Harmony - Open Consensus for 10 Billion People

toluene (47)in #crypto • 5 years ago (edited)

Introduction

In 2009, Bitcoin (the first ever cryptocurrency) was created by Satoshi Nakamoto, as the digital currency that will revolutionize the world financial system. Bitcoin is equipped with remarkable transaction benefits like security, anonymity, and decentralization.

As time elapses, the second cryptocurrency (Ethereum) was created in the year 2013 by Vitalik Buterin. It was a development in the Blockchain technology as it not possesses the features of Bitcoin, but also allows the integration of smart contracts into the Blockchain protocol (Utility Blockchain).

However, the Blockchain technology is progressively making waves in various institutions and sectors of the global economy because of it decentralized nature and successful solution it offers to even the most intricate of issues. Several enterprises like commerce and entertainment, Artificial intelligence, security, Data storage, etc have officially experienced significant effect of the Blockchain technology while the rest and not far separated. These have led to the creation of different cryptocurrencies with different features and purposes in different industries, all to form a big decentralized economy.

Despite the availability of thousands of cryptocurrency in the crypto space, none of them possesses the complete features of a decentralized project which are decentralization, scalability and high security. Take Bitcoin and Ethereum for instance, they are both very secured and decentralized, but not very scalable as they both possess 4.6 TPS and 15 TPS respectively. Though there are other cryptocurrencies that boost of better scalability but it is either at the expense of decentralization or security, as none has the complete package.

In other to boost of a successful decentralized economy, there is need for platforms that offer the complete Blockchain package (scalability, decentralization and security).

Introducing Harmony

Harmony is a completely decentralized Blockchain based project that offers users with a platform that possesses the complete Blockchain features (scalability, security, and decentralization) to power the world decentralized economy. Harmony platform will provide users with scalability high up to 10 million transactions per second along with low transaction fee. The objective of is to tackle present issues in the present issues plaguing the decentralized economy by creating a platform that will provide high security, scalability and decentralization.

Features of Harmony

There are a great deal of reasons why I trust harmony is a decent project for clients to embrace. The following is a layout of a portion of these reasons

Minimal Transaction Fees: Harmony low-expense consensus platform boast of a standard 0.1% highest transaction fee, which is by far the best rate any user will get.

Highly scalable Blockchain: Harmony possesses an amazing transaction speed per second that is up to 10 million transactions per second, which is enabled with the utilization of state Sharding that will adjust to the raise in demand of the network by building more shards.

Token and ICO details

The Harmony platform will utilize ONE token (Harmony token) as its main token use for facilitating transactions in the open market place and also as a means of compensating users for their important functions on the network. The ONE token IEO will be conducted on Binance on May 27th 2019.

Token Name: ONE

Token Type: ERC20

Price: $0.003175

IEO Hardcap: $5,000,000

Total supply: 12,600,000,000