source
When Bitcoin's official whitepaper was released by its founder whose identification is still anonymous, it was written that the currency will serve as a peer-to-peer electronic cash mechanism which could also be seen as electronic cash. What this means is that the currency will serve as both fiat and digital currency that can be traded against other currencies.
Following the schematics of how Bitcoin will operate, blockchain technology was launched also. Blockchain technology serves as the backbone for cryptocurrency, in terms of security, decentralization, scalability, and transparency. At the time of drafting this report, Blockchain technology is arguably the biggest ground-breaking innovation that has what it takes to completely impact any industry. the firm, organization with its disruptive nature.
That being said, some numerous inventions and projects have surfaced the space with the help of Bitcoin and blockchain technology. Amidst others, one of which we will be looking at tonight is no other than HARMONY.ONE
Harmony could be seen as a fully scalable, efficient, hierarchical, and secure blockchain-based on sharding technology. With that being said, Harmony is arguably the next-generation sharding-based blockchain innovation that boasts of being scalable, hierarchical, secure and more efficient.
Among others, one of the ins and outs of Harmony is because it addresses the quandaries and problems related to the existing blocks. Harmony will tackle this quandary by merging the best research results in an ideally tuned system.
Below are some features of this incredible innovation:
Completely scalable: In truth, doesn't just shard transactions or network communication like zilliqa, rather it shards the blockchain space. An innovation possessing all these, it's quite safe to say Harmony is a fully scalable blockchain.
Fast and effective: Contrary to how other sharding-based blockchains that require low PoW in terms of selecting validators. Well for Harmony, that isn't the same, Harmony is based on PoS and thus it's safe to say it's speed and efficiency is topnotch.
Secure Sharding: Harmony’s sharding process is provably secure thanks to the distributed randomness generation (DRG) process which is unpredictable, unbiaseable, verifiable and scalable. Harmony also reshards the network in a non-interruptive manner to prevent against slowly adaptive byzantine adversaries.
Scalable Networking Infrastructure: With RaptorQ fountain code, Harmony can propagate blocks quickly within shards or across the network by using the Adaptive Information Dispersal Algorithm. Harmony also adopts Kademlia routing [37] to achieve cross-shard transactions that scale logarithmically with the number of shards.
For more information and technology, please head over to their official whitepaper for more information and resources https://harmony.one/pdf/whitepaper.pdf
Disclaimer:
Investing in cryptocurrency is akin to being a venture capital investor. The cryptocurrency market is available worldwide 24 x 7 for trading with no market close or open times. Please do your own risk assessment when deciding how to invest in cryptocurrency and blockchain technology. KuCoin attempts to screen all tokens before they come to market, however, even with the best due diligence, there are still risks when investing. KuCoin is not liable for investment gains or losses.
Official Website: https://harmony.one/