rafajunior99

5 лет назад

Harmony - Revolutionary platform, low latency and low cost

Hello everyone ... If you are interested in joining the Harmony project, you should first read the reviews that can help you get information about their projects so you can see their vision and mission, below are the following reviews:

What is Harmony?

Harmony is a high throughput blockchain project that aims to transform the world into an open marketplace, and it supports the coming decentralized economy by operating at an extremely high scale. The Harmony team aims to provide a consensus protocol over the open internet that is able to facilitate 10 million transactions per second (tps) with a 100-millisecond latency, and a maximum fee of 0.1%.

The team aims to build a platform that operates significantly faster and cheaper than both Bitcoin and Ethereum, while also being able to operate at a scale similar to Google. As a result, they are set to rebuild the decentralized economy by focusing on and innovating a number of key existing components, including:

Transport network – Google’s UDP, Bloom tables, 5G mobile.
Consensus protocol – Byzantine committees, acyclic graphs, monopolist fees.
System tooling – Unikernels, multi-core in Rust, zero-copy streaming.
Google’s UDP currently powers 35% of its traffic (or 7% of the Internet) with 50% latency improvement, while the OmniLedger Byzantine protocol benchmarks to 13,000 tps and 1.5 second latency with 1,800 hosts. In addition, unikernels in Rust archives 10 million concurrent connections on a standard 96-core machine on Amazon Cloud, as a result the Harmony team feels that by employing technical innovations to structures that are already proven in research, and implementation they will be able to create a high speed and low cost blockchain infrastructure that is able to support real world industries.

Harmony have also outlined a number of crucial benchmarks which include a maximum transaction fee of 0.1%, in order to support new marketplaces of metered content or fractional work. Furthermore, as the proposed infrastructure for the world’s data firehose, their bandwidth must scale to 10 million tps in order to be able to process data from supply chain IoT devices, financial institutions, or energy grids. Most importantly, the platform must settle agreements within 100 milliseconds in order to be able to support instant reactions for autonomous robots or on-chain quotes in exchanges.

Product Readiness

The team has released a public Github page with the MIT open source license. It is possible to view the development of Min (Harmony’s proprietary programming language), the security-verifying programming language that eliminates the common dependencies of libraries or system tools. The compiler currently bootstraps itself in x86-64 instructions and supports development in MacOS. The team also states that Min compiles to Java VM without any third-party tools in an unpublished repo.

In addition, the team were scheduled to validate that the OmniLedger protocol in Go could sustain 10,000 tps, and adversarial attacks with 10,0000 nodes in Q2 2018. They were also scheduled to move ahead with forming a team of five engineers and securing funds via a seed round. The project is currently hiring new engineers and appears to have secured $18 million worth of funding so things seem to be moving along as planned.

Two additional validation benchmarks have been set for Q3 which should currently be underway. The team are verifying that lock-free and allocator-free algorithms in Rust scale linearly on a 96-core unikernel on Amazon Cloud, and that Google’s UDP sustains broadcast at 100ms latency with 10,000 nodes and saturated 10 Gbps links. Once completed, the team is also scheduled to open public benchmarks for up to 10,000 nodes during Q3 of this year.

Space in the Market & Competitive Landscape

Harmony is attempting to provide a blockchain infrastructure with a high potential for scaling and processing transactions at a high speed for a low cost. As a result the project faces competition from platforms that seek to do similar things such as EOS, Cardano, Hashgraph, and Zilliqa. There are also projects such as High Performance Blockchain, Dfinity, and Seele that are addressing similar issues, and Harmony is entering a rather crowded sector that will only continue to attract further participants. The team are adamant that their ability to execute efficiently and improve current systems such as OmniLedger will see them gain a competitive advantage over their rivals. They generally seek to master innovations already proven in practice, and focus on the key components of transport networks, consensus protocols, and systems tooling.

Competitors’ valuations:

EOS, valued $14B.
Zilliqa, valued $700M.
Hashgraph, raising $300M.
Thunder, valued $100M.
Dfinity, raised $100M.
Kadena, raised $12M.
Algorand, raised $4M

Use of Blockchain

Blockchain Advantage

Blockchain technology is a central part of the Harmony project, as the team aims to build a highly scalable, high performance platform infrastructure.

Need for Custom Token

While the whitepaper does not elaborate on the need for a custom token it does state that Harmony is building an open marketplace for the decentralized economy. The team view their platform as the gateway for micro transactions and online business, and as a result a native currency will be employed to help facilitate this.

In addition to being designed to support marketplaces of metered content or fractional work, and process transactions between IoT devices, the Harmony token should be used to reward/incentivize network participants for performing a number of tasks on the network.

Precautionary Measures

The team outlines a few areas of concern and their methods for dealing with them; these include the sharding issue of high churn for OmniLedger and Chainspace. Churn occurs when network nodes temporarily go offline or unresponsive, and Harmony follows The Honey Badger of BFT Protocols; as its randomized consensus helps mitigate the churn problem.

Additionally, private leader election and fast view change are proposed as a defence mechanism to single-shard DoS attacks, and OmniLedger optimizes ByzCoin by reusing randomized seeds to elect group leaders. On top of this, the team have also developed Min, a Harmony subproject which is a new language for programming software with security guarantees that may lead to unhackable systems. It involves the devising of static types with concise syntax as security specification, the analysis of decentralized protocols in formal models, and the generation of optimized code across networks.

Decentralization

The OmniLedger Protocol remains a solid foundation of the project and is stated to currently be able to process 13,000 tps with 1,800 nodes. As a result, Harmony looks set to employ a large number of nodes and the team have outlined working with 10,000 nodes in Q2 2018, while the network is set to be deployed to 100,000 nodes at some time in 2019.

Storage and/or Mining

The team state that during Q4 of 2018 the public mining of Harmony tokens will be unveiled alongside the testnet.

Contribution for the Blockchain Economy

Harmony is one of numerous high throughput blockchain projects in existence; however, it still has something to offer the Blockchain Economy. By aiming to solve current issues regarding scalability and by providing low cost, fast payments, Harmony can act as a blockchain solution to a number of corporations and organizations and disrupt a number of key industries.

The team are also focussed on bringing forth innovations to a number of existing protocols such as the OmniLedger Byzantine protocol and update current scaling solutions, if successful they will help the greater community of blockchain developers to take significant forward steps.

Concreteness

The roadmap gives a general overview with regards to project development and outlines various stages of development starting from Q2 2018. After forming a team of five engineers and securing seed round funding, the team planned to validate that the OmniLedger protocol in Go can sustain 10,000 tps and adversarial attacks with 10,000 nodes, and that the lock-free and allocator-free algorithms in Rust can scale linearly on a 96-core unikernel on Amazon Cloud. Over the second half of 2018, the team plan to open public benchmarks for 10,000 nodes and open the public mining of Harmony tokens with the testnet and token economics. The system is set to be deployed over Q4 of 2018, and Q1 of 2019 and despite being minimal, the roadmap contains key checkpoints.

Feasibility

The team has produced a quite simplified and minimalistic roadmap and it provides a feasible outline with regards to project development. Much depends on the team’s ability to validate the core aspects of their project and then secure additional funds via a private token sale in Q3.

Vision

The roadmap is a quite simplified document and does not include a particularly detailed vision. The main idea conveyed is that the team is planning to work on innovating existing systems and be able to deploy certain aspects of their platform over Q4 of 2018, and Q1 of 2019.

Maturity

The roadmap is mainly focused on 2018, and the team expect to complete the majority of tasks within the calendar year. However, the incorporation of up to 100,000 nodes as well as the listing of [Harmony](https://harmony.one/) tokens on exchanges are scheduled to take place at some point in 2019. The token listing will prove to be a contentious issue if it drags on or is delayed by a significant period of time.

Token Sale

Minimum / Maximum Amount to Raise

Information to be announced.

Sales & floating: 20% tokens (40% no lockup, 10% monthly over 6 months; for bonus, 100% release after 1-year lockup)
○ $0M – $?M: 40% bonus, seed round
○ $?M – $?M: 20% bonus, initial private sale
○ $?M – $?M: 0% bonus, final (public or private) sale

Fund Allocation

Sales & floating: 20% tokens
Developer & community: 40% tokens (1-year 28% lockup, 1.5% monthly over 4 years) – Open benchmark, mining, airdrops
Foundation & research: 28% tokens (28% no lockup, 1.0% monthly over 6 years – Reviewed publication, research grants, reserve
Founder & team: 12% tokens (1-year 28% lockup, 2% monthly over 3 years)

Token Sold-Kept-Ratio

Investors in the project will only be allocated 20% of all tokens which is on the low side. However, the community will share up to 40% of all available tokens alongside the project’s developers which means that there may be additional ways to obtain tokens by participating in the project. The Foundation and the team take up an allocation of around 40% which illustrates that the team are aiming to exert significant control over the project. Potential public sale participants will also need to be aware of what percentage of the tokens being sold will be made available to private sale participants.

Quality of Campaign Strategy

The team were scheduled to raise an initial seed round of funding in Q2 2018, and they are currently in the process of securing additional funds via private sales. The details are not well known as the hard cap still has not been confirmed. It is difficult to know exactly how long any private sales will take place and how the team will conduct their campaign strategy once a crowdsale date has been confirmed.

Token Details

Token Symbol: TBACrowdsale Token Price: TBA
Hard Cap: TBA
Maximum market cap at ICO on a fully diluted basis: TBA
Total Tokens for Sale: 4,200,000,000 (20% of the Total Supply)
Token Sale Date: TBA

Roadmap

Conclusion

Based on the data and facts seen, Harmony is very good for reviewing and investing. This is based on the reality for now, many projects are not good, and makes everyone who invests a lot of questions about their certainty and truth, so if you want to invest in this project, you should read all about the article that I made, so you can find out more about this ICO project from them.

To get more relevant details from the Harmony project, please follow some sources for the following references:

User: rafajunior99
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