SCALABILITY is NOT a problem!

sidoroffalex (26)in #harmony • 5 years ago (edited)

The problem

Not so long ago, the world has found out the amazing blockchain technology, which can be applicable not only in finance sphere, but also in such areas like medicine, science, law, logistics and many others. For the first time the blockchain technology was implemented in 2009 in the form of digital currency known as Bitcoin. People immediately appreciated all the advantages of its decentralization and anonymity. But some important problems of further application and development of these projects was appeared with the dissemination of Bitcoin and then a huge number of other cryptocurrencies. The most actual problem of the development and implementation of technology to the masses is the scalability of the decentralized network. This problem prevents the integration in our everyday life spheres. Nowadays the best minds of the top projects and newbie's are working to solve this issue.

Decision

One of such projects is Harmony. This is a very perspective and promising project, whose goal is to solve the problem of scalability and decentralization. Harmony is a next generation sharding-based blockchain that is fully scalable, secure and energy efficient. At the core of the project is Omniledger (10k tx/sec, 1 sec latency), Google's UTP and Mosaic Pull-Reduce.
The Harmony project solves the problems of other blockchains with the help of research and engineering practice.

The sharding of the network communication, transaction validation and the blockchain state makes Harmony a fully scalable blockchain. Harmony has provably secure sharding process thanks to the distributed randomness generation (DRG) process which is unpredictable, verifiable and scalable. Harmony is energy efficient because it is based on PoS consensus algorithm . Consensus is reached with a linearly scalable BFT algorithm that’s 100 times faster than PBFT. Harmony can spread blocks quickly within shards or across network by using the Adaptive Information Dispersal Algorithm. Harmony supports cross-shard transactions with shards directly communicating with each other. An atomic locking mechanism is used to ensure the consistency of cross-shard transactions. Thanks to these innovating decisions Harmony ensure the world with a scalable and secure blockchain system. Different applications will be enabled which were not possible on the blockchain before, including large-volume exchanges, interactive games, larg-scale payment systems and IoT transactions. The team has already developed a new programming language Min and created a prototype compiler that has a higher degree of code reliability.
Main competitors of the project are EOS, Zilliqa, Hashgraph, Thunder, Dfinity, Kadena, Algorand, as they have similar idea of scalability. In 2019 the team plans to launch a mainnet and deploy a platform to 100 thousand nodes (100 thousand transactions per second).

Harmony's transport network is being designed based on the specifications of 10Gbps 5G mobile networks, which are capable of supporting the 100 billion connection worldwide and are already being tested in Japan and Europe.

Team

Harmony project has a very strong team consisting of a highly qualified staff in the field of blockchain, artificial intelligence, machine learning, virtual reality and compilers. Which, in turn, have extensive experience in such large companies as Microsoft, Google, Apple, Facebook, Amazon, Alibaba. All project staff have a quality education of the best educational institutions and have high academic titles in mathematics and computer science. Also, the Harmony project is reqruitng new employees of various specialties, so if you want to help the development of this cool project go here.