What is Harmony? Details on ONE – Binance’s Next IEO

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2021-03-22 14:10:55

What is Harmony?

Harmony Being an open, decentralized market or in a more understandable way, Harmony is a Blockchain Platform. The Harmony protocol was created by the dev team to build an open market of Google scale for the decentralized economy and with the project’s goal to provide consensus protocol via Open internet with 10 million transactions each. seconds with 0.1s latency and 0.1% fee of the transaction value.

Up to now, there is no Blockchain that can scale enough according to the needs of 5G and IoT technology. According to the Huawei report, to meet the requirements of 5G networks, you need 100 billion connected networks, 1 ms latency and 10 Gbps bandwidth.

With the above factors, Harmony will be able to optimize as well as in the technology of the project to help increase speed with capacity up to 1000 times and expand the market to about 10 billion people and 100 billion devices. Future. Thereby, we see that Harmony’s main goal is to speed up transactions and expand the market

What is Harmony Token? Basic information about Harmony Token

Harmony’s token model aims to build a sustainable foundation with help from decentralized developers and the right investors, balancing long-term development commitment with investment incentives. each level. Similar to many other tokens, Harmony Token is a token in Harmony’s Blockchain network.

At the present time (May 13, 2019), team dev has not officially announced the ticker as well as basic information about Harmony Token. According to the development roadmap of the project, Harmony will release the mainnet in the second quarter of 2019. At that time, Harmony Token will officially become a coin running on the Harmony platform.

And below are some basic information about Harmony Token

  • Ticker: Harmony
  • Token Presale: Q3 2018
  • Total Supply: 21,000,000,000 Harmony Token
  • Circulating Supply: 0 Harmony Token (not yet officially sold, so no circulation information yet)
  • Available for Token Sale: 20%
  • Blockchain: No official information yet
  • Token type: Utility Token
  • America
  • Token Allocation: No official information yet

The project’s token distribution plan is as follows:

  • 40% community and developer
  • 28% background and research
  • 20% is used for sale and marketing
  • 12% for Founder and team dev

Furthermore, the detailed and detailed use of the proceeds raised is as follows:

  • 40% Technology development of the protocol platform
  • 20% Collaboration and Community Developer Program.
  • 15% Business Development, Marketing
  • 10% Operations, devices, cloud servers
  • 10% Collaborate with academic research
  • 5% Legal, financial

For details on token lock periods and incentives, see page 20 of the project whitepaper.

Harmony Highlights

According to CHK’s research and analysis, Harmony has some highlights as follows:

  • On the Protocol layer, Harmony uses a PoS consensus mechanism based on Sharding Protocol, which can increase the number of nodes on the network.
  • According to team dev, each sharding has hundreds of nodes, using BFT algorithm to reach consensus in seconds.
  • Transport Network (Transport Network): On the Network layer, Harmony uses the QUIC protocol to help transfer information faster.
  • Technology using PBFT OmniLedger consensus mechanism and QUIC network transmission protocol provide good security.
  • System tools: This is a system of tools used by Harmony to remove unnecessary obstacles in the protocol’s implementation. In this first phase, the developer team wants to focus on building Harmony, which is Blockchain for both Fungible Tokens (Energy Credits, Security Offerings) and NFT Token (non-fungible Tokens – collectible cards in games, real estate, ..)
  • Harmony’s goal is to become the Platform Blokchain for data sharing dApps, Supply Chain, NFT Token in Game, etc.

Surely many readers of CHK will also wonder that with such highlights, what will Harmony Token be used for? Then the answer is that the Harmony project has not yet had an official Whitepaper for the project, but only Technical Paper, so the specific details about the use of the Harmony token are still quite vague. However, as far as find out, below are the uses of Harmony Token:

  • Harmony Token is used to stake and become a Validator in Blokchchain’s network.
  • These validators will receive a reward from the donation, and that is Harmony Token.
  • Harmony Token is used to pay network usage fees, including transaction fees, gas fees and storage fees.
  • Harmony Token is used to vote for Governance. Without Harmony Token, the protocol won’t work.

Some of the basic fees are available when you trade Harmony tokens:

  • Transaction fees on exchanges.
  • Withdrawal fees are collected by the exchange.
  • Token transfer fee in Harmony’s Blokchain network.

For details on this fee, I’ll update as I get information from the developer team.

The Harmony project’s development team

According to CHK mentioned above, Harmony’s development team are extremely elite names such as:

  • Stephen Tse is the Founder of the project. With research experience at Microsoft Research, senior infrastructure engineer at Google, chief search engine engineer at Apple. He founded the mobile search company Spotsetter with institutional venture capital; Apple later bought the startup.
  • Alok Kothari has experience in deep learning models of natural language understanding at Apple Siri. His research papers won the award for best data set at ICWSM 2013.
  • Rongjian Lan is an infrastructure engineer for the Play Store at Google. He has published more than ten research papers on spatial-time querying and map-based rendering. He is the co-chair of the ABC Blockchain Foundation with more than 100 members who are engineers from Google, Facebook and LinkedIn.
  • Hakwan Lau is an expert in neuroscience and machine learning. He is an associate professor at the University Columbia and has published more than 90 articles in popular journals.
  • Trausti Kristjansson, formerly involved in Microsoft Research, IBM Research and Google Research, has founded startups and led PhD engineers in top positions in their fields as Technical director.
  • Bruce Huang was a lead engineer at Microsoft for seven years, a director at Alibaba Cloud and at Credit Ease.
  • Nicolas Burtey founded a VR video startup in 2012 with 40 people and has raised $ 10 million. Orah has served the needs of thousands of professional content creators in 70 countries by selling GPU-driven software and 360 ° cameras.

Information about IEO Harmony on Binance Launchpad

According to the last announcement of Binance until May 15, 2019, the official information about this token sale event will be updated from both sides, Binance and Harmony. CHK will update readers as soon as possible as soon as the information becomes available.

Currently (May 13, 2019), Harmony has not been officially traded on any exchanges. Upon completion of the IEO, Binance is likely to be the first exchange for Harmony Token trading. Recently, Binance launched the Binance DEX exchange and it is likely that Binance will allow trading on this floor first.

The potential and future of Harmony Token. Should you invest in Harmony Token or not?

We can see Harmony’s dev team is very ambitious. When they set the goal of creating a blockchain with 10 million transactions per second, enough power and infrastructure to serve 10 billion people, with 100 billion devices in the future. Harmony Token’s buying demand is likely to increase as their Blockchain network expands and attracts more and more dApps on its platform.

According to the above mentioned CHK, Harmony is a project carefully selected by Binance to participate in Binance Launchpad and surely this also gives investors some peace of mind in terms of assurance as well as quality. of this project.

Note: CHK readers need to thoroughly understand the token, then evaluate and make their own investment decisions. This article is not meant to be a financial investment advice and should only be invested with a small amount of money!

Conclude

At the present time (May 13, 2019), Binance has just revealed that Harmony will be IEOs on Binance Launchpad. CHK will quickly update the latest information as soon as possible as soon as it gets official information from Binance as well as other reliable sources.

#Harmony #Details #Binances #IEO

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