the network, thus curtailing decentralization.
Zilliqa’s sharding process is susceptible to a single-shard takeover attack due to its reliance on PoW as its randomness generation mechanism.
The aforementioned constraint has prompted the introduction of a next-generation sharding-based blockchain that is fully scalable, provably secure, and energy efficient. Harmony can also be seen as an efficient and effective sharding-based blockchain initiative that addresses the problems that engulf the existing platforms by combining the best research results and engineering practices.
HARMONY PROJECT
Harmony protocol is a project that appears to be gaining increase promotion within the blockchain community because it serves as a high volume information commercial center.
What then is harmony?
Harmony is a high throughput blockchain project that intends to change the world into an open commercial center, by bolsters the coming of a decentralized economy by working at a very high scale. The initiators of this platform aim to provide a consensus protocolover the open internet that is able to facilitate 10 million transactions per second (tps) with a 100-millisecond latency and a maximum fee of 0.1%.
The group intends to construct a stage that works essentially quicker, faster and less expensive than both Bitcoin and Ethereum, while additionally having the option to work at a scale like Google. Therefore, they are set to reconstruct the decentralized economy by concentrating on and advancing various key existing segments, such s; transportation,!
THE UNIQUE FEATURES OF HARMONY PROJECT
Harmony as an innovative technology has some crucial and unique features that have to distinguish the platform from other platforms. These unique features haven given Harmony an upper hand in the blockchain community.
Secure Sharding: Harmony's sharding procedure is a provably secure process which is flighty, unbeatable, undeniable, verifiable and scalable. Additionally, harmony platform also reshards the system in a non-interruptive way to anticipate against gradually versatile byzantine foes.
Fully Scalable: Harmony shards both the network and the entire system correspondence and exchange validation and approval like Zilliqa, yet in addition harmony also shards the blockchain state. This makes Harmony a completely adaptable blockchain.
Consistent Cross-Shard Transactions: Harmony bolsters cross-shard exchanges with shards legitimately speaking with one another. A nuclear locking component is utilized to guarantee the consistency of cross-shard exchanges. By improving on both the convention and system layers, Harmony furnishes the world with a versatile and secure blockchain framework that can bolster the power decentralized economies of the futureHarmony will empower applications which were not beforehand possible on the blockchain, including high-volume decentralized trades, intelligent reasonable recreations, Visa-scale installment frameworks, and Internet-of-Things exchanges. Congruity endeavors to scale trust for billions of individuals and make a profoundly reasonable economy.
Efficient and Fast Consensus: Unlike other sharding-based blockchains which require PoW to select validators, Harmony is based on PoS and thus energy efficient. The consensus is reached with a linearly scalable BFT algorithm that’s 100 times faster than PBFT.
Adaptive-Thresholded PoS: The threshold of stakes required for a node to join the network is adjusted based on the volume of total staking in a way that malicious stakers cannot concentrate their power in a single shard. Moreover, the threshold is low enough so that small stakers can still participate in the network and earn rewards.
Scalable Networking Infrastructure: With RaptorQ fountain code, Harmony can proliferate blocks quickly within shards or cross-wise by utilizing the Adaptive Information Dispersal Algorithm. Harmony additionally embraces Kademlia steering to accomplish cross-shard exchanges that scale logarithmically with the number of shards.
Conclusion:
Harmony adopts a different approach in preventing an attack from other existing platforms such as Bitcoin, Ethereum and Similar sharding-based blockchains like Zilliqa and Quarkchain that uses PoW to prevent Sybil attack. Harmony uses proof-of-stake (PoS) as the validator registration or Sybil attack prevention mechanism. In order to become a Harmony validator, prospective participants have to stake a certain amount of tokens to be eligible.
To find out more harmony visit any of the links below;
https://twitter.com/harmonyprotocol
https://harmony.one/whitepaper
https://www.linkedin.com/company/harmony-protocol/
https://medium.com/harmony-one
Author: cryptoboss255