Harmony One: Blockchain for Decentralized

Mei 12, 2019

Introduction

Over the past decade, the crypto money economy has gained a lot of value. With this rise that started with Bitcoin, different technologies were introduced to us. The revolution of money, which first started with Bitcoin, began to change shape with the advent of Ethereum. Many crypto currencies with quite different characteristics entered the market. Some networks support file usage and sharing, while others have turned to channels such as the gaming industry. Nowadays, the main reason why more than 2500 crypto currencies are introduced to the market is the Ethereum block chain.

Bitcoin had enough speed and equipment for the market in its early years. With this technology, which has a Pow consensus algorithm, people realize that digital money can be transferred to the minimum wage in 7 to 24 hours. This system, which has largely disarmed the banks and is known as the technology of the era, currently carries out only 7 operations per second. Considering that this system is often compared to Visa and Mastercard, we see that there are many ways to get bitcoin technology. With the advent of Ethereum in the following years, it became easier to build intelligent contracts on this system. But in this system, its disadvantages were born. The approval process for the realization of each operation in the Ethereum blockchain with large data traffic is 15 tps. Over time, this network has come to a halt with increasing traffic. Ethereum, which has recently solved the scalability problem through the Constantinapole update, still fails to show the desired performance.

What is Harmony?

The Harmony team, evaluating the performance structures in the existing blockchains, inspired the projects realized in the previous periods and introduced a rapidly scalable blockblock model to our lives. The main source of inspiration for the project is Zilliqa, which is recognized by the cryptocurrency market. Harmony aims to find solutions to the scalability problem with the sharding consensus algorithm, leading to many innovations like powering decentralized economies of the future

What does Harmony Algorithm Offer to Blockchain Technology?

First of all, the team has developed their consensus algorithms to find a solution to the problem of trust in crypto technologies known as Byzantine generals. It presented solutions to the problems affecting the security of crypto technologies such as the abuse of data from different sources of information in the Byzantine generals problem and 51 attacks. It gives all supporters low-fee consensus platform

Random solution

To block the system in general blockchain technologies, hackers are constantly making efforts. It has the capacity to eradicate a power system that is largely dominated by the mining infrastructure. In Harmony technology, each process occurring in the block is determined randomly and not in a repeat order.

Double Signature Technology

One of the security vulnerabilities in Blockchain technologies is that the blocks are managed by one person. Blockchains like Ethereum want to implement Sharding technology, which works with the logic of transferring power to the other computers instead of just one computer. In contrast to these technologies, Harmony aims to find solutions to all problems with its leadership system. This technology works with the logic of signing the block produced by a leader by other members in the later stages. The index blocks sent to the leader after the first signature is discarded are sent back to the members later. With this technology, which is called parallelize transaction processing, the trust mechanism is increased to the next level and the partners within the block are working with optimum harmony among themselves.

How is Harmony different from other public blockchains?

Unlike other pow systems, Harmony uses the pos mining algorithm. This algorithm provides users with high processing power and high security against attacks. Harmony consensus protocol has activated the system of adjustable block sizes to find solutions to the attacks occurring in existing blockchains. Blocks can be reduced to small sizes in order to prevent large whales who want to have a network with this system and which largely dominate their blockchains. In contrast to the Ethereum blockchain, there is no problem in the Harmony system as the number of users increases and the scalability of the blocks does not cause any unforeseeable problems. This system prevents the construction of new blocks on the missing and incorrect processes in the blockchains based on the logic of filling the free spaces on the computers. Each block can move independently and interact with other blocks.

My Personal Opinion

The fastest transfer rate of up to 118 thousand per second, the most recent monks of the Harmony project, such as Multivac, Zilliqa, such as the famous blockchain projects. Among the members of the Google engineers, Samsung experts, the details of this project can be reached through the following social media channels.