Harmony

Harmony is a blockchain platform designed to make it easier for developers to create decentralized applications. This information is from​ catalogue CryptoDeFix. Projects created on the ONE blockchain have high transaction speeds, low fees and scalability. The network was launched in 2019 and uses sharding technology at its core.

The Harmony network is built on the Effective Proof of Stake (EPoS) consensus mechanism. Harmony aims to solve the blockchain trilemma of combining the three main qualities of security, scalability and decentralization. To do this, the network uses a consensus mechanism and sharding. Also, the main difference from other blockchains is the presence of a system of cross-chain finances, users can conduct transactions with tokens of Ethereum, BNB, Bitcoin and other networks with the help of bridges.

Sharding in Harmony helps provide the network with scalability, decentralization and security. The network is divided into 4 parts that run in parallel. To distribute the load, the user can choose the type of shard they want. It is a validation, transaction, block creation and staking shard. ONE, Harmony’s native token, is used in intranet fees, is a reward for a validator or delegate for block creation and is used in staking.

Harmoby specifics

• High speed of transaction processing
• Security through the DRG algorithm
• Project scalability
• Use of bridges
• ONE token staking