Ethereum’s scalability and its 15 TPS (transactions per second) failed to support high-throughput applications, including gaming and decentralized exchanges. As with any pioneering technology, there were a couple of underlying problems with Ethereum-based smart contracts. What is the Problem Harmony is Addressing?Įthereum was the first blockchain platform to use smart contracts. Harmony’s native token, ONE was launched through Binance’s initial offerings (IEO) in May 2019. Tse founded Harmony in 2018 and raised over $20 million to develop the Harmony protocol. Driven by his passion for blockchain technology, Tse developed his own programming language ‘Min’ to build blockchains. Tse is a skilled cryptographer who was also a core developer of Google Maps. The background of Harmony starts with its founder, Dr.
On the user end, they can expect two-second transaction confirmation, and they have the ability to seamlessly swap between Harmony and Ethereum blockchain. The application of the Harmony bridge can cater to both decentralized finance (DeFi) and non-fungible tokens (NFT).ĭevelopers will find familiarity in the Harmony blockchain platform, both Ethereum and Harmony use the Solidity programming language and Ether.js – for developers, coding on Harmony will feel just like they are building DApp on the Ethereum blockchain. These attributes make Harmony a platform that developers can select for its growth and scalability. The Harmony blockchain platform is like a mix of Ethereum, blended with the unique solution of the Harmony platform. Sharding makes Harmony Protocol a powerful blockchain platform sharding allows the decentralized platform to scale while also maintaining security. Using Harmony’s block platform, developers can build and scale intuitive decentralized applications or dApps that can accelerate cross-chain token swaps. The system is designed to open doors for ultra-fast transactions and interoperability. Harmony blockchain claims to solve issues with bottlenecks faced by Ethereum through the introduction of a new sharding-based blockchain that operates using a unique consensus algorithm.
Harmony is a blockchain platform that developers can leverage to build decentralized applications.
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