Hello Gentleman! How many of you know about Harmony Blockchain? If not, then this post is basically for you all guys!

Introduction

Harmony blockchain system is more advanced in comparison to all existing current blockchain model. Harmony has outstanding solutions to scalability related issue which is definately the biggest in built faults in all popular existing blockchain networks available at present. According to a report not even a single blockchain present today can completely eradicate scalability issue from their system!

Why scalablity is such a big issue? Let's take a look!

Limitations

In every blockchain, every single information about an authentic transaction process, is fed to the ledger via nodes. In this way, with the passage of time payment history increase in size, resulting in bigger block size than preceding. This cause instability to the overall system and thus making it impossible to run a node for each individual blockchain.

Block Size

Initially, In the Bitcoin blockchain each block used to be of one Mb, every block could contain around 2,020 transactions. Since from the past few years its popularity has increased tremendously, number of transactions has increased in the network, resulting in bigger blocks size than precedent.

Response Time

In the blockchain network every transaction undergoes through a validation process. More numbers of transaction result in overload on the network thus demands more time for same data to process than earlier. For example, in the BTC network, it takes around 10 minutes to build a new block.

High Fees

Bulkier block in blockchain require heavier computing resources and more time to perform validation that thereby is responsible for a sharp increase in transaction fees of majority of cryptocurrencies within the past few years.
Combining with the above issues, this creates a lot of unprocessed transactions standing in the queue asking for their validation.

What is Harmony?

Harmony is new advance PoS ( Proof of Stake) blockchain that works on revolutionary principles like Sharding technology and Beacon chain process. Integrating these two, Harmony arises as complete scalable, secure and energy efficient Blockchain system. Being formulated on unique sharding and resharding principle, Harmony can handle any scalability related issues that is currently the biggest suffering of existing blockchain rather it is Ethereum or BTC Network.

The word Sharding literally means "cutting in small pieces." Harmony mastered this concept from Ziliqa network and applied it in more advanced form.Through linear scaling technique, Harmony can efficiently adjust their block size. This makes their network extremely specific specially at those moments when any network gain extreme popularity.
The most significant feature of Harmony is that it can always keep up with the same pace, providing users the benefit of unprecedented transactions within seconds.

The importance of nodes?

Any new information regarding authentic payment between buyers and sellers is sent to the node, formulating a new block in blockchain. Data are stored and verified in this manner; the payment is considered to be processed.

Harmony's mainnet was launched on 28 of June with 600 nodes that already proved it's prosperity as it became one in the top 15 decentralized network.

"The Phase 2 version of Harmony's mainnet aims to add 4 shards with 400 nodes each, for a total of 1600 nodes."

Token ONE!

Harmony has launched its native tradable token ONE that is also a part of its mainnet phase two project. Harmony's native token ONE is a BEP-2 token. Out of this, 24.3% of Total Token Supply (3,061,800,000 ONE tokens) will be available for use.

Harmony's recent partners and usecase?

Cryptokitties

Cryptokitties is a popular project of Company Animoca having a large userbase. It was previously running on Ethereum blockchain that currently started with scalability related issues.

Company Animoca has recently joined partnership with Harmony.
Harmony not only provides to them the best approach but also everlasting efficiency which is currently demanded by every growing industry.

DeFi (Decentralized Finance)

DeFi stands for Decentralized Finance. This industry holds a lot of data basically on cryptocurrencies lending and borrowing. Being a partner with Ethernum network, it is also collapsing due to inabilities and scalability drawback of their fellow network.

Binance, one of the popular crypto exchanges reported in that Harmony can be a provable solution to this problem, since it is unprecedentedly efficient and secure than any other feasible blockchain available currently.

Overall it can be predicted that Harmony is a new era of blockchain!

Concept & Technology behind Harmony

Harmony consists of two core technology one is the Beacon chain and another is multiple transaction sharding process.

Beacon chain can be called as a speciality of Harmony.

Beacon chain is responsible for generating random number in sharding process.

This has two purpose:

• Assigning shards to validators.

• Assigning validators based on stakes.

In Beacon chain, transactions are carried out just like any other standard shard chains.

This kind of antique technology is largely being used by top branded industry and academic leaders to build a completely ultra- proof network for data security.

Harmony uses these smart tactics in more advanced forms (location​-based and centrally-controlled sharding schemes).

In Harmony's process random numbers are created, distributed and assigned to each node for its future processing or sharding done by validators.

These numbers, being unpredictable, verifiable and scalable play a crucial role in managing ultimate security on Harmony behalf.

Harmony key features:

Full Scalability

Harmony applies sharding principle both during processing and record keeping (state) of the network, resulting in the formation of lighter block. This allow running of nodes smoothly with maximum efficiency.

Secure Sharding

** Harmony is based on two principle one is Beacon chain and another is Sharding process.**

Beacon chain generate random number based on special DRG tool​(distributed randomness generation) this allow shards and sharding immense security, since these numbers are unbiasable, unpredictable, verifiable and scalable.

Fast and Efficient Consensus

If you compare the Harmony in terms of energy efficiency than being a PoS model, it is more energy efficient in comparison with any PoW alternatives like BTC.

Yes, you read correctly!

Adaptive -Threshold PoS

In Harmony staking requirements are adjusted based on total staking volumes.

This is to ensure that whale stakeholders do not get concentrate on single shards.

Main Moto behind this to keep network light enough to ensure efficiency and fair transparency for stakeholders.

Scalable Networking Infrastructure

Harmony's cross-Sharding Transactions scale feature works logarithmically. This allow it to perform instant transfer of shards across mainnet.

Overall Harmony is a new revolution in Blockchain world!

Comparison of Blockchain

This table will give you clear idea about the potential of Harmony ------

Thanks.

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