6 mins
(25 blocks)
(25 blocks)
Harmony is a fast and secure blockchain for decentralized applications. Our production mainnet supports 4 shards of 1000 nodes, producing blocks in 5 seconds with finality.
Our Effective Proof-of-Stake (EPoS) reduces centralization while supporting stake delegation, reward compounding and double-sign slashing.
Harmony has transcended the blockchain trilemma by bringing the best research to production. Sharding is proven to scale blockchains without compromising security and decentralization.
We divide not only our network nodes but also the blockchain states into shards, scaling linearly in all three aspects of machines, transactions and storage.
To prevent single shard attacks, we must have a sufficiently large number of nodes per shard and cryptographic randomness to re-shard regularly. Each shard has 250 nodes for strong security guarantee against Byzantine behaviors. We use Verifiable Random Function (VDF) for unbiasable and unpredictable shard membership.
Harmony has innovated on the battle-tested Practical Byzantine Fault Tolerance (PBFT) for fast consensus of block transactions. Our Fast BFT (FBFT) leads to low transaction fees and 1-block-time finality in Harmony Mainnet.
We use Boneh–Lynn–Shacham (BLS) constant-sized signatures to commit blocks in a single round of consensus messages. We achieve 5-second block time with view changes in production against adversarial or unavailable leaders.
Harmony Mainnet was launched in June 2019. Our network has produced 10M+ blocks with 20k+ transactions in publicly traded, native ONE tokens.
Harmony has designed a novel Proof-of-Stake (PoS) mechanism for network security and economics. Our Effective Proof-of-Stake (EPoS) reduces centralization and distributes rewards fairly to thousands of validators.
Our staking mechanism supports delegation and reward compounding. To support 100% uptime but fully open participation, EPoS slashes validators who double-sign and it penalizes elected but unavailable nodes.
Harmony Economics Model caps the annual issuance at 441 million tokens (about 3% rate in long term). Our model gives validators a simple and predictable return. All transaction fees are burnt to offset the insurance, naturally leading to zero inflation when our network usage becomes high.
Binance Stablecoin BUSD: Explained
BUSD has been announced as the first stablecoin on Harmony. But what is BUSD and what is a stablecoin.
Effective Proof Of Stake: How Does it Work?
Our Effective Proof-of-Stake is a staking mechanism that avoids stake centralization while still supporting compounding and delegation.
Ecosystem Growth: Community Tools Launched
Decentralized open source networks depend on the participation of community members. Here are the projects built to date.
$7M Grants, Harmony Angels as Radical ONEs, June Update
Harmony announces $7m in grants for cross-border finance and zkproof privacy.
Validator slots has increased from 320 to 480 and the team's hackathon yields Harmony Angels, SoccerPlayers, Good One dapps on mainnet.
CEO’s Keynote: Scaling Privacy, Secure Staking, Radical Fairness
Our CEO presents Harmony’s year-long journey into transcending the blockchain trilemma. Our project vision is Open Consensus for 10 Billion.
Our mission is to scale trust for billions of people and to create a radically fair economy.
Team 2020 Plan: CrossFi, Open Dev, Auditable Privacy
Harmony Team continues to obsess over customer’s use cases, build the network effect of our ecosystem and bring the world’s best research to production.
Our goals in 2020 are cross-border utility, decentralized development and auditable privacy.
Harmony aims to build an open network of nodes operated and governed by a large community. This node community is called Pangaea.
Are we decentralized yet? There’s no consensus without participation. There are now 1,000 Harmony nodes – so far 320 of them run by the community – in line with thousands of Bitcoin and Ethereum nodes. Pangaea consists of volunteers and validators from more than 100 countries and most of them have never run a node before.
Binance IEO, Quidd Acquisition, Shanghai Keynote
1000-Node Mainnet, Effective
PoS, 3000 Pangaea Community
2020 Q1 & Q2
Token Swap, Stablecoins, HRC-721 for Branded Assets
Open Staking, BUSD Stablecoin, EPoS Mechanism
2020 Q3
Ecosystem Grants, 3-Second Finality, DeFi Middlewares
Fiat Gateways, Staking Wallets, Ethereum Bridges
Auditable Privacy, Cross-Border Finance
100% Decentralized Nodes, Community Governance
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