Blockchain technology is a classic and modern technology which is disrupting most of the world economy. It is a distributed immutable model that acts as a ledger to store and take care of transactions. Blockchain is a chain of blocks containing several data. It is a public ledger which is accessible and open to anyone. Instead of using a central model , blockchain embraces a decentralised peer-to-peer framework of networks to enable all to be part of it.
Blockchain technology births better and greater transaction which is transparent,with improved ans enhanced security, better working efficiency, and great speed.
Cryptocurrency operations, which are built on blockchain technology, has effect on the economy on a global scale. These allow sharp, private, anonymous but secured payments around the world and help to reduce corruption and money laundering to the lowest minimum.
Cryptocurrency payments are encased in transparency independent from intermediaries (such as banks) and allow to make transactions at a significantly low cost.
THE BOTTLENECK
The major cryptocoin is the Bitcoin of which has been used to in several several transactions. At start when the users where some how not much bitcoin can process many transactions per sec. But as adoption keeps growing and many are coming to love and use this awesome Bitcoin coin, the usera are being increased daily. And so the latency period is being increased and the throughput is also limited as it falls to be able to process about 7 TPS . This is not good for the global adoption of blockchain technology and cryptocurrency. For Cryptocurrency to be used as a global means of transactions it has to be able to execute transaction fast. Seeing this challenge many developers of diffrent altcoins have swing into action to provide a system that will increase the transaction thoroughput . Of which many tried their best but many failed to achieve the goal..
Here comes the game changer, Harmony comes with a diffrent style and approach to solve this issue and challenge. Harmony as a blockchain project is not just thinking of putting and end to throughput issue and increase throughput performance , they also want to put more emphasis on the number of nodes that actively contribute to the blockchain network.
HARMONY SOLUTION TO BLOCKCHAIN THROUGHPUT ISSUES
Harmony one is blockchain project with a high performing consensus ecosytem that has the infrastructure to handle 10 billion people globally in the future, which means it can accommodate more than the entire world population. Harmony infrastructure is built in such a way that it can encourage decentralised economies.
Harmony.one is will take a unique stack approach of making use of classic innovations in networking with a x10 better performance, and also for ecosystems, and various algorithms.
HARMONY TECHNOLOGY
Moving to the technology aspect, Harmony utlizes a sharding consensus protocol . Each shard consist of various nodes and uses a fast BFT algorithm of which consensus can be accesed within a few seconds. Harmony leverage on the QUIC protocol to deliver quicker messages. within the ecosystem Harmony study UniKernel to reasonable additional scale that will aid the performance of the OS on a solo node.
CONCLUSION
Harmony one’s cutting edge infrastructure can actually allow the operation of various sorts of Dapps and decentralised marketplace , which need a really high throughput & open decentralization.
Judging by Harmony technology and infrastructure it is clear that they will cause great disruption within this space.
For more information about the project please click on the links below:
Website: https://harmony.one/
Medium: https://medium.com/harmony-one
Discord: https://harmony.one/discord
Instagram: https://www.instagram.com/harmonyoneprotocol/
Twitter: https://twitter.com/harmonyprotocol
Telegram: https://t.me/harmony_one
Linked: https://www.linkedin.com/company/harmony-protocol/
WhitePaper: https://harmony.one/whitepaper
Written By: Deathproxy
Bitcointalk Profile URL: https://bitcointalk.org/index.php?action=profile;u=58767
