Hence, encouraging interoperability.Īccording to the technical overview of the website, Horizon will aid the transfer-assets flow where assets can be locked on Ethereum and the equal amount of that asset is minted on Harmony or redeem-assets flow where a particular amount of a minted asset on Harmony is burned and the equal is unlocked on Ethereum. Horizon, a project launched in 2020 was targeted at making it seamless for assets to be transferred from one blockchain to another. How? By enabling nodes on other networks to validate transactions. One of the best capacities of the Harmony blockchain is to share data across many blockchain networks be it a Proof-of-Stake or Proof-of-Work powered network. Apart from the TPS, the transaction fee is also drastically lowered when compared with Ethereum. They went ahead to use Effective Proof of Stake, which combines the positive attributes of PoW and PoS making it suitable for mining activities especially… since transactions are verified in seconds. Proof of Stake used by Harmony is one of the models that has made it energy efficient. Thanks to the lighting network that is creating an easier ecosystem for users to enjoy. Although, some findings show that Bitcoin does not consume as much energy as projected. One of the biggest cases against Bitcoin again is its energy consumption.
Validation of transactions in the blockchain system is one major reason it is energy-consuming. Several structures have been designed to maintain all these functionalities like sharding easy entry requirements to be a validator, just One token the use of distributed randomness generation process to assign nodes that act as validators. Harmony blockchain is one of those blockchains designed to not compromise any of these attributes. Stephen, the CEO, also gave hints that Harmony will address what could be called the “fourth” trilemma – privacy. This is called the trilemma of blockchain where a project is designed with security, decentralization, and scalability in view. And others are still utility-based but traded as one of the strengths any network should have. For Bitcoin, that has been its major limitation. Most blockchain platforms are designed to be so efficient and not just as a cryptocurrency use case. Attempts to address the trilemma of blockchain networks – even the “fourth” trilemma. Some are similar to what you’ll see for Ethereum based blockchains while others are not especially in terms of the combination and goals. In this post, we’ll explore features of the Harmony blockchain.
Harmony One is a layer-2 protocol blockchain designed to enhance the creation of decentralized apps with a focus on scalability and faster, cheaper settlement.
0 kommentar(er)
