Harmony's Next Level PoS Network
12 April 2019 - 6:59PM
ADVFN Crypto NewsWire
Bitcoin Global News (BGN)
April 12, 2019 -- ADVFN Crypto NewsWire -- Investors from Hong
Kong’s Lemniscap VC, Australia’s BCA Fund, Singapore’s UniValues
Associates and Silicon Valley’s Consensus Capital and many others
are interested in the potential of a new blockchain network called
Harmony. The network plans to launch as a proof-of-stake
organization from the get go, rather than make a transition as the
Ethereum network has been working on for years.
“Harmony’s core architecture and
approach are the right ones to scale blockchain protocol (state
sharding and peer to peer networking). Innovation in centralized
systems is slowed down and bottlenecked by massive incumbents like
Google/Facebook.” - Maximilian Thyssen, an angel investor who
joined the Harmony round
The current Harmony team includes
employees with previous work experience with the biggest Web 2.0
companies like Google and Amazon, companies that have made great
advantage of people’s data on the internet. They are looking to do
more than just improve upon the technology. They hope to take on
the greater good of empowering people with their user data on
decentralized networks like Harmony.
“The companies our team came from,
they monopolize all this, and they extract a lot of the value that
maybe users should be getting.” - Co-founder Nick White
PoS and Chain
swapping
Harmony’s version of a
decentralized protocol is beginning with a pre-mined pool of 12.6
billion tokens, 2.8 of which have already been sold in their
initial token sale for a total of $18 million. Moving forward,
another pool of those tokens will be used to incentivize early
adopters of the network, including distributions to those who
participate as nodes. Although it will be a proof-of-stake network
through and through, like Bitcoin and other traditionally formatted
cryptocurrency, the Harmony network will gradually reduce the
staking reward to prevent inflation. However, there is no
predetermined total number of tokens.
One of the biggest features the
Harmony chain is working on is the ability to easily port dapps
over from other networks. They are focusing especially on making
this easiest for Ethereum dapps, as they are most prevalent on that
network. Further, it creates network congestion and raises fees to
operate the dapps, which leads to the advantage of porting the dapp
to the Harmony network where it could run more
efficiently.
“When we start to attract a
meaningful number of users, you kind of create a new data economy.
And that, in the end, is what enables data as an income.” -
Co-founder Nick White
By: BGN Editorial Staff
Bitcoin (COIN:BTCUSD)
Historical Stock Chart
Von Mär 2024 bis Apr 2024
Bitcoin (COIN:BTCUSD)
Historical Stock Chart
Von Apr 2023 bis Apr 2024