As those of us into blockchain would attest, consensus is a key element of any blockchain network. This has to do with the agreement reached by the network validators/miners regarding block productions.
The nature of consensus adopted by any blockchain network/project dictates how secure the network is and how fast its validators reach consensus on each block production. Presently, two consensus protocols have been identified on blockchain namely; Proof-of-Work (PoW) and Byzantine Fault Tolerance(PBFT) - the former of which is adopted by Harmony network.
Harmony network aims to empower decentralized economies by offering scalability and true decentralization to blockchain projects.
In its bid to solve consensus on a wider scale on blockchain, harmony employs high tech innovations in its networking algorithms and offers open infrastructure for blockchain projects with low latency. And by this,
"Harmony will enable applications which were not previously feasible on blockchain, including high-volume decentralized exchanges, interactive fair games, Visa-scale payment systems, and Internet-of-Things transactions. Harmony strives to scale trust for billions of people and create a radically fair economy." Source
Harmony is a proof-of-stake (PoS) based blockchain that offers scalability while ensuring security and decentralization for blockchain projects. Its high scalability feature ensures it executes thousands of transactions in a second.
Here are more reasons you should use harmony network:
- It offers secure and efficient sharding and resharding using distributed randomness generation process
- It guarantees fast and efficient consensus fostered by its PoS mechanism and scalable BFT algorithm.
- Supports cross-shard transactions
- Has scalable network infrastructures that ensure fast processing of blocks across different blockchain networks, etc
Harmony network is made of a team with good years of experience in digital technology and with a passion for blockchain technology. This team is leaving no stone unturned in ensuring that it delivers the best product possible within the field.
More information about harmony network can be found on their official website and whitepaper.
References: