What is Harmony (ONE)?
Harmony (ONE) is a decentralized blockchain platform. It was built with the purpose of fixing the scalability problem of blockchains that are encountered. Blockchain Harmony promises extremely fast transaction speeds, up to 10 million transactions per second and a delay of only 0.1 seconds. This goes far beyond what a Blockchain can convey at the moment. And it even goes beyond the ambition of platforms that are now considered highly scalable.
What is token ONE?
ONE is a native token in the Harmony ecosystem. The ONE coin was issued as BEP2 and is in the Testnet phase.
Cases of using ONE tokens
The Harmony ecosystem is scalable. Fast transaction speed thanks to the use of native tokens in various forms of payment (staking, transaction fees, voting and network administration).
Harmony – ONE token will work in the following aspects of the protocol:
- Used for staking, it is essential to participate in POS consensus, earn block rewards and reduce transaction fees.
- Used to pay transaction fees, gas and storage fees.
- Used to vote for on-chain governance of the protocol.
Features of Harmony
On the Protocol layer, Harmony uses a PoS consensus mechanism based on the Sharding Protocol, which can increase the number of nodes on the network.
According to the team dev, each sharding has hundreds of nodes, using the BFT algorithm to achieve consensus in seconds.
Transport Network: On the Network layer, Harmony uses QUIC protocol to help transmit information faster.
The technology uses the OmniLedger PBFT consensus mechanism and QUIC network transmission protocol to provide good security.
System tools: This is the system of tools used by Harmony to eliminate unnecessary obstacles during the protocol implementation. In this early stage, the dev team wants to focus on building Harmony as Blockchain for both Fungible Tokens (Energy Credits, Security Offerings) and NFT Token (non-fungible Tokens – collectible cards in games, real estate, ..).
Harmony’s goal is to become Blockchain platform for data sharing dApps, Supply Chain, NFT Token in the Game…
Stephen Tse is the founder of the project. He has research experience at Microsoft Research, senior infrastructure engineer at Google, main engineer for search ranking at Apple. He founded mobile search firm Spotsetter with venture capital funding from organizations; Apple then acquired the startup.
Rongjian Lan is an infrastructure engineer for Play Store at Google. He has published more than ten research papers on space-time queries and map-based displays. He is the co-chairman of ABC Blockchain Foundation with more than 100 members who are engineers from Google, Facebook and LinkedIn.
Nick White holds a bachelor’s and master’s degree in electrical engineering from Stanford University, where he focuses on signal processing, optimization, and control. Postgraduate teaching assistant at Stanford. He has studied artificial intelligence and applied mathematics with Professor Bernard Widrow.
Sahil Dewan graduated from Harvard Business School, where he used to be the president of the blockchain and cryptocurrency club. He has worked at Draper Dragon Fund and advised on a number of blockchain projects.
Harmony’s dev team is ambitious because they set a goal to create a Blockchain platform with 10 million transactions per second, enough power and infrastructure to serve 10 billion people, and 100 billion devices in the future. Harmony Token’s buying needs are likely to increase as their Blockchain network expands and attracts more and more dApps on its platform.
Harmony is a project carefully selected by Binance to join Binance Launchpad. And surely this also helps investors to be assured of the assurance and quality of this project.