Harmony

Harmony is an open and fast blockchain. Our mainnet runs Ethereum applications with 2-second transaction finality and 100 times lower fees.

Harmony’s secure bridges offer cross-chain asset transfers with Ethereum, Bitcoin, Binance, and other chains.

Platform Strengths

Secure, Random State Sharding

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.

Fast Consensus w/ Instant Finality

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 8-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.

Effective PoS & Token Economics

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.