Crypto

What Is The Harmony Platform? Why Is It Important?

Harmony (ONE) is a blockchain-based platform that facilitates the development and distribution of decentralised applications (DApps). The network aims to revolutionise the way decentralised applications work by relying on random state sharding, which allows blocks to be created in seconds.

According to the project’s website, Harmony aims to introduce cross-party contracts and cross-chain infrastructure by the end of 2021.

What Is The Harmony Platform? Why Is It Important?

Who Founded Harmony?

Stephen Tse is the founder and CEO of the company. He holds a PhD in cryptographic protocols and type theory from the University of Pennsylvania.

Dr Tse completed a research internship at Microsoft while earning his undergraduate degree. In 2006, he joined Google as a senior developer, where he stayed for four years. In 2011, he founded Spotsetter, the popular search engine that was later acquired by Apple. Dr Tse became Apple’s chief engineer in 2014.

He founded Harmony in 2017. Seven of the twelve members of Harmony’s founding team are former employees of Google, Apple, Microsoft and Amazon.

What Are The Features Of The ONE Project?

Harmony’s main network aims to reinvent blockchain production by focusing on transaction speed and verification. The company has significantly reduced node verification times using sharding technology.

Harmony has implemented a verifiable random function (VRF) for unbiased and unexpected shard membership to ensure the security of the node protection and verification process. This means that nodes and verifiers are randomly assigned and reassigned.

The project’s Harmony Grants programme aims to encourage innovation and bring developers into the Harmony mainstream.

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Claire Tremblay

Hello! I'm Claire, an associate news editor covering breaking news and writing articles about technology for different digital news channels currently based in Montpellier, France. Areas of journalism experience: News, Business, Blockchain, technology, Artificial intelligence (AI), Internet of things (IoT), Sports, Travel, Food & Wine, Outdoors.

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