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Harmony FAQ
2019–05
Here are some frequently asked questions (FAQ) and answers on Harmony.
Harmony is a fast and secure blockchain. Our mission is to scale trust for billions of people and create a radically fair economy.
We are a team of infrastructure engineers in Silicon Valley, including 4 PhD, 7 ex-Google/Amazon/Apple/Facebook, 2 Harvard MBA, and Stanford/Berkeley AI graduates.
Since 2017 many of Harmony’s founding team members would gather every week for hours in the tradition of Google TGIF to share world-changing ideas over drinks. We were all passionate about machine learning, then quickly blockchain, as they were technologies that could impact billions of people.
During these weekly gatherings, we discussed the huge potential of blockchain to create an open data economy, but that the ecosystem was held back by an inability to scale. With our depth of expertise from the big 5 tech firms, we felt compelled to build a blockchain that could support mass adoption and unlock the full promise of decentralization. That was Harmony.
We debated how to find product-market fit and build sustainable platforms on blockchain. We researched many technical approaches for scaling and security of smart contracts. We toured in Asia to understand the crypto communities and the entrepreneurial spirit.
We raised $18.3M private round, $5.5M node round (Binance Labs, HashKey Capital), and $5M public with Binance IEO Launchpad.
Harmony is the beautiful music when we sing in different notes but resonate. It’s analogous to our high-performance protocol of multiple shards but reaching consensus.
Harmony’s vision is “For One and For All,” creating open consensus for 10 billion people.
Harmony’s community is built on “Handshake & Embrace.” All Is Fair in Love and War. (Euphues [Euphuism]: The Anatomy of Wit, 1579).
Harmony helps businesses build marketplaces of fungible tokens (energy credits, security offerings) and non-fungible assets (game collectibles, real estate).
We’re applying zero-knowledge proofs for data sharing (ad exchanges, credit ratings) while preserving the consumer’s privacy.
Today, only hundreds of thousands of people are participating in the decentralized marketplaces. We want to help millions participate in a radically fair economy.
We believe that a scalable architecture and design of a public blockchain is crucial for mainstream adoption and high value use cases. Through a combination of research-proven innovations in transport networks, consensus protocol, and system tooling, we think Harmony’s scalable blockchain protocol can eventually support markets for billions of users.
Harmony is the highly scalable, minimal-fee and provably secure blockchain that will serves as the backbone of next-generation decentralized applications. Harmony innovates on both protocol and networking layers of blockchain by introducing:
1. Highly scalable BFT consensus using BLS multi-signature
2. Secure distributed randomness generation protocol using VDF (Verifiable Delay Function)
3. Adaptive PoS-based sharding mechanism guaranteeing the network security
4. Kademlia routing and erasure encoding for optimal network usage
Harmony is a POS-based state-sharding protocol, while existing protocol projects are mostly POW-based. Harmony’s consensus is a fast BFT algorithm which uses BLS multi-sig and scales linearly with the number of nodes, while many existing projects uses the old single chain-based consensus (same as Bitcoin). Harmony’s consensus doesn’t have forks and has instant finality, while existing chains have forks and no instant finality. Harmony provides a provably secure source of randomness with the latest technology Verifiable Delay Functions (VDF), which guarantees the security of the shards and provides fair randomness to applications. However, most existing protocols sharding security is not guarded by randomness, so it’s prone to single-shard takeover attacks, and there is no fair randomness for Dapps (such as gambling games etc.). Harmony’s cross-shard communication is sublinearly efficient because we use Kademlia routing and Erasure Encoding.
We currently use gossiping and Kademlia in a mutually complementary arrangement: Kademlia handles baseline peer discovery as well as topic mesh forming, and pub–sub gossiping for topical broadcast routing over the topical mesh discovered by Kademlia. Our cross-shard communication will also rely on Kademlia routing technology.
For cross-shard communication, we will use Kademlia routing table to minimize network cost. The tradeoffs of doing so as opposed to using gossip are:
2019 April
2019 May
2019 June
2019 Q3
2019 Q4:
Harmony derives value from the utility of its native token. Our scalable, high-throughput protocol is powered by a native token which is used for various forms of participation in the protocol (staking/securing, transaction fees, voting & governance).
Using our blockchain to dis-intermediate third-party trust and align incentives of different stakeholders, developers and businesses can build open marketplaces of fungible and non-fungible tokens and assets. In fact, by implementing Zero-knowledge proofs Harmony will be the de-facto data sharing platform that will harness the mutual distrust to share data but strong desire to acquire data.
The Harmony token is a protocol token that is used for a number of things on the network.
1. The token is used to stake in order to become a validator on the network to earn block rewards and transaction fees. We use Proof of Stake (POS) as our sybil resistance mechanism in the protocol.
2. The token is used to pay fees on the network, both transaction fees, gas and storage fees.
3. The token is used in voting for on-chain governance of the protocol. Without the token, the protocol could not function.
Harmony is a permissionless protocol — anyone can join, leave and contribute to the network.
That said, it is equally important and pragmatic to ensure that the protocol is secure from Day 1, and hence the validator pool needs to keep the protocol secure and stable. Therefore, we started the Foundational node operator program to make sure we would have an early community of external nodes/validators to help bootstrap the network.
We have kept geographic diversity as an important criterion in welcoming some of the early node/validator community. Some of the regions are Foundational node operators come from include: USA, UK, Thailand, Russia, Taiwan, Canada, Czech Republic, China, Korea.
After the security of the protocol is proven, we will voluntarily limit our role in driving and facilitating the validator community. We will develop a strong foundation for the validator community to function and support each other over the next few months through our Game of Stakes Campaign.
We’ve sold 22.4% of the 12.6 Billion token supply in our seed round.
Node Operator Program
Reports & Updates
Community
Join our main community channels:
Medium: https://medium.com/harmony-one
Harmony has emphasized on being open source, accessible to developers and partners, and building long term relationships with developers and partners both online and offline since our founding in 2018.
For developers:
For business:
Harmony has organically developed partnerships to use its fungible tokens (energy credits, security offerings) and non-fungible assets (game collectibles, real estate). Currently, the partnership development efforts have been through our own TGI network (1,500 founders and collaborators in Silicon Valley) and through conferences and events. Many of our partners have been long term friends and collaborators and we have strong working relationship with them. Harmony is currently developing partners with use cases in asset tokenization, stablecoins, energy credit trading, game collectibles, advertising exchange. Going forward, we’ll explore open market for data sharing with health data and personal data companies.
Harmony has organized and spoke at the following conferences and developer community events:
2018
2019-Q1
2019-Q2
Additionally, the Harmony team organizes our own weekly TGI-Harmony event in the Bay Area and have been growing the off-line community through this event for over 2 years. The team has a track record of building large scale products and a strong reputation in Silicon Valley and the tech industry. We have hosted over 1,500 strong founders and collaborators. These leading technologists and company builders have a strong positive relationship with the Harmony team and return to our event often on a weekly basis.
CoinDesk
The Block
Yahoo Finance (UK)
Hackernoon
Steemit
CryptoPurview
Mike Spencer (Medium)
Yahoo Finance (US)
Coinmonks
https://medium.com/coinmonks/revenge-of-the-ai-nerds-5a6bb370b059
CryptoInsider
2019–03–29 Crypto Briefing: Harmony Open Consensus Blockchain Code Review
2019–02–06 Svet Sedov
2019–1–11 Melanie Mohr https://medium.com/futuresin/blockchains-top-trends-of-2019-6c2a69b8c715
2018–11–19 CoinDesk
2018–08–12 Michael Spencer
https://medium.com/futuresin/what-is-the-haromony-protocol-e8eb33c190ed
2019–5–1 Harmony简介：开放、稳定的去中心化经济市场
2019–04–19 Blocktimes AMA (RJ)
2019–04–17 Hyperion宣布与Harmony正式展开合作
2019–04–17 Harmony联手Hyperion开启共识地图3.0时代
2019–04–15 一文读懂 Harmony 与 Zilliqa 两个分片项目的不同
2019–04–11 以太坊 2.0 落地迷雾重重，Harmony 公链或将其想法提前实现
2019–02–19 Bihu Harmony正式入驻币乎！
Harmony has completed roadshows and events in Silicon Valley, Seattle, Denver, Boston, New York, Hong Kong, Beijing, Shanghai, Shenzhen, Seoul, Singapore, Ho Chi Minh City, Jakarta, Montreal
Q2 2019
Q1 2019
Q4 2018
Q3 2018
Harmony will reward translators in tokens and fiat.
We currently have deck, newsletters, faq, and whitepaper in the following languages:
Our global content is published here: https://medium.com/harmony-one/tagged/global
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