When looking from the history of blockchain, the financial technology world believed that blockchain technology is likely to gain more expansion. This can transform many blockchain projects and financial services industry operations.
For a layman, whenever blockchain is mentioned, what usually rings in their mind is cryptocurrencies like bitcoin, ethereum and the rest. Just of recent, observation states that bitcoin has been dealing with several issues that are affecting the speed of their transactions. The cryptocurrency had once mooned and created many motivating impressions before it burst lately, despite that, blockchain and the distributed ledger technology have gained more ground and have wide-reaching applications than cryptocurrency. This is to say that blockchain is far more than digital currencies. This article will talk more about harmony Blockchain, despite several challenges l it is fast expanding with different useful network projects. All these projects had gained solid ground on the blockchain by ensuring adequate awareness and adopting proof-of-work, proof of stake system and overall good maintenance to eliminate any unforeseen stumbling.
One of the major problems facing the blockchain project is scalability issues. How do we know that? it can be determined by the rate at which is get decentralized.
Decentralization is one of the major factors that ensure a high scaling platform. This is where harmony comes in.
What is harmony ?
Harmony is a decentralized, scalable and secure ecosystem on the blockchain that operates and adopt sharding technology. Sharding is a data-based partitioning method that deals with splitting or separating a very large database into a smaller, faster and more easily manage parts.
Harmony is a very reliable blockchain ecosystem that operates on a low or few consensuses and is widely open for over 10 billion people. It is an energy-efficient ecosystem that can enable quick transactions in a very few seconds and can be able to be easily expanded when the network is utilized.
Harmony is designed to power the decentralized economy of the future by enabling a decentralized and trustless economy. It has a wide-open infrastructure for worldwide data. After researches harmony discovered that many blockchain ecosystems that promised both scalability and decentralization find it very difficult to achieve both. That is why harmony major goal is to ensure and deliver both scalability and decentralization. Harmony collaborates with well experience academia and engineers to build large-scale infrastructure.
THE BENEFITS A PROJECT CAN DERIVE WHEN USING HARMONY UNDERLYING INFRASTRUCTURE.
Harmony is operating based on shading technology to scale up easily and quickly. any project trying to adopt this how many underlying infrastructures we were able to have a breakthrough is scaling out. They will be able to gain more sperms expanding their projects and get more facilities that will enable them to spread out and operate on faster processing that can allow more traffic.
WHAT MAKE HARMONY BETTER THAN OTHER SHARDING NETWORK?
Harmony can stand out among other sharding networks because the mode of transaction is very fast which makes them accommodate a high number of transactions at a very little time. They have solid security against shard attackers even as a minimum range of 1%. Unlike other sharding networks, they operate based on cost shard communication routing optimization. Only will be able to get over mother scalability issues that many other ñ are finding very difficult to accomplish. Because harmony is operating based on Sharding technology blockchain, it can produce many diverse breakthroughs to overcome current challenges occurring in the distributed ledger industry.
HOW SHARDING ON MULTIPLE LAYERS CAN IMPROVE SECURITY AND EFFICIENCY.
Harmony is adopting a proof of stake (PoS) system, this makes it be more energy-efficient compared to the industry operating only on PoW. The PoS will improve their efficiency and provide security against malicious actors or attackers and provide adequate protection to guide the integrity of the Harmony database.
MY FAVORITE POTENTIAL APPLICATIONS OF HARMONY.
Harmony can ensure high transaction per second. I this properly maintain, it is enough to be my favorite potential application. This application can improve its large scale economy, thereby driving harmony scalability to the next level.
USE CASE
Now that we all know that harmony is interested in storing data in shard form to provide adequate information about a product to many people. If we want to know full information about your data, harmony blockchain can show;
How to identify who need your data, how to get and
package the right data for them, how to create a reasonable pricing for your data package and pricing negotiation.
Harmony can serve these purposes. It can also confirm and validate if the data has been used or not. It can process the payment once the data has been used. This can be possible in an automated world that has gained a quality decentralization. Blockchain and harmony will do these to ensure you maintain your right to keep your data safe.
MY WRAP-UP
Harmony is an open platform on the blockchain that will create a data infrastructure layer that can be easily shared to the people worldwide.
The good news about that is; harmony operation has shown how they could revolutionize future blockchain.
We are in the computer age and there is a tendency for our children to meet a well advance blockchain we ever imagined.
Harmony team also aim to build an active platform that will operate on a very cheaper and faster base compared to Bitcoin and ethereum.
For more information, check these link out.
harmony website