Complete Guide on Harmony ONE

Written by Elizabeth Saul

31 May 2020

Harmony ONE Guide

Harmony ONE is one of the latest projects that attempts to approach the issue of blockchain scalability. The main goal of ONE is to become a much faster and cheaper network than Bitcoin or Ethereum. Besides that, the ecosystem “helps companies to create markets for expendable tokens (such as security offerings) and non-expendable assets (game collectibles, real estate)”. Their team is also working on “zero-knowledge” tests for data exchange (ad exchanges, credit ratings) while preserving consumer privacy.

Using a “full-stack” approach, Harmony is developing a blockchain that is not only scalable but also safe and energy-efficient.
Harmony ONE coin

What are the advantages of Harmony coin?

Harmony consensus protocol

The Harmony protocol uses the latest principles, such as sharding and pipelining. This allows the network to process many different transactions instantly. It means that there is no need for a single confirmation for all transactions.

Widely speaking, with the Harmony approach, connection latency is significantly reduced, and transaction throughput can change as the network grows.

Roadmap

Harmony Roadmap

According to the official information provided by the ONE coin on their web resource, you can see the following roadmap. The team sets itself difficult tasks that require a significant amount of effort and time invested. They work hard on every detail of their project to bring innovation to the cryptocurrency field. You can read even more information regarding their plans on their Medium page.

The Harmony Team

The team behind Harmony is made of experts in business creation, engineering and university research. They come from Google, Amazon, Apple, Microsoft, and several successful startups, who worked on some of the world’s largest systems such as AWS infrastructure, Apple’s Siri, and Google Maps.

Although the team remains small, with only 12 full-time members and four additional employees, they bring experience in software development, machine learning, artificial intelligence, virtual reality, and blockchain technology.

The CEO and team leader is Stephen Tse, a passionate coder who has spent his life studying and working on compilers and security protocols. He holds a Ph.D. in security protocols and compiler verification from the University of Pennsylvania.

He worked as a researcher at Microsoft Research, a senior infrastructure engineer at Google, and a senior search engine ranking engineer at Apple. He later founded the mobile search engine Spotsetter with institutional venture capital, later Apple acquired the startup.

Later, he collaborated with Nicolas Burtey, COO, who is an entrepreneur who started a VR startup that grew to 40 employees and raised $10 million. There are four other co-founders, most of them are experts in artificial intelligence, and one holds an MBA from Harvard.

The Harmony team completed a private sale of tokens in May 2018. In this sale, they raised approximately $18 million in exchange for 22.4% of the total offering (the price of nearly $0.0065).

Store Harmony ONE

Harmony wallet in Guarda is the easiest way to store and manage it without having to worry about safety or privacy. You can even manage Harmony ONE coin through a browser interface or download a desktop app available for macOS, Windows, and Linux. Guarda wallet supports well over 45 coins and compatible with all ERC-20 tokens, BEP-2, ERC-721, TRON tokens (TRC10 and TRC20), WAVES, ATOM, OMNI, EOS, etc.

Conclusion

Scaling up is still one of the critical challenges for the blockchain industry, which must be solved in the near future. The ambitious team at Harmony proposes to solve this problem using principles such as sharding. We believe that the team’s commitment to opening up blockchain technology to billions of people will allow them to make a significant contribution to solving the scalability problem.

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