Introduction
The blockchain when it was invented was poised to usher in the decentralized era by creating a universal community of people all over the world where monetary value can be exchanged between people without government interference and one in which the users are also incentivized for the part they play to create and power decentralized economies of the future through the blockchain.
For these decentralized economies to be successful the mere sense of decentralization is not enough and the blockchain platforms have to possess the same – if not more – practicality, usability, scalability, and security of the present centralized systems.
Bitcoin and Ethereum being the two major cryptocurrencies and blockchain are fully decentralized and very secure but at the expense of scalability as their transaction speed is very slow. Other blockchain projects have been created to counter the speed of transactions but most projects that have been able to achieve really fast transaction speed have done that either at the expense of security or true decentralization.
What Is Needed
It is important to remember that the blockchain technology is not all about trading cryptocurrencies and fast monetary transaction confirmations are not all that is needed. Consumer projects, decentralized applications, financial services, e-commerce platforms and a lot more will be created on the blockchain in a truly decentralized economy.
There will be a need for integration with other technologies, cloud storage and computing will be required.
In order to bring to life these decentralized economies and the true form of decentralization that was had in mind when the blockchain was first invented, there is a need for a blockchain that will be fully decentralized, secure and highly scalable. To achieve this, there is a need for a blockchain which possesses a consensus protocol that has deepsharding capabilities to massively improve scalability by spreading the transaction validation and storage requirements of the network over different connected nodes without sacrificing decentralization and the security of its blockchain.
Harmony is the blockchain that provides the much needed revolutionary solution to the aforementioned problems.
What Is Harmony
Harmony is an open fully decentralized marketplace that provides high scalability and a high-throughput blockchain to power decentralized economies of the future. Harmony is expected to provide a low-latency and low-fee consensus platform which will work essentially quicker than both Bitcoin and Ethereum but will also be way less expensive, while likewise having the option to work at a scale like Google by attaining a speed of up to 10 million transactions per second.
Why Should People Use Harmony.one?
What it offers users
There are a lot of reasons why I believe harmony is a good project for users to adopt. Below is an outline of some of these reasons
- Low Transaction Fees: Harmony low-fee consensus platform will feature a standard of a 0.1% maximum transaction fee, thus offering the users of the marketplace the best possible rates on the market.
- High Speed and Blockchain: The harmony.one blockchain possess a 10 million transaction per second speed. This is achieved through its use of state sharding which adapts to the increase in the throughput demand of the network by creating more shards. This enables the platform to be capable of parallelized transaction processing
- A Viable Product: Harmony is a genuine project and due to the need for high throughput blockchain projects in the crypto market, this is a project that has a use case which is actually needed. With the recent rise in low quality and scam projects in the crypto market, it is important for investors that any project asking to raise funds actually has a utility and as valuable use case and I believe Harmony passes this criterion.
- The Present Market Landscape: The present landscape of the crypto market shows that there are already some projects that offer high speed and scalable blockchain solutions with varying level of success.
Projects like EOS and Zilliqa are the most notable successful ones but none of these projects provides the solutions to the three major problems of blockchain projects (decentralization, security, and scalability) in the same way that Harmony.one does.
The importance of scalability is to the crypto market means that in spite of the presence of all these projects that aims to solve the same problem, there is yet still a big market for harmony. - Protect Team: Harmony is backed by a team of all-star professionals. The CEO and co-founder Stephen Tse has previous experience working at Google, Apple, and Microsoft and has also created the mobile search Spotsetter which was later acquired by Apple. The other Co-Founders and the other team members are all-star professionals with previous experience in the major tech companies in the world.
The Project team is equally as important as the project itself and whenever there is a great project, which solves a real problem, has a working technology and concept, and is backed by a highly reputable and experienced team I believe such is project is one worthy of adopting.
Harmony.one Token and Token Sale Details
The native token of the Harmony platform (ONE) will be used in the open marketplace to facilitate transactions and will also be a means of rewarding those who play significant roles on the network. The ONE token will be available for public sale through an Initial Exchange Offering (IEO) on the Binance launchpad on the 27th of May, 2019.
TICKER – ONE
IEO TOKEN PRICE – 1 ONE = $ 0.003175
IEO HARD CAP - $ 5,000,000
TOTAL TOKEN SUPPLY – 12,600,000,000 ($40,005,000)
IEO SUPPLY – 1,575,000,000 ($5,000,000 or 12.5%)
Conclusion
I believe that Harmony is a project that offers a lot in terms of technology and utility. Harmony aims to provide a solution to an existing problem in the crypto space and it is also backed by a reputable team.
This project, in my opinion, is one of the very top crypto projects presently and considering that the project is having its IEO on the highly rated Binance Launchpad, I am absolutely bullish on its chances and it is one I will be looking forward to.
Official Contacts
Website: https://harmony.one/
Whitepaper: https://harmony.one/whitepaper
Telegram: https://t.me/harmony_one
Medium: https://medium.com/harmony-one
Twitter: https://twitter.com/harmonyprotocol
Instagram: https://www.instagram.com/harmonyoneprotocol/
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If you like my article kindly drop your comment or question in the section below.
This is a very lovely project to look forward to
Harmony is the hottest project right now and you really shouldnt miss the IEO which will happen on the binance launchpad
Harmony is truly an revolution in the cryptocurrency space. Nice write up.
Truly revolutionary is among the many words that accurately describes Harmony.one.
The present Proof of work bloakchains take too much energy to suatain and synchronizing each node takes too much time, not to talk of the payment confirmation period... So frankly it is not going to be used in daily activities.
This project looks like it just might be the real deal.
Yes Harmony is the real deal, it provides the much needed & effective solution to the blockchain trilemma and that is great for the crypto space
Sounds about right, although i believe for binance to be launching this project on their launchpad it has to be a top project
Binance is a reputable exchange. One of the best and they dont launch bad projects, so that is a good sign